Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

ON24 Announces Second Quarter 2022 Financial Results

  • Total Revenue of $48.2 million
  • ARR of $167.8 million
  • Closed largest deal in company history with existing customer

ON24 (NYSE: ONTF), a leading sales and marketing platform for digital engagement, today announced financial results for the second quarter ended June 30, 2022.

“In the second quarter, thanks to the hard work of our team, we exceeded our guidance and saw strong expansion activity with a number of our top customers increasing their investments with us,” said Sharat Sharan, co-founder and CEO of ON24. “The breadth of our platform along with its ability to capture first-party engagement data and insights helps our customers grow revenue more efficiently and effectively, which is even more important in today’s economic environment. Looking ahead, with the strong support of our customers and the actions we are taking to reduce our cost structure we are well-positioned to return to growth in 2023 with an improved business model.”

Second Quarter 2022 Financial Highlights

  • ARR of $167.8 million as of June 30, 2022, an increase of 2% year-over-year.
  • Revenue:
    • Total revenue was $48.2 million, a decrease of 7% year-over-year.
    • Subscription and Other Platform Revenue was $43.1 million, a decrease of 3% year-over-year.
    • Professional Services Revenue was $5.2 million, a decrease of 33% year-over-year.
  • GAAP Operating Loss was $16.0 million, compared to GAAP operating loss of $2.5 million in the second quarter of 2021.
  • Non-GAAP Operating Loss was $6.2 million, compared to non-GAAP operating income of $2.5 million in the second quarter of 2021.
  • GAAP Net Loss attributable to common stockholders was $16.2 million, or $(0.34) per diluted share, compared to GAAP net loss attributable to common stockholders of $2.5 million, or $(0.05) per diluted share in the second quarter of 2021.
  • Non-GAAP Net Loss was $6.4 million, or $(0.14) per diluted share, compared to a non-GAAP net income of $2.5 million, or $0.04 per diluted share in the second quarter of 2021.
  • Cash Flow: Net cash used in operating activities was $2.7 million, compared to $6.9 million provided by operating activities in the second quarter of 2021. Free cash flow was negative $3.4 million for the quarter, compared to $5.7 million provided in the second quarter of 2021.
  • Cash, Cash Equivalents and Marketable Securities totaled $344.9 million as of June 30, 2022.

For more information regarding non-GAAP operating income (loss), non-GAAP net income (loss) and free cash flows, see the section titled “Non-GAAP Financial Measures” below. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure, see the tables at the end of this press release.

Recent Business Highlights / Industry Recognition

  • Strong expansion with a number of our top customers with the highest level of ARR coming from multiyear commitments, including the largest multi-year contract in our history with a leading learning platform company.
  • Highest percentage of customers adopting multiple products, including a multimillion-dollar deal with one of the world’s biggest tech companies.
  • Significant traction with new products like ON24 Forums, including wins with a leading American auto-parts distributor and a top medical association.
  • Received strong acknowledgements from peer-review sites and two leading independent research firms for the Company’s innovation in a number of sales and marketing categories, including webinar software, account-based marketing (ABM), conversation automation technology, and event technology platforms.

Financial Outlook

ON24 is implementing a cost reduction plan, which will include a restructuring charge in the third quarter of $1.0 to $1.3 million. ON24 is raising full year 2022 Non-GAAP operating profit (loss) and earnings (net loss) per share guidance.

For the full year 2022, ON24 expects:

  • ON24 is reaffirming our previous 2022 revenue guidance of $191 to $195 million.
  • Non-GAAP operating loss of $27.5 to $24.5 million.
  • Non-GAAP net loss per share of $(0.57) to $(0.51) using approximately 48.1 million basic and diluted shares outstanding.

For the third quarter of 2022, ON24 expects:

  • Total revenue of $47 to $48 million.
  • Non-GAAP operating loss of $8 to $7 million.
  • Non-GAAP net loss per share of $(0.17) to $(0.15) using approximately 47.4 million basic and diluted shares outstanding.
  • Restructuring charge of $1.0 to $1.3 million, excluded from Non-GAAP amounts above.

