ON24 Announces Second Quarter 2024 Financial Results
ON24 (NYSE: ONTF) announced its Q2 2024 financial results, reporting a total revenue of $37.3 million and Core Platform revenue of $36.5 million. The company achieved positive free cash flow for the second consecutive quarter and exceeded profitability targets for the fifth consecutive quarter. Core Platform Annual Recurring Revenue (ARR) was $131.0 million, contributing to a total ARR of $133.7 million. GAAP operating loss was $13.1 million, an improvement from the $15.8 million loss in Q2 2023. Non-GAAP net income was $1.5 million, or $0.03 per diluted share. Adjusted EBITDA reached $0.8 million. The financial outlook for Q3 forecasts total revenue between $35.0 million and $36.0 million and a non-GAAP operating loss between $2.3 million and $1.3 million.
ON24 (NYSE: ONTF) ha annunciato i risultati finanziari per il secondo trimestre del 2024, riportando un fatturato totale di 37,3 milioni di dollari e un fatturato della piattaforma principale di 36,5 milioni di dollari. L'azienda ha registrato un flusso di cassa libero positivo per il secondo trimestre consecutivo e ha superato gli obiettivi di redditività per il quinto trimestre consecutivo. Il fatturato annuale ricorrente (ARR) della piattaforma principale è stato di 131,0 milioni di dollari, contribuendo a un ARR totale di 133,7 milioni di dollari. La perdita operativa secondo i principi contabili generalmente accettati (GAAP) è stata di 13,1 milioni di dollari, un miglioramento rispetto alla perdita di 15,8 milioni di dollari nel secondo trimestre del 2023. L'utile netto non GAAP è stato di 1,5 milioni di dollari, ovvero 0,03 dollari per azione diluita. L'EBITDA rettificato ha raggiunto 0,8 milioni di dollari. Le previsioni finanziarie per il terzo trimestre prevedono un fatturato totale compreso tra 35,0 milioni e 36,0 milioni di dollari e una perdita operativa non GAAP compresa tra 2,3 milioni e 1,3 milioni di dollari.
ON24 (NYSE: ONTF) anunció los resultados financieros del segundo trimestre de 2024, reportando ingresos totales de 37,3 millones de dólares y ingresos de la plataforma principal de 36,5 millones de dólares. La compañía logró un flujo de caja libre positivo por segundo trimestre consecutivo y superó las metas de rentabilidad por quinto trimestre seguido. Los ingresos anuales recurrentes (ARR) de la plataforma principal fueron de 131,0 millones de dólares, contribuyendo a un ARR total de 133,7 millones de dólares. La pérdida operativa bajo principios contables generalmente aceptados (GAAP) fue de 13,1 millones de dólares, mejorando la pérdida de 15,8 millones de dólares en el segundo trimestre de 2023. La utilidad neta no GAAP fue de 1,5 millones de dólares, o 0,03 dólares por acción diluida. El EBITDA ajustado alcanzó 0,8 millones de dólares. Las proyecciones financieras para el tercer trimestre pronostican ingresos totales entre 35,0 millones y 36,0 millones de dólares y una pérdida operativa no GAAP entre 2,3 millones y 1,3 millones de dólares.
ON24 (NYSE: ONTF)는 2024년 2분기 재무 결과를 발표하며 총 수익 3730만 달러와 코어 플랫폼 수익 3650만 달러를 보고했습니다. 이 회사는 두 번째 분기 연속으로 긍정적인 자유 현금 흐름을 달성했으며, 다섯 번째 연속 분기 동안 수익성 목표를 초과했습니다. 코어 플랫폼의 연간 반복 수익(ARR)은 1억 3100만 달러였으며, 총 ARR은 1억 3370만 달러에 기여했습니다. GAAP 운영 손실은 1310만 달러로, 2023년 2분기의 1580만 달러 손실에서 개선되었습니다. 비 GAAP 순이익은 150만 달러, 즉 희석 주당 0.03 달러였습니다. 조정된 EBITDA는 80만 달러에 도달했습니다. 3분기의 재무 전망은 총 수익이 3500만 달러에서 3600만 달러 사이와 비 GAAP 운영 손실이 230만 달러에서 130만 달러 사이로 예측하고 있습니다.
ON24 (NYSE: ONTF) a annoncé ses résultats financiers pour le deuxième trimestre 2024, rapportant un chiffre d'affaires total de 37,3 millions de dollars et un chiffre d'affaires de la plateforme principale de 36,5 millions de dollars. L'entreprise a enregistré un flux de trésorerie disponible positif pour le deuxième trimestre consécutif et a dépassé les objectifs de rentabilité pour le cinquième trimestre consécutif. Les revenus annuels récurrents (ARR) de la plateforme principale se sont élevés à 131,0 millions de dollars, contribuant à un ARR total de 133,7 millions de dollars. La perte opérationnelle selon les principes comptables généralement reconnus (GAAP) était de 13,1 millions de dollars, soit une amélioration par rapport à la perte de 15,8 millions de dollars au deuxième trimestre 2023. Le bénéfice net non GAAP était de 1,5 million de dollars, soit 0,03 dollar par action diluée. L'EBITDA ajusté a atteint 0,8 million de dollars. Les prévisions financières pour le troisième trimestre prévoient un chiffre d'affaires total entre 35,0 millions et 36,0 millions de dollars et une perte opérationnelle non GAAP entre 2,3 millions et 1,3 million de dollars.
