Technology
OneStream Announces Fourth Quarter and Fiscal Year 2024 Financial Results
Published
2 years agoon
By
BIRMINGHAM, Mich., Feb. 11, 2025 /PRNewswire/ — OneStream, Inc. (Nasdaq: OS), the leading enterprise Finance management platform that modernizes the Office of the CFO by unifying core finance and operational functions — including financial close, consolidation, reporting, planning and forecasting — today announced financial results for its fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights
Total Revenue: $132.5 million, an increase of 29% year-over-year.
Subscription Revenue: $118.6 million, an increase of 35% year-over-year.
GAAP Operating Income / Loss and Operating Margin: GAAP operating loss was $47.4 million compared to income of $0.2 million for the fourth quarter of 2023, and GAAP operating margin was (36%) compared to 0% for the fourth quarter of 2023. This included equity-based compensation expense of $52.6 million, compared to $1.2 million for the fourth quarter of 2023.
Non-GAAP Operating Income and Non-GAAP Operating Margin: Non-GAAP operating income was $8.7 million compared to $1.4 million for the fourth quarter of 2023, and non-GAAP operating margin was 7% compared to 1% for the fourth quarter of 2023.
GAAP Net Loss Per Share – Basic: GAAP basic net loss per share was ($0.19).
Non-GAAP Net Income Per Share: Non-GAAP net income per share was $0.07.
Net Cash Provided by Operating Activities: Net cash provided by operating activities was $25.1 million compared to $26.8 million for the fourth quarter of 2023.
Free Cash Flow: Free cash flow was $24.7 million compared to $26.6 million for the fourth quarter of 2023.
Fiscal Year 2024 Financial Highlights
Total Revenue: $489.4 million, an increase of 31% year-over-year.
Subscription Revenue: $428.2 million, an increase of 41% year-over-year.
GAAP Operating Loss and Operating Margin: GAAP operating loss was $319.5 million compared to $30.5 million for 2023, and GAAP operating margin was (65%) compared to (8%) for 2023. This included equity-based compensation expense of $316.4 million, compared to $8.3 million for 2023.
Non-GAAP Operating Income / Loss and Non-GAAP Operating Margin: Non-GAAP operating income was $1.2 million compared to a loss of $22.2 million for 2023, and non-GAAP operating margin was 0% compared to (6%) for 2023.
GAAP Net Loss Per Share – Basic: GAAP basic net loss per share was ($1.23).
Non-GAAP Net Income Per Share: Non-GAAP net income per share was $0.14.
Net Cash Provided by Operating Activities: Net cash provided by operating activities was $61.2 million compared to $21.3 million for 2023.
Free Cash Flow: Free cash flow was $58.5 million compared to $18.7 million for 2023.
“Capping a year of incredible innovation and solid execution, we posted 35% year-over-year subscription revenue growth in the fourth quarter, and were free cash flow positive and non-GAAP profitable,” said Tom Shea, CEO of OneStream. “In fact, 2024 was one of the most transformative years in our history, with the introduction of 15 new innovations, highlighted by our growing Finance AI portfolio. We’re excited to bring new products to market in 2025, paving the way for OneStream to become the operating system for modern Finance.”
Recent Developments and Business Highlights
Innovation
As part of the new innovations for Finance AI and core finance, we unveiled a suite of AI-powered solutions, including GenAI and machine learning, which enable Finance leaders to create real-time forecasts from trusted Enterprise data, with greater accuracy and speed.
We launched CPM Express with pre-built functionality of our core capabilities to simplify reporting and forecasting and enable 6 to 8 week implementations.
We introduced our first integrated business planning product for sales performance management in partnership with Infinity SPM.
We grew our strategic relationship with Microsoft, launching deeper integrations into the Office 365 Suite, including Certified Power BI connector and Narrative Reporting to make financial reporting more integrated, collaborative and iterative.
At our Wave Developer Conference in November 2024, we previewed AI-powered anomaly detection and scenario modeling capabilities that can help uncover errors in real-time and create scenarios from a company’s own financial and operational data set.
Industry Recognition
OneStream was recognized for the third consecutive year as a Leader in the Gartner® Magic Quadrant™ for Financial Planning Software. Gartner evaluated providers based on their Ability to Execute and Completeness of Vision and placed OneStream in the Leaders Quadrant once again.
