Services-Prepackaged SoftwareIFRS · EUR

OneStream, Inc.

OneStream, Inc. develops the Digital Finance Cloud, a software platform used by finance organizations to unify financial consolidation, planning, reporting, analytics, and related operational workflows. The company serves enterprises globally through a direct sales model supported by a network of implementation, consulting, and technology partners.

Revenue602m EUR
+23.0 %y/y
Operating profit (EBIT)-94.8m EUR
+70.3 %y/y
EBIT margin-15.7%
+49.5 ppy/y
Net income-50.3m EUR
+76.7 %y/y
Free cash flow95.6m EUR
+63.4 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-400-2000200400600800m EUR2022: 279 m EUR2022: EBIT -59 m EUR20222023: 375 m EUR2023: EBIT -31 m EUR20232024: 489 m EUR2024: EBIT -320 m EUR20242025: 602 m EUR2025: EBIT -95 m EUR2025602-95
RevenueOperating profit (EBIT)

Business

Share of revenue
Core finance platform45 %

Unified software for consolidation, close, reporting, and finance data management.

Planning and forecasting25 %

Applications for budgeting, forecasting, scenario analysis, and performance planning.

Operational applications15 %

Workflows for workforce, sales, capital, profitability, and ESG planning.

Solution Exchange applications10 %

First-party and partner-built add-on applications sold through the marketplace.

Implementation and partner ecosystem5 %

Partner-enabled deployment, configuration, and customer adoption support.

Products

Reported · share of revenue
91.4%FY2025100 %
  • Subscription and Circulation91.4 %
  • Professional Services and Other5.7 %
  • License3.0 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

OneStream sells primarily to large enterprises that need a single platform for finance transformation, planning, and reporting across multiple business units and geographies. Buyers are typically CFO organizations, finance teams, and adjacent business functions such as operations, sales, HR, and IT that use the platform for enterprise-wide planning and analytics. The company also relies heavily on consulting firms and systems integrators that implement the software and influence customer adoption.

Large enterprise finance organizations

Buy the core platform for consolidation, planning, and enterprise finance control.

Cross-functional business users

Use operational planning and analytics applications for workforce, sales, and profitability planning.

Consulting and systems integration partners

Implement the platform, generate leads, and influence enterprise buying decisions.

Independent software vendors and developers

Build add-on applications for the Solution Exchange and share in monetization.

Strategy

OneStream’s strategy centers on expanding the Digital Finance Cloud across the Office of the CFO and into adjacent operational planning use cases. The company is also extending its platform through AI-enabled features, a growing Solution Exchange, and a partner ecosystem that helps it reach new customers and industries. International expansion and deeper enterprise penetration are important because the platform can expand within existing accounts as more functions adopt it.

Broaden use cases within the Office of the CFOMedium term

More workflows on one platform increase customer stickiness and account expansion.

Extend into operational planning and analyticsMedium term

Cross-functional applications widen the buyer base beyond finance.

Scale partner-led implementation and distributionShort term

Partners increase lead generation and reduce deployment friction.

Expand internationallyMedium term

The company has disclosed customers in about 45 countries and sees room to grow outside the U.S.

Geography

OneStream is headquartered in the United States but serves customers in approximately 45 countries. The company maintains offices in the United States, Australia, Europe, and Singapore, reflecting a business model that depends on both domestic enterprise demand and international expansion. In the most recent interim period disclosed, customers outside the United States accounted for 35% of revenue, showing meaningful exposure to global enterprise software adoption.

Risks

OneStream depends on winning and retaining large enterprise customers, which can involve long sales cycles, competitive pricing, and complex implementation requirements. The business also relies on partners, cloud infrastructure, and secure handling of customer data, so execution failures, outages, or cybersecurity incidents could damage adoption and renewal rates. As a holding-company structure with a principal operating subsidiary, the parent entity also depends on distributions from OneStream Software LLC to meet its obligations.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competitive pressure in enterprise finance software1Partner dependence2Cybersecurity and data protection incidents3Cloud infrastructure and outage risk4Holding-company cash flow dependence5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competitive pressure in enterprise finance softwareImpact: HighLikelihood: Medium

    Customers can compare multiple planning, EPM, and finance platforms and may demand discounts or features.

    Exposure: Core platform and new application sales

  2. Partner dependenceImpact: HighLikelihood: Medium

    A large share of lead generation and implementation support comes from consulting and systems integration partners.

    Exposure: Customer acquisition and deployment success

  3. Cybersecurity and data protection incidentsImpact: HighLikelihood: Medium

    The platform processes sensitive financial and operational data for large enterprises.

    ExposureCustomer trustRenewalsService continuity
  4. Cloud infrastructure and outage riskImpact: MediumLikelihood: Medium

    Service interruptions or vendor failures can impair customer operations and brand perception.

    Exposure: Platform availability and support costs

  5. Holding-company cash flow dependenceImpact: MediumLikelihood: Medium

    The parent relies on distributions from the operating subsidiary to fund taxes and expenses.

    Exposure: Corporate liquidity and obligations

Accounting

Judgemental items
Revenue recognition

Software contracts may include subscriptions, licenses, and services with different recognition patterns.

Impact: Affects reported revenue timing and quarterly volatility

Deferred revenue

Customer billings can be collected before services are fully delivered.

Impact: Affects balance sheet liabilities and future revenue visibility

Partner revenue-share arrangements

Solution Exchange monetization may require sharing economics with partners.

Impact: Affects gross revenue presentation and net revenue economics

Cloud and data-center commitments

Long-term service commitments create fixed future obligations.

Impact: Affects expense recognition and cash flow planning

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026