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SAN FRANCISCO—Anil Arora, a director at ON24 Inc. (NYSE:ONTF), recently made significant acquisitions of the company’s common stock, according to a recent SEC filing. On March 11 and March 13, Arora purchased a total of 8,700 shares, with a combined value of $49,185. The transactions were executed at prices ranging from $5.50 to $5.6542 per share, near the stock’s 52-week low of $5.37. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 2.59.
These purchases have increased Arora’s direct holdings to 126,048 shares. The acquisitions were conducted on the open market, as noted in the filing. With a gross profit margin of 74.6% and trading below its Fair Value based on InvestingPro analysis, ON24 shows potential for value investors. Subscribers can access 10 additional ProTips and comprehensive valuation metrics through the Pro Research Report.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, exceeding expectations with an earnings per share (EPS) of $0.06, compared to the forecasted $0.01. Revenue also surpassed projections, reaching $36.7 million against a forecast of $35.87 million. The company highlighted its AI-powered ACE platform as a significant contributor to growth, accounting for over 20% of new ARR bookings. ON24’s annual recurring revenue (ARR) stood at $127.3 million, reflecting a 6% decline year-over-year, but the company remains optimistic about returning to ARR growth in 2025. The company has set a full-year 2025 revenue guidance between $136.3 million and $139.3 million, with expectations to achieve EBITDA positivity from the second quarter onwards. Analyst firms have not provided any recent upgrades or downgrades for ON24. The company has also announced a $25 million share repurchase program, with $23.6 million utilized to date. ON24 continues to focus on platform innovation and strategic investments in AI to drive future growth.
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