JOLTS Job Openings (Jun) 7.44M vs 7.5M Expected
Sahasi Jayesh, the Executive Vice President, Product and CTO of ON24 Inc. (NYSE:ONTF), recently sold shares of the company’s stock, according to a recent SEC filing. The company, currently valued at $236 million, trades near its 52-week low with technical indicators suggesting oversold conditions, according to InvestingPro analysis. The transactions, executed under a Rule 10B5-1 trading plan, occurred on March 3 and March 4. Jayesh sold a total of 11,417 shares, generating proceeds of $63,410. The shares were sold at a weighted average price ranging from $5.41 to $5.68 on March 3, and from $5.41 to $5.59 on March 4. Following these transactions, Jayesh holds 680,553 shares of ON24. The sales were primarily conducted to cover tax withholding obligations related to the vesting of restricted stock units. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt and ample liquidity to meet short-term obligations. Discover 10+ additional exclusive insights and detailed analysis in the Pro Research Report, available with an InvestingPro subscription.
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. The company’s revenue also surpassed projections, reaching $36.7 million against an expected $35.87 million. This performance highlights a positive shift in ON24’s financial health and operational efficiency. Additionally, the company reported a positive free cash flow of $2.6 million for the year. ON24’s AI-powered ACE platform was a significant contributor to its growth, with ACE accounting for over 20% of 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. 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 to the fourth quarter of 2025. Analysts from firms like JPMorgan and Needham have shown interest in the company’s strategic focus on AI and regulated industries, reflecting confidence in its potential for ARR growth in the coming year.
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