According to analysts, marketing technology (MarTech) will be a key driver for recovery in the current pandemic market conditions. A Gartner study reveals that more than 60% of the leaders are looking to invest in marketing related technologies in the current year. San Francisco-based ON24 (NYSE:ONTF) is a leading player within the space that went public earlier this year. Despite the current turbulent times, the company reported stellar results.

ON24’s Financials
ON24’s fourth quarter revenues grew 123% to $53.3 million, ahead of the market’s forecast of $52.37 million. Non GAAP EPS was $0.57, ahead of the market’s estimates of $0.53.

By segment, Subscription revenues grew 114.6% to $41.3 million, and Professional service revenues grew 155% to $12.04 million.

Among key metrics, its customer count grew 42% to almost 2,000 at the end of the year. Customers with ARR of more than $100K grew 110% to over 300. Customers utilizing two or more products accounted for 30% of their total customer base.

It ended the year with revenues growing 76% to $156.9 million with a net income of $0.35 per share.

For the current year, ON24 expects revenues between $205.5-$208.5 million and a loss per share of $0.14-$0.07. For the first quarter, ON24 expects revenues of $48.5-$49 and an EPS of $0.00-$0.01. The market forecast revenues of $47.1 million for the quarter with a loss of $0.02 per share and revenues of $205 million for the year with a loss of $0.15 per share.

ON24’s Expanding Offerings

Recently, ON24 announced its new enterprise solution that will help customers enhance their audience engagement and provide insights that will integrate with sales and marketing processes. By combining ON24 Live with On-Demand Captioning, ON24 Intelligence, and ON24 Connect, the solution allows marketers to maximize the performance of their digital platforms, while also driving valued sales interactions and accelerating the buying journey of prospects. The solution will enable live and on-demand captioning in over 60 languages, thus expanding market reach to customers globally. It will also enable marketers to monitor programs and access detailed prospect insights.

Given the continued lockdown conditions, ON24 also recently launched the Virtual Conference Professional (Pro) for live and on-demand digital events to help marketers set up interactive, multi-session, and multi-day global events. The service has been integrated with the ON24 Digital Experience Platform, including ON24 Webcast Elite and ON24 Connect to provide personalized, interactive engagement. It provides self-service templates and tools and expert support to help set up large-scale events that include custom event tracks, multimedia content, and personalized attendee experiences. The solution has become a critical requirement for organizations who want to reach a global audience but are unable to do so due to global travel restrictions.

Its stock is trading at $43.70 with a market capitalization of $2.02 billion. ON24 had gone public earlier this year when it raised $428 million at a list price of $50. The stock had climbed to $77 soon after listing. It has recovered from the low of $40 that it had fallen to earlier this month.

According to marketing gurus, marketing executives have access to over 8,000 marketing solutions and they use more than five tools every day to get their work done. With the increasing demand for marketing solutions, marketers will be looking for single-stop shops to take care of their needs. As I said earlier, I expect ON24 to become an active buyer of promising companies to widen its offering portfolio.