ON24 (NYSE: ONTF) hat seine finanziellen Ergebnisse für das zweite Quartal 2024 bekannt gegeben und einen Gesamtumsatz von 37,3 Millionen Dollar sowie einen Umsatz der Kernplattform von 36,5 Millionen Dollar gemeldet. Das Unternehmen erzielte im zweiten Quartal in Folge einen positiven freien Cashflow und hat die Rentabilitätsziele nun bereits im fünften Quartal in Folge überschritten. Der jährliche wiederkehrende Umsatz (ARR) der Kernplattform betrug 131,0 Millionen Dollar und trug zu einem Gesamt-ARR von 133,7 Millionen Dollar bei. Der operative Verlust gemäß den allgemein anerkannten Rechnungslegungsgrundsätzen (GAAP) belief sich auf 13,1 Millionen Dollar, eine Verbesserung gegenüber dem Verlust von 15,8 Millionen Dollar im zweiten Quartal 2023. Der Nettoertrag nach Non-GAAP betrug 1,5 Millionen Dollar bzw. 0,03 Dollar pro verwässerter Aktie. Das bereinigte EBITDA erreichte 0,8 Millionen Dollar. Der finanzielle Ausblick für das dritte Quartal prognostiziert einen Gesamtumsatz zwischen 35,0 Millionen und 36,0 Millionen Dollar sowie einen Non-GAAP-Betriebsverlust zwischen 2,3 Millionen und 1,3 Millionen Dollar.
- Exceeded profitability targets for the fifth consecutive quarter.
- Generated positive free cash flow for the second consecutive quarter.
- Improved GAAP operating loss to $13.1 million from $15.8 million in Q2 2023.
- Non-GAAP net income of $1.5 million, or $0.03 per diluted share.
- Adjusted EBITDA of $0.8 million.
- Core Platform ARR of $131.0 million.
- GAAP operating loss of $13.1 million.
- GAAP net loss of $11.2 million, or $(0.27) per diluted share.
- Forecasts a non-GAAP operating loss between $2.3 million and $1.3 million for Q3 2024.
Insights
ON24's Q2 2024 results show mixed signals. Total revenue of
The positive free cash flow of
The sequential improvement in gross retention and growth in AI-powered ACE ARR are positive indicators. However, the projected Q3 2024 revenue decline to
ON24's focus on AI-powered offerings is a strategic move in the B2B sales and marketing space. The growth of their AI-powered ACE ARR to high teens as a percentage of growth ARR indicates market traction for these innovative solutions. This aligns with the industry trend of integrating AI into engagement platforms to enhance personalization and efficiency.
The company's next-generation platform, driving the AI-powered offerings, appears to be gaining momentum. This could be a key differentiator in the competitive digital engagement market. However, the overall ARR growth seems modest, suggesting that while AI adoption is promising, it hasn't yet translated into substantial overall growth.
ON24's positioning as "the AI platform for intelligent digital engagement" is ambitious. To fulfill this vision, they'll need to demonstrate clear AI-driven value propositions and continue innovating to stay ahead in the rapidly evolving AI landscape.
ON24's Q2 results reflect broader market trends in the B2B SaaS sector. The improved gross retention is a positive sign, indicating better customer satisfaction and potentially reduced churn. This is important in the current economic climate where businesses are scrutinizing their tech stacks.
The growth in life sciences and financial services verticals is noteworthy, suggesting ON24 is finding traction in these sectors. However, the overall modest growth indicates challenges in expanding market share or average customer spend.
The emphasis on AI and next-gen platform adoption aligns with market demands for more intelligent, data-driven engagement solutions. The high-teens percentage of growth ARR from AI-powered offerings suggests early adopters are seeing value, but wider market penetration may take time.
ON24's focus on profitable growth rather than growth at all costs reflects a shift in investor sentiment towards SaaS companies, favoring efficiency and path to profitability over pure revenue growth.
-
Achieved Total Revenue of
$37.3 million - Exceeded profitability targets for 5th consecutive quarter
- Generated positive free cash flow for 2nd consecutive quarter
- Drove sequential improvement in gross retention
- Experienced growth ARR uplift from momentum of early adopters of the ON24 next gen platform and AI-powered offerings
“I am pleased with our Q2 results, as we exceeded guidance on the top and bottom line and delivered positive free cash flow. I am encouraged by another quarter of improvement in gross retention, which is trending much better than the average rates we have seen for each of the past three years,” said Sharat Sharan, co-founder and CEO of ON24. “Continued momentum of our next generation platform drove our AI-powered ACE ARR to the high teens as a percentage of growth ARR. We remain focused on driving profitable growth and establishing ourselves as the AI platform for intelligent digital engagement.”
Second Quarter 2024 Financial Highlights
-
Revenue:
-
Revenue from our Core Platform, including services, was
$36.5 million -
Total revenue was
$37.3 million
-
Revenue from our Core Platform, including services, was
-
ARR:
-
Core Platform ARR of
$131.0 million -
Total ARR of
$133.7 million
-
Core Platform ARR of
-
GAAP Operating Loss was
$13.1 million $15.8 million -
Non-GAAP Operating Loss was
$0.3 million $0.9 million -
GAAP Net Loss was
$11.2 million $(0.27) $12.8 million $(0.28) -
Non-GAAP Net Income was
$1.5 million $0.03 $2.1 million $0.04 -
Adjusted EBITDA was
$0.8 million -
Cash Flow: Net cash provided by operating activities was
$1.4 million $4.3 million $0.9 million $(4.9) million -
Cash, Cash Equivalents and Marketable Securities totaled
$193.8 million
For more information regarding non-GAAP operating income (loss), non-GAAP net income (loss) and free cash flows, see the section titled “Non-GAAP Financial Measures” below. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure, see the tables at the end of this press release.
