cloudedjudgement.substack.com · 2024-07-16 · 688d

OneStream: Benchmarking the S1 Data

Analysis of OneStream's S1 filing for its IPO, benchmarking the cloud-based financial planning platform against public SaaS peers across growth, profitability, and unit economics metrics. OneStream demonstrated 37% LTM revenue growth with $406M ARR, 70% gross margins, and 23.4-month CAC payback periods, positioning it competitively within the enterprise finance software market.

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Metrics in this report

CAC Payback Period

23.4months

average

OneStream 2023

CAC Payback Period

21.3months

average

OneStream 2022

Free Cash Flow Margin

11percent

LTM

OneStream

Gross Margin

70percent

LTM GAAP

OneStream cloud finance software

IPO Price Range

17-19USD per share

OneStream amended S1 filing

Implied Market Capitalization

4.8billions USD

OneStream at IPO price range

LTM Revenue

406millions USD

OneStream as of S1 filing, July 2024

NTM Revenue Multiple

7.5x

OneStream at implied valuation

Operating Margin

-4percent

LTM GAAP

OneStream

Quarterly YoY ARR Growth

40percent

most recent quarter

OneStream

Revenue Growth

37percent

LTM

OneStream, demonstrating top-quartile SaaS growth

Total Addressable Market

50billions USD

OneStream's estimate for enterprise and mid-market finance cloud solutions as of December 31, 2023