These transactions were carried out under a pre-arranged trading plan established earlier this year, demonstrating a structured approach to asset management by Jayesh. Based on InvestingPro Fair Value analysis, ON24 appears to be trading near its Fair Value, with analysts maintaining price targets between $7 and $9 per share. Based on InvestingPro Fair Value analysis, ON24 appears to be trading near its Fair Value, with analysts maintaining price targets between $7 and $9 per share.
These transactions were carried out under a pre-arranged trading plan established earlier this year, demonstrating a structured approach to asset management by Jayesh. Based on InvestingPro Fair Value analysis, ON24 appears to be trading near its Fair Value, with analysts maintaining price targets between $7 and $9 per share.
These transactions were carried out under a pre-arranged trading plan established earlier this year, demonstrating a structured approach to asset management by Jayesh.
In other recent news, ON24, a prominent webinar and virtual event platform, reported its third quarter 2024 financial results, surpassing its guidance with a total revenue of $36.3 million. The company's core platform revenue was $35.6 million, with subscription revenue contributing $33.9 million, and professional services adding $2.5 million. Despite a slight quarter-over-quarter decline in core platform Annual Recurring Revenue (ARR), down about 1% to $129.7 million, ON24 showcased a smaller year-over-year decline and a stabilizing customer base.
The company's AI-powered ACE solution is contributing to new customer acquisitions and retention, with a particular emphasis on regulated industries such as life sciences. ON24 has set its sights on achieving full-year profitability by 2025, with positive adjusted EBITDA and EPS in 2024, and targeting double-digit EBITDA margins in the long term. The company expects to return to ARR growth in 2025, driven by AI innovations and a stable customer base.
ON24 forecasts Q4 total revenue between $35.4 million and $36.4 million, with core platform revenue projected between $143.6 million and $144.6 million for the full year 2024. The company's strong cash position of $188.8 million at the end of Q3 supports its growth and profitability focus for 2025. Despite the challenges, ON24 remains cautiously optimistic as it navigates the market and aims for profitability and growth in the upcoming year.
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