ON24, Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a decline in revenue and an ongoing net loss. For the three months ended September 30, 2025, the company generated total revenue of $34.6 million, a decrease of 5% from $36.3 million in the same period of 2024. For the nine months ending September 30, 2025, revenue was $104.7 million, down 6% from $111.4 million year-over-year. The company's net loss for the third quarter was $6.4 million, compared to a loss of $11.4 million in the prior year, while the nine-month net loss was $22.4 million, down from $33.3 million.
The decline in revenue was attributed to a decrease in customer count and annual recurring revenue (ARR), which fell to $124.5 million as of September 30, 2025, from $132.2 million a year earlier. The number of customers also decreased to 1,521 from 1,666 in the same period last year. The company noted that the reduction in customer acquisitions was influenced by budget constraints in marketing departments across various organizations. Despite these challenges, ON24 has continued to focus on cost management, resulting in a reduction of operating expenses, which totaled $33.9 million for the third quarter, down from $40.3 million in the previous year.
Strategically, ON24 has been active in enhancing its product offerings and expanding its market presence. The company launched several new products in 2025, including ON24 AI Propel+, which leverages artificial intelligence to enhance marketing efficiency. Additionally, ON24 has been pursuing workforce reductions to streamline operations, incurring restructuring costs of $1.6 million in the first nine months of 2025. The company also initiated a $50 million share repurchase program in May 2025, reflecting its commitment to returning value to shareholders.
Operationally, ON24's gross margin improved to 75% for both the third quarter and the first nine months of 2025, compared to 74% in the same periods of 2024. The company reported cash, cash equivalents, and marketable securities totaling $175.2 million as of September 30, 2025, providing a solid liquidity position to support ongoing operations and strategic initiatives. The company has indicated that it expects to continue investing in its platform and infrastructure while managing costs effectively in the current economic environment.
Looking ahead, ON24 remains focused on customer acquisition and retention, with plans to enhance its sales and marketing efforts. The company acknowledges the challenges posed by the current macroeconomic conditions but believes there is significant opportunity for growth in both domestic and international markets. As ON24 continues to innovate and expand its product offerings, it aims to improve customer engagement and drive revenue growth in the coming quarters.
About ON24 INC.
ON24, Inc. provides a cloud-based platform for interactive digital engagement, enabling sales and marketing teams to deliver personalized, content-rich experiences like webinars, virtual events, and multimedia content. Its solutions gather real-time behavioral insights, leveraging AI and integrations with CRM and marketing automation systems to drive customer engagement, lead conversion, and revenue growth across diverse industries worldwide.
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