ON24 Announces Second Quarter 2024 Financial Results

Business Wire08-07

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 ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2457100950?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/HlIs0bISl_sPJaOKMtXJ7g--~B/aD0yNzA7dz00ODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/d7b1e3910ef6c4b8b3f9687a3eef426b","is_english":true,"pubTime":"2024-08-07 04:15","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2457100950","market":"us","top_or_hot":-1,"title":"ON24 Announces Second Quarter 2024 Financial Results","media":"Business Wire","content":"<div>\n<p>Achieved Total Revenue of $37.3 million\nExceeded profitability targets for 5th consecutive quarter\nGenerated positive free cash flow for 2nd consecutive quarter\nDrove sequential improvement in gross ...</p>\n\n<a href=\"https://finance.yahoo.com/news/on24-announces-second-quarter-2024-201500438.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ON24 Announces Second Quarter 2024 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nON24 Announces Second Quarter 2024 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-07 04:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/on24-announces-second-quarter-2024-201500438.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Achieved Total Revenue of $37.3 million\nExceeded profitability targets for 5th consecutive quarter\nGenerated positive free cash flow for 2nd consecutive quarter\nDrove sequential improvement in gross ...</p>\n\n<a href=\"https://finance.yahoo.com/news/on24-announces-second-quarter-2024-201500438.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/on24-announces-second-quarter-2024-201500438.html","article_id":"2457100950","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/HlIs0bISl_sPJaOKMtXJ7g--~B/aD0yNzA7dz00ODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/d7b1e3910ef6c4b8b3f9687a3eef426b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2457100950","pubTimestamp":1722975300,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Generated positive free cash flow for 2nd consecutive quarter. Experienced growth ARR uplift from momentum of early adopters of the ON24 next gen platform and AI-powered offerings. SAN FRANCISCO, August 06, 2024----ON24 , an intelligent engagement platform for B2B sales and marketing, today announced financial results for the second quarter ended June 30, 2024.\"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.\". Thousands of ON24 customers and ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"ON24公布2024年第二季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ONTF":1},"content_text":"Achieved Total Revenue of $37.3 million\nExceeded profitability targets for 5th consecutive quarter\nGenerated positive free cash flow for 2nd consecutive quarter\nDrove sequential improvement in gross retention\nExperienced growth ARR uplift from momentum of early adopters of the ON24 next gen platform and AI-powered offerings\n\nSAN FRANCISCO, August 06, 2024--(BUSINESS WIRE)--ON24 (NYSE: ONTF), an intelligent engagement platform for B2B sales and marketing, today announced financial results for the second quarter ended June 30, 2024.\n\"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.\"\nSecond Quarter 2024 Financial Highlights\n\nRevenue:\n  \nRevenue from our Core Platform, including services, was $36.5 million.\nTotal revenue was $37.3 million.\n\nARR:\n\nCore Platform ARR of $131.0 million as of June 30, 2024.\nTotal ARR of $133.7 million as of June 30, 2024.