Conference Call Information

ON24 will host a conference call and live webcast for analysts and investors today at 2:00 p.m. Pacific Time. Parties in the United States can access the call by dialing (888) 220-8474, and international parties can access the call by dialing (323) 794-2590, using the conference ID 5586465.

A webcast will be accessible on ON24’s investor relations website at investors.on24.com. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website.

Definitions of Certain Key Business Metrics

Annual Recurring Revenue (“ARR”): ARR is calculated as the sum of the annualized value of our subscription contracts as of the measurement date, including existing customers with expired contracts that we expect to be renewed. Our ARR amounts exclude professional services, overages from subscription customers and Legacy revenue.

Non-GAAP Financial Measures

In addition to our results determined in accordance with generally accepted accounting principles in the United States, or “GAAP”, we consider our non-GAAP operating income (loss), non-GAAP net income (loss) and free cash flow in evaluating our operating performance. We define non-GAAP operating income (loss) as net income (loss) excluding, interest expense, other (income) expense, net, income tax, stock-based compensation and amortization of acquired intangible assets. We define non-GAAP net income (loss) as net income (loss) excluding cumulative preferred dividends allocated to preferred shareholders, stock-based compensation and amortization of acquired intangible assets. We define free cash flow as net cash provided by (used in) operating activities, less purchases of property and equipment.

We use non-GAAP operating income (loss) and non-GAAP net income (loss) to evaluate our ongoing operations and for internal planning and forecasting purposes, and we use free cash flow to measure and evaluate cash generated through normal business operations. We believe non-GAAP operating income (loss) and non-GAAP net income (loss) may be helpful to investors because they provide consistency and comparability with past financial performance. We believe free cash flow may be helpful to investors because it reflects that some purchases of property and equipment are necessary to support ongoing operations, while providing a measure of cash available to acquire customers, expand within existing customers and otherwise pursue our business strategies.

However, these non-GAAP financial measures are each presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Non-GAAP financial measures have no standardized meanings prescribed by GAAP and are not prepared under a comprehensive set of accounting rules or principles. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measure as a tool for comparison.

Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measure are included in the tables at the end of this press release.

Forward-Looking Statements

This document contains “forward-looking statements” under applicable securities laws. Such statements can be identified by words such as: “outlook,” “expect,” “convert,” “believe,” “plan,” “future,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements include express or implied statements regarding our expected financial and operating results, the size of our market opportunity, the success of our new products and capabilities, the impact of the COVID-19 pandemic and vaccines on the way people do business, and other statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including our ability to attract new customers and expand sales to existing customers, decline in our growth rate; fluctuation in our performance, our history of net losses and expected increases in our expenses; competition and technological development in our markets and any decline in demand for our solutions; our ability to expand our sales and marketing capabilities and otherwise manage our growth; the impact of the COVID-19 pandemic; disruptions or other issues with our technology or third-party services; compliance with data privacy, import and export controls, customs, sanctions and other laws and regulations; intellectual property matters; and matters relating to our common stock, along with the other risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.

About ON24

ON24 is a leading sales and marketing platform for digital engagement, delivering insights to drive revenue growth. ON24 serves more than 2,100 customers worldwide, including 3 of the 5 largest global technology companies, 3 of the 6 largest US banks, 3 of the 5 largest global healthcare companies, and 3 of the 5 largest global industrial manufacturers. Through interactive webinars, virtual events, and personalized content experiences, ON24 provides a system of engagement powered by AI for businesses to scale engagement, conversions, and pipeline to drive revenue growth. The ON24 Platform supports millions of professionals a month who are totaling billions of engagement minutes per year. ON24 is headquartered in San Francisco with global offices in North America, EMEA, and APAC. For more information, visit www.ON24.com.

© 2022 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered in the United States Patent and Trademark Office and in other countries.

ON24, INC.