OneStream was named a leader in IDC’s Record to Report MarketScape, based on reporting strengths, including a robust AI roadmap and OneStream Solution Exchange, and the Microsoft Certified Power BI Connector.
ISG Software Research recognized OneStream as Exemplary in their Business Planning Buyers Guide for 2024, with the highest overall rating across all vendors. In the report, OneStream received top scores in Product Experience, Adaptability, Capability, and Manageability.
OneStream was a 2024 Business Intelligence Artificial Excellence Award winner in the Product – Machine Learning category and a 2024 AI Breakthrough Awards Winner – Machine Learning Innovation Award for sensible machine learning.
Business
In November 2024, OneStream completed a secondary offering of 17,250,000 shares of its Class A common stock sold by certain stockholders, including the full exercise of the underwriters’ option to purchase additional shares (the “Secondary Offering”). OneStream did not receive any proceeds from the sale of shares by the selling stockholders in the public offering. OneStream used all of the net proceeds to it from the public offering to purchase issued and outstanding LLC units of OneStream Software LLC (and purchase and cancel an equal number of shares of Class C common stock) as part of a non-dilutive “synthetic secondary” transaction. Accordingly, OneStream did not retain any proceeds from the Secondary Offering and, upon its closing, the total number of outstanding shares of common stock of OneStream and LLC units of OneStream Software LLC remained the same.
Financial Outlook
OneStream is providing the following guidance for the first quarter of 2025 and fiscal year 2025:
Q1’25
FY25
Total Revenue
$130M – $132M
$583M – $587M
Non-GAAP Operating Margin
(9%) – (7%)
(1%) – 1%
Non-GAAP Net Income / (Loss) per Share
($0.04) – ($0.02)
$0.01 – $0.09
Equity-Based Compensation
$45M – $50M
$125M – $135M
OneStream has not provided a reconciliation of its forward outlook for non-GAAP operating margin and non-GAAP net income / (loss) per share to their most directly comparable GAAP financial measures in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. OneStream is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to equity-based compensation and employee stock transactions and the related tax effects.
Earnings Webcast Information
OneStream will host a conference call for analysts and investors to discuss its financial results for the fourth quarter and fiscal year 2024 and its outlook for the first quarter of 2025 and fiscal year 2025 today at 4:30 p.m. Eastern time / 1:30 p.m. Pacific time. A webcast replay will be available on the Investor Relations Section of OneStream’s website following the call.
Date:
Tuesday, February 11, 2025
Time:
4:30 p.m. ET / 1:30 p.m. PT
Webcast:
https://investor.onestream.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our business strategy and future growth, including statements regarding our Finance AI portfolio, CPM Express and Infinity SPM products, AI-powered anomaly detection and scenario modeling capabilities, and our guidance for total revenue, non-GAAP operating margin, non-GAAP net income / (loss) per share and equity-based compensation for the first quarter of 2025 and fiscal year 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 in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which we filed with the Securities and Exchange Commission on November 7, 2024. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements we may make. These factors may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not rely on these statements or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. 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.
Non-GAAP Financial Measures
In addition to GAAP financial measures, this press release includes non-GAAP financial measures that we use to help us evaluate our business, identify trends affecting our business, formulate business plans and make strategic decisions. These non-GAAP financial measures include non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income per share and free cash flow, and their respective definitions are presented below.
There are limitations to the non-GAAP financial measures included in this press release, and they may not be comparable to similarly titled measures of other companies. The non-GAAP financial measures included in this press release should not be considered in isolation from or as a substitute for their most directly comparable GAAP financial measures. Our management believes that our non-GAAP financial 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. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and when planning, forecasting and analyzing future periods.
For a reconciliation of the non-GAAP financial measures presented for historical periods to their most directly comparable GAAP financial measures, please see the tables captioned “Reconciliation of Non-GAAP Financial Measures” included at the end of this press release. We encourage you to review the reconciliation in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future periods, we may exclude similar items, may incur income and expenses similar to these excluded items and may include other expenses, costs and non-recurring items.