\n\n\n\nGAAP Operating Loss was $13.1 million, compared to GAAP operating loss of $15.8 million in the second quarter of 2023.\nNon-GAAP Operating Loss was $0.3 million, compared to non-GAAP operating loss of $0.9 million in the second quarter of 2023.\nGAAP Net Loss was $11.2 million, or $(0.27) per diluted share, compared to GAAP net loss of $12.8 million, or $(0.28) per diluted share in the second quarter of 2023.\nNon-GAAP Net Income was $1.5 million, or $0.03 per diluted share, compared to non-GAAP net income of $2.1 million, or $0.04 per diluted share in the second quarter of 2023.\nAdjusted EBITDA was $0.8 million.\nCash Flow: Net cash provided by operating activities was $1.4 million, compared to $4.3 million used in operating activities in the second quarter of 2023. Free cash flow was $0.9 million for the quarter, compared to $(4.9) million in the second quarter of 2023.\nCash, Cash Equivalents and Marketable Securities totaled $193.8 million as of June 30, 2024.\n\nFor 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.\nRecent Business Highlights:\n\nDrove sequential and YoY Core ARR growth in Q2 in life sciences and financial services verticals.\nThousands 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.\n\nFinancial Outlook\nFor the third quarter of 2024, ON24 expects:\n\nCore Platform Revenue, including services, to be in the range of $34.2 million to $35.2 million.\nTotal revenue of $35.0 million to $36.0 million.\nNon-GAAP operating loss of $2.3 million to $1.3 million.\nNon-GAAP net loss per share of $(0.01) to non-GAAP net income per share of $0.01 using approximately 42.0 million basic and diluted shares outstanding and 46.0 million diluted shares outstanding, respectively.\n  \nRestructuring charge of $0.4 million to $0.7 million, excluded from the non-GAAP amounts above.\n\n\nFor the full year 2024, ON24 now expects:\n\nCore Platform Revenue, including services, to be in the range of $141.7 million to $144.5 million.\nTotal revenue of $145.0 million to $147.8 million.\nNon-GAAP operating loss of $4.5 million to $3.0 million.\nNon-GAAP net income per share of $0.05 to $0.08 per share using approximately 45.5 million diluted shares outstanding.\n\nConference Call Information\nON24 will host a conference call and live webcast for analysts and investors today at 2:00 p.m. Pacific Time. Parties in the United States can access the call by dialing 877-497-9071 or 201-689-8727.\nA 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.\nDefinitions of Certain Key Business Metrics\nCore 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.\nAnnual 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.\nNon-GAAP Financial Measures\nIn addition to our results determined in accordance with generally accepted accounting principles in the United States, or \"GAAP\", we consider our non-GAAP operating income (loss), non-GAAP net income (loss), Adjusted EBITDA, and free cash flow in evaluating our operating performance. We define non-GAAP operating income (loss) as net income (loss) excluding, interest expense, other (income) expense, net, provision for income taxes, stock-based compensation, amortization of acquired intangible assets, shareholder activism related costs, restructuring costs, impairment charges for underutilized real estate, and certain other costs. We define non-GAAP net income (loss) as net income (loss) excluding stock-based compensation, amortization of acquired intangible assets, shareholder activism related costs, restructuring costs, charges for