ON24, Inc.
- Open
- 8.10
- Day high
- 8.11
- Day low
- 8.10
- Prev close
- 8.09
- Volume
- 1.0M
- Mkt cap
- $344M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.5
- P/S
- 2.5
- Yield
- —
- Per share
- —
ON24, Inc. (ONTF) is a Technology company listed on NYSE. The stock is up 55% over the past year.
ON24, Inc. (ONTF) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ONTF earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Feb 25, 2026 | $0.02 | $-0.15 | -865.1% | $35M | +6.2% |
| Aug 7, 2025 | $0.01 | $0.02 | +166.7% | $35M | +4.8% |
| Feb 25, 2025 | $0.02 | $0.06 | +200.0% | $37M | +2.3% |
| Nov 7, 2024 | $0.01 | $0.02 | +100.0% | $36M | +1.3% |
| Feb 22, 2024 | $0.01 | $0.06 | +300.0% | $39M | +5.6% |
| Feb 28, 2023 | $-0.08 | $-0.04 | +50.0% | $47M | +0.8% |
| Feb 28, 2022 | $-0.09 | $-0.03 | +66.7% | $52M | +0.7% |
| Aug 10, 2021 | $-0.14 | $0.04 | +128.6% | $52M | +2.1% |
| Mar 17, 2021 | $0.52 | $0.57 | +9.6% | $53M | — |
ONTF insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 2, 2026 | Vattuone Stevenofficer: Chief Financial Officer | Grant | 79,935 | — |
| Apr 2, 2026 | Sharan Sharatdirector, 10 percent owner, officer: President and Chief Executive | Grant | 478,725 | — |
| Apr 2, 2026 | Sahasi Jayeshofficer: EV President, Product and CTO | Grant | 61,489 | — |
| Apr 2, 2026 | Blackie Jamesofficer: Chief Revenue Officer | Grant | 59,029 | — |
| Mar 24, 2026 | Sahasi Jayeshofficer: EV President, Product and CTO | Sell | 3,662 | $8.07 |
| Mar 24, 2026 | Vattuone Stevenofficer: Chief Financial Officer | Sell | 3,429 | $8.07 |
| Mar 24, 2026 | Sharan Sharatdirector, 10 percent owner, officer: President and Chief Executive | Sell | 17,171 | $8.07 |
| Mar 24, 2026 | Blackie Jamesofficer: Chief Revenue Officer | Sell | 3,117 | $8.07 |
| Mar 5, 2026 | Vattuone Stevenofficer: Chief Financial Officer | Sell | 22,013 | $8.03 |
| Mar 2, 2026 | Vattuone Stevenofficer: Chief Financial Officer | Sell | 22,884 | $8.01 |
| Mar 2, 2026 | Sahasi Jayeshofficer: EV President, Product and CTO | Grant | 29,560 | — |
| Mar 2, 2026 | Vattuone Stevenofficer: Chief Financial Officer | Grant | 27,673 | — |
| Mar 2, 2026 | Sharan Sharatdirector, 10 percent owner, officer: President and Chief Executive | Sell | 15,679 | $8.01 |
| Mar 2, 2026 | Sahasi Jayeshofficer: EV President, Product and CTO | Sell | 21,617 | $8.01 |
| Mar 2, 2026 | Blackie Jamesofficer: Chief Revenue Officer | Grant | 25,157 | — |
Source: ONTF SEC Form 4 filings, latest Apr 2, 2026. For informational purposes only — not investment advice.
See the full ONTF insider & 13F page →ON24, Inc. company profile
Overview
ON24, Inc. (NYSE:ONTF) is a San Francisco-based software company that provides cloud-based digital experience platforms for businesses worldwide. Founded in 1998 and originally known as NewsDirect, Inc., the company went public in February 2021. ON24 specializes in enabling businesses to create interactive webinars, virtual events, and multimedia content experiences that help convert customer engagement into revenue. The company has evolved from its early roots to become a key player in the digital engagement space, particularly serving enterprise customers in regulated industries such as technology, financial services, healthcare, and life sciences.
Business
ON24 operates in the digital experience platform industry, providing cloud-based software solutions that enable businesses to create, manage, and analyze interactive digital events and content. The company's primary offering is a comprehensive platform that allows organizations to host webinars, virtual conferences, and create multimedia content experiences for marketing, sales, and customer engagement purposes. The core product suite includes several key components. ON24 Elite serves as the flagship live and interactive webinar experience, allowing presenters to engage with audiences in real-time through polls, Q&A sessions, and interactive features. ON24 Virtual Conference enables large-scale virtual events that can accommodate thousands of attendees with networking capabilities. ON24 Breakouts provides live breakout room functionality for smaller group interactions and collaboration. ON24 Go Live offers face-to-face video event experiences for more intimate presentations. The platform also includes content management capabilities through ON24 Engagement Hub, which creates rich multimedia content experiences, and ON24 Target, which delivers personalized and curated content to specific audiences. A critical differentiator is ON24 Intelligence, the analytics backbone that captures first-person audience data to power insights, reporting, and artificial intelligence capabilities. The company has recently introduced AI-powered ACE (Analytics and Content Engine), which represents a significant evolution in their offering. This AI-driven solution provides personalization at scale, automated content generation, and intelligent campaign management. Additionally, ON24 Connect serves as an ecosystem of third-party application integrations, allowing customers to connect the platform with their existing marketing and sales technology stack. Revenue is primarily generated through subscription-based software licensing, with professional services representing approximately 7% of total revenue. The platform serves as mission-critical infrastructure for digital marketing and sales teams, particularly in industries where compliance, security, and detailed analytics are essential requirements.
