Humorous Tales from the CFO's Expense Reports

Bill Koefoed, CFO of OneStream Software, sits down with CJ for an in-depth look at the company’s recent IPO journey. Bill sheds light on the events that resulted in OneStream's stock soaring from $20 to $27, a 34% leap, on day one despite market uncertainties. He shares insights on the decision-making process leading up to going public, the challenges faced during their roadshow, and the unique experiences they had along the way. He also delves into building the book for investors and the metrics OneStream prioritizes. With experience at Microsoft, Bill discusses what it was like working in their investor relations, his time with Steve Ballmer, and his role in Microsoft’s acquisition of Skype. He shares lessons from his journey on transparency, handling tough news, and the qualities that set extraordinary CFOs apart. This episode provides a comprehensive look at the intricacies of taking a company public and the ongoing responsibilities of a public company CFO.

If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

—

SPONSORS:

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today.

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

NetSuite provides financial software for all your business needs. More than 40,000 companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅, head to NetSuite https://netsuite.com/metrics and get the CFO’s Guide to AI and Machine Learning.

Operators Guild is where the best CEOs, CFOs, VPs of finance, and BizOps leaders in the business connect, network, and grow together. Built by operators for operators, this members-only community is home to more than 1000 of the most elite high-growth operators in the world. Experience connection and knowledge share with professionals who understand you like no one else does. Learn more and apply at operators-guild.com.

—

FOLLOW US ON X:

@cjgustafson222 (CJ)

—

TIMESTAMPS:

(00:00) Preview and Intro

(02:21) Sponsor – Maxio | Leapfin

(04:49) How OneStream Software Decided to Go Public

(07:16) The Pros of Going Public When No One Else Is

(07:48) Metrics and Criteria for IPO Readiness

(08:59) The State of the Market on the Day OneStream Software Went Public

(11:11) The Art and Part Science of a Day-One IPO Pop

(15:31) Building the Book for Investors

(18:02) Sponsor – Mercury | NetSuite | Operators Guild

(21:31) The Mix Between Long-Only and Hedge Funds

(22:55) What Matters the Most in IPO Prep

(28:17) Why Bill Shares ARR and NRR Metrics to the Public

(30:42) The Most Important Metric for a SaaS Company

(31:46) Learnings as a Public Company CFO

(34:27) Bill’s Learnings from Investor Relations at Microsoft

(37:14) Working with Steve Ballmer

(37:34) The Acquisition of Skype

(41:12) The Most Critical Moments on Bill’s Path to CFO

(43:23) The Qualities That Differentiate Great CFOs

(44:55) Long-Ass Lightning Round: The Skill of Asking for Help

(48:11) Finance Software Stack

(50:48) Craziest Expense Story