underutilized real estate, and certain other costs. We define Adjusted EBITDA as net income (loss) excluding interest expense, other (income) expense, net, provision for income taxes, depreciation and amortization, amortization of acquired intangible assets, amortization of cloud implementation costs, stock-based compensation, restructuring costs, impairment charges for underutilized real estate, and shareholder activism related costs. We define free cash flow as net cash provided by (used in) operating activities, less purchases of property and equipment.\nWe 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.\nHowever, 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.\nWe 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.\nReconciliations 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.\nForward-Looking Statements\nThis 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.\nAbout ON24\nON24 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.\nON24 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 San Francisco, ON24 has offices globally in North America, EMEA and APAC. For more information, visit www.ON24.com.\n© 2024 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered in the United States Patent and Trademark Office and in other countries.\n\n\n\nON24, INC.Condensed Consolidated Balance Sheets (Unaudited)(in thousands)\n\n\n \n\n\n\nJune 30, 2024\n\nDecember 31, 2023\n\n\nAssets\n\n\n\n\n\nCurrent assets\n\n\n\n\n\nCash and cash equivalents\n$\n15,485\n\n\n$\n53,209\n\n\n\nMarketable securities\n\n178,317\n\n\n\n145,497\n\n\n\nAccounts receivable, net\n\n24,025\n\n\n\n37,939\n\n\n\nDeferred contract acquisition costs, current\n\n11,932\n\n\n\n12,428\n\n\n\nPrepaid expenses and other current assets\n\n6,246\n\n\n\n4,714\n\n\n\nTotal current assets\n\n236,005\n\n\n\n253,787\n\n\n\nProperty and equipment, net\n\n5,344\n\n\n\n5,371\n\n\n\nOperating right-of-use assets\n\n2,269\n\n\n\n2,981\n\n\n\nIntangible asset, net\n\n984\n\n\n\n1,305\n\n\n\nDeferred contract acquisition costs, non-current\n\n13,391\n\n\n\n15,756\n\n\n\nOther long-term assets\n\n1,019\n\n\n\n1,102\n\n\n\nTotal assets\n$\n259,012\n\n\n$\n280,302\n\n\n\nLiabilities and Stockholders’ Equity\n\n\n\n\n\nCurrent liabilities\n\n\n\n\n\nAccounts payable\n$\n2,014\n\n\n$\n1,914\n\n\n\nAccrued and other current liabilities\n\n14,627\n\n\n\n16,907\n\n\n\nDeferred revenue\n\n66,007\n\n\n\n74,358\n\n\n\nFinance lease liabilities, current\n\n—\n\n\n\n127\n\n\n\nOperating lease liabilities, current\n\n2,856\n\n\n\n2,779\n\n\n\nTotal current liabilities\n\n85,504\n\n\n\n96,085\n\n\n\nOperating lease liabilities, non-current\n\n1,101\n\n\n\n2,483\n\n\n\nOther long-term liabilities\n\n1,560\n\n\n\n1,517\n\n\n\nTotal liabilities\n\n88,165\n\n\n\n100,085\n\n\n\nStockholders’ equity\n\n\n\n\n\nCommon stock\n\n4\n\n\n\n4\n\n\n\nAdditional paid-in capital\n\n498,574\n\n\n\n485,291\n\n\n\nAccumulated deficit\n\n(327,391\n)\n\n\n(305,513\n)\n\n\nAccumulated other comprehensive income (loss)\n\n(340\n)\n\n\n435\n\n\n\nTotal stockholders’ equity\n\n170,847\n\n\n\n180,217\n\n\n\nTotal liabilities and stockholders’ equity\n$\n259,012\n\n\n$\n280,302\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Condensed Consolidated Statements of Operations (Unaudited)(in thousands, except share and per share data)\n\n\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nRevenue:\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n34,147\n\n\n$\n38,336\n\n\n$\n68,976\n\n\n$\n77,700\n\n\n\nProfessional