OneStream Software Announces Strong Third Quarter Results, Maintaining Continued Momentum in 2023

logo

CPM software provider reports over $400M Annual Recurring Revenue, up nearly 40% year-over-year

October 11, 2023 09:00 AM Eastern Daylight Time


BIRMINGHAM, Mich.--(BUSINESS WIRE)--OneStream Software, a leader in corporate performance management (CPM) solutions for advancing financial close, consolidation, reporting, planning and forecasting, announced that its Annual Recurring Revenue (ARR) is above $400M, a nearly 40% increase year-over-year in the third quarter ending September 30, 2023.

During this period, OneStream grew its customer base 22% year-over-year to over 1,300 customers globally. Notable new customers signed in the third quarter include 3D Systems, Avianca, Brenntag, Coca-Cola İçecek, Rémy Cointreau, U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement.

OneStream hosted its Splash 2023 European User Conference and Partner Summit in Berlin with over 900 attendees, up 60% year-over-year. At the conference, OneStream highlighted the next generation of its Intelligent Finance Platform, advancing performance, scalability, and security. The company also announced expanded solutions for applied Artificial Intelligence (AI) and Environmental, Social and Governance (ESG) to increase end-user speed to insights across Financial Performance Management, Operational Planning & Analytics and Forecasting.

OneStream also showcased rapid customer adoption of the company's Sensible Machine Learning (ML) capabilities that were released earlier this year to dramatically improve forecasting accuracy and previewed its new Large Language Model (LLM) and Generative Pretrained Transformer (GPT) solutions built to help finance and operational teams gain better insights into financial and business scenarios and performance.

"As organizations seek transformative solutions to drive business agility, we remain committed to building innovative solutions that not only enable customers to manage performance, but to steer the business and predict future performance," said Tom Shea, CEO at OneStream Software. "OneStream's next-generation platform and the investments we are making in applied AI will help customers streamline financial and operational planning and reporting processes and support confident decision-making."

OneStream added nine partners in the third quarter and now has over 230 partners globally. New partnerships in EMEA with BDO and Advance Tax Compliance further strengthen the ability to meet future Tax and Pillar 2 reporting requirements. In September, the company announced the release of new OneStream- and partner-developed solutions available through the OneStream Solution Exchange, including an ESG Blueprint solution that accelerates the delivery of ESG reporting and planning with pre-built carbon calculations and ESG metric conversions. The initial launch of the Solution Exchange included several partner-built solutions, such as Automotive Planning Factory, Dynamic Cash Flow and more. The company announced that OneStream is now reviewing applications submitted for the second wave of partner solutions built on the OneStream platform.

"At OneStream, our mission centers on delivering 100% customer success and providing exponential value for our customers. The OneStream Solution Exchange is accelerating the delivery of new solutions developed on the OneStream platform by OneStream, our partners and the broader ecosystem that our customers can leverage to quickly address new functional- or industry-specific requirements," said Craig Colby, President at OneStream. "With five partners developing and delivering solutions for the initial launch of the Solution Exchange, we are now evaluating submissions from additional partners and look forward to adding another group of solutions that can help customers extend their investment in the platform even further."

OneStream received several industry recognitions as a leading provider of CPM solutions during the third quarter, including:


  • Recognized on the Inc. 5000 list of fastest-growing companies by Inc. Magazine



  • Recognized as a Fall 2023 Leader by G2 in the Americas Regional Grid® Report and EMEA Regional Grid® Report for Enterprise and Mid-Market CPM solutions



To learn more about OneStream's Intelligent Finance platform and view upcoming events visit www.onestream.com.

About OneStream Software

OneStream provides an intelligent finance platform built to enable confident decision-making and maximize business impact. OneStream unleashes organizational value by unifying data management, financial close and consolidation, planning, reporting, analytics and machine learning. We empower Finance and Operations teams with AI-enabled insights to make faster and more intelligent decisions every single day. All in a single, modern CPM platform designed to continually evolve and scale with your organization.

OneStream is an independent software company backed by private equity investors KKR, Tidemark, Partners Fund Capital and Alkeon Capital Management. With over 1300 customers, more than 230 implementation partners and roughly 1300 employees our primary mission is to deliver 100% customer success. To learn more visit www.onestream.com.