Non-GAAP Operating Income (Loss)
We define non-GAAP operating income (loss) as income / loss from operations adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions, Secondary Offering costs and amortization of acquired intangible assets.
Non-GAAP Operating Margin
We define non-GAAP operating margin as non-GAAP operating income (loss) as a percentage of total revenue.
Non-GAAP Net Income (Loss)
We define non-GAAP net income (loss) as net income / loss adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions, Secondary Offering costs and amortization of acquired intangible assets.
Non-GAAP Net Income (Loss) Per Share
We define non-GAAP net income (loss) per share as basic net loss per share adjusted for non-cash, non-operational and non-recurring items, including equity-based compensation expense, employer taxes on employee stock transactions, Secondary Offering costs, amortization of acquired intangible assets and net loss attributable to non-controlling interests.
Free Cash Flow
We define free cash flow as net cash provided by operating activities less purchases of property and equipment.
About OneStream
OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution.
We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve.
With over 1,600 customers, including 17% of the Fortune 500, more than 300 go-to-market, implementation, and development partners and over 1,500 employees, our vision is to be the operating system for modern finance. To learn more, visit onestream.com.
Investor Relations Contacts
INVESTOR CONTACT
Anne Leschin
VP, Investor Relations and Strategic Finance
OneStream
investors@onestreamsoftware.com
MEDIA CONTACT
Victoria Borges
Media Relations Contact
OneStream
media@onestreamsoftware.com
CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)
As of
December 31,
2024
December 31,
2023
Assets
Current assets:
Cash and cash equivalents
$
544,174
$
117,087
Accounts receivable, net
129,014
107,308
Unbilled accounts receivable
23,294
31,519
Deferred commissions
20,682
17,225
Prepaid expenses and other current assets
20,202
13,098
Total current assets
737,366
286,237
Unbilled accounts receivable, noncurrent
800
2,009
Deferred commissions, noncurrent
44,228
41,030
Operating lease right-of-use assets
16,705
18,559
Property and equipment, net
10,084
10,266
Intangible assets, net
2,567
—
Goodwill
9,280
—
Other noncurrent assets
2,191
3,458
Total assets
$
823,221
$
361,559
Liabilities and stockholders’ / members’ equity
Current liabilities:
Accounts payable
$
19,563
$
8,274
Accrued compensation
27,543
22,436
Accrued commissions
9,007
10,158
Deferred revenue, current
239,291
177,465
Operating lease liabilities, current
3,237
2,505
Other accrued expenses and current liabilities
13,534
11,532
Total current liabilities
312,175
232,370
Deferred revenue, noncurrent
4,515
5,141
Operating lease liabilities, noncurrent
15,357
17,522
Other noncurrent liabilities
216
—
Total liabilities
332,263
255,033
Stockholders’ / members’ equity:
Members’ interest
—
281,306
Preferred stock, $0.0001 par value, 100,000,000 shares authorized, no shares issued or outstanding as of December 31, 2024
—
—
Class A common stock, $0.0001 par value, 2,500,000,000 shares authorized, 51,456,091 shares issued and outstanding as of December 31, 2024
5
—
Class B common stock, $0.0001 par value, 300,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024
—
—
Class C common stock(1), $0.0001 par value, 300,000,000 shares authorized, 63,929,619 shares issued and outstanding as of December 31, 2024
6
—
Class D common stock(1), $0.0001 par value, 600,000,000 shares authorized, 122,196,307 shares issued and outstanding as of December 31, 2024
12
—
Additional paid-in capital
718,084
—
Accumulated other comprehensive loss
(599)
(625)
Accumulated deficit
(331,334)
(174,155)
Total stockholders’ equity attributable to OneStream, Inc. / members’ equity
386,174
106,526
Non-controlling interests
104,784
—
Total stockholders’ / members’ equity
490,958
106,526
Total liabilities and stockholders’ / members’ equity
$
823,221
$
361,559
(1) Each share of Class C common stock is convertible at any time at the option of the holder into one share of Class B common stock, and each share of Class D common stock is convertible at any time at the option of the holder into one share of Class A common stock.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