services\n\n3,202\n\n\n\n3,750\n\n\n\n6,100\n\n\n\n7,449\n\n\n\nTotal revenue\n\n37,349\n\n\n\n42,086\n\n\n\n75,076\n\n\n\n85,149\n\n\n\nCost of revenue:\n\n\n\n\n\n\n\n\n\nSubscription and other platform(1)(4)\n\n7,032\n\n\n\n9,066\n\n\n\n14,378\n\n\n\n18,955\n\n\n\nProfessional services(1)(4)\n\n2,506\n\n\n\n3,134\n\n\n\n4,942\n\n\n\n6,451\n\n\n\nTotal cost of revenue\n\n9,538\n\n\n\n12,200\n\n\n\n19,320\n\n\n\n25,406\n\n\n\nGross profit\n\n27,811\n\n\n\n29,886\n\n\n\n55,756\n\n\n\n59,743\n\n\n\nOperating expenses:\n\n\n\n\n\n\n\n\n\nSales and marketing(1)(4)\n\n19,457\n\n\n\n22,628\n\n\n\n39,531\n\n\n\n47,045\n\n\n\nResearch and development(1)(2)(4)\n\n9,081\n\n\n\n10,930\n\n\n\n18,190\n\n\n\n22,029\n\n\n\nGeneral and administrative(1)(3)(4)\n\n12,332\n\n\n\n12,105\n\n\n\n23,568\n\n\n\n26,383\n\n\n\nTotal operating expenses\n\n40,870\n\n\n\n45,663\n\n\n\n81,289\n\n\n\n95,457\n\n\n\nLoss from operations\n\n(13,059\n)\n\n\n(15,777\n)\n\n\n(25,533\n)\n\n\n(35,714\n)\n\n\nInterest expense\n\n10\n\n\n\n33\n\n\n\n21\n\n\n\n62\n\n\n\nOther income, net\n\n(2,305\n)\n\n\n(3,193\n)\n\n\n(4,582\n)\n\n\n(5,765\n)\n\n\nLoss before provision for income taxes\n\n(10,764\n)\n\n\n(12,617\n)\n\n\n(20,972\n)\n\n\n(30,011\n)\n\n\nProvision for income taxes\n\n411\n\n\n\n230\n\n\n\n906\n\n\n\n426\n\n\n\nNet loss\n\n(11,175\n)\n\n\n(12,847\n)\n\n\n(21,878\n)\n\n\n(30,437\n)\n\n\nNet loss per share:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n$\n(0.27\n)\n\n$\n(0.28\n)\n\n$\n(0.53\n)\n\n$\n(0.65\n)\n\n\nWeighted-average shares used in computing net loss per share:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n\n41,991,996\n\n\n\n45,866,022\n\n\n\n41,652,834\n\n\n\n46,581,527\n\n\n\n\n\n\n\n(1)\n\nIncludes stock-based compensation as follows:\n\n\n\n\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n2023\n\n\n2024\n\n\n2023\n\n\nCost of revenue\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n687\n\n$\n709\n\n$\n1,355\n\n$\n1,494\n\n\nProfessional services\n\n129\n\n\n144\n\n\n250\n\n\n296\n\n\nTotal cost of revenue\n\n816\n\n\n853\n\n\n1,605\n\n\n1,790\n\n\nSales and marketing\n\n3,338\n\n\n3,555\n\n\n6,396\n\n\n6,612\n\n\nResearch and development\n\n2,246\n\n\n2,363\n\n\n4,374\n\n\n4,384\n\n\nGeneral and administrative\n\n5,676\n\n\n4,834\n\n\n10,038\n\n\n8,940\n\n\nTotal stock-based compensation expense\n$\n12,076\n\n$\n11,605\n\n$\n22,413\n\n$\n21,726\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(2)\n\nResearch and development expense includes amortization of acquired intangible asset of $138 thousand and $276 thousand for the three and six months ended June 30, 2024, respectively, and $135 thousand and $277 thousand for the three and six months ended June 30, 2023, respectively, in connection with the Vibbio acquisition in April 2022.\n\n\n(3)\n\nGeneral and administrative expense includes fees related to shareholder activism of $210 thousand and $2,656 thousand for the three and six months ended June 30, 2023, respectively. We did not incur such fees in the three and six months ended June 30, 2024.\n\n\n(4)\n\nThe results of operations for the three and six months ended June 30, 2024 and 2023 includes restructuring costs, which primarily represent severance and related expense due to restructuring activities, and impairment charge on our headquarters’ lease, as follows:\n\n\n\n\n\n\n\nThree Months Ended June 30, 2024\n\nSix Months Ended June 30, 2024\n\n\n\nSeveranceand relatedCharges\n\nLeaseImpairmentCharge\n\nTotal\n\nSeveranceand relatedCharges\n\nLeaseImpairmentCharge\n\nTotal\n\n\nCost of revenue\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n21\n\n$\n—\n\n$\n21\n\n$\n213\n\n$\n—\n\n$\n213\n\n\nProfessional services\n\n1\n\n\n—\n\n\n1\n\n...