ON24 Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ON24 Inc. has filed its 2023 10-K report detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ON24 INC. (ONTF) filed a Annual Report (10-K) with the SEC on March 14, 2024. ON24 Inc. reported its 2023 fiscal year results in a Form 10-K filing. The filing covers the period ending December 31, 2023. ON24 Inc. is headquartered at 50 Beale Street, San Francisco, CA. The company's primary business is in prepackaged software services. The filing was made on March 14, 2024.

Why It Matters

For investors and stakeholders tracking ON24 INC., this filing contains several important signals. The 10-K filing provides a comprehensive overview of ON24's financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors to assess the company's current standing and future prospects. This filing is a key document for understanding ON24's revenue streams, including subscription and professional services, and its overall financial position, which is essential for making informed investment decisions.

Risk Assessment

Risk Level: — ON24 INC. shows moderate risk based on this filing. The company's financial performance and growth trajectory are subject to market competition and evolving customer needs in the webinar and virtual event platform space, as indicated by the nature of its business in prepackaged software services.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess ON24's competitive positioning and future growth potential.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-14 — Filing Date (FILED AS OF DATE)
• 50 Beale Street, 8th Floor — Business Address (STREET 1)
• 94105 — ZIP Code (ZIP)
• 415-369-8000 — Business Phone (BUSINESS PHONE)

Key Players & Entities

• ON24 INC. (company) — FILER
• ON24 INC. (company) — COMPANY CONFORMED NAME
• San Francisco (location) — CITY
• CA (location) — STATE
• DE (location) — STATE OF INCORPORATION

FAQ

Industry Context

ON24 Inc. operates in the software industry, specifically focusing on prepackaged software services, likely related to virtual event and webinar platforms.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports on Form 10-K.

What Investors Should Do

1. Review ON24's detailed financial statements for FY 2023.
2. Analyze the risk factors section for potential business challenges.
3. Assess the company's competitive landscape within the software services industry.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period end date
• 2024-03-14: Filing Date — Date the 10-K was officially filed

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share ONTF New York Stock Exchange

Filing Documents

• ontf-20231231.htm (10-K) — 2205KB
• ex-211ontfsubsidiaries2023.htm (EX-21.1) — 5KB
• ex-231ontfx20231231.htm (EX-23.1) — 2KB
• ex-311ontfx20231231.htm (EX-31.1) — 10KB
• ex-312ontfx20231231.htm (EX-31.2) — 10KB
• ex-321ontfx20231231.htm (EX-32.1) — 5KB
• ex-322ontfx20231231.htm (EX-32.2) — 5KB
• ex971on24policyforrecovery.htm (EX-97.1) — 28KB
• on24logoex971a.jpg (GRAPHIC) — 50KB
• ontf-20231231_g1.jpg (GRAPHIC) — 61KB
• ontf-20231231_g2.jpg (GRAPHIC) — 193KB
• ontf-20231231_g3.jpg (GRAPHIC) — 135KB
• ontf-20231231_g4.jpg (GRAPHIC) — 121KB
• 0001110611-24-000009.txt (&nbsp;) — 13227KB
• ontf-20231231.xsd (EX-101.SCH) — 77KB
• ontf-20231231_cal.xml (EX-101.CAL) — 128KB
• ontf-20231231_def.xml (EX-101.DEF) — 432KB
• ontf-20231231_lab.xml (EX-101.LAB) — 974KB
• ontf-20231231_pre.xml (EX-101.PRE) — 745KB
• ontf-20231231_htm.xml (XML) — 1778KB

Risk Factors

Item 1A Risk Factors 16

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 40

Cybersecurity

Item 1C Cybersecurity 40

Properties

Item 2 Properties 41

Legal Proceedings

Item 3 Legal Proceedings 41 Item 4. Mine Safety Disclosures 41 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 43

Quantitative and Qualitative Disclosures about Market Risk

Item 7A Quantitative and Qualitative Disclosures about Market Risk 56

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 57

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 86

Controls and Procedures

Item 9A Controls and Procedures 86

Other Information

Item 9B Other Information 87

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 87

Executive Compensation

Item 11. Executive Compensation 87

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 87

Certain Relationships and Related Transactions and Director Independence

Item 13. Certain Relationships and Related Transactions and Director Independence 87

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 87 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 87

Form 10-K Summary

Item 16. Form 10-K Summary 87

Signatures

Signatures 88 P ower of Attorney 89 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, or this Report, contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. The forward-looking statements are contained principally in, but not limited to, the sections titled "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipates," "believes," "could," "seeks," "estimates," "expects," "intends," "may," "plans," "potential," "predicts", "projects," "should," "will," "would" or similar expressions and the negatives of those terms. Forward-looking statements include, but are not limited to, statements about our ability to grow our revenue; our ability to attract new customers and expand sales to existing customers. fluctuation in our performance, our history of net losses and any increases in our expenses; competition and technological development in our markets and any decline in demand for our solutions or generally in our markets; adverse general economic and market conditions and spending on sales and marketing technology; our ability to expand our sales and marketing capabilities and achieve growth; the impact of the resumption of in-person marketing activities on our customer growth rate; disruptions, interruptions, outages or other issues with our technology or our use of third-party services, data connectors and data centers; the impact of any cybersecurity-related attack, significant data breach or disruption of the information technology systems or networks on which we rely; our sales cycle, our international presence and our timing of revenue recognition from our sales; interoperability with other devices, systems and applic

Business

Item 1. Business. Overview We provide a leading, cloud-based intelligent engagement platform that combines best-in-class experiences with personalization and content, to enable sales and marketing organizations to capture and act on connected insights at scale. Our platform's portfolio of interactive and hyper-personalized digital experience products creates and captures actionable, real-time data at scale from millions of professionals to provide businesses with buying signals and behavioral insights to efficiently convert prospects into customers. Similar to what has taken place in the business-to-consumer, or B2C, market, our platform for intelligent engagement empowers business-to-business, or B2B, companies with insights to better personalize their engagement. Large social media platforms have been successful at leveraging experiences and insights of consumers on their platforms to enable B2C companies to effectively understand their potential consumers. While these have been effective in the B2C market, B2B companies often lack deep insights about prospective customers to effectively understand and engage them. Businesses today primarily use traditional sales and marketing solutions, such as digital advertising and email, for marketing. While these traditional solutions reach large numbers of prospective customers, they have generally failed to deepen customer engagement because they were designed with the simple purpose of pushing marketing messages in one direction – from the business to the prospective customer. As a result, marketing at scale has become synonymous with spam, which is often ignored by prospective customers and can even undermine the customer relationship. At the same time, prospective customers prefer to do their own research by accessing digital marketing resources before consulting with a salesperson to make a purchasing decision. For most businesses to succeed, we believe their sales and marketing strategies must have digital engage

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View this 10-K filing on SEC EDGAR