Recent Business Highlights:
- Drove sequential and YoY Core ARR growth in Q2 in life sciences and financial services verticals.
- Thousands of ON24 customers and prospects gathered for annual virtual user conference, The ON24 Experience, on June 11 – 14, where industry-leading enterprises, including Autodesk, Guardian, SAP and UCB, were named winners of the 2024 ON24 Digital Engagement Excellence Awards for delivering exceptional customer experiences and significant revenue impact.
Financial Outlook
For the third quarter of 2024, ON24 expects:
-
Core Platform Revenue, including services, to be in the range of
$34.2 million $35.2 million -
Total revenue of
$35.0 million $36.0 million -
Non-GAAP operating loss of
$2.3 million $1.3 million -
Non-GAAP net loss per share of
$(0.01) $0.01 -
Restructuring charge of
$0.4 million $0.7 million
-
Restructuring charge of
For the full year 2024, ON24 now expects:
-
Core Platform Revenue, including services, to be in the range of
$141.7 million $144.5 million -
Total revenue of
$145.0 million $147.8 million -
Non-GAAP operating loss of
$4.5 million $3.0 million -
Non-GAAP net income per share of
$0.05 $0.08
Conference Call Information
ON24 will host a conference call and live webcast for analysts and investors today at 2:00 p.m. Pacific Time. Parties in
A webcast and management’s prepared remarks for today’s call will be accessible on ON24’s investor relations website at investors.on24.com. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website.
Definitions of Certain Key Business Metrics
Core Platform: The ON24 Core Platform products include:
ON24 Elite: live, interactive webinar experience that engages prospective customers in real-time and can be made available in an on-demand format.
ON24 Breakouts: live breakout room experience that facilitates networking, collaboration and interactivity between users.
ON24 Forums: live, interactive experience that facilitates video-to-video interaction between presenters and audiences.
ON24 Go Live: live, interactive video event experience that enables presenters and attendees to engage face-to-face in real-time and can also be made available in an on-demand format.
ON24 Engagement Hub: always-on, rich multimedia content experience that prospective customers can engage anytime, anywhere.
ON24 Target: personalize and curate, rich landing page experience that engages specific segments of prospective customers to drive desired action.
ON24 AI-powered ACE: the next generation AI-powered analytics and content engine.
Annual Recurring Revenue (“ARR”): ARR is calculated as the sum of the annualized value of our subscription contracts as of the measurement date, including existing customers with expired contracts that we expect to be renewed. Our ARR amounts exclude professional services, overages from subscription customers and Legacy revenue.
Non-GAAP Financial Measures
In addition to our results determined in accordance with generally accepted accounting principles in
We use non-GAAP operating income (loss), non-GAAP net income (loss), and Adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes, and we use free cash flow to measure and evaluate cash generated through normal business operations. We believe non-GAAP operating income (loss), non-GAAP net income (loss), and Adjusted EBITDA may be helpful to investors because they provide consistency and comparability with past financial performance. We believe free cash flow may be helpful to investors because it reflects that some purchases of property and equipment are necessary to support ongoing operations, while providing a measure of cash available to acquire customers, expand within existing customers and otherwise pursue our business strategies.
However, these non-GAAP financial measures are each presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Non-GAAP financial measures have no standardized meanings prescribed by GAAP and are not prepared under a comprehensive set of accounting rules or principles. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measure as a tool for comparison.
We do not provide a quantitative reconciliation of the forward-looking non-GAAP financial measures included in this press release to the most directly comparable GAAP measures due to the high variability and difficulty to predict certain items excluded from these non-GAAP financial measures; in particular, the effects of stock-based compensation expense, and restructuring and transaction expenses. We expect the variability of these excluded items may have a significant, and potentially unpredictable, impact on our future GAAP financial results.
Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measure are included in the tables at the end of this press release.
Forward-Looking Statements
This document contains “forward-looking statements” under applicable securities laws. Such statements can be identified by words such as: “outlook,” “expect,” “target,” “believe,” “plan,” “future,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements include express or implied statements regarding our expected financial and operating results, the execution of our capital return program, the size of our market opportunity, the success of our new products and capabilities, including our new AI-powered Analytics and Content Engine, and other statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including our ability to attract new customers and expand sales to existing customers, decline in our growth rate; fluctuation in our performance, our history of net losses and expected increases in our expenses; competition and technological development in our markets and any decline in demand for our solutions; our ability to expand our sales and marketing capabilities and otherwise achieve our growth; the impact of the resumption of in-person marketing activities on our customer growth rate; disruptions or other issues with our technology or third-party services; compliance with data privacy, import and export controls, customs, sanctions and other laws and regulations; intellectual property matters; and matters relating to our common stock, along with the other risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.
About ON24
ON24 is on a mission to help businesses bring their go-to-market strategy into the AI era and drive cost-effective revenue growth. Through its leading intelligent engagement platform, ON24 enables customers to combine best-in-class experiences with personalization and content, to capture and act on connected insights at scale.
