Cloud Stocks: ON24 Expands Marketing Offerings

According to a recent report, the global digital experience platform market is expected to grow at 12% CAGR to reach $14.35 billion by 2026 from $7.3 billion in 2020. San Francisco-based ON24 (NYSE: ONTF) continues to expand its product and partner portfolio to expand its market presence.

ON24’s Financials

Recently, ON24 announced its first-quarter financials. Revenues for the quarter grew 102% to $50.1 million, ahead of the market’s forecast of $52.37 million. Non-GAAP EPS was $0.05, ahead of the market’s estimates of $0.53.

By segment, Subscription revenues grew 115.3% to $42.9 million, and Professional service revenues grew 49.2% to $7.2 million.

Among key metrics, ARR increased 90% to $163.1 million at the end of the quarter. Digital experience platform business revenue, excluding legacy revenue, grew 111% to $50 million.

For the fiscal year, ON24 expects revenues of $207.5-$210.5 million and a loss per share of $0.08-$0.02. For the second quarter, ON24 expects revenues of $50.5-$51.5 and an EPS of ($0.01)-$0.01. The market forecast a break-even Q2 with revenues of $51.03 million and revenues of $209.22 million with a loss of $0.04 per share for the full fiscal year.

ON24’s Expanding Offerings

ON24 announced several new enhancements for the sales and marketing teams. For the marketing teams, it released ON24 Breakouts, its new engagement and collaboration function on the ON24 Digital Experience Platform. The new service gives marketing and sales teams the ability to connect in several ways, such as one-to-one discussions, group meetings, and peer-to-peer networking. It also announced a new research portal within the Center for Marketing Transformation to help marketers accelerate their digital-first strategies and transform how they engage customers. The Center for Marketing Transformation provides companies with access to best practices in creating compelling digital experiences and capturing the data they need to drive personalized customer interactions.

1 2
View single page >> |

Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.