ON24 Inc. Files Q1 2024 10-Q Report

TL;DR

<b>ON24 Inc. filed its Q1 2024 10-Q report on May 8, 2024, detailing financial performance and business operations.</b>

AI Summary

ON24 INC. (ONTF) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. ON24 Inc. reported Q1 2024 results on May 8, 2024. The filing covers the period ending March 31, 2024. The company's headquarters are located at 50 Beale Street, San Francisco, CA. ON24 Inc. operates in the prepackaged software industry (SIC 7372). The report was filed as of May 8, 2024.

Why It Matters

For investors and stakeholders tracking ON24 INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data for ON24 Inc., crucial for assessing recent performance and future outlook. Understanding the details within this report allows stakeholders to evaluate the company's financial health, operational efficiency, and market position in the software sector.

Risk Assessment

Risk Level: low — ON24 INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Monitor ON24 Inc.'s subsequent filings for trends in revenue, profitability, and customer growth to inform investment decisions.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-08 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024 Q1)
• 1231 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• ON24 INC. (company) — CONFORMED NAME
• 50 BEALE STREET, 8TH FLOOR (location) — BUSINESS ADDRESS
• SAN FRANCISCO (location) — CITY
• CA (location) — STATE
• 94105 (location) — ZIP
• 0001110611 (company) — CENTRAL INDEX KEY
• 7372 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION

FAQ

Industry Context

ON24 Inc. operates in the software industry, specifically focusing on webinar and virtual event solutions.

Regulatory Implications

The filing is a standard Form 10-Q, which is a quarterly report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze revenue breakdown by segment (Subscription and Other Platform vs. Professional Services) if available in the full document.
3. Assess any disclosed risks or forward-looking statements made by ON24 Inc. in the report.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the Q1 2024 10-Q.
• 2024-05-08: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous fiscal year-end report (likely a 10-K) and the Q4 2023 10-Q.

Key Financial Figures

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

Filing Documents

• ontf-20240331.htm (10-Q) — 1332KB
• ex-311ontfx20240331.htm (EX-31.1) — 10KB
• ex-312ontfx20240331.htm (EX-31.2) — 10KB
• ex-321ontfx20240331.htm (EX-32.1) — 5KB
• ex-322ontfx202403x31.htm (EX-32.2) — 5KB
• 0001110611-24-000022.txt (&nbsp;) — 7229KB
• ontf-20240331.xsd (EX-101.SCH) — 51KB
• ontf-20240331_cal.xml (EX-101.CAL) — 81KB
• ontf-20240331_def.xml (EX-101.DEF) — 280KB
• ontf-20240331_lab.xml (EX-101.LAB) — 659KB
• ontf-20240331_pre.xml (EX-101.PRE) — 483KB
• ontf-20240331_htm.xml (XML) — 911KB

Financial Statements (Unaudited)

Item 1 Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8

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

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

Item 3 Quantitative and Qualitative Disclosures about Market Risk 29

Controls and Procedures

Item 4 Controls and Procedures 30 PART II OTHER INFORMATION 30

Legal Proceedings

Item 1 Legal Proceedings 30

Risk Factors

Item 1A Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 55

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55

Other Information

Item 5 Other Information 55

Exhibits

Item 6 Exhibits 56 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, 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 applications; complian

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. ON24, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share data) (Unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 18,292 $ 53,209 Marketable securities 177,766 145,497 Accounts receivable, net of allowances and reserves of $ 3,857 and $ 3,621 as of March 31, 2024 and December 31, 2023, respectively 28,523 37,939 Deferred contract acquisition costs, current 12,349 12,428 Prepaid expenses and other current assets 6,922 4,714 Total current assets 243,852 253,787 Property and equipment, net 6,130 5,371 Operating right-of-use assets 2,650 2,981 Intangible asset, net 1,102 1,305 Deferred contract acquisition costs, non-current 14,421 15,756 Other long-term assets 1,009 1,102 Total assets $ 269,164 $ 280,302 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 1,713 $ 1,914 Accrued and other current liabilities 13,559 16,907 Deferred revenue 73,117 74,358 Finance lease liabilities, current 44 127 Operating lease liabilities, current 2,867 2,779 Total current liabilities 91,300 96,085 Operating lease liabilities, non-current 1,775 2,483 Other long-term liabilities 1,666 1,517 Total liabilities 94,741 100,085 Commitments and contingencies (Note 8) Stockholders' equity Common stock, $ 0.0001 par value per share; 500,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 41,796,012 and 41,189,321 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 4 4 Additional paid-in capital 490,896 485,291 Accumulated deficit ( 316,216 ) ( 305,513 ) Accumulated other comprehensive income (loss) ( 261 ) 435 Total stockholders' equity 174,423 180,217 Total liabilities and stockholders' equity $ 269,164 $ 280,302 S ee accompanying notes to condensed consolidated financial statements. 3 Table of Contents ON24, Inc. Condensed Consolidated Statements of Operati

View Full Filing

View this 10-Q filing on SEC EDGAR