Webinar publishing platform ON24, in its first quarterly report since coming public February 3rd, this afternoon reported Q4 revenue and profit that beat Wall Street’s expectations, and an outlook for the quarter and the year that was higher as well.
The report sent ON24 shares up 3% in late trading. The stock is down 22% from its first-day close of $70.82.
ON24 offers a variety of packages for live or on-demand webinars, as well as interactive tools to engage with the audience, and data packages that allow sales and marketing teams to reflect upon how audiences engage with the webinar.
CEO and founder Sharat Sharan remarked that 2020 had been “a transformative year for ON24’s customers as we helped them accelerate their digital engagement initiatives.”
“I’m proud of the ON24 team for their tremendous focus and execution,” said Sharan.
“Our holistic approach to B2B engagement brings together the digital experiences, data, and seamless integrations companies need to convert prospects into customers.
“Looking ahead, we’re uniquely positioned to help companies across ever industry shift the way they do business in a digital-first hybrid world.”
Revenue in the three months ended in December rose 123%, year over year, to $53.3 million, yielding a net profit of 57 cents a share.
Analysts had been modeling $52 million and 53 cents per share.
The company said its annualized recurring revenue, or ARR, doubled, year-over-year, to $153.4 million.
The company said its cash from operations rose to $10.7 million from $4.3 million in the year-earlier period.
For the current quarter, the company sees revenue of $48.5 million to $49 million, and EPS in a range of breakeven to 1 cent per share. That compares to consensus for $47 million and a 2-cent loss per share.
For the full year, the company sees revenue in a range of $205.5 million to $208.5 million, and a net loss of 7 cents to 14 cents. That compares to consensus of $205 million and a 15-cent loss per share.