(Unaudited)
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
Revenues:
Subscription
$
118,608
$
87,583
$
428,150
$
302,923
License
6,961
7,579
31,779
40,518
Professional services and other
6,906
7,432
29,478
31,480
Total revenue
132,475
102,594
489,407
374,921
Cost of revenues:
Subscription(2)
30,907
20,899
112,914
74,146
Professional services and other(2)
13,018
9,587
66,415
40,356
Total cost of revenue
43,925
30,486
179,329
114,502
Gross profit
88,550
72,108
310,078
260,419
Operating expenses:
Sales and marketing(2)
65,618
39,554
328,843
175,795
Research and development(2)
36,896
15,675
156,812
55,289
General and administrative(2)
33,442
16,671
143,951
59,847
Total operating expenses
135,956
71,900
629,606
290,931
(Loss) income from operations
(47,406)
208
(319,528)
(30,512)
Interest income, net
5,929
1,360
14,248
4,062
Other (expense) income, net
(1,765)
1,829
498
(1,065)
(Loss) income before income taxes
(43,242)
3,397
(304,782)
(27,515)
Provision for income taxes
1,263
646
1,877
1,416
Net (loss) income
$
(44,505)
$
2,751
$
(306,659)
$
(28,931)
Less: Net loss attributable to non-controlling interests
(13,056)
—
(90,458)
—
Net (loss) income attributable to OneStream, Inc.
$
(31,449)
$
2,751
$
(216,201)
$
(28,931)
Net loss per share of Class A and Class D common stock–basic(1)
$
(0.19)
$
(1.23)
Net loss per share of Class A and Class D common stock–diluted(1)
$
(0.19)
$
(1.25)
Weighted-average shares of Class A and Class D common stock outstanding–basic(1)
165,844
163,469
Weighted-average shares of Class A and Class D common stock outstanding–diluted(1)
234,644
234,043
(1) Represents net loss per share of Class A common stock and Class D common stock and weighted-average shares of Class A common stock and Class D common stock outstanding for the period following OneStream Inc.’s IPO and related reorganization transactions.
(2) Includes equity-based compensation expense as follows:
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
Cost of subscription
$
958
$
—
$
5,939
$
—
Cost of professional services and other
2,985
—
24,871
15
Sales and marketing
19,228
356
135,215
3,938
Research and development
14,421
105
77,926
518
General and administrative
14,990
722
72,446
3,799
Total equity-based compensation
$
52,582
$
1,183
$
316,397
$
8,270
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(Unaudited)
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
Cash flows from operating activities:
Net (loss) income
$
(44,505)
$
2,751
$
(306,659)
$
(28,931)
Adjustments to reconcile net (loss) income to net cash provided by
operating activities:
Depreciation and amortization
1,069
657
3,655
2,887
Noncash operating lease expense
605
764
2,908
2,433
Amortization of deferred commissions
5,234
4,316
20,440
16,977
Equity-based compensation
52,582
1,183
316,397
8,270
Other noncash operating activities, net
422
69
(980)
3,249
Changes in operating assets and liabilities:
Accounts receivable, net
(14,328)
(3,169)
(13,361)
(11,668)
Deferred commissions
(8,485)
(10,673)
(27,095)
(26,381)
Prepaid expenses and other assets
(7,882)
(3,564)
(9,277)
(9,971)
Accounts payable
826
(5,285)
16,546
(11,644)
Deferred revenue
33,850
32,935
61,199
66,233
Accrued and other liabilities
5,750
6,811
(2,621)
9,811
Net cash provided by operating activities
25,138
26,795
61,152
21,265
Cash flows from investing activities:
Purchases of property and equipment
(441)
(222)
(2,618)
(2,589)
Acquisition of business, net of cash acquired
—
—
(7,594)
—
Sales of marketable securities
—
—
—
87,339
Net cash (used in) provided by investing activities
(441)
(222)
(10,212)
84,750
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions
—
—
409,598
—
Repurchases of LLC Units
(206,709)
—
(263,372)
—
Payments of deferred offering costs
(494)
—
(5,437)
—
Proceeds from Secondary Offering
206,709
—
206,709
—
Proceeds from option exercises
25,014
—
28,955
247
Payments of deferred financing costs
—
(546)
—
(546)
Repayments of borrowings on revolving credit facility
—
—
—
(3,500)
Principal payments on finance lease obligation
—
—
—
(46)
Net cash provided by (used in) financing activities
24,520
(546)
376,453
(3,845)
Effect of exchange rate changes on cash and cash equivalents