ON24 provides industry-leading companies, including 3 of the 5 largest global technology companies, 3 of the 5 top global asset management firms, 3 of the 5 largest global healthcare companies and 3 of the 5 largest global industrial companies, with a valuable source of first-party data to drive sales and marketing innovation, improve efficiency and increase business results. Headquartered in
© 2024 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered in
ON24, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands) |
|||||||
|
June 30, 2024 |
|
December 31, 2023 |
||||
Assets |
|
|
|
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
15,485 |
|
|
$ |
53,209 |
|
Marketable securities |
|
178,317 |
|
|
|
145,497 |
|
Accounts receivable, net |
|
24,025 |
|
|
|
37,939 |
|
Deferred contract acquisition costs, current |
|
11,932 |
|
|
|
12,428 |
|
Prepaid expenses and other current assets |
|
6,246 |
|
|
|
4,714 |
|
Total current assets |
|
236,005 |
|
|
|
253,787 |
|
Property and equipment, net |
|
5,344 |
|
|
|
5,371 |
|
Operating right-of-use assets |
|
2,269 |
|
|
|
2,981 |
|
Intangible asset, net |
|
984 |
|
|
|
1,305 |
|
Deferred contract acquisition costs, non-current |
|
13,391 |
|
|
|
15,756 |
|
Other long-term assets |
|
1,019 |
|
|
|
1,102 |
|
Total assets |
$ |
259,012 |
|
|
$ |
280,302 |
|
Liabilities and Stockholders’ Equity |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
2,014 |
|
|
$ |
1,914 |
|
Accrued and other current liabilities |
|
14,627 |
|
|
|
16,907 |
|
Deferred revenue |
|
66,007 |
|
|
|
74,358 |
|
Finance lease liabilities, current |
|
— |
|
|
|
127 |
|
Operating lease liabilities, current |
|
2,856 |
|
|
|
2,779 |
|
Total current liabilities |
|
85,504 |
|
|
|
96,085 |
|
Operating lease liabilities, non-current |
|
1,101 |
|
|
|
2,483 |
|
Other long-term liabilities |
|
1,560 |
|
|
|
1,517 |
|
Total liabilities |
|
88,165 |
|
|
|
100,085 |
|
Stockholders’ equity |
|
|
|
||||
Common stock |
|
4 |
|
|
|
4 |
|
Additional paid-in capital |
|
498,574 |
|
|
|
485,291 |
|
Accumulated deficit |
|
(327,391 |
) |
|
|
(305,513 |
) |
Accumulated other comprehensive income (loss) |
|
(340 |
) |
|
|
435 |
|
Total stockholders’ equity |
|
170,847 |
|
|
|
180,217 |
|
Total liabilities and stockholders’ equity |
$ |
259,012 |
|
|
$ |
280,302 |
|
|
|
|
|
||||
ON24, INC. Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenue: |
|
|
|
|
|
|
|
||||||||
Subscription and other platform |
$ |
34,147 |
|
|
$ |
38,336 |
|
|
$ |
68,976 |
|
|
$ |
77,700 |
|
Professional services |
|
3,202 |
|
|
|
3,750 |
|
|
|
6,100 |
|
|
|
7,449 |
|
Total revenue |
|
37,349 |
|
|
|
42,086 |
|
|
|
75,076 |
|
|
|
85,149 |
|
Cost of revenue: |
|
|
|
|
|
|
|
||||||||
Subscription and other platform(1)(4) |
|
7,032 |
|
|
|
9,066 |
|
|
|
14,378 |
|
|
|
18,955 |
|
Professional services(1)(4) |
|
2,506 |
|
|
|
3,134 |
|
|
|
4,942 |
|
|
|
6,451 |
|
Total cost of revenue |
|
9,538 |
|
|
|
12,200 |
|
|
|
19,320 |
|
|
|
25,406 |
|
Gross profit |
|
27,811 |
|
|
|
29,886 |
|
|
|
55,756 |
|
|
|
59,743 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Sales and marketing(1)(4) |
|
19,457 |
|
|
|
22,628 |
|
|
|
39,531 |
|
|
|
47,045 |
|
Research and development(1)(2)(4) |
|
9,081 |
|
|
|
10,930 |
|
|
|
18,190 |
|
|
|
22,029 |
|
General and administrative(1)(3)(4) |
|
12,332 |
|
|
|
12,105 |
|
|
|
23,568 |
|
|
|
26,383 |
|
Total operating expenses |
|
40,870 |
|
|
|
45,663 |
|
|
|
81,289 |
|
|
|
95,457 |
|
Loss from operations |
|
(13,059 |
) |
|
|
(15,777 |
) |
|
|
(25,533 |
) |
|
|
(35,714 |
) |
Interest expense |
|
10 |
|
|
|
33 |
|
|
|
21 |
|
|
|
62 |
|
Other income, net |
|
(2,305 |
) |
|
|
(3,193 |
) |
|
|
(4,582 |
) |
|
|
(5,765 |
) |
Loss before provision for income taxes |
|
(10,764 |
) |
|
|
(12,617 |
) |
|
|
(20,972 |
) |
|
|
(30,011 |
) |
Provision for income taxes |
|
411 |
|
|
|
230 |
|
|
|
906 |
|
|
|
426 |
|
Net loss |
|
(11,175 |
) |
|
|
(12,847 |
) |
|
|
(21,878 |
) |
|
|
(30,437 |
) |
Net loss per share: |
|
|
|
|
|
|
|
||||||||
Basic and diluted |
$ |
(0.27 |
) |
|
$ |