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)

June 30, 2022

 December 31, 2021

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

79,914

 

 

$

164,948

 

Marketable securities

 

264,955

 

 

 

217,609

 

Accounts receivable, net

 

39,765

 

 

 

46,117

 

Deferred contract acquisition costs, current

 

12,212

 

 

 

11,921

 

Prepaid expenses and other current assets

 

9,945

 

 

 

8,467

 

Total current assets

 

406,791

 

 

 

449,062

 

Property and equipment, net

 

8,076

 

 

 

8,780

 

Operating right-of-use assets

 

6,199

 

 

 

 

Intangible asset, net

 

2,250

 

 

 

 

Deferred contract acquisition costs, non-current

 

19,947

 

 

 

20,887

 

Other long-term assets

 

1,928

 

 

 

1,760

 

Total assets

$

445,191

 

 

$

480,489

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

3,626

 

 

$

3,123

 

Accrued and other current liabilities

 

18,798

 

 

 

19,011

 

Deferred revenue

 

90,774

 

 

 

96,225

 

Finance lease liabilities, current

 

1,755

 

 

 

1,768

 

Operating lease liabilities, current

 

2,563

 

 

 

 

Total current liabilities

 

117,516

 

 

 

120,127

 

Finance lease liabilities, non-current

 

719

 

 

 

1,648

 

Operating lease liabilities, non-current

 

6,024

 

 

 

 

Other long-term liabilities

 

1,555

 

 

 

3,624

 

Total liabilities

 

125,814

 

 

 

125,399

 

Stockholders’ equity

 

 

 

Common stock

 

5

 

 

 

5

 

Additional paid-in capital

 

548,740

 

 

 

550,839

 

Accumulated deficit

 

(227,210

)

 

 

(195,519

)

Accumulated other comprehensive loss

 

(2,158

)

 

 

(235

)

Total Stockholders’ equity

 

319,377

 

 

 

355,090

 

Total liabilities and stockholders’ equity

$

445,191

 

 

$

480,489

 

ON24, INC.

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

(Unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Revenue:

 

 

 

 

 

 

 

Subscription and other platform

$

43,064

 

 

$

44,377

 

 

$

86,541

 

 

$

87,287

 

Professional services

 

5,174

 

 

 

7,741

 

 

 

10,189

 

 

 

14,930

 

Total revenue

 

48,238

 

 

 

52,118

 

 

 

96,730

 

 

 

102,217

 

Cost of revenue:

 

 

 

 

 

 

 

Subscription and other platform(1)

 

9,958

 

 

 

8,179

 

 

 

19,560

 

 

 

15,664

 

Professional services(1)

 

3,343

 

 

 

3,694

 

 

 

6,685

 

 

 

6,903

 

Total cost of revenue

 

13,301

 

 

 

11,873

 

 

 

26,245

 

 

 

22,567

 

Gross profit

 

34,937

 

 

 

40,245

 

 

 

70,485

 

 

 

79,650

 

Operating expenses:

 

 

 

 

 

 

 

Sales and marketing(1)

 

28,850

 

 

 

25,465

 

 

 

58,043

 

 

 

49,390

 

Research and development(1)(2)

 

10,948

 

 

 

8,162

 

 

 

21,592

 

 

 

16,108

 

General and administrative(1)

 

11,158

 

 

 

9,100

 

 

 

22,035

 

 

 

18,868

 

Total operating expenses

 

50,956

 

 

 

42,727

 

 

 

101,670

 

 

 

84,366

 

Loss from operations

 

(16,019

)

 

 

(2,482

)

 

 

(31,185

)

 

 

(4,716

)

Interest expense

 

49

 

 

 

106

 

 

 

103

 

 

 

337

 

Other (income) expense, net

 

103

 

 

 

211

 

 

 

280

 

 

 

327

 

Loss before provision for (benefit from) income taxes

 

(16,171

)

 

 

(2,799

)

 

 

(31,568

)

 

 

(5,380

)

Provision for (benefit from) income taxes

 

41

 

 

 

(282

)

 

 

123

 

 

 

(33

)

Net loss

 

(16,212

)

 

 

(2,517

)

 

 

(31,691

)

 

 

(5,347

)

Cumulative preferred dividends allocated to preferred stockholders

 

 

 

 

 

 

 

 

 

 

(558

)

Net loss attributable to common stockholders

$

(16,212

)

 

$

(2,517

)

 

$

(31,691

)

 

$

(5,905

)

Net loss per share attributable to common stockholders:

 

 

 

 

 

 

 

Basic and diluted

$

(0.34

)

 

$

(0.05

)

 

$

(0.67

)

 

$

(0.15

)

Weighted-average shares used in computing net loss per share attributable to common stockholders:

