OneStream, Inc. reported fourth‑quarter 2025 revenue of $163.73 million, a 19% year‑over‑year increase, and earnings per share of $0.12, beating the consensus estimate of $0.05 by $0.07. The quarter’s revenue growth followed a 19% rise in full‑year 2025 revenue to $489.4 million, and the company’s Q4 2024 revenue of $132.5 million provides a clear baseline for the 19% jump. The earnings beat reflects disciplined cost management and a favorable mix shift toward higher‑margin subscription revenue.
The non‑GAAP operating margin for Q4 2025 rose to 10%, up from 5% for the full year and 7% for Q4 2024. The margin expansion is driven by the company’s accelerating SaaS conversion, which reduces the impact of equity‑based compensation and improves operating leverage. The 10% margin demonstrates that the company’s cost discipline and pricing power are translating into stronger profitability.
Management guided for full‑year 2026 revenue of $594–$596 million and a non‑GAAP operating margin of 2–3%. The guidance signals confidence in continued demand for the platform while acknowledging that margin expectations will be modest as the company invests in AI capabilities and expands its subscription footprint. The revenue outlook represents a 2–3% increase over the prior year’s guidance of $583–$587 million, indicating steady growth momentum.
OneStream’s results were underpinned by a 35% year‑over‑year increase in subscription revenue, driven by the SensibleAI portfolio and the expansion of its CPM Express offering. AI bookings and customer numbers more than doubled in 2025, and the company’s AI‑centered strategy has led to significant operational efficiencies, such as a 27% improvement in forecasting accuracy and an 86% acceleration of planning cycles. These gains reinforce the company’s shift toward a fully SaaS‑based business model and support the positive margin trajectory.
The earnings release came amid the pending acquisition of OneStream by private‑equity firm Hg, announced on January 6, 2026, for $24.00 per share in cash. The acquisition announcement has dominated investor attention, leading to a muted market reaction to the earnings. While the results demonstrate strong execution, the acquisition context suggests that investors are weighing the company’s future as a private entity rather than focusing solely on quarterly performance.
OneStream continues to accelerate its SaaS conversion and AI initiatives, delivering solid revenue growth and margin expansion. The company’s guidance for 2026 reflects confidence in sustained demand, but the modest operating margin outlook and the pending acquisition underscore the importance of monitoring how the transition to a private ownership structure will shape future strategy and execution.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.