(0.28 |
) |
|
$ |
(0.53 |
) |
|
$ |
(0.65 |
) |
Weighted-average shares used in computing net loss per share: |
|
|
|
|
|
|
|
||||||||
Basic and diluted |
|
41,991,996 |
|
|
|
45,866,022 |
|
|
|
41,652,834 |
|
|
|
46,581,527 |
|
| (1) | Includes stock-based compensation as follows: |
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
Cost of revenue |
|
|
|
|
|
|
|
||||
Subscription and other platform |
$ |
687 |
|
$ |
709 |
|
$ |
1,355 |
|
$ |
1,494 |
Professional services |
|
129 |
|
|
144 |
|
|
250 |
|
|
296 |
Total cost of revenue |
|
816 |
|
|
853 |
|
|
1,605 |
|
|
1,790 |
Sales and marketing |
|
3,338 |
|
|
3,555 |
|
|
6,396 |
|
|
6,612 |
Research and development |
|
2,246 |
|
|
2,363 |
|
|
4,374 |
|
|
4,384 |
General and administrative |
|
5,676 |
|
|
4,834 |
|
|
10,038 |
|
|
8,940 |
Total stock-based compensation expense |
$ |
12,076 |
|
$ |
11,605 |
|
$ |
22,413 |
|
$ |
21,726 |
|
|
|
|
|
|
|
|
||||
| (2) |
Research and development expense includes amortization of acquired intangible asset of |
|
| (3) |
General and administrative expense includes fees related to shareholder activism of |
|
| (4) | The results of operations for the three and six months ended June 30, 2024 and 2023 includes restructuring costs, which primarily represent severance and related expense due to restructuring activities, and impairment charge on our headquarters’ lease, as follows: |
Three Months Ended June 30, 2024 |
|
Six Months Ended June 30, 2024 |
|||||||||||||||
|
Severance and related Charges |
|
Lease Impairment Charge |
|
Total |
|
Severance and related Charges |
|
Lease Impairment Charge |
|
Total |
||||||
Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
||||||
Subscription and other platform |
$ |
21 |
|
$ |
— |
|
$ |
21 |
|
$ |
213 |
|
$ |
— |
|
$ |
213 |
Professional services |
|
1 |
|
|
— |
|
|
1 |
|
|
13 |
|
|
— |
|
|
13 |
Total cost of revenue |
|
22 |
|
|
— |
|
|
22 |
|
|
226 |
|
|
— |
|
|
226 |
Sales and marketing |
|
330 |
|
|
— |
|
|
330 |
|
|
1,005 |
|
|
— |
|
|
1,005 |
Research and development |
|
— |
|
|
— |
|
|
— |
|
|
112 |
|
|
— |
|
|
112 |
General and administrative |
|
149 |
|
|
— |
|
|
149 |
|
|
339 |
|
|
— |
|
|
339 |
Total restructuring costs |
$ |
501 |
|
$ |
— |
|
$ |
501 |
|
$ |
1,682 |
|
$ |
— |
|
$ |
1,682 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Three Months Ended June 30, 2023 |
|
Six Months Ended June 30, 2023 |
||||||||||||||
|
Severance and related Charges |
|
Lease Impairment Charge |
|
Total |
|
Severance and related Charges |
|
Lease Impairment Charge |
|
Total |
||||||
Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
||||||
Subscription and other platform |
$ |
720 |
|
$ |
89 |
|
$ |
809 |
|
$ |
1,505 |
|
$ |
89 |
|
$ |
1,594 |
Professional services |
|
50 |
|
|
101 |
|
|
151 |
|
|
104 |
|
|
101 |
|
|
205 |
Total cost of revenue |
|
770 |
|
|
190 |
|
|
960 |
|
|
1,609 |
|
|
190 |
|
|
1,799 |
Sales and marketing |
|
597 |
|
|
208 |
|
|
805 |
|
|
1,808 |
|
|
208 |
|
|
2,016 |
Research and development |
|
340 |
|
|
472 |
|
|
812 |
|
|
1,113 |
|
|
472 |
|
|
1,585 |
General and administrative |
|
52 |
|
|
339 |
|
|
391 |
|
|
282 |
|
|
339 |
|
|
621 |
Total restructuring costs |
$ |
1,759 |
|
$ |
1,209 |
|
$ |
2,968 |
|
$ |
4,812 |
|
$ |
1,209 |
|
$ |
6,021 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
ON24, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
1,221 |
|
|
|
1,375 |
|
|
|
2,454 |
|
|
|
2,792 |
|
Stock-based compensation expense |
|
12,076 |
|
|
|
11,605 |
|
|
|
22,413 |
|
|
|
21,726 |
|
Amortization of deferred contract acquisition cost |
|
3,752 |
|
|
|
3,951 |
|
|
|
7,595 |
|
|
|
7,844 |
|
Provision for allowance for doubtful accounts and billing reserves |
|
576 |
|
|
|
798 |
|
|
|
1,201 |
|
|
|
1,699 |
|
Non-cash lease expense |
|
388 |
|
|
|
444 |
|
|
|
779 |
|
|
|
941 |
|
Accretion of marketable securities |
|
(1,428 |
) |
|
|
(1,885 |
) |
|
|
(2,935 |
) |
|
|
(3,711 |
) |
Lease impairment charge |
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
1,209 |
|
Other |
|
35 |
|
|
|
28 |
|
|
|
70 |