 

 

 

 

 

 

 

Basic and diluted

 

47,187,586

 

 

 

46,570,195

 

 

 

47,408,479

 

 

 

39,664,436

 

(1) Includes stock-based compensation as follows:

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2022

 

2021

 

2022

 

2021

Cost of revenue

 

 

 

 

 

 

 

Subscription and other platform

$

823

 

$

346

 

$

1,691

 

$

583

Professional services

 

166

 

 

77

 

 

340

 

 

139

Total cost of revenue

 

989

 

 

423

 

 

2,031

 

 

722

Sales and marketing

 

3,697

 

 

1,571

 

 

7,389

 

 

3,263

Research and development

 

1,925

 

 

862

 

 

3,906

 

 

1,644

General and administrative

 

3,087

 

 

2,114

 

 

5,879

 

 

4,335

Total stock-based compensation expense

$

9,698

 

$

4,970

 

$

19,205

 

$

9,964

(2) Research and development expense for the three and six months ended June 30, 2022 Includes amortization of acquired intangible asset of $137 in connection with the Vibbio acquisition in April 2022.

ON24, INC.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Cash flows from operating activities:

 

 

 

 

 

 

 

Net loss

$

(16,212

)

 

$

(2,517

)

 

$

(31,691

)

 

$

(5,347

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

1,339

 

 

 

1,134

 

 

 

2,546

 

 

 

2,294

 

Stock-based compensation expense

 

9,698

 

 

 

4,970

 

 

 

19,205

 

 

 

9,964

 

Amortization of deferred contract acquisition cost

 

3,950

 

 

 

3,828

 

 

 

8,017

 

 

 

7,502

 

Provision for allowance for doubtful accounts and billing reserve

 

487

 

 

 

692

 

 

 

747

 

 

 

1,209

 

Non-cash lease expense

 

482

 

 

 

 

 

 

1,001

 

 

 

 

Other

 

76

 

 

 

25

 

 

 

330

 

 

 

25

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable

 

1,866

 

 

 

5,995

 

 

 

5,645

 

 

 

8,517

 

Deferred contract acquisition cost

 

(3,741

)

 

 

(4,142

)

 

 

(7,368

)

 

 

(9,592

)

Prepaid expenses and other assets

 

1,978

 

 

 

(2,025

)

 

 

(1,577

)

 

 

(7,078

)

Accounts payable

 

(1,428

)

 

 

(2,042

)

 

 

314

 

 

 

(1,441

)

Accrued liabilities

 

1,007

 

 

 

2,653

 

 

 

255

 

 

 

3,026

 

Deferred revenue

 

(1,388

)

 

 

(1,663

)

 

 

(5,486

)

 

 

1,659

 

Other non-current liabilities

 

(782

)

 

 

(37

)

 

 

(1,376

)

 

 

(163

)

Net cash (used in) provided by operating activities

 

(2,668

)

 

 

6,871

 

 

 

(9,438

)

 

 

10,575

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchase of property and equipment

 

(690

)

 

 

(1,214

)

 

 

(1,674

)

 

 

(1,734

)

Acquisition, net of cash acquired

 

(2,495

)

 

 

 

 

 

(2,495

)

 

 

 

Purchase of marketable securities

 

(51,349

)

 

 

(44,481

)

 

 

(111,620

)

 

 

(44,481

)

Proceeds from maturities and paydowns of marketable securities

 

47,390

 

 

 

3,164

 

 

 

62,098

 

 

 

3,164

 

Net cash used in investing activities

 

(7,144

)

 

 

(42,531

)

 

 

(53,691

)

 

 

(43,051

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from initial public offering, net of underwriting discounts

 

 

 

 

 

 

 

 

 

 

353,397

 

Proceeds from exercise of options

 

581

 

 

 

384

 

 

 

1,738

 

 

 

1,795

 

Proceeds from issuance of common stock under ESPP

 

833

 

 

 

 

 

 

833

 

 

 

 

Payment of tax withholding obligations related to net share settlements on equity awards

 

 

 

 

 

 

 

(1,756

)

 

 

(2,001

)

Payment for repurchase of common stock

 

(8,734

)

 

 

 

 

 

(21,808

)

 

 

 

