Start here if you're new
what it is
OneStream sells software that helps big companies close their books, plan budgets, and keep finance data in one place.
how it gets paid
Last year Onestream made $602M in revenue. financial close & consolidation was the main engine at $215M, or 36% of sales.
why it's growing
Revenue grew 23.0% last year (FY scale). Drop stacked 184% vs. prior year lines that cannot coexist with that FY math unless you define quarter vs partial-year explicitly in the filing.
what just happened
A typical quarter is on the order of ~$150M revenue (≈¼ of $602M TTM)—not $438M as one quarter. Gross margin 68.2%, quarterly EPS -$1.06 in this feed (verify vs diluted share count).
At a glance
n/a balance sheet
-$1.25 fy2024 eps est
$489M fy2024 rev est
-15.7% operating margin (loss-making ops)
~$6B market cap
What they do
OneStream sells software that helps big companies close their books, plan budgets, and keep finance data in one place.
Finance teams hate ripping out core systems. OneStream sells into the Office of the CFO, where broken reporting can become an audit problem fast. That makes the product sticky, and the company turned that into $602M of trailing revenue with 1,500 employees.
How they make money
$602M
revenue (TTM / FY-scale in this feed, same as basics) · grew +23.0% last year (FY vs. prior year)
financial close & consolidation
$215M
+23.0%
planning & analysis
$180M
+23.0%
reporting & financial data platform
$143M
+23.0%
professional services
$34M
+15.9%
other revenue
$30M
+15.9%
The products that matter
finance platform software
OneStream Platform
$602M platform figure in source data
this is the core business. One source on the page tags it at $602M revenue with ~68% gross margin in this feed, which does not reconcile cleanly with the $489M company estimate above. The directional point still holds: software is the engine.
~68% gross margin
pre-built finance apps
Solution Exchange
add-on ecosystem
it extends the platform into specific finance workflows. There is no clean revenue breakout here, which tells you it matters strategically more than it matters as a standalone line item in this snapshot.
ecosystem layer
Key numbers
$602M
ttm revenue
That is the proof customers are showing up. It also gives you the denominator for a stock valued near $6B.
+23.0%
revenue growth
Growth this fast is why investors tolerate losses. If that number slips, the whole pitch changes.
-15.7%
operating margin
Negative operating margin means the core business loses money before interest and taxes—matches the hero line, not a positive 15.7% misread.
$14M
long-term debt
That debt load is tiny against a $6B market value. The balance sheet is not the immediate problem here.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $14M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for OS right now.
source: institutional data · return history unavailable
What just happened
verify EPS vs consensus
Quarterly revenue near ~$150M (≈¼ of $602M TTM), gross margin 68.2%, EPS -$1.06 in this feed.
Some feeds show -$0.05 vs -$1.06 for the same window—check diluted shares, one-offs, and non-GAAP labels before calling beat/miss. Ignore 184% vs. prior year stacked on 23% FY until the period matches.
~$150M
Q revenue (approx.)
-$1.06
eps
68.2%
gross margin
the number that mattered
68.2% gross margin matters while ops stay loss-making—growth only works if the model eventually converts gross profit into operating income.
source: company earnings report, 2026
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What could go wrong
the #1 risk is the Hg buyout failing or dragging out. In this setup, the spread is the story.
med
deal break risk
The $6.4B all-cash buyout needs approvals and a clean closing process. If it fails, the market has to price OS as a standalone software company again, not as a $24 cash stub.
The stock already sits at $18.60 versus a $24 offer. That gap is the market's live estimate of things going wrong.
med
margin disappointment if standalone
Seventy percent gross margin looks like software. Seven percent operating margin looks like a business still paying heavily to grow and support itself. If the deal disappears, investors will ask how quickly that 7% can move.
Without clear margin expansion, the market may keep valuing OS below the deal price even if revenue keeps growing.
med
leadership and process friction
The CFO left in december 2025, and a shareholder investigation was announced on mar 12, 2026. Neither event is fatal on its own. Together, they add noise to a transaction that wants the opposite of noise.
Delay risk matters because event-driven stocks trade on timing as much as outcome.
A forced return to standalone valuation would leave you owning a software company with good gross margins, thin operating margins, and a market that already looked skeptical before the bid.
source: institutional data · regulatory filings · risk analysis
Pay attention to
closing clock
shareholder and regulatory milestones
The next hard date matters more than any product launch. This stock moves on the path to a $24 cash close.
metric
operating margin above 10%
If OS ends up standalone, this is the number that matters. Seven percent is positive. Double digits would make the standalone case less awkward.
risk
deal litigation and process friction
The mar 12, 2026 shareholder investigation may amount to little. In merger situations, little things can still slow real money.
trend
profitability holding after the first profitable quarter
One quarter of $1.0M profit is progress, not proof. If the deal slips, you want to see black ink show up again.
Analyst rankings
coverage status
thin
event-driven names often break the normal ranking framework. in human-speak, analysts are handicapping the deal more than they are modeling 2027 software margins.
usefulness of targets
low
once a cash offer is on the table, traditional upside math loses relevance. The only target that really matters is $24, and whether it is real.
source: institutional data
Institutional activity
institutional ownership data for OS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$19
current price
n/a
target midpoint · n/a from current
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