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SAN FRANCISCO - ON24 (NYSE: ONTF), a provider of intelligent engagement platforms for B2B sales and marketing with a market capitalization of $200 million, announced Monday the appointment of David Lee as Chief Marketing Officer (CMO). Lee, with his extensive experience in enterprise B2B technology and SaaS, is set to lead ON24’s go-to-market strategy and support the growth of the company’s AI-powered engagement platform. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt and an impressive 74.6% gross profit margin.
Lee’s career includes leadership roles at various enterprise B2B technology firms. Before joining ON24, he served as CMO at Envestnet | Yodlee, where he played a key role in the company’s revenue growth and its initial public offering. His previous positions also include Vice President of Marketing at SonicWall and executive roles at Palm Computing, Quaker Oats, and Procter & Gamble.
Sharat Sharan, CEO of ON24, expressed enthusiasm about Lee’s appointment, highlighting his track record in building marketing organizations and driving growth. Lee himself commented on the opportunity to contribute to ON24’s mission in this "new era of AI-powered, first-party customer engagement."
ON24’s platform is designed to assist businesses in engaging with customers through personalized content and insights, aiming to accelerate growth and the buyer journey. The company serves top global firms across various industries, providing a source of first-party data to drive sales and marketing innovation.
This move comes as ON24 seeks to enhance its position in the market and capitalize on the increasing importance of AI in customer engagement strategies. While the company isn’t currently profitable, InvestingPro analysis indicates analysts expect profitability this year. For deeper insights into ON24’s financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, investors can access the detailed Pro Research Report available on InvestingPro.
The information for this article is based on a press release statement.
In other recent news, ON24 Inc. reported its first-quarter 2025 financial results, highlighting a mixed performance. The company missed earnings per share (EPS) expectations, reporting -$0.01 compared to the forecasted $0.02, marking a $0.03 shortfall. However, revenue slightly exceeded projections, coming in at $34.7 million against an expected $34.28 million. Despite the earnings miss, ON24 maintained positive free cash flow for the fifth consecutive quarter. The company is also expanding its artificial intelligence capabilities and customer base, aiming to diversify beyond its traditional technology and manufacturing sectors. Additionally, ON24 announced a new $50 million share repurchase program, indicating confidence in its long-term strategy. Looking ahead, the company projects core platform revenue for Q2 2025 to be between $33.8 million and $34.4 million, with a focus on achieving positive adjusted EBITDA for the quarter and the full year. The company is navigating macroeconomic uncertainties while emphasizing customer satisfaction and engagement.
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