SAN FRANCISCO – ON24 Inc. (NYSE:ONTF) Chief Revenue Officer Blackie James recently completed a series of stock transactions, according to a recent SEC filing. According to InvestingPro data, ON24 stock is currently trading at $6.51, with analysis suggesting the stock is undervalued. On 12/16/2023, James sold 8,000 shares of ON24 stock, generating total proceeds of approximately $55,689. The shares were sold at a weighted average price of $6.9612, with individual transactions ranging from $6.89 to $7.00. The company has a strong financial position, with more cash than debt on the balance sheet and a healthy liquidity ratio of 2.75.
In addition to the sale, James exercised an option to purchase 8,000 shares at an exercise price of $0.99 per share. This transaction was part of a previously established Rule 10B5-1 trading plan adopted earlier this year. Following these transactions, James holds 405,352 shares of ON24. Get deeper insights into ON24's insider trading activity and comprehensive financial analysis with an InvestingPro subscription, which also provides access to detailed Pro Research Reports.
In other recent news, ON24 Inc. is in the spotlight with a mix of promising developments and cautious forecasts. The company's third-quarter 2024 financial results showed revenue of $36.3 million, exceeding forecast, and core platform revenue of $35.6 million. ON24 achieved positive adjusted EBITDA for the sixth consecutive year and free cash flow was $2.1 million, representing a significant year-over-year improvement.
The company also reported a slight quarter-over-quarter decline in core platform annual recurring revenue (ARR) of approximately 1% to $129.7 million. However, ON24's AI-driven ACE solution is gaining traction and contributing to acquisition and new retention. The company is targeting full-year 2025 profitability and expects a return to ARR growth, driven by AI innovations and a stable customer base.
In other developments, ON24 announced the impending departure of a long-standing member of its board of directors, Irwin Federman, who will not seek re-election at the 2025 annual general meeting. The company continues to have a strong balance sheet with more cash than debt, supporting its focus on growth and profitability for 2025. These are the latest developments that are shaping ON24's course.
This translation was created using artificial intelligence. For further information, please see our Terms of Use.