|
|
|
156 |
|
Change in operating assets and liabilities: |
|
|
|
|
|
|
|
||||||||
Accounts receivable |
|
3,922 |
|
|
|
1,339 |
|
|
|
12,713 |
|
|
|
10,744 |
|
Deferred contract acquisition cost |
|
(2,305 |
) |
|
|
(2,717 |
) |
|
|
(4,734 |
) |
|
|
(6,263 |
) |
Prepaid expenses and other assets |
|
635 |
|
|
|
1,221 |
|
|
|
(1,743 |
) |
|
|
(848 |
) |
Accounts payable |
|
478 |
|
|
|
882 |
|
|
|
344 |
|
|
|
(471 |
) |
Accrued liabilities |
|
1,014 |
|
|
|
(1,658 |
) |
|
|
(2,888 |
) |
|
|
(2,747 |
) |
Deferred revenue |
|
(7,110 |
) |
|
|
(6,707 |
) |
|
|
(8,351 |
) |
|
|
(8,994 |
) |
Other liabilities |
|
(691 |
) |
|
|
(1,354 |
) |
|
|
(1,514 |
) |
|
|
(2,123 |
) |
Net cash provided by (used in) operating activities |
|
1,388 |
|
|
|
(4,316 |
) |
|
|
3,526 |
|
|
|
(8,483 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
||||||||
Purchase of property and equipment |
|
(490 |
) |
|
|
(554 |
) |
|
|
(1,528 |
) |
|
|
(732 |
) |
Purchase of marketable securities |
|
(52,328 |
) |
|
|
(76,234 |
) |
|
|
(126,421 |
) |
|
|
(195,825 |
) |
Proceeds from maturities of marketable securities |
|
53,127 |
|
|
|
77,260 |
|
|
|
91,648 |
|
|
|
276,470 |
|
Proceeds from sale of marketable securities |
|
— |
|
|
|
— |
|
|
|
4,360 |
|
|
|
9,321 |
|
Net cash provided by (used in) investing activities |
|
309 |
|
|
|
472 |
|
|
|
(31,941 |
) |
|
|
89,234 |
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
||||||||
Proceeds from exercise of stock options |
|
241 |
|
|
|
629 |
|
|
|
994 |
|
|
|
884 |
|
Proceeds from issuance of common stock under ESPP |
|
367 |
|
|
|
546 |
|
|
|
367 |
|
|
|
546 |
|
Payment for repurchase of common stock |
|
(5,006 |
) |
|
|
(22,586 |
) |
|
|
(10,276 |
) |
|
|
(33,306 |
) |
Payment of cash dividend |
|
— |
|
|
|
(49,872 |
) |
|
|
— |
|
|
|
(49,872 |
) |
Repayment of equipment loans |
|
(36 |
) |
|
|
(60 |
) |
|
|
(72 |
) |
|
|
(131 |
) |
Repayment of finance lease obligations |
|
(44 |
) |
|
|
(531 |
) |
|
|
(127 |
) |
|
|
(942 |
) |
Net cash used in financing activities |
|
(4,478 |
) |
|
|
(71,874 |
) |
|
|
(9,114 |
) |
|
|
(82,821 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(24 |
) |
|
|
99 |
|
|
|
(197 |
) |
|
|
229 |
|
Net decrease in cash, cash equivalents and restricted cash |
|
(2,805 |
) |
|
|
(75,619 |
) |
|
|
(37,726 |
) |
|
|
(1,841 |
) |
Cash, cash equivalents and restricted cash, beginning of period |
|
18,377 |
|
|
|
100,947 |
|
|
|
53,298 |
|
|
|
27,169 |
|
Cash, cash equivalents and restricted cash, end of period |
$ |
15,572 |
|
|
$ |
25,328 |
|
|
$ |
15,572 |
|
|
$ |
25,328 |
|
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: |
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents |
$ |
15,485 |
|
|
$ |
25,158 |
|
|
$ |
15,485 |
|
|
$ |
25,158 |
|
Restricted cash included in other assets, non-current |
|
87 |
|
|
|
170 |
|
|
|
87 |
|
|
|
170 |
|
Total cash, cash equivalent and restricted cash |
$ |
15,572 |
|
|
$ |
25,328 |
|
|
$ |
15,572 |
|
|
$ |
25,328 |
|
|
|
|
|
|
|
|
|
||||||||
ON24, INC. Reconciliation of GAAP to Non-GAAP Results (Unaudited) (in thousands, except share and per share data) |
|||||||||||||||
Reconciliation of gross profit and gross margin |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
GAAP gross profit |
$ |
27,811 |
|
|
$ |
29,886 |
|
|
$ |
55,756 |
|
|
$ |
59,743 |
|
Add: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
816 |
|
|
|
853 |
|
|
|
1,605 |
|
|
|
1,790 |
|
Restructuring costs |
|
22 |
|
|
|
770 |
|
|
|
226 |
|
|
|
1,609 |
|
Impairment charge |
|
— |
|
|
|
190 |
|
|
|
— |
|
|
|
190 |
|
Non-GAAP gross profit |
$ |
28,649 |
|
|
$ |
31,699 |
|
|
$ |
57,587 |
|
|
$ |
63,332 |
|
GAAP gross margin |
|
74 |
% |
|
|
71 |
% |
|
|
74 |
% |
|
|
70 |
% |
Non-GAAP gross margin |
|
77 |
% |
|
|
75 |
% |
|
|
77 |
% |
|
|
74 |
% |
|
|
|
|
|
|
|
|
||||||||
Reconciliation of operating expenses |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
GAAP sales and marketing |
$ |
19,457 |
|
|
$ |
22,628 |
|
|
$ |
39,531 |
|
|
$ |
47,045 |
|
Less: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
