Overview

* ON24 ( ONTF ) Q2 revenue of $35.3 mln beats analyst expectations, per LSEG data

* Adjusted net income for Q2 beats estimates; GAAP net loss of $7.3 mln

* Co achieves positive operating and free cash flow for 6th consecutive quarter

Outlook

* ON24 ( ONTF ) expects Q3 revenue of $33.6 mln to $34.2 mln

* Company forecasts full-year revenue of $137.7 mln to $138.7 mln

* ON24 ( ONTF ) anticipates Q3 non-GAAP net income per share of $0.00 to $0.02

* Company projects full-year non-GAAP operating loss of $5.2 mln to $3.8 mln

Result Drivers

* GROSS RETENTION - Achieved highest gross retention rate in past 4 years, enhancing customer loyalty

* MULTI-YEAR AGREEMENTS - Record percentage of ARR in multi-year agreements, boosting revenue stability

* AI ADOPTION - Increased adoption of AI-powered ACE solutions, driving engagement and customer growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $35.30 $34.70

Revenue mln mln (4

Analysts

)

Q2 Beat $1 mln $259,300

Adjusted (3

Net Analysts

Income )

Q2 Net -$7.30

Income mln

Q2 Beat -$900,00 -$1.12

Adjusted 0 mln (4

Operatin Analysts

g Income )

Q2 ARR $127.10

mln

Q2 Free $2.10

Cash mln

Flow

Q2 -$9.20

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy."

* Wall Street's median 12-month price target for ON24 Inc ( ONTF ) is $5.00, about 1.4% above its August 6 closing price of $4.93

* The stock recently traded at 138 times the next 12-month earnings vs. a P/E of 107 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)