ON24, Inc. reported a revenue of $139.3 million for the fiscal year ending December 31, 2025, marking a 6% decrease from $148.1 million in 2024. The company also recorded a net loss of $28.9 million, an improvement from the $42.2 million loss reported in the previous year. This decline in revenue is attributed to a reduction in customer count and annual recurring revenue (ARR), which fell to $124.0 million from $129.7 million in 2024. The company had 1,539 customers as of December 31, 2025, down from 1,645 in 2024, with 292 customers contributing at least $100,000 in ARR, a decrease from 305 the previous year.
Strategically, ON24 has been focusing on enhancing its product offerings and expanding its market presence. In 2025, the company launched several new products, including ON24 AI-powered Analytics and Content Engine (ACE), ON24 IQ Intelligent agents, and ON24 Translate, aimed at improving customer engagement and operational efficiency. Additionally, ON24 acquired Vibbio AS, a video software company, to bolster its video