ON24(US:ONTF)2025-02-25 21:17Financial Performance - Total revenue for Q4 2024 was $36.7 million, with Core Platform revenue of $36.0 million[5] - Annual Recurring Revenue (ARR) reached $129.7 million as of December 31, 2024, with Core Platform ARR at $127.3 million[6] - For the full year 2024, total revenue was $148.1 million, with Core Platform revenue of $144.9 million[10] - Total revenue for the three months ended December 31, 2024, was $36,680 thousand, a decrease of 6.7% from $39,337 thousand in the same period of 2023[31] - Subscription and other platform revenue for the twelve months ended December 31, 2024, was $136,412 thousand, down 9.0% from $149,882 thousand in 2023[31] - Total core platform revenue for the twelve months ended December 31, 2024, was $144.945 million, down from $158.099 million in 2023, a decrease of 8.3%[49] Net Income and Loss - GAAP net loss for Q4 2024 was $8.9 million, or $(0.21) per diluted share, an improvement from a net loss of $9.9 million, or $(0.24) per diluted share in Q4 2023[6] - Non-GAAP net income for Q4 2024 was $2.5 million, or $0.06 per diluted share, compared to $2.6 million, or $0.06 per diluted share in Q4 2023[6] - GAAP net loss for the full year 2024 was $42.2 million, or $(1.01) per diluted share, down from a net loss of $51.8 million, or $(1.16) per diluted share in 2023[10] - Net loss for the three months ended December 31, 2024, was $8,872 thousand, compared to a net loss of $9,875 thousand in the same period of 2023, indicating an improvement of 10.1%[31] - Non-GAAP net income for the three months ended December 31, 2024, was $2.549 million, slightly down from $2.563 million in 2023[45] Cash Flow and Expenses - Free cash flow for Q4 2024 was $0.4 million, compared to $(2.0) million in Q4 2023[6] - Cash provided by operating activities for Q4 2024 was $0.985 million, a significant recovery from cash used of $0.859 million in Q4 2023[35] - Total cash, cash equivalents, and restricted cash at the end of Q4 2024 was $15.013 million, down from $53.298 million at the end of Q4 2023[35] - The net cash used in financing activities for Q4 2024 was $6.523 million, a decrease from $15.457 million in Q4 2023[35] - The net cash provided by operating activities for the twelve months ended December 31, 2024, was $4.806 million, an improvement from a cash used of $12.202 million in 2023[47] Operating Expenses - Total operating expenses for the twelve months ended December 31, 2024, were $160,726 thousand, a reduction of 10.4% from $179,446 thousand in 2023[31] - Total sales and marketing expenses for Q4 2024 were $19.048 million, down from $20.645 million in Q4 2023, reflecting a 7.7% decrease[39] - Research and development expenses for the twelve months ended December 31, 2024, were $36,250 thousand, down 12.0% from $41,122 thousand in 2023[31] - Research and development expenses for Q4 2024 were $8.880 million, a slight decrease from $9.363 million in Q4 2023[39] - The company reported restructuring costs of $388 thousand for the three months ended December 31, 2024, compared to $573 thousand in the same period of 2023, a reduction of 32.3%[43] Assets and Liabilities - Cash and cash equivalents decreased significantly to $14,933 thousand as of December 31, 2024, from $53,209 thousand a year earlier[29] - Total assets decreased to $250,953 thousand as of December 31, 2024, down from $280,302 thousand in 2023, representing a decline of 10.4%[29] - Total liabilities decreased to $91,541 thousand as of December 31, 2024, from $100,085 thousand in 2023, a reduction of 8.5%[29] Future Outlook - The company expects total revenue for Q1 2025 to be in the range of $34.0 million to $34.5 million[17] - AI-powered ACE accounted for over 20% of growth ARR bookings in Q4 2024, marking an all-time high[5] - Multi-year contracts represented 51% of total ARR as of December 31, 2024[11]