\n   13\n\n\n—\n\n\n13\n\n\nTotal cost of revenue\n\n22\n\n\n—\n\n\n22\n\n\n226\n\n\n—\n\n\n226\n\n\nSales and marketing\n\n330\n\n\n—\n\n\n330\n\n\n1,005\n\n\n—\n\n\n1,005\n\n\nResearch and development\n\n—\n\n\n—\n\n\n—\n\n\n112\n\n\n—\n\n\n112\n\n\nGeneral and administrative\n\n149\n\n\n—\n\n\n149\n\n\n339\n\n\n—\n\n\n339\n\n\nTotal restructuring costs\n$\n501\n\n$\n—\n\n$\n501\n\n$\n1,682\n\n$\n—\n\n$\n1,682\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended June 30, 2023\n\nSix Months Ended June 30, 2023\n\n\n\nSeveranceand relatedCharges\n\nLeaseImpairmentCharge\n\nTotal\n\nSeveranceand relatedCharges\n\nLeaseImpairmentCharge\n\nTotal\n\n\nCost of revenue\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n720\n\n$\n89\n\n$\n809\n\n$\n1,505\n\n$\n89\n\n$\n1,594\n\n\nProfessional services\n\n50\n\n\n101\n\n\n151\n\n\n104\n\n\n101\n\n\n205\n\n\nTotal cost of revenue\n\n770\n\n\n190\n\n\n960\n\n\n1,609\n\n\n190\n\n\n1,799\n\n\nSales and marketing\n\n597\n\n\n208\n\n\n805\n\n\n1,808\n\n\n208\n\n\n2,016\n\n\nResearch and development\n\n340\n\n\n472\n\n\n812\n\n\n1,113\n\n\n472\n\n\n1,585\n\n\nGeneral and administrative\n\n52\n\n\n339\n\n\n391\n\n\n282\n\n\n339\n\n\n621\n\n\nTotal restructuring costs\n$\n1,759\n\n$\n1,209\n\n$\n2,968\n\n$\n4,812\n\n$\n1,209\n\n$\n6,021\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Condensed Consolidated Statements of Cash Flows (Unaudited)(In thousands) \n\n\n \n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nCash flows from operating activities:\n\n\n\n\n\n\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nAdjustments to reconcile net loss to net cash used in operating activities:\n\n\n\n\n\n\n\n\n\nDepreciation and amortization\n\n1,221\n\n\n\n1,375\n\n\n\n2,454\n\n\n\n2,792\n\n\n\nStock-based compensation expense\n\n12,076\n\n\n\n11,605\n\n\n\n22,413\n\n\n\n21,726\n\n\n\nAmortization of deferred contract acquisition cost\n\n3,752\n\n\n\n3,951\n\n\n\n7,595\n\n\n\n7,844\n\n\n\nProvision for allowance for doubtful accounts and billing reserves\n\n576\n\n\n\n798\n\n\n\n1,201\n\n\n\n1,699\n\n\n\nNon-cash lease expense\n\n388\n\n\n\n444\n\n\n\n779\n\n\n\n941\n\n\n\nAccretion of marketable securities\n\n(1,428\n)\n\n\n(1,885\n)\n\n\n(2,935\n)\n\n\n(3,711\n)\n\n\nLease impairment charge\n\n—\n\n\n\n1,209\n\n\n\n—\n\n\n\n1,209\n\n\n\nOther\n\n35\n\n\n\n28\n\n\n\n70\n\n\n\n156\n\n\n\nChange in operating assets and liabilities:\n\n\n\n\n\n\n\n\n\nAccounts receivable\n\n3,922\n\n\n\n1,339\n\n\n\n12,713\n\n\n\n10,744\n\n\n\nDeferred contract acquisition cost\n\n(2,305\n)\n\n\n(2,717\n)\n\n\n(4,734\n)\n\n\n(6,263\n)\n\n\nPrepaid expenses and other assets\n\n635\n\n\n\n1,221\n\n\n\n(1,743\n)\n\n\n(848\n)\n\n\nAccounts payable\n\n478\n\n\n\n882\n\n\n\n344\n\n\n\n(471\n)\n\n\nAccrued liabilities\n\n1,014\n\n\n\n(1,658\n)\n\n\n(2,888\n)\n\n\n(2,747\n)\n\n\nDeferred revenue\n\n(7,110\n)\n\n\n(6,707\n)\n\n\n(8,351\n)\n\n\n(8,994\n)\n\n\nOther liabilities\n\n(691\n)\n\n\n(1,354\n)\n\n\n(1,514\n)\n\n\n(2,123\n)\n\n\nNet cash provided by (used in) operating activities\n\n1,388\n\n\n\n(4,316\n)\n\n\n3,526\n\n\n\n(8,483\n)\n\n\nCash flows from investing activities:\n\n\n\n\n\n\n\n\n\nPurchase of property and equipment\n\n(490\n)\n\n\n(554\n)\n\n\n(1,528\n)\n\n\n(732\n)\n\n\nPurchase of marketable securities\n\n(52,328\n)\n\n\n(76,234\n)\n\n\n(126,421\n)\n\n\n(195,825\n)\n\n\nProceeds