Repayment of equipment loans and borrowings

 

(67

)

 

 

(71

)

 

 

(133

)

 

 

(22,478

)

Repayment of capital lease obligations

 

(555

)

 

 

(807

)

 

 

(972

)

 

 

(1,384

)

Payment of offering costs

 

 

 

 

(1,176

)

 

 

 

 

 

(3,481

)

Net cash (used in) provided by financing activities

 

(7,942

)

 

 

(1,670

)

 

 

(22,098

)

 

 

325,848

 

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

249

 

 

 

114

 

 

 

276

 

 

 

108

 

Net (decrease) increase in cash, cash equivalents and restricted cash

 

(17,505

)

 

 

(37,216

)

 

 

(84,951

)

 

 

293,480

 

Cash, cash equivalents and restricted cash, beginning of period

 

97,597

 

 

 

389,041

 

 

 

165,043

 

 

 

58,345

 

Cash, cash equivalents and restricted cash, end of period

$

80,092

 

 

$

351,825

 

 

$

80,092

 

 

$

351,825

 

Supplemental disclosures of cash flow information:

 

 

 

 

 

 

 

Cash paid for taxes, net of refunds

$

247

 

 

$

131

 

 

$

278

 

 

$

142

 

Cash paid for interest

$

41

 

 

$

147

 

 

$

87

 

 

$

403

 

ON24, INC.

Reconciliation from GAAP to Non-GAAP Results

(in thousands, except share and per share data)

(Unaudited)

Reconciliation of net loss to non-GAAP operating income (loss)

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

 

2022

 

 

 

2021

 

Net loss

$

(16,212

)

 

$

(2,517

)

 

 

$

(31,691

)

 

$

(5,347

)

Add:

 

 

 

 

 

 

 

 

Interest expense

 

49

 

 

 

106

 

 

 

 

103

 

 

 

337

 

Other (income) expense, net

 

103

 

 

 

211

 

 

 

 

280

 

 

 

327

 

Provision for (benefit from) income taxes

 

41

 

 

 

(282

)

 

 

 

123

 

 

 

(33

)

Stock-based compensation

 

9,698

 

 

 

4,970

 

 

 

 

19,205

 

 

 

9,964

 

Amortization of acquired intangible asset

 

137

 

 

 

 

 

 

 

137

 

 

 

 

Non-GAAP operating income (loss)

$

(6,184

)

 

$

2,488

 

 

 

$

(11,843

)

 

$

5,248

 

 

 

 

 

 

 

 

 

 

Reconciliation of net loss to non-GAAP net income (loss)

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

 

2022

 

 

 

2021

 

Net loss

$

(16,212

)

 

$

(2,517

)

 

 

$

(31,691

)

 

$

(5,347

)

Add:

 

 

 

 

 

 

 

 

Stock-based compensation

 

9,698

 

 

 

4,970

 

 

 

 

19,205

 

 

 

9,964

 

Amortization of acquired intangible asset

 

137

 

 

 

 

 

 

 

137

 

 

 

 

Non-GAAP net income (loss)

$

(6,377

)

 

$

2,453

 

 

 

$

(12,349

)

 

$

4,617

 

 

 

 

 

 

 

 

 

 

Reconciliation of net loss available to common stockholders

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

 

2022

 

 

 

2021

 

Net loss attributable to common shareholders

$

(16,212

)

 

$

(2,517

)

 

 

$

(31,691

)

 

$

(5,905

)

Add:

 

 

 

 

 

 

 

 

Cumulative preferred dividends allocated to preferred shareholders

 

 

 

 

 

 

 

 

 

 

 

558

 

Stock-based compensation expense

 

9,698

 

 

 

4,970

 

 

 

 

19,205

 

 

 

9,964

 

Amortization of acquired intangible asset

 

137

 

 

 

 

 

 

 

137

 

 

 

 

Non-GAAP net income (loss) attributable to common stockholders

$

(6,377

)

 

$

2,453

 

 

 

$

(12,349

)

 

$

4,617

 

GAAP net loss per share, basic and diluted

$

(0.34

)

 

$

(0.05

)

 

 

$

(0.67

)

 

$

(0.15

)

Non-GAAP net income (loss) per share, basic

$

(0.14

)