(3,338 |
) |
|
|
(3,555 |
) |
|
|
(6,396 |
) |
|
|
(6,612 |
) |
Restructuring costs |
|
(330 |
) |
|
|
(597 |
) |
|
|
(1,005 |
) |
|
|
(1,808 |
) |
Impairment charge |
|
— |
|
|
|
(208 |
) |
|
|
— |
|
|
|
(208 |
) |
Non-GAAP sales and marketing |
$ |
15,789 |
|
|
$ |
18,268 |
|
|
$ |
32,130 |
|
|
$ |
38,417 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP research and development |
$ |
9,081 |
|
|
$ |
10,930 |
|
|
$ |
18,190 |
|
|
$ |
22,029 |
|
Less: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
(2,246 |
) |
|
|
(2,363 |
) |
|
|
(4,374 |
) |
|
|
(4,384 |
) |
Restructuring costs |
|
— |
|
|
|
(340 |
) |
|
|
(112 |
) |
|
|
(1,113 |
) |
Impairment charge |
|
— |
|
|
|
(472 |
) |
|
|
— |
|
|
|
(472 |
) |
Amortization of acquired intangible asset |
|
(138 |
) |
|
|
(135 |
) |
|
|
(276 |
) |
|
|
(277 |
) |
Non-GAAP research and development |
$ |
6,697 |
|
|
$ |
7,620 |
|
|
$ |
13,428 |
|
|
$ |
15,783 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP general and administrative |
$ |
12,332 |
|
|
$ |
12,105 |
|
|
$ |
23,568 |
|
|
$ |
26,383 |
|
Less: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
(5,676 |
) |
|
|
(4,834 |
) |
|
|
(10,038 |
) |
|
|
(8,940 |
) |
Restructuring costs |
|
(149 |
) |
|
|
(52 |
) |
|
|
(339 |
) |
|
|
(282 |
) |
Impairment charge |
|
— |
|
|
|
(339 |
) |
|
|
— |
|
|
|
(339 |
) |
Fees related to shareholder activism |
|
— |
|
|
|
(210 |
) |
|
|
— |
|
|
|
(2,656 |
) |
Non-GAAP general and administrative |
$ |
6,507 |
|
|
$ |
6,670 |
|
|
$ |
13,191 |
|
|
$ |
14,166 |
|
|
|
|
|
|
|
|
|
||||||||
ON24, INC. Reconciliation of GAAP to Non-GAAP Results (in thousands, except share and per share data) (Unaudited) |
|||||||||||||||
Reconciliation of net loss to non-GAAP operating loss |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Add: |
|
|
|
|
|
|
|
||||||||
Interest expense |
|
10 |
|
|
|
33 |
|
|
|
21 |
|
|
|
62 |
|
Other income, net |
|
(2,305 |
) |
|
|
(3,193 |
) |
|
|
(4,582 |
) |
|
|
(5,765 |
) |
Provision for income taxes |
|
411 |
|
|
|
230 |
|
|
|
906 |
|
|
|
426 |
|
Stock-based compensation |
|
12,076 |
|
|
|
11,605 |
|
|
|
22,413 |
|
|
|
21,726 |
|
Amortization of acquired intangible asset |
|
138 |
|
|
|
135 |
|
|
|
276 |
|
|
|
277 |
|
Restructuring costs |
|
501 |
|
|
|
1,759 |
|
|
|
1,682 |
|
|
|
4,812 |
|
Impairment charge |
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
1,209 |
|
Fees related to shareholder activism |
|
— |
|
|
|
210 |
|
|
|
— |
|
|
|
2,656 |
|
Non-GAAP operating loss |
$ |
(344 |
) |
|
$ |
(859 |
) |
|
$ |
(1,162 |
) |
|
$ |
(5,034 |
) |
|
|
|
|
|
|
|
|
||||||||
Reconciliation of net loss to Adjusted EBITDA |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Add: |
|
|
|
|
|
|
|
||||||||
Interest expense |
|
10 |
|
|
|
33 |
|
|
|
21 |
|
|
|
62 |
|
Other income, net |
|
(2,305 |
) |
|
|
(3,193 |
) |
|
|
(4,582 |
) |
|
|
(5,765 |
) |
Provision for income taxes |
|
411 |
|
|
|
230 |
|
|
|
906 |
|
|
|
426 |
|
Depreciation and amortization |
|
1,083 |
|
|
|
1,240 |
|
|
|
2,178 |
|
|
|
2,515 |
|
Amortization of acquired intangible asset |
|
138 |
|
|
|
135 |
|
|
|
276 |
|
|
|
277 |
|
Amortization of cloud implementation costs |
|
35 |
|
|
|
37 |
|
|
|
71 |
|
|
|
74 |
|
Stock-based compensation |
|
12,076 |
|
|
|
11,605 |
|
|
|
22,413 |
|
|
|
21,726 |
|
Restructuring costs |
|
501 |
|
|
|
1,759 |
|
|
|
1,682 |
|
|
|
4,812 |
|
Impairment charge |
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
1,209 |
|
Fees related to shareholder activism |
|
— |
|
|
|
210 |
|
|
|
— |
|
|
|
2,656 |
|
Adjusted EBITDA |
$ |
774 |
|
|
$ |
418 |
|
|
$ |
1,087 |
|
|
$ |
(2,445 |
) |
|
|
|
|
|
|
|
|
||||||||
Reconciliation of net loss to non-GAAP net income |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Add: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
12,076 |
|
|
|
11,605 |
|
|
|
22,413 |
|
|
|
21,726 |
|
Amortization of acquired intangible asset |
|
138 |
|
|
|
135 |
|
|
|
276 |
|
|
|
277 |
|
Restructuring costs |
|
501 |
|
|
|
1,759 |
|
|
|
1,682 |
|
|
|
4,812 |
|
Impairment charge |