from maturities of marketable securities\n\n53,127\n\n\n\n77,260\n\n\n\n91,648\n\n\n\n276,470\n\n\n\nProceeds from sale of marketable securities\n\n—\n\n\n\n—\n\n\n\n4,360\n\n\n\n9,321\n\n\n\nNet cash provided by (used in) investing activities\n\n309\n\n\n\n472\n\n\n\n(31,941\n)\n\n\n89,234\n\n\n\nCash flows from financing activities:\n\n\n\n\n\n\n\n\n\nProceeds from exercise of stock options\n\n241\n\n\n\n629\n\n\n\n994\n\n\n\n884\n\n\n\nProceeds from issuance of common stock under ESPP\n\n367\n\n\n\n546\n\n\n\n367\n\n\n\n546\n\n\n\nPayment for repurchase of common stock\n\n(5,006\n)\n\n\n(22,586\n)\n\n\n(10,276\n)\n\n\n(33,306\n)\n\n\nPayment of cash dividend\n\n—\n\n\n\n(49,872\n)\n\n\n—\n\n\n\n(49,872\n)\n\n\nRepayment of equipment loans\n\n(36\n)\n\n\n(60\n)\n\n\n(72\n)\n\n\n(131\n)\n\n\nRepayment of finance lease obligations\n\n(44\n)\n\n\n(531\n)\n\n\n(127\n)\n\n\n(942\n)\n\n\nNet cash used in financing activities\n\n(4,478\n)\n\n\n(71,874\n)\n\n\n(9,114\n)\n\n\n(82,821\n)\n\n\nEffect of exchange rate changes on cash, cash equivalents and restricted cash\n\n(24\n)\n\n\n99\n\n\n\n(197\n)\n\n\n229\n\n\n\nNet decrease in cash, cash equivalents and restricted cash\n\n(2,805\n)\n\n\n(75,619\n)\n\n\n(37,726\n)\n\n\n(1,841\n)\n\n\nCash, cash equivalents and restricted cash, beginning of period\n\n18,377\n\n\n\n100,947\n\n\n\n53,298\n\n\n\n27,169\n\n\n\nCash, cash equivalents and restricted cash, end of period\n$\n15,572\n\n\n$\n25,328\n\n\n$\n15,572\n\n\n$\n25,328\n\n\n\nReconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:\n\n\n\n\n\n\n\n\n\nCash and cash equivalents\n$\n15,485\n\n\n$\n25,158\n\n\n$\n15,485\n\n\n$\n25,158\n\n\n\nRestricted cash included in other assets, non-current\n\n87\n\n\n\n170\n\n\n\n87\n\n\n\n170\n\n\n\nTotal cash, cash equivalent and restricted cash\n$\n15,572\n\n\n$\n25,328\n\n\n$\n15,572\n\n\n$\n25,328\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Reconciliation of GAAP to Non-GAAP Results (Unaudited)(in thousands, except share and per share data)\n\n\n\n\n\n \n\n\nReconciliation of gross profit and gross margin\n\n\n\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nGAAP gross profit\n$\n27,811\n\n\n$\n29,886\n\n\n$\n55,756\n\n\n$\n59,743\n\n\n\nAdd:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n816\n\n\n\n853\n\n\n\n1,605\n\n\n\n1,790\n\n\n\nRestructuring costs\n\n22\n\n\n\n770\n\n\n\n226\n\n\n\n1,609\n\n\n\nImpairment charge\n\n—\n\n\n\n190\n\n\n\n—\n\n\n\n190\n\n\n\nNon-GAAP gross profit\n$\n28,649\n\n\n$\n31,699\n\n\n$\n57,587\n\n\n$\n63,332\n\n\n\nGAAP gross margin\n\n74\n%\n\n\n71\n%\n\n\n74\n%\n\n\n70\n%\n\n\nNon-GAAP gross margin\n\n77\n%\n\n\n75\n%\n\n\n77\n%\n\n\n74\n%\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of operating expenses\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nGAAP sales and marketing\n$\n19,457\n\n\n$\n22,628\n\n\n$\n39,531\n\n\n$\n47,045\n\n\n\nLess:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n(3,338\n)\n\n\n(3,555\n)\n\n\n(6,396\n)\n\n\n(6,612\n)\n\n\nRestructuring costs\n\n(330\n)\n\n\n(597\n)\n\n\n(1,005\n)\n\n\n(1,808\n)\n\n\nImpairment charge\n\n—\n\n\n\n(208\n)\n\n\n—\n\n\n\n(208\n)\n\n\nNon-GAAP sales and marketing\n$\n15,789\n\n\n$\n18,268\n\n\n$\n32,130\n\n\n$\n38,417\n\n\n\n\n\n\n\n\n\n\n\n\n\nGAAP research and development\n$\n9,081\n\n\n$\n10,930\n\n\n$\n18,190\n\n\n$\n22,029\n\n\n\nLess:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n(2,246\n)\n\n\n(2,363\n)\n\n\n(4,374\n)\n\n\n(4,384\n)\n\n\nRestructuring costs\n\n—\n\n\n\n(340\n)\n\n\n(112\n)\n\n\n(1,113\n)\n\n\nImpairment