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Lynrock Lake LP has recently disclosed a series of stock acquisitions in ON24 Inc. (NYSE:ONTF), totaling $646,374. The transactions were executed over a span of three days, from March 11 to March 13, 2025. The shares were acquired at prices ranging from $5.61 to $5.75 per share. According to InvestingPro data, ON24’s stock is currently trading near its 52-week low of $5.37, with analysis suggesting the stock may be undervalued.
The purchases were conducted in three separate transactions, each involving 38,022 shares. Following these acquisitions, Lynrock Lake LP’s total ownership in ON24 Inc. stands at 7,621,452 shares. These shares are held indirectly through Lynrock Lake Master Fund LP, with Cynthia Paul, Chief Investment Officer of Lynrock, playing a significant role in the investment decisions. The company maintains a strong financial position with a current ratio of 2.59 and more cash than debt on its balance sheet.
This series of transactions highlights Lynrock Lake LP’s continued interest in ON24 Inc., a company known for its prepackaged software services. The purchases reflect confidence in the company’s prospects, aligning with the strategic interests of Lynrock Lake LP and its affiliates. While currently unprofitable, analysts tracked by InvestingPro expect the company to turn profitable this year, with detailed analysis and 8 additional key insights available through the Pro Research Report.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.06, significantly higher than the forecasted $0.01. The company also exceeded revenue projections, reporting $36.7 million against an anticipated $35.87 million. These results indicate a positive development in ON24’s financial performance and operational efficiency. The company’s AI-powered ACE platform has contributed significantly to growth, accounting for over 20% of the company’s growth in annual recurring revenue (ARR) bookings. Despite a 6% year-over-year decline in core platform revenue, ON24’s annual ARR stood at $127.3 million. Analysts from firms like Needham and Company have shown interest in the company’s future cash flow, with expectations of continued positive cash flow in 2025. The company has also announced a new $25 million share repurchase program, following the completion of two previous capital return programs. ON24 remains optimistic about returning to ARR growth in 2025, with a projected 1-2% increase.
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