ON24, Inc. reported its financial results for the second quarter and first half of 2025, revealing a decline in revenue and an ongoing net loss. The company generated total revenue of $35.3 million for the second quarter, down 5% from $37.3 million in the same period last year. For the first half of 2025, revenue was $70.1 million, a decrease of 7% compared to $75.1 million in the first half of 2024. The decline in revenue was attributed to lower customer counts and reduced annual recurring revenue (ARR), which fell to $127.1 million as of June 30, 2025, from $133.7 million a year earlier.
The company's net loss for the second quarter was $7.3 million, an improvement from the $11.2 million loss reported in the same quarter of 2024. For the first half of 2025, the net loss was $16.0 million, compared to $21.9 million in the prior year. ON24's operating expenses decreased to $35.7 million in the second quarter, down from $40.9 million in the same period last year, primarily due to cost management initiatives, including workforce reductions. The gross margin improved slightly to 75% from 74% year-over-year.
Operationally, ON24 reported a customer base of 1,566 as of June 30, 2025, a decrease from 1,682 a year prior. The company has focused on expanding its product offerings, including the recent launch of ON24 IQ, an intelligent agent designed to streamline event management tasks. The company also emphasized its commitment to innovation, with plans to continue developing AI-powered capabilities and enhancing its platform's functionality.
In terms of liquidity, ON24 had cash, cash equivalents, and marketable securities totaling $179.6 million as of June 30, 2025. The company has also initiated a $50 million share repurchase program, reflecting its strategy to return value to shareholders while managing costs. Looking ahead, ON24 aims to attract new customers and expand its international presence, despite the challenges posed by current macroeconomic conditions. The company anticipates incurring additional restructuring costs in the upcoming quarters as it continues to optimize its operations.
About ON24 INC.
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