Competitive moat
ON24's competitive moat is moderate but faces increasing pressure from both established players and emerging technologies. The company's primary defensive advantages stem from its specialized focus on enterprise-grade digital engagement platforms with deep analytics capabilities and strong compliance features required by regulated industries. Key moat elements include the platform's comprehensive first-party data capture and analytics capabilities through ON24 Intelligence, which creates valuable insights that become more powerful as customers use the platform over time. The company has built strong integration capabilities with enterprise marketing and sales technology stacks through ON24 Connect, creating switching costs for customers who have embedded the platform into their workflows. Additionally, ON24's focus on regulated industries like financial services and life sciences has resulted in specialized compliance and security features that create barriers for generic competitors. The introduction of AI-powered ACE represents an attempt to strengthen the moat through advanced personalization and content generation capabilities. With 30% of customers already using AI features and growing adoption, this could create differentiation in an increasingly commoditized market. Moat vulnerabilities are significant, however. The digital events and webinar space has numerous competitors ranging from large technology companies like Microsoft (Teams), Zoom, and Adobe to specialized players like BigMarker, GoToWebinar, and Demio. Many of these competitors offer similar core functionality at potentially lower price points. The company's customer concentration in certain verticals, while providing specialization benefits, also creates vulnerability to industry-specific downturns. The shift toward hybrid and in-person events post-pandemic has reduced the total addressable market compared to the peak digital adoption period of 2020-2021. Furthermore, the rapid advancement of AI technologies means that ON24's current AI advantages may be temporary unless the company can maintain its pace of innovation against well-funded competitors. Overall, ON24 operates in a competitive market with moderate switching costs and differentiation primarily based on enterprise features and industry specialization rather than fundamental technological advantages.
Risks & safety
ON24 presents a moderate margin of safety with improving financial metrics but ongoing profitability challenges. Liquidity and Solvency: 1. Cash position of $26.8 million with current ratio of 2.53, indicating adequate short-term liquidity 2. Very low debt-to-equity ratio of 0.018, minimal solvency risk 3. Positive free cash flow of $1.9 million in Q1 2025, showing operational improvement 4. $50 million share repurchase program announced, indicating management confidence Valuation Metrics: 1. Trading at 1.42x price-to-book ratio, relatively reasonable for a SaaS company 2. EV/EBITDA of -4.65 due to negative EBITDA, though company approaching profitability 3. Graham net-net ratio of 2.56, suggesting potential asset value protection 4. Market cap of approximately $235 million against $129.7 million ARR Other Considerations: 1. Revenue declining 6-7% year-over-year, indicating business contraction 2. Negative EBITDA of -$10.5 million in Q1 2025, though improving toward breakeven 3. Customer concentration risk with enterprise focus 4. Competitive market pressures and post-pandemic normalization headwinds
Recent development
Over the past few years, ON24 has undergone significant strategic transformation focused on three key pillars: platform innovation, enterprise go-to-market strategy, and achieving profitability. The most significant development has been the launch and expansion of AI-powered ACE (Analytics and Content Engine), which now represents over 20% of new growth ARR bookings and is used by 30% of the customer base. The company has pivoted from a broad-market approach to a focused enterprise strategy targeting regulated industries, particularly financial services, life sciences, and healthcare. This shift included hiring new senior sales leadership and restructuring the go-to-market organization around vertical-specific solutions. The enterprise focus has shown results, with ON24 achieving its best enterprise new logo performance in five quarters during Q1 2025. Product innovation has centered around AI capabilities, with the introduction of ON24 IQ Intelligent Agents designed to automate routine tasks and provide intelligent insights. The company has also enhanced multi-lingual capabilities and expanded personalization features. These AI-powered solutions command premium pricing, with customers in the low-teens percentage paying specifically for AI-powered products. Operational transformation has been equally significant, with the company reducing its annual cost structure by approximately $61 million while achieving six consecutive quarters of positive adjusted EBITDA. This cost discipline has enabled ON24 to reach free cash flow positivity while continuing to invest in product development and AI capabilities. The company has also strengthened its market position through strategic initiatives including the "Propel Forward" global marketing campaign, the hiring of David Lee as Chief Marketing Officer, and increased focus on multi-year contracts, which now represent 51% of ARR. Customer win-back efforts have intensified, with Q1 2025 representing the largest customer win-back quarter in five quarters.
ONTF company profile · for informational purposes only — not investment advice.
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