charge\n\n—\n\n\n\n(472\n)\n\n\n—\n\n\n\n(472\n)\n\n\nAmortization of acquired intangible asset\n\n(138\n)\n\n\n(135\n)\n\n\n(276\n)\n\n\n(277\n)\n\n\nNon-GAAP research and development\n$\n6,697\n\n\n$\n7,620\n\n\n$\n13,428\n\n\n$\n15,783\n\n\n\n\n\n\n\n\n\n\n\n\n\nGAAP general and administrative\n$\n12,332\n\n\n$\n12,105\n\n\n$\n23,568\n\n\n$\n26,383\n\n\n\nLess:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n(5,676\n)\n\n\n(4,834\n)\n\n\n(10,038\n)\n\n\n(8,940\n)\n\n\nRestructuring costs\n\n(149\n)\n\n\n(52\n)\n\n\n(339\n)\n\n\n(282\n)\n\n\nImpairment charge\n\n—\n\n\n\n(339\n)\n\n\n—\n\n\n\n(339\n)\n\n\nFees related to shareholder activism\n\n—\n\n\n\n(210\n)\n\n\n—\n\n\n\n(2,656\n)\n\n\nNon-GAAP general and administrative\n$\n6,507\n\n\n$\n6,670\n\n\n$\n13,191\n\n\n$\n14,166\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Reconciliation of GAAP to Non-GAAP Results(in thousands, except share and per share data)(Unaudited)\n\n\n \n\n\n\n\n\nReconciliation of net loss to non-GAAP operating loss\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nAdd:\n\n\n\n\n\n\n\n\n\nInterest expense\n\n10\n\n\n\n33\n\n\n\n21\n\n\n\n62\n\n\n\nOther income, net\n\n(2,305\n)\n\n\n(3,193\n)\n\n\n(4,582\n)\n\n\n(5,765\n)\n\n\nProvision for income taxes\n\n411\n\n\n\n230\n\n\n\n906\n\n\n\n426\n\n\n\nStock-based compensation\n\n12,076\n\n\n\n11,605\n\n\n\n22,413\n\n\n\n21,726\n\n\n\nAmortization of acquired intangible asset\n\n138\n\n\n\n135\n\n\n\n276\n\n\n\n277\n\n\n\nRestructuring costs\n\n501\n\n\n\n1,759\n\n\n\n1,682\n\n\n\n4,812\n\n\n\nImpairment charge\n\n—\n\n\n\n1,209\n\n\n\n—\n\n\n\n1,209\n\n\n\nFees related to shareholder activism\n\n—\n\n\n\n210\n\n\n\n—\n\n\n\n2,656\n\n\n\nNon-GAAP operating loss\n$\n(344\n)\n\n$\n(859\n)\n\n$\n(1,162\n)\n\n$\n(5,034\n)\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of net loss to Adjusted EBITDA\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nAdd:\n\n\n\n\n\n\n\n\n\nInterest expense\n\n10\n\n\n\n33\n\n\n\n21\n\n\n\n62\n\n\n\nOther income, net\n\n(2,305\n)\n\n\n(3,193\n)\n\n\n(4,582\n)\n\n\n(5,765\n)\n\n\nProvision for income taxes\n\n411\n\n\n\n230\n\n\n\n906\n\n\n\n426\n\n\n\nDepreciation and amortization\n\n1,083\n\n\n\n1,240\n\n\n\n2,178\n\n\n\n2,515\n\n\n\nAmortization of acquired intangible asset\n\n138\n\n\n\n135\n\n\n\n276\n\n\n\n277\n\n\n\nAmortization of cloud implementation costs\n\n35\n\n\n\n37\n\n\n\n71\n\n\n\n74\n\n\n\nStock-based compensation\n\n12,076\n\n\n\n11,605\n\n\n\n22,413\n\n\n\n21,726\n\n\n\nRestructuring costs\n\n501\n\n\n\n1,759\n\n\n\n1,682\n\n\n\n4,812\n\n\n\nImpairment charge\n\n—\n\n\n\n1,209\n\n\n\n—\n\n\n\n1,209\n\n\n\nFees related to shareholder activism\n\n—\n\n\n\n210\n\n\n\n—\n\n\n\n2,656\n\n\n\nAdjusted EBITDA\n$\n774\n\n\n$\n418\n\n\n$\n1,087\n\n\n$\n(2,445\n)\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of net loss to non-GAAP net income\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nAdd:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n12,076\n\n\n\n11,605\n\n\n\n22,413\n\n\n\n21,726\n\n\n\nAmortization of acquired intangible asset\n\n138\n\n\n\n135\n\n\n\n276\n\n\n\n277\n\n\n\nRestructuring costs\n\n501\n\n\n\n1,759\n\n\n\n1,682\n\n\n\n4,812\n\n\n\nImpairment charge\n\n—\n\n\n\n1,209\n\n\n\n—\n\n\n\n1,209\n\n\n\nFees related to shareholder activism\n\n—\n\n\n\n210\n\n\n\n—\n\n\n\n2,656\n\n\n\nNon-GAAP net income\n$\n1,540\n\n\n$\n2,071\n\n\n$\n2,493\n\n\n$\n243\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Reconciliation of GAAP to Non-GAAP Results(in