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
1,209 |
|
Fees related to shareholder activism |
|
— |
|
|
|
210 |
|
|
|
— |
|
|
|
2,656 |
|
Non-GAAP net income |
$ |
1,540 |
|
|
$ |
2,071 |
|
|
$ |
2,493 |
|
|
$ |
243 |
|
|
|
|
|
|
|
|
|
||||||||
ON24, INC. Reconciliation of GAAP to Non-GAAP Results (in thousands, except share and per share data) (Unaudited) |
|||||||||||||||
Reconciliation of GAAP to Non-GAAP basic and diluted net income (loss) per share |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
GAAP basic and diluted net loss per share: |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Weighted average common stock outstanding, basic and diluted |
|
41,991,996 |
|
|
|
45,866,022 |
|
|
|
41,652,834 |
|
|
|
46,581,527 |
|
Net loss per share, basic and diluted |
$ |
(0.27 |
) |
|
$ |
(0.28 |
) |
|
$ |
(0.53 |
) |
|
$ |
(0.65 |
) |
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Non-GAAP basic and diluted net income per share: |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(11,175 |
) |
|
$ |
(12,847 |
) |
|
$ |
(21,878 |
) |
|
$ |
(30,437 |
) |
Add: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
12,076 |
|
|
|
11,605 |
|
|
|
22,413 |
|
|
|
21,726 |
|
Amortization of acquired intangible asset |
|
138 |
|
|
|
135 |
|
|
|
276 |
|
|
|
277 |
|
Restructuring costs |
|
501 |
|
|
|
1,759 |
|
|
|
1,682 |
|
|
|
4,812 |
|
Impairment charge |
|
— |
|
|
|
1,209 |
|
|
|
— |
|
|
|
1,209 |
|
Fees related to shareholder activism |
|
— |
|
|
|
210 |
|
|
|
— |
|
|
|
2,656 |
|
Non-GAAP net income |
$ |
1,540 |
|
|
$ |
2,071 |
|
|
$ |
2,493 |
|
|
$ |
243 |
|
Non-GAAP weighted-average common stock outstanding |
|
|
|
|
|
|
|
||||||||
Basic |
|
41,991,996 |
|
|
|
45,866,022 |
|
|
|
41,652,834 |
|
|
|
46,581,527 |
|
Diluted |
|
45,802,883 |
|
|
|
50,716,390 |
|
|
|
45,713,706 |
|
|
|
51,120,544 |
|
Non-GAAP net income per share of common stock: |
|
|
|
|
|
|
|
||||||||
Basic |
$ |
0.04 |
|
|
$ |
0.05 |
|
|
$ |
0.06 |
|
|
$ |
0.01 |
|
Diluted |
$ |
0.03 |
|
|
$ |
0.04 |
|
|
$ |
0.05 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
||||||||
ON24, INC. Reconciliation of GAAP to Non-GAAP Results (in thousands) (Unaudited) |
|||||||||||||||
Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net cash provided by (used in) operating activities: |
$ |
1,388 |
|
|
$ |
(4,316 |
) |
|
$ |
3,526 |
|
|
$ |
(8,483 |
) |
Less: Purchases of property and equipment |
|
(490 |
) |
|
|
(554 |
) |
|
|
(1,528 |
) |
|
|
(732 |
) |
Free cash flow |
$ |
898 |
|
|
$ |
(4,870 |
) |
|
$ |
1,998 |
|
|
$ |
(9,215 |
) |
|
|
|
|
|
|
|
|
||||||||
ON24, INC. Revenue (in thousands) (Unaudited) |
|||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
Core Platform |
|
|
|
|
|
|
|
||||
Subscription and other platform |
$ |
33,479 |
|
$ |
37,000 |
|
$ |
67,539 |
|
$ |
74,811 |
Professional services |
|
3,006 |
|
|
3,460 |
|
|
5,761 |
|
|
6,855 |
Total core platform revenue |
$ |
36,485 |
|
$ |
40,460 |
|
$ |
73,300 |
|
$ |
81,666 |
|
|
|
|
|
|
|
|
||||
Virtual Conference |
|
|
|
|
|
|
|
||||
Subscription and other platform |
$ |
668 |
|
$ |
1,336 |
|
$ |
1,437 |
|
$ |
2,889 |
Professional services |
|
196 |
|
|
290 |
|
|
339 |
|
|
594 |
Total virtual conference revenue |
$ |
864 |
|
$ |
1,626 |
|
$ |
1,776 |
|
$ |
3,483 |
|
|
|
|
|
|
|
|
||||
Revenue |
|
|
|
|
|
|
|
||||
Subscription and other platform |
$ |
34,147 |
|
$ |
38,336 |
|
$ |
68,976 |
|
$ |
77,700 |
Professional services |
|
3,202 |
|
|
3,750 |
|
|
6,100 |
|
|
7,449 |
Total revenue |
$ |
37,349 |
|
$ |
42,086 |
|
$ |
75,076 |
|
$ |
85,149 |
|
|
|
|
|
|
|
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806665591/en/
Media Contact:
Tessa Barron
press@on24.com
Investor Contact:
Lauren Sloane, The Blueshirt Group for ON24
investorrelations@on24.com
Source: ON24
FAQ
What was ON24's total revenue for Q2 2024?
What is the forecasted revenue for ON24 in Q3 2024?
What were ON24's GAAP operating loss and net loss for Q2 2024?
Did ON24 achieve positive free cash flow in Q2 2024?
What is ON24's Core Platform ARR as of June 30, 2024?
