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OneStream , Inc. (NASDAQ:OS), a prepackaged software services company with annual revenue of $489 million and strong liquidity position, disclosed changes in its executive management in a recent SEC filing. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a current ratio of 2.36x. Effective May 1, 2025, co-founder Craig Colby will transition from his role as president to chief success officer. Concurrently, co-founder, CEO, and chairman of the Board, Thomas Shea, will also take on the role of president without additional compensation. These leadership changes come as the company's stock has declined nearly 38% over the past six months, though InvestingPro analysis indicates the stock is currently trading near its Fair Value.
Additionally, on April 3, 2025, the Board appointed Ken Hohenstein as an executive officer and officer of the company, effective May 1, 2025. Hohenstein, 55, has been serving as chief revenue officer since January 2022, overseeing global go-to-market efforts. His compensation will remain unchanged with this new appointment.
Before his current position, Hohenstein was the senior vice president, Americas Sales, at OneStream from August 2016 to December 2021. His prior experience includes a managing director role at Huron Consulting (NASDAQ:HURN) and senior leadership positions at Oracle (NYSE:ORCL) and Hyperion. Hohenstein is an alumnus of the University of Massachusetts, Isenberg School of Management.
There are no familial ties between Hohenstein and any current directors or executive officers of the company. He is a party to a tax receivable agreement, as detailed in the company's secondary offering prospectus dated November 14, 2024. No arrangements or understandings with other persons were disclosed regarding his selection as chief revenue officer. OneStream will enter into its standard indemnification agreement with Hohenstein.
The information regarding these executive changes is based on a press release statement filed with the SEC. While 13 analysts have recently revised their earnings expectations downward, they maintain an optimistic outlook, with consensus targets suggesting significant upside potential. For deeper insights into OneStream's financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, OneStream Inc. reported a significant year-over-year revenue increase of 29% for the fourth quarter, reaching $132.5 million, with subscription revenue climbing 35% to $118.6 million. Despite these revenue gains, the company disclosed a substantial GAAP operating loss of $47.4 million, contrasting with a small income from the previous year. The fiscal year 2024 saw total revenue rise by 31% to $489.4 million, although the GAAP operating loss widened considerably to $319.5 million. Following these results, JPMorgan downgraded OneStream from Overweight to Neutral, citing cautious data points and deal slippage, while Goldman Sachs reduced its price target to $36 but maintained a Buy rating. BMO Capital also adjusted its price target from $38 to $34, noting a moderate revenue upside and improved margins, yet highlighting a less aggressive growth forecast. Meanwhile, Stephens initiated coverage with an Overweight rating and a $27 price target, emphasizing OneStream's potential as a leading software platform for CFOs. Additionally, OneStream achieved FedRAMP High security authorization, enhancing its compliance credentials and positioning it as a secure solution for federal finance leaders. These developments reflect both the opportunities and challenges facing OneStream as it navigates its strategic and financial landscape.
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