OneStream's Remarkable Growth: Highlights of 2024 Financials
OneStream Reports Impressive Fourth Quarter and Fiscal Year 2024 Results
OneStream, Inc. (NASDAQ: OS), a leader in enterprise finance management, has announced its financial outcomes for the fourth quarter and the entire fiscal year of 2024. This period has seen remarkable growth owing to strategic innovations and a focus on enhancing customer experiences.
Fourth Quarter 2024 Financial Highlights
In the fourth quarter of 2024, OneStream experienced a substantial uptick in its financial performance. The company reported total revenue of $132.5 million, which marks a 29% increase compared to the previous year. Subscription revenue alone saw a 35% increase, totaling $118.6 million, showcasing the growing demand for its services among clients.
Key Performance Metrics
- GAAP Operating Loss: The GAAP operating loss was recorded at $47.4 million.
- Non-GAAP Operating Income: For this quarter, non-GAAP operating income stood at $8.7 million, up from $1.4 million in the previous year.
- Free Cash Flow: Free cash flow for the quarter was a notable $24.7 million.
- Net Cash from Operations: OneStream generated net cash of $25.1 million from its operating activities.
Fiscal Year 2024 Summary
The entire fiscal year 2024 reflected OneStream's commitment to growth and innovation. Total revenue reached $489.4 million, which represents a significant 31% increase from 2023. Subscription revenue grew even more dramatically, hitting $428.2 million, a 41% jump year-over-year.
Yearly Performance Highlights
- GAAP Operating Loss: Throughout 2024, the GAAP operating loss expanded to $319.5 million.
- Non-GAAP Net Income per Share: The company announced a non-GAAP net income per share of $0.14, indicating growing efficiency and profitability.
- Increased Cash Flow: Net cash provided by operating activities was $61.2 million, significantly up from $21.3 million the previous year.
- Positive Free Cash Flow: By year-end, free cash flow stood at $58.5 million, up from $18.7 million in 2023.
Innovation and Developments
This year was marked not just by financial results but also by substantial innovation. OneStream introduced a suite of AI-driven solutions focused on improving financial processes, including AI-powered forecasting and reporting tools.
Strategic Partnerships and New Products
- OneStream has solidified its partnership with Microsoft, integrating deeper into the Office 365 Suite and enhancing collaboration features.
- At the Wave Developer Conference, the company showcased its advancements in AI-powered anomaly detection, promising better operational efficiencies for clients.
- New product introductions included CPM Express, designed to streamline financial reporting and forecasting implementations to just 6 to 8 weeks.
Recognitions
OneStream's advancements haven’t gone unnoticed in the industry. The company was recognized as a Leader in Gartner’s Magic Quadrant for Financial Planning Software for the third consecutive year, and continued to receive accolades from various industry analysts.
Financial Outlook for 2025
Looking ahead, OneStream is optimistic about its financial outlook for the upcoming year, targeting total revenues of between $583 million and $587 million for FY2025. The company also aims for a non-GAAP operating margin improvement, solidifying its place at the forefront of finance technology.
Frequently Asked Questions
1. What were OneStream's total revenues for FY2024?
OneStream reported total revenues of $489.4 million for the fiscal year 2024.
2. How much did subscription revenue increase year-over-year?
Subscription revenue increased by 41% year-over-year, reaching $428.2 million.
3. What innovations did OneStream introduce in 2024?
OneStream introduced a suite of AI-powered solutions, due to its commitment to innovation in financial processes.
4. What is OneStream's financial outlook for 2025?
OneStream is projecting total revenues between $583 million and $587 million for FY2025.
5. Where can I find more information about OneStream?
For more details, please visit the Investor Relations section of OneStream's website.
About The Author
Contact Caleb Price privately here. Or send an email with ATTN: Caleb Price as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
