OneStream aims to be the operating system for modern finance, offering a digital finance cloud with various financial functions. The company has seen a successful public debut, offering SaaS software with >30% sales growth while displaying on operating leverage. Despite solid growth and operating leverage, its high sales multiples and potentially higher stock-based compensation make me cautious here.
Detroit-area software provider OneStream, Inc. is having its initial public offering today. It is the latest tech company to go public this year and is a further sign that the IPO market, though still sluggish, is showing signs of life after a few lackluster years that saw fewer companies go public as economic and inflationary concerns rattled the markets.
Financial software firm OneStream (NASDAQ: OS ) just launched its initial public offering (IPO) to much fanfare. OS stock gained almost 30% in the early afternoon session amid a sign that the market for new public listings is steadily improving.
KKR-backed OneStream's shares rose nearly 30% in their Nasdaq debut on Wednesday, signaling investor demand for fresh offerings in 2024.
OneStream is attempting to raise $465.5 million in an initial public offering (IPO). The cloud-based enterprise finance platform revealed its plans in a filing with the Securities and Exchange Commission Monday (July 15).
OneStream is going public after deciding to raise $465.5 million that will value the company at $4.8 billion.