OneStream, Inc.

Thank you for standing by and welcome to OneStream's second quarter fiscal year 2025 earnings conference call. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star one one on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star one one again. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, and the vice president of investor relation and strategic finance. Please go ahead.

Thank you, operator. Good afternoon, everyone. Welcome to OneStream's second quarter 2025 earnings conference call. Joining me on the call today is our co-founder, CEO and president, Tom Shea, and our CFO, Bill Kofed. The press release announcing our second quarter 2025 results issued earlier today is posted on our investor relations website at .onestream.com along with an earnings highlight presentation. Before we get started, I'd like to let everyone know that we plan to participate in two conferences in the upcoming weeks. The first is Citi's Global TMT Conference in New York on September 4th. And the second is Goldman Sachs Communicopia and Technology Conference in San Francisco on September 10th. A live stream and replay of our presentations at the conferences were made available on our investor relations website. Now let me remind everyone that some of the statements on today's call are forward-looking, including those related to guidance for the third quarter ending September 30th, 2025, and the year ending December 31st, 2025. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors. Some of these risks are described in greater detail as the documents we file with the SEC from time to time, including our quarterly report on form 10Q for the quarter and the June 30th, 2025 that we filed today. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. During our call today, we will also reference certain non-GAP financial measures. There are limitations to our non-GAP measures, and they may not be comparable to similar little-titled measures of other companies. The non-GAP measures referenced on today's call should not be considered in isolation from or as a substitute for the most directly comparable GAP measures. Our management believes that our non-GAP measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses that may not be indicative of our ongoing core operating performance. Reconciliation of our historical non-GAP measures to the most directly comparable GAP measures can be found in this afternoon's press release and the earnings highlights presentation posted on our investor relations website. We are not able to provide reconciliations for forward-looking non-GAP measures without unreasonable effort because certain adjustments cannot be predicted with reasonable certainty and could be significant, particularly related to equity-based compensation and employee stock transactions and the related tax effects. Now I'll turn it over to Tom.

