ON24, Inc. (ONTF) Tops Q3 EPS by 3c, provides outlook

ON24, Inc. (NYSE: ONTF) reported Q3 EPS of $0.03, $0.03 better than the analyst estimate of $0.00. Revenue for the quarter came in at $39.2 million versus the consensus estimate of $38.01 million.

Financial Outlook

For the fourth quarter of 2023, ON24 expects:

Core Platform Revenue, including services, to be in the range of $35.8 million to $36.8 million.
Total revenue of $36.8 million to $37.8 million, versus the consensus of $37.97 million
Non-GAAP operating loss of $1.4 million to $0.8 million.
Non-GAAP net income per share of $0.01 to $0.02 using approximately 45.8 million diluted shares outstanding.

Restructuring charge of $0.4 million to $0.8 million, excluded from the Non-GAAP amounts above.

For the full year 2023, ON24 now expects:

Core Platform Revenue, including services, to be in the range of $155.6 million to $156.6 million.
Total revenue of $161.2 million to $162.2 million, versus the consensus of $158.5 million.
Non-GAAP operating loss of $7.5 million to $6.9 million.
Non-GAAP net income per share of $0.04 to $0.06 per share using approximately 49.2 million diluted shares outstanding.

For earnings history and earnings-related data on ON24, Inc. (ONTF) click here.

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