Proceeds
The management intends to use a portion of the net proceeds from the offering — which is yet to determined – to purchase newly issued LLC units from OneStream Software LLC at a purchase price per LLC unit equal to the initial public offering price per share. The remaining funds will primarily be used for purchasing a certain number of issued and outstanding LLC units from KKR.
In the three months ended March 2024, OneStream’s revenues totaled $110.29 million, compared to $78.82 million in the corresponding period last year. The company reported a net loss of $4.96 million for the March quarter, marking a sharp improvement from the prior-year period when it incurred a bigger loss of $23.08 million. It ended the quarter with a positive free cash flow of $24.85 million.
The Company
OneStream is a designer and developer of enterprise software, offering solutions for corporate performance management, planning, budgeting, forecasting, reporting, analysis, and accounting reconciliation. It is led by co-founder Thomas Shea who serves as the chief executive officer.
At the end of March 2024, OneStream had 1,423 customers, up from 1,148 customers as of December 2022. Customers include global enterprises, mid-market organizations, and government agencies.