Tom? Thank you for joining us this afternoon. The second quarter of 2025, built on the momentum of Q1, was strong subscription revenue growth and record attendance at our Splash User Conference. We continued to focus and execute on our long-term vision to digitally empower the office of the CFO. We saw growth in our European business and our North American commercial business, even as we navigate near-term uncertainty in certain markets, particularly the U.S. federal public sector. Our second half pipeline remains healthy as our message continues to resonate in the market. Our focus on product and AI innovations has positioned OneStream to capitalize on our momentum and build long-term value for shareholders, customers, and employees. With that, let me recap our strong results for Q2. We had another quarter of solid execution as OneStream continues to replace legacy solutions worldwide. We achieved total revenue growth of 26 percent year over year, driven by strong subscription revenue growth of 30 percent year over year, and a free cash flow margin of 20 percent. SaaS conversions continued as our customers adopt version 9 of our platform, which delivers advances in performance, scalability, and capabilities. Our core finance platform continues to drive the majority of our revenue growth, and the early momentum of our recently launched CPM Express offering is enabling customers to access the power of our platform with the ease and speed of its implementation. This is helping us capture more of the large legacy replacement opportunity that we believe is just in its early innings. The investments customers are making in our core capabilities will ultimately unlock the significant value that our finance AI brings. We introduced some of our most advanced AI innovations at our splash conference in Nashville, including our enhanced sensible AI forecast, sensible AI studio, and sensible AI agents. More and more, customers are beginning to realize the unique and transformational value that OneStream's finance AI delivers. This is reflected by our more than 60 percent year over year growth in AI bookings for the first half of 2025, and the ROI our customers are experiencing. Adding to our leading market rankings from Gartner and IDC, OneStream's market leadership was again recognized this quarter through our exceptional results in BART's annual planning survey, where OneStream achieved 27 top rankings and 56 leading positions from the analyst firm. These proof points give us the confidence that our strategy is resonating with companies across the globe. These engines of our business continue to feed off three main drivers at the heart of our industry. Number one, finance is in the initial phase of its digital transformation. Having utilized outdated legacy financial systems for decades, CFOs are recognizing the crucial need for a platform to provide a single view into financial and operational data across the enterprise to effectively steer the business. Number two, the role of a CFO is evolving and expanding. CFOs are transitioning from focusing on reporting to providing more strategic insight and operational planning to help drive business execution. And number three, the use of advanced tooling is enabling finance teams to drive business performance, not only measure it. We are seeing a shift in customers looking for applied solutions that are purpose-built for finance. Proven AI solutions have the potential to give finance teams greater predictability and visibility into their business with more speed and agility. Taken together, these industry trends remain at the heart of our market opportunity, guiding our product roadmap, shaping our innovation, and expanding the value of our platform. And the second quarter was no different. Now let me recap our product innovations announced at Splash, including some of our most powerful advancements yet. We welcomed prospects and customers to the finance AI era and gave them a front row seat to the future of finance and OneStream's role in shaping it. Fundamental to our platform is our -and-play architecture, known as Genesis. As a refresher, Genesis consists of a no-code, -to-configure engine and library of reusable functionality, like dashboards, widgets, formulas, and workflows that can easily be snapped together to dramatically simplify and personalize a customer's OneStream experience. Genesis is now generally available, and there was so much interest from customers and partners that we had to create additional sessions so they could get their hands on the product and learn more. Splash reinforced how transformational AI can be when connected to a company's financial and operational data. We highlighted a number of global brands having significant success with Sensible AI Forecast, pushing their forecast accuracy as high as 95% to date. Sensible AI Forecast is just the first step in our AI journey. We also unveiled several new applied finance AI solutions tailored to the office of the CFO. Number one, Sensible AI Studio moved to general availability in June, and is a collection of algorithms or routines built to solve key finance and business process issues such as anomaly detection and trending analysis. These routines can be accessed in three ways. First, OneStream embeds them directly into existing solutions, like we did with anomaly detection within OneStream account reconciliation. Second, customers and partners can access these routines as genesis blocks, snagging them into their existing workflows. That means customers do not have to be programmers to build reports and applications on our platform. Third, developers can access the Sensible AI routine through REST APIs. Sensible AI Studio does all of this without the cost, complexity, or risk of standalone deployments. Already, we are seeing customers purchase Sensible AI Studio given its quick time to value. A great early example of this in Q2 was an existing commercial customer who chose to adopt Sensible AI Studio just a month after its release. With nearly a thousand dental centers, they wanted the ability to look across their portfolio to benchmark each one based on performance, key attributes, and other metrics. By harnessing our advanced machine learning algorithms delivered through Sensible AI Studio, they can now automatically flag outliers, whether unusually high expenses or unexpectedly low collection rates. This capability, which was not possible before, is enabling them to move from time-consuming manual reporting and analysis to leveraging automated insights that enable strategic action. This reflects our vision of a single platform with a -and-play architecture seamlessly connecting the core finance functions with advanced AI. Number two, we also introduced Sensible AI agents, which are currently under private preview with several customers. These include four agents, finance analyst, operations analyst, search analyst, and deep analysis. Embedded in one stream, these agents can be operated within workflows, data models, and security framework that our customers already know and trust. When asked the question, these agents can directly access validated financial and operational data within the platform to automate complex tasks, deliver deeper insights, and help organizations move faster with confidence. Perhaps the best way to describe our differentiated approach to finance AI is that we bring quantitative, generative, and agentic AI capabilities together into solutions that target the specific needs of CFOs, something no other company does. Before I highlight a few customer wins in Q2, there is one other pillar of our platform strategy that we are just beginning to accelerate into market. We call this Agile Financial Analytics, or AFA, which harmonizes transactional and fast-moving operational drivers with financial intelligence. This enables finance teams to, number one, monitor performance and drivers on a daily, weekly, and near real-time basis. Number two, model scenarios quickly. And number three, respond to changing dynamics with precision. We are beginning to embed AFA into our advanced planning solutions to empower finance to drive integrated planning that links back to financial objectives of the business. Once again, our customer wins this quarter reinforce the need for a modern, unified platform to enable agility in financial reporting and planning that scales to meet the needs of the world's largest companies. A Q2 example of this was a leading motion and control technology company that still relied on legacy and homegrown systems after multiple acquisitions over 20 years. As they embarked on their financial modernization journey, they were surprised to learn that more than half of their peers were already OneStream customers. They will be using our core consolidation capabilities to unify consolidation, management reporting, account reconciliations, and FP&A. While more customers embark on their journey with OneStream's core platform, some are beginning by also utilizing our advanced finance AI capabilities to realize efficiency gains and accelerate operational insights. Similar to Endeavor Energy, who was on stage at Splash, we saw another global industrial manufacturer add sensible AI forecast to its initial purchase of our core platform, replacing its legacy CPM solution. Under the direction of the CFO and CEO, AI-driven forecasting has become central to their strategy, providing the accuracy and agility needed to manage new tariff pressures and shifting global trade dynamics. We also had a significant core win with a major US government institution. This highlights the opportunity that exists for us in public sector, even as the current purchasing environment at the federal level remains dynamic. This organization was looking to modernize and streamline its legacy homegrown budgeting tool that could not meet its needs to scale and consolidate key processes. OneStream will allow their teams to move away from Excel, automating key reporting processes to drive efficiency and stronger team satisfaction. This is a landmark win for OneStream, which together with our recent FedRAMP high certification opens the door for future public sector expansion. This quarter, our North American commercial business performed well, driven in part by the growth of our CPM Express product. By reaching customers early in their financial journeys and getting them up and running in as little as 8 to 12 weeks, we are resetting historical expectations that CPM implantations are a heavy lift. CPM Express has given them a solid foundation from which to expand and gain access to OneStream's advanced solutions and AI technologies more quickly. One such customer was a fire protection and suppression provider that needed to transition from its former parent companies like CCPM System. They chose our CPM Express platform to modernize their finance processes in a condensed timeline. Within just two days, the company extracted metadata from the legacy environment and loaded it into CPM Express. The solution enabled them to complete the implementation within eight weeks and subsequently to expand their use cases within months of the initial deployment. These examples reinforce one simple truth. The OneStream platform is not only a catalyst for efficiency, precision, and proactive decision-making across the enterprise, but together with our embedded finance AI portfolio, it can be a game changer by delivering even more powerful insights at scale. In closing, it has been a year since we took the company public. Today, I'm even more excited about our future and the clear value OneStream brings to finance teams. We have made incredible progress, and our customers are beginning to see the value of our growing applied finance AI portfolio. And we are just getting started. We have a clear vision, strong momentum, and a team that is more energized than ever to take finance further. Thank you. Now I will turn the call over to Bill to provide details on Q2 financials and our financial guidance. Thanks, Tom.