OS

• Focused execution with strong billings growth despite U.S. Federal headwinds.
• International revenue grew 37%, with 34% of total revenue. Renewed all Q3 agency customers in federal business except one discontinued agency, added a new federal customer, and began SaaS conversions.
• Product announcements: SensibleAI Studio now has ~60 algorithms, SensibleAI agents moved to limited availability, AI-powered ESG unveiled, and CPM Express expanded with IFRS compliance.
• Customer wins: Swiss multinational healthcare leader and leading residential real estate services company adopted OneStream, with SensibleAI Forecast showing strong ROI in forecast accuracy and time savings.
• Positioned to lead finance AI era with unified platform and contextualized data.

• Q4 2025: Total revenue expected $156M - $158M, non-GAAP operating margin 4%-6%, net income per share $0.04 - $0.07, stock-based compensation ~$25M, billings growth ~20%.
• Full year 2025: Total revenue $594M - $596M, non-GAAP operating margin 2%-3%, net income per share $0.15 - $0.19, stock-based compensation $115M - $120M.
• Comfortable with Wall Street consensus for full year 2026 revenue and non-GAAP operating income.

Subscription revenue increased 27% year-over-year to $141 million. License revenue was $4 million, declining 64% due to contract rationalization and SaaS conversions. Professional services and other revenue was $9 million, up 38% year-over-year. International revenue grew 37% year-over-year, representing 34% of total revenue. Billings increased 20% year-over-year to $178 million. For the first 9 months, subscription revenue was up 29% to $400 million, total revenue up 23% to $438 million. AI bookings were up 60% year-over-year, and free cash flow for the first 9 months was $70 million.

• Risks associated with forward-looking statements, including known and unknown risks, uncertainties, assumptions. Potential impact of government shutdown on U.S. federal business. Competition in AI space and uncertainties around non-GAAP measure reconciliations for forward-looking figures.

Q: On federal dynamics, specifically renewals and future opportunity?

A: Billings mentioned SaaS conversions at big agencies impacted license revenue, but optimistic about federal opportunity going into 2026 after navigating the quarter.

Q: About AI adoption in finance, aligning with customer base and use cases?

A: Finance is embracing AI, with use cases like SensibleAI Forecast for prediction, Studio for additional analytics, and agents for autonomous financial work.

Q: On 2026 guidance, pipeline and conversion assumptions?

A: Pipeline is strong, with new products like Agile Financial Analytics and SensibleAI Forecast driving momentum, and confidence in 2026 due to best product portfolio and strong pipeline.

Q: Demand environment and NRR trends?

A: Add-ons were strong in Q3, multiproduct strategy working, with NRR showing incremental revenue from new products.

Q: EMEA growth, driver of replacement cycle?

A: More scale in EMEA, legacy application replacement opportunity, and strong product portfolio driving growth.

Q: AI bookings and pipeline for 2026?

A: AI portfolio including Forecast, Studio, and agents driving pipeline, with excitement around new product use cases.

Q: Agentic offerings, traction and pricing?

A: Agents like finance analyst agent have high interest, usage-based pricing expected, seen as incremental revenue for more efficient finance work.

Q: Traction in emerging applications outside core?

A: Interest in operational use cases like Agile Financial Analytics and modern financial close, with focus on verticalization and productized use cases.

Q: Feedback on agentic offerings and customer interest?

A: Finance analyst agent has high interest, with other agents like search and deep analysis also gaining traction, seen as workflow-enabling tools.

Q: Competitive displacements and growth vectors?

A: Focus on legacy replacement and CPM Express for commercial growth, with EMEA, Asia Pacific, and U.S. commercial business driving opportunities.

Q: Agentic AI interaction with other software firms?

A: Focus on being best in financial agentic space, with consideration of multi-agent orchestration but current focus on delivering value within OneStream's context.

Q: Government shutdown impact and FedRAMP?

A: Hoping government shutdown ends quickly, well-positioned with FedRAMP High certification and demand for AI capabilities in government.

Q: License, services, subscription balance?

A: Shift from license to SaaS expected, with PS&O showing growth, and run rate basis for PS&O business looking good.

Q: Sales team changes and investments?

A: Focus on scaling across product lines, with investments in sales and marketing to position AI innovation and CPM Express effectively.