(501)
324
(306)
230
Net increase in cash and cash equivalents
48,716
26,351
427,087
102,400
Cash and cash equivalents – Beginning of period
495,458
90,736
117,087
14,687
Cash and cash equivalents – End of period
$
544,174
$
117,087
$
544,174
$
117,087
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Unaudited)
Non-GAAP Operating Income (Loss)
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
(in thousands)
(Loss) income from operations
$
(47,406)
$
208
$
(319,528)
$
(30,512)
Equity-based compensation expense
52,582
1,183
316,397
8,270
Employer taxes on employee stock transactions
1,904
—
2,297
—
Secondary Offering costs
1,325
—
1,325
—
Amortization of acquired intangible assets
275
—
733
—
Non-GAAP operating income (loss)
$
8,680
$
1,391
$
1,224
$
(22,242)
Non-GAAP Operating Margin
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
(in thousands)
Operating margin
(36)
%
—
(65)
%
(8)
%
Equity-based compensation expense
40
%
1
%
65
%
2
%
Employer taxes on employee stock transactions
1
%
—
—
—
Secondary Offering costs
1
%
—
—
—
Amortization of acquired intangible assets
—
—
—
—
Non-GAAP operating margin(1)
7
%
1
%
—
(6)
%
(1) Non-GAAP operating margin may not foot due to rounding.
Non-GAAP Net Income (Loss)
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
(in thousands)
Net (loss) income
$
(44,505)
$
2,751
$
(306,659)
$
(28,931)
Equity-based compensation expense
52,582
1,183
316,397
8,270
Employer taxes on employee stock transactions
1,904
—
2,297
—
Secondary Offering costs
1,325
—
1,325
—
Amortization of acquired intangible assets
275
—
733
—
Non-GAAP net income (loss)
$
11,581
$
3,934
$
14,093
$
(20,661)
Non-GAAP Net Income Per Share
Three Months Ended
December 31, 2024
Year Ended
December 31, 2024
Net loss per share–basic
$
(0.19)
$
(1.23)
Equity-based compensation expense
0.32
1.91
Employer taxes on employee stock transactions
0.01
0.01
Secondary Offering costs
0.01
0.01
Amortization of acquired intangible assets
—
—
Net loss attributable to non-controlling interests
(0.08)
(0.55)
Non-GAAP net income per share(1)
$
0.07
$
0.14
(1) Non-GAAP net income per share may not foot due to rounding.
Free Cash Flow
Three Months Ended December 31,
Year Ended December 31,
2024
2023
2024
2023
(in thousands)
Net cash provided by operating activities
$
25,138
$
26,795
$
61,152
$
21,265
Purchases of property and equipment
(441)
(222)
(2,618)
(2,589)
Free cash flow
24,697
26,573
58,534
18,676
Net cash (used in) provided by investing activities
$
(441)
$
(222)
$
(10,212)
$
84,750
Net cash provided by (used in) financing activities
$
24,520
$
(546)
$
376,453
$
(3,845)
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SOURCE OneStream, Inc.
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GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.
The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.
Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.
Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.
Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.
Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.
He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.
SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.
The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.
Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.
Registration for participants from within and outside the Kingdom is available at gsts.sa.
Click here to view the media kit.
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Technology
Axon Announces Body 5: Next-Generation Camera Built for the AI Era
Published
8 hours agoon
October 24, 2026By
Axon Body 5 delivers 25x the AI processing power of earlier-generation cameras, with upgraded connectivity, audio and battery life to support real-time situational awareness in the field
SCOTTSDALE, Ariz., Oct. 24, 2026 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in public safety technology, today announced Axon Body 5, its newest body-worn camera designed to bring more powerful intelligence, connectivity and real-time support directly to officers in the field.
For years, Axon body cameras have helped agencies capture critical evidence and create greater transparency. Body 5 is built to help officers during the call, with information, assistance and backup on the spot.
