ON24 Inc. Q3 2024 10-Q Filing

TL;DR

ON24 Q3 2024 10-Q is in. Check financials for subscription & services revenue.

AI Summary

ON24 Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance for the third quarter and the first nine months of 2024, including revenue from subscription and professional services. The company is headquartered at 50 Beale Street, San Francisco, CA.

Why It Matters

This filing provides investors with the latest financial results and operational details for ON24 Inc., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-09-30 — Period End Date (Financial reporting period)
• 2024-01-01 — Period Start Date (Financial reporting period)

Key Players & Entities

• ON24 INC. (company) — Filer
• 50 BEALE STREET, 8TH FLOOR (location) — Business Address
• SAN FRANCISCO (location) — City
• CA (location) — State
• 94105 (location) — ZIP Code
• 2024-09-30 (date) — Period of Report
• 2024-11-12 (date) — Filed as of Date

FAQ

Key Financial Figures

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

Filing Documents

• ontf-20240930.htm (10-Q) — 1751KB
• ex-101on24thirdamendmentto.htm (EX-10.1) — 39KB
• ex-311ontfx20240930.htm (EX-31.1) — 10KB
• ex-312ontfx20240930.htm (EX-31.2) — 10KB
• ex-321ontfx20240930.htm (EX-32.1) — 5KB
• ex-322ontfx20240930.htm (EX-32.2) — 5KB
• 0001110611-24-000035.txt ( ) — 8390KB
• ontf-20240930.xsd (EX-101.SCH) — 52KB
• ontf-20240930_cal.xml (EX-101.CAL) — 85KB
• ontf-20240930_def.xml (EX-101.DEF) — 283KB
• ontf-20240930_lab.xml (EX-101.LAB) — 690KB
• ontf-20240930_pre.xml (EX-101.PRE) — 498KB
• ontf-20240930_htm.xml (XML) — 1163KB

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 20

Quantitative and Qualitative Disclosures about Market Risk

Item 3 Quantitative and Qualitative Disclosures about Market Risk 31

Controls and Procedures

Item 4 Controls and Procedures 32 PART II OTHER INFORMATION 32

Legal Proceedings

Item 1 Legal Proceedings 32

Risk Factors

Item 1A Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 57

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 57 Item 4. Mine Safety Disclosures 57

Other Information

Item 5 Other Information 57

Exhibits

Item 6 Exhibits 58 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; fluctuation in our performance, our history of net losses and any increases in our expenses; our ability to attract new customers and expand sales to existing customers. 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 any cybersecurity-related attack, significant data breach or disruption of the information technology systems or networks on which we rely; disruptions, interruptions, outages or other issues with our technology or our use of third-party services, data connectors and data centers; the impact of the resumption of in-person marketing activities on our customer growth rate; 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) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 11,017 $ 53,209 Marketable securities 177,829 145,497 Accounts receivable, net of allowances and reserves of $ 3,835 and $ 3,621 as of September 30, 2024 and December 31, 2023, respectively 23,750 37,939 Deferred contract acquisition costs, current 11,312 12,428 Prepaid expenses and other current assets 6,742 4,714 Total current assets 230,650 253,787 Property and equipment, net 4,400 5,371 Operating right-of-use assets 1,900 2,981 Intangible asset, net 853 1,305 Deferred contract acquisition costs, non-current 12,433 15,756 Other long-term assets 695 1,102 Total assets $ 250,931 $ 280,302 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 2,687 $ 1,914 Accrued and other current liabilities 14,781 16,907 Deferred revenue 63,631 74,358 Finance lease liabilities, current — 127 Operating lease liabilities, current 2,926 2,779 Total current liabilities 84,025 96,085 Operating lease liabilities, non-current 440 2,483 Other long-term liabilities 1,583 1,517 Total liabilities 86,048 100,085 Commitments and contingencies (Note 8) Stockholders' equity Common stock, $ 0.0001 par value per share; 500,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 42,032,232 and 41,189,321 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 4 4 Additional paid-in capital 502,813 485,291 Accumulated deficit ( 338,797 ) ( 305,513 ) Accumulated other comprehensive income (loss) 863 435 Total stockholders' equity 164,883 180,217 Total liabilities and stockholders' equity $ 250,931 $ 280,302 S ee accompanying notes to condensed consolidated financial statements. 3 Table of Contents ON24, Inc. Condensed Consolidated Statements of Op

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View this 10-Q filing on SEC EDGAR