ON24 Reports Q2 Fiscal Year 2023 Earnings Results
August 21, 2023
🌥️Earnings Overview
On June 30, 2023, ON24 ($NYSE:ONTF) announced its earnings results for the second quarter of fiscal year 2023, with total revenue of USD 42.1 million – a 12.7% decrease year-over-year. Net income was reported at USD -12.8 million, an improvement compared to the -16.2 million recorded in the same period in the previous year.
Price History
The company opened the day at $8.0 and closed at the same price, down 1.9% from the previous closing price of $8.1. The company showed strong revenue growth and positive cash flow, which is a good sign for the future of the company. The stock market reacted negatively to the news, but investors should look to their strong financial numbers as proof that ON24 is well positioned for future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for On24. ON24_Reports_Q2_Fiscal_Year_2023_Earnings_Results”>More…
| Total Revenues | Net Income | Net Margin |
| 179.29 | -56.95 | -31.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for On24. ON24_Reports_Q2_Fiscal_Year_2023_Earnings_Results”>More…
| Operations | Investing | Financing |
| -19.51 | 53.94 | -89.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for On24. ON24_Reports_Q2_Fiscal_Year_2023_Earnings_Results”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 320.74 | 103.76 | 4.73 |
Key Ratios Snapshot
Some of the financial key ratios for On24 are shown below. ON24_Reports_Q2_Fiscal_Year_2023_Earnings_Results”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.9% | – | -31.0% |
| FCF Margin | ROE | ROA |
| -12.4% | -13.7% | -10.8% |
Analysis
GoodWhale conducted an analysis of ON24‘s financials and found the company to have an intermediate health score of 6/10. This score is based on our evaluation of their cashflows and debt, which suggests that ON24 may be able to pay off debt and fund future operations. Additionally, the Star Chart showed that ON24 is strong in terms of assets, growth, and profitability, and medium in dividend. We classified ON24 as a ‘rhino’ company, one that has achieved moderate revenue or earnings growth. Given the moderate success and the strength of their assets and growth, ON24 may be an attractive investment for those that are seeking a company with a strong reputation and solid financials. Investors who are looking for a secure investment option with the potential for growth should consider ON24 as an option. More…
Peers
Its competitors are Smartsheet Inc, Lightspeed Commerce Inc, Eventbrite Inc.
– Smartsheet Inc ($NYSE:SMAR)
Smartsheet Inc is a publicly traded company with a market capitalization of 4.47 billion as of 2022. The company has a return on equity of -29.14%. Smartsheet Inc is a provider of cloud-based work management and collaboration solutions. The company’s products are used by organizations of all sizes to manage projects, processes, and daily work.
– Lightspeed Commerce Inc ($TSX:LSPD)
Lightspeed Commerce Inc is a publicly traded company with a market cap of 3.79B as of 2022. The company has a Return on Equity of -6.76%. Lightspeed Commerce Inc is a provider of eCommerce solutions. The company’s platform enables businesses to create and operate online stores.
– Eventbrite Inc ($NYSE:EB)
Eventbrite is a platform for creators of events to manage ticketing and registrations. Eventbrite has a market cap of $647.93M as of 2022 and a Return on Equity of -23.01%. The company was founded in 2006 and is headquartered in San Francisco, CA.
Summary
Investors analyzing ON24 may be concerned by its second quarter earnings results for fiscal year 2023. Total revenue for the quarter declined by 12.7% year-over-year, and net income was reported at -12.8 million, though still an improvement over the -16.2 million reported in the same period last year. It remains to be seen whether ON24 can turn around its financial performance in future quarters and provide investors with a reasonable return on their investments.
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