thousands, except share and per share data)(Unaudited)\n\n\n\n\n\n \n\n\nReconciliation of GAAP to Non-GAAP basic and diluted net income (loss) per share\n\n\n \n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nGAAP basic and diluted net loss per share:\n\n\n\n\n\n\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nWeighted average common stock outstanding, basic and diluted\n\n41,991,996\n\n\n\n45,866,022\n\n\n\n41,652,834\n\n\n\n46,581,527\n\n\n\nNet loss per share, basic and diluted\n$\n(0.27\n)\n\n$\n(0.28\n)\n\n$\n(0.53\n)\n\n$\n(0.65\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nNon-GAAP basic and diluted net income per share:\n\n\n\n\n\n\n\n\n\nNet loss\n$\n(11,175\n)\n\n$\n(12,847\n)\n\n$\n(21,878\n)\n\n$\n(30,437\n)\n\n\nAdd:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n12,076\n\n\n\n11,605\n\n\n\n22,413\n\n\n\n21,726\n\n\n\nAmortization of acquired intangible asset\n\n138\n\n\n\n135\n\n\n\n276\n\n\n\n277\n\n\n\nRestructuring costs\n\n501\n\n\n\n1,759\n\n\n\n1,682\n\n\n\n4,812\n\n\n\nImpairment charge\n\n—\n\n\n\n1,209\n\n\n\n—\n\n\n\n1,209\n\n\n\nFees related to shareholder activism\n\n—\n\n\n\n210\n\n\n\n—\n\n\n\n2,656\n\n\n\nNon-GAAP net income\n$\n1,540\n\n\n$\n2,071\n\n\n$\n2,493\n\n\n$\n243\n\n\n\nNon-GAAP weighted-average common stock outstanding\n\n\n\n\n\n\n\n\n\nBasic\n\n41,991,996\n\n\n\n45,866,022\n\n\n\n41,652,834\n\n\n\n46,581,527\n\n\n\nDiluted\n\n45,802,883\n\n\n\n50,716,390\n\n\n\n45,713,706\n\n\n\n51,120,544\n\n\n\nNon-GAAP net income per share of common stock:\n\n\n\n\n\n\n\n\n\nBasic\n$\n0.04\n\n\n$\n0.05\n\n\n$\n0.06\n\n\n$\n0.01\n\n\n\nDiluted\n$\n0.03\n\n\n$\n0.04\n\n\n$\n0.05\n\n\n$\n—\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Reconciliation of GAAP to Non-GAAP Results(in thousands)(Unaudited)\n\n\n \n\n\n\n\n\nReconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow\n\n\n \n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nNet cash provided by (used in) operating activities:\n$\n1,388\n\n\n$\n(4,316\n)\n\n$\n3,526\n\n\n$\n(8,483\n)\n\n\nLess: Purchases of property and equipment\n\n(490\n)\n\n\n(554\n)\n\n\n(1,528\n)\n\n\n(732\n)\n\n\nFree cash flow\n$\n898\n\n\n$\n(4,870\n)\n\n$\n1,998\n\n\n$\n(9,215\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nON24, INC.Revenue(in thousands)(Unaudited)\n\n\n \n\n\n\n\n\n\nThree Months Ended June 30,\n\nSix Months Ended June 30,\n\n\n\n\n2024\n\n\n2023\n\n\n2024\n\n\n2023\n\n\nCore Platform\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n33,479\n\n$\n37,000\n\n$\n67,539\n\n$\n74,811\n\n\nProfessional services\n\n3,006\n\n\n3,460\n\n\n5,761\n\n\n6,855\n\n\nTotal core platform revenue\n$\n36,485\n\n$\n40,460\n\n$\n73,300\n\n$\n81,666\n\n\n\n\n\n\n\n\n\n\n\n\nVirtual Conference\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n668\n\n$\n1,336\n\n$\n1,437\n\n$\n2,889\n\n\nProfessional services\n\n196\n\n\n290\n\n\n339\n\n\n594\n\n\nTotal virtual conference revenue\n$\n864\n\n$\n1,626\n\n$\n1,776\n\n$\n3,483\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n\n\nSubscription and other platform\n$\n34,147\n\n$\n38,336\n\n$\n68,976\n\n$\n77,700\n\n\nProfessional services\n\n3,202\n\n\n3,750\n\n\n6,100\n\n\n7,449\n\n\nTotal revenue\n$\n37,349\n\n$\n42,086\n\n$\n75,076\n\n$\n85,149\n\n\n\n\n\n\n\n\n\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240806665591/en/\nContacts\nMedia Contact: Tessa Barronpress@on24.com\nInvestor Contact: Lauren Sloane, The Blueshirt Group for ON24investorrelations@on24.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2457100950"}