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In a recent transaction, Lynrock Lake LP, a significant shareholder of ON24 Inc. (NYSE:ONTF), acquired 38,022 shares of the company’s common stock. The purchase, which took place on March 14, 2025, was executed at a weighted average price of $5.79 per share, amounting to a total value of approximately $220,147. The acquisition comes as ON24’s stock trades near its 52-week low of $5.37, with InvestingPro analysis indicating the stock is currently undervalued based on its Fair Value assessment.
Following this acquisition, Lynrock Lake LP’s total holdings in ON24 have increased to 7,659,474 shares. The shares were acquired indirectly through Lynrock Lake Master Fund LP, with Cynthia Paul, the Chief Investment Officer of Lynrock, playing a key role in the transaction. Paul also holds additional shares directly, totaling 109,240 shares post-transaction. The company maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 2.59x.
Lynrock Lake LP and its affiliates, including Lynrock Lake Partners LLC, continue to be prominent stakeholders in ON24, a company known for its prepackaged software services. While currently unprofitable, analysts tracked by InvestingPro expect the company to return to profitability this year, with comprehensive insights available in the Pro Research Report, along with 10+ additional ProTips for informed investment decisions.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.06, significantly higher than the anticipated $0.01. The company also exceeded revenue forecasts, reporting $36.7 million against a projected $35.87 million. This performance was driven by the launch of their AI-powered ACE platform, which contributed significantly to growth. ON24’s annual recurring revenue (ARR) was reported at $127.3 million, reflecting a 6% year-over-year decline, though the company remains optimistic about a return 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 to the fourth quarter of 2025. Analysts have noted the potential for continued growth, especially with the company’s focus on AI innovations and expansion in regulated industries like life sciences and financial services. Despite the challenges in the marketing budget environment, ON24 has maintained positive free cash flow, reporting $2.6 million for 2024. The company plans to continue investing in AI and other strategic areas to drive future growth.
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