 

$

0.05

 

 

 

$

(0.26

)

 

$

0.12

 

Non-GAAP net income (loss) per share, diluted

$

(0.14

)

 

$

0.04

 

 

 

$

(0.26

)

 

$

0.09

 

Shares Used in GAAP Per Share Calculations:

 

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute GAAP net loss per share, basic and diluted

 

47,187,586

 

 

 

46,570,195

 

 

 

 

47,408,479

 

 

 

39,664,436

 

Shares Used in Non-GAAP Per Share Calculations:

 

 

 

 

 

 

 

 

Non-GAAP weighted-average shares used to compute non-GAAP net income (loss) per share, basic

 

47,187,586

 

 

 

46,570,195

 

 

 

 

47,408,479

 

 

 

39,664,436

 

Non-GAAP weighted-average shares used to compute non-GAAP net income (loss) per share, diluted

 

47,187,586

 

 

 

54,993,297

 

 

 

 

47,408,479

 

 

 

48,646,614

 

ON24, INC.

Reconciliation of GAAP to Non-GAAP Net Income (Loss) Per Share

(in thousands, except share and per share data)

GAAP Basic and Diluted Net Loss Per Share

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

GAAP basic and diluted net loss per share:

 

 

 

 

 

 

 

Net loss

$

(16,212

)

 

$

(2,517

)

 

$

(31,691

)

 

$

(5,347

)

Less: Cumulative preferred dividends allocated to preferred stockholders

 

 

 

 

 

 

 

 

 

 

(558

)

Net loss attributable to common stockholders, basic and diluted

$

(16,212

)

 

$

(2,517

)

 

$

(31,691

)

 

$

(5,905

)

Weighted average common stock outstanding, basic and diluted

 

47,187,586

 

 

 

46,570,195

 

 

 

47,408,479

 

 

 

39,664,436

 

Basic and diluted net loss per share of common stock

$

(0.34

)

 

$

(0.05

)

 

$

(0.67

)

 

$

(0.15

)

 

 

 

 

 

 

 

 

Non-GAAP Net Income (Loss) Per Share

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Non-GAAP basic and diluted net income (loss) per share:

 

 

 

 

 

 

 

Net loss available to common stockholders

$

(16,212

)

 

$

(2,517

)

 

$

(31,691

)

 

$

(5,905

)

Add:

 

 

 

 

 

 

 

Cumulative preferred dividends allocated to preferred stockholders

 

 

 

 

 

 

 

 

 

 

558

 

Stock-based compensation

 

9,698

 

 

 

4,970

 

 

 

19,205

 

 

 

9,964

 

Amortization of acquired intangible asset

 

137

 

 

 

 

 

 

137

 

 

 

 

Non-GAAP net income (loss) attributable to common stockholders, basic and diluted

$

(6,377

)

 

$

2,453

 

 

$

(12,349

)

 

$

4,617

 

 

 

 

 

 

 

 

 

Non-GAAP weighted-average shares used to compute non-GAAP income (loss) per share, basic

 

47,187,586

 

 

 

46,570,195

 

 

 

47,408,479

 

 

 

39,664,436

 

Non-GAAP weighted-average shares used to compute non-GAAP income (loss) per share, diluted

 

47,187,586

 

 

 

54,993,297

 

 

 

47,408,479

 

 

 

48,646,614

 

Non-GAAP net income (loss) per share of common stock:

 

 

 

 

 

 

 

Non-GAAP net income (loss) per share, basic

$

(0.14

)

 

$

0.05

 

 

$

(0.26

)

 

$

0.12

 

Non-GAAP net income (loss) per share, diluted

$

(0.14

)

 

$

0.04

 

 

$

(0.26

)

 

$

0.09

 

ON24, INC.

Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow

(in thousands)

(Unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Net cash (used in) provided by operating activities:

$

(2,668

)

 

$

6,871

 

 

$

(9,438

)

 

$

10,575

 

Less: Purchases of property and equipment

 

(690

)

 

 

(1,214

)

 

 

(1,674

)

 

 

(1,734

)

Free cash flow

$

(3,358

)

 

$

5,657

 

 

$

(11,112

)

 

$

8,841

 

 

 

 

 

 

 

 

 

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.