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Lynrock Lake LP, a significant shareholder in ON24 Inc. (NYSE:ONTF), has increased its stake in the company with recent stock purchases totaling $467,676. The transactions, which took place over three consecutive days from March 3 to March 5, 2025, involved the acquisition of 27,921 shares each day. The purchase prices ranged from $5.54 to $5.64 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 acquisitions were executed by Lynrock Lake Master Fund LP, with the investment manager Lynrock Lake LP and general partner Lynrock Lake Partners LLC overseeing the transactions. Cynthia Paul, Chief Investment Officer of Lynrock and Sole Member of Lynrock GP, is also involved in these transactions. The insider buying aligns with management’s recent share buyback activities, as noted in InvestingPro’s analysis.
Following these purchases, Lynrock Lake LP now holds a total of 7,413,522 shares of ON24 Inc., reflecting their continued confidence in the prepackaged software services company based in San Francisco. With a market capitalization of $236 million and trading slightly below its Fair Value according to InvestingPro’s analysis, ON24 shows potential for value investors. Discover more insights and 8 additional ProTips about ON24 with an InvestingPro subscription.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.06 against the forecasted $0.01. The company’s revenue also exceeded projections, coming in at $36.7 million compared to the expected $35.87 million. These results reflect a positive shift in ON24’s financial health and operational efficiency. The company has also launched its AI-powered ACE platform, which contributed significantly to growth and accounted 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, the company remains optimistic about returning to ARR growth in 2025, projecting a 1-2% increase. Analysts from firms such as JPMorgan have shown interest in the company’s strategy in the current marketing environment. The company has also 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 to the fourth quarter of 2025. ON24’s CFO, Steve Bataloni, expressed confidence in maintaining profitability and achieving strategic goals in the coming year.
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