OneStream Reports $50.3M Net Loss, 23% Revenue Growth in 2025

OneStream, Inc. reported its financial results in its recent 10-K filing, revealing a net loss attributable to OneStream, Inc. of $50.3 million for the year ended December 31, 2025, compared to a net loss of $216.2 million in the prior year. Total revenue reached $601.9 million, a 23% increase from $489.4 million in 2024. Subscription revenue, a significant component, grew by 28% to $550.0 million, driven by new customer acquisitions and expanded use of the platform by existing clients. License revenue, however, decreased by 44% to $17.8 million, reflecting the company's strategic shift towards a SaaS-based model.

The company's cost of revenue increased by 5% to $188.6 million. Subscription cost of revenue increased by 24% to $140.1 million, primarily due to higher cloud computing costs. Conversely, the cost of professional services and other revenue decreased by 27% to $48.6 million, attributed to lower employee compensation costs and a strategic shift towards leveraging partners for implementation services. Operating expenses totaled $508.1 million, a 19% decrease compared to the previous year, with reductions observed across sales and marketing, research and development, and general and administrative functions. These decreases were largely driven by lower equity-based compensation expenses.

Key operational developments included a 13% increase in total customers, reaching 1,805 as of December 31, 2025. Annual Recurring Revenue (ARR) grew by 23% to $698.9 million, indicating continued business momentum. The company also highlighted its ongoing international expansion, with revenue from outside the United States accounting for 34% of total revenue. Strategic initiatives included extending the platform's capabilities further into operations and enhancing its technology leadership through investments in research and development, particularly in AI and machine learning.

Looking ahead, OneStream is set to be acquired by affiliates of Hg, a software and services investor, in a transaction valued at approximately $6.4 billion. The Merger Agreement, dated January 6, 2026, stipulates that each share of Class A and Class D common stock will be converted into the right to receive $24.00 in cash. The Mergers are expected to close in the first half of 2026, pending regulatory approvals and customary closing conditions. In connection with the Merger Agreement, the Tax Receivable Agreement (TRA) was amended to terminate upon the consummation of the Mergers, with no payments to be made to TRA members.