ON24(US:ONTF)2025-05-07 20:17Financial Performance - Total revenue for Q1 2025 was $34.7 million, with Core Platform revenue of $34.2 million[5] - Annual Recurring Revenue (ARR) reached $128.2 million as of March 31, 2025, with Core Platform ARR at $125.9 million[6] - GAAP net loss was $8.7 million, or $(0.21) per diluted share, an improvement from a net loss of $10.7 million, or $(0.26) per diluted share in Q1 2024[6] - Non-GAAP operating loss was $2.1 million, compared to a loss of $0.8 million in Q1 2024[6] - Total revenue for Q1 2025 was $34,733 million, a decrease of 7% from $37,727 million in Q1 2024[29] - Gross profit for Q1 2025 was $25,630 million, down from $27,945 million in Q1 2024, resulting in a gross margin of 74%[35] - Net loss for Q1 2025 was $8,703 million, an improvement from a net loss of $10,703 million in Q1 2024, with net loss per share decreasing from $(0.26) to $(0.21)[29] - Non-GAAP net loss income for the same period was $(0.358) million, a significant improvement from a non-GAAP net income of $0.953 million in 2024, with a non-GAAP basic and diluted net loss per share of $(0.01) compared to $0.02 in 2024[42] - Total revenue for the three months ended March 31, 2025, was $34.733 million, down from $37.727 million in 2024, with core platform revenue at $34.152 million compared to $36.815 million in the prior year[46] Cash Flow and Expenses - Free cash flow for the quarter was $1.9 million, up from $1.1 million in Q1 2024[6] - Cash provided by operating activities increased to $3,412 million in Q1 2025 from $2,138 million in Q1 2024[33] - Total operating expenses decreased to $36,096 million in Q1 2025 from $40,419 million in Q1 2024[29] - Total stock-based compensation expense for Q1 2025 was $7,130 million, down from $10,337 million in Q1 2024[34] - Stock-based compensation expenses were $7.130 million in Q1 2025, down from $10.337 million in the same period of 2024[42] - The company incurred restructuring costs of $0.782 million in Q1 2025, compared to $1.181 million in Q1 2024[42] - Restructuring costs for Q1 2025 were $782 million, down from $1,181 million in Q1 2024[30] Future Projections - ON24 expects total revenue for Q2 2025 to be in the range of $34.5 million to $35.1 million[13] - For the full year 2025, total revenue is projected to be between $136.0 million and $139.0 million[13] Product and Market Position - The company introduced ON24 IQ intelligent agents to enhance its AI-powered Analytics and Content Engine, aiming to improve customer engagement[13] - ON24 ranked 1 in Enterprise Webinar Platforms in the G2 Spring 2025 Report, reflecting strong market presence and customer satisfaction[13] Revenue Breakdown - Subscription and other platform revenue decreased to $32.301 million in Q1 2025 from $34.829 million in Q1 2024, while professional services revenue also declined to $2.432 million from $2.898 million[46] - The company reported a decrease in total virtual conference revenue to $0.581 million in Q1 2025 from $0.912 million in Q1 2024[46] Shareholder Actions - The company announced a new $50 million share repurchase program, indicating belief in the undervaluation of the business[3]