“Officers shouldn’t have to choose between getting information and watching the scene. With Axon Body 5, they don’t,” said Rick Smith, Axon Founder and CEO. “They capture a license or document with the camera, keep their hands free and eyes up, and get information faster than writing it down and calling it in by radio. An officer fully engaged with the person in front of them, not down at a notepad, is a safer officer and a better-served community.”
Axon Body 5: Built for the AI Era
Built from the ground up for the AI era, Axon Body 5 delivers 25x the AI processing power than earlier generation Axon body cameras, alongside advancements in connectivity, audio, video and battery life. Together, these upgrades give the camera the physical power to run smarter AI features — both today and as new AI tools are developed in the future — while also making it more dependable for officers to use every day.
For the first time, Axon is also introducing two versions of its latest flagship camera: Axon Body 5 and Axon Body 5 Pro.
Both models feature several key advancements, including:
25x more processing power for AI: A powerful new computing architecture creates the capacity to support current and future AI features directly on the body camera.Enhanced video: Improved video captures clearer evidence across challenging environments, including better low-light performance.Improved connectivity: Seamless connectivity in urban and remote environments – and more precise location capability – helps officers, cameras and remote support teams stay connected when timely information matters most.Longer battery life: 20% more battery life than the previous generation helps keep the camera ready and connected throughout an officer’s shift.
The Axon Body 5 Pro will continue to gain new AI capabilities as they become available, growing along with the AI Era Plan. Additionally, new hardware features include:
A near-focus camera: An additional dedicated camera lens lets officers scan driver’s licenses to check status and search for wants or warrants in seconds, without returning to the patrol vehicle, with relevant information sent to Axon Fusus to support real-time operations.Front-facing speakers: Four additional speakers project even more powerful audio toward the person an officer is speaking with, helping real-time translations from Axon Assistant carry more clearly over heavy traffic or crowd noise. Additional memory: Extra space lets the camera run several AI tools at once, helping officers stay better informed and work faster.
Bringing More of Axon’s AI Era Into the Field
Axon Body 5 helps officers get more out of the Axon AI Era Plan by bringing smart tools right to the scene. Axon’s portfolio already supports public safety professionals across a growing range of tasks. For example, Draft One helps officers turn body-camera audio into high-quality report drafts and Axon Assistant provides voice-based information access and real-time translation.
Increasingly, Axon is also bringing AI into real-time operations.
Axon Guardian is a new category of AI features within the AI Era Plan that was specifically created to work with an officer’s field-based devices – starting with body cameras and in-car cameras – to improve safety. Guardian is designed to flag potential risks as situations unfold and create alerts when additional attention may be needed. Two of the first features include:
Escalation Detection: When an Axon Body 4 or Axon Body 5 camera is activated and recording, Guardian has the ability to detect potential conflicts in real time and create an alert in Axon Fusus. A human reviews the livestream and decides if additional support or action is needed.Approach Alert: When active on Axon Fleet 3, Guardian can detect if the door of a stopped vehicle opens and alert the officer through the in-car display and their body-worn camera.
Combined, Axon Body 5 and the expanding AI Era portfolio demonstrate the importance of AI as a critical resource to assist public safety professionals before, during and after an incident — reducing administrative burden, improving situational awareness and helping protect more lives.
Innovating Responsibly
Axon’s Responsible Innovation framework guides the development of all of its products. Designed with this in mind, Axon Body 5 and Guardian prioritize human oversight and maintain agency control over data. As a key part of the responsible innovation process, Axon’s independent Ethics and Equity Advisory Council was created to help responsibly develop and deploy new technologies with transparency, while aligning with community expectations.
General availability dates for Axon Body 5 and Axon Guardian will be announced soon. Product features and capabilities vary by configuration. For more information on Axon’s current products and services: Axon Product Catalog – Axon.com.
About Axon
Axon (Nasdaq: AXON) is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility. From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services. Learn more about the EEAC and Axon’s Responsible Innovation framework at Axon Responsibility.
Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.
Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.
Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com
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SOURCE Axon
Technology
In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design
Published
9 hours agoon
October 24, 2026By
The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.
ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.
The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.
The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.
Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.
The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.
Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.
Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.
Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.
The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.
As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.
A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.
About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.
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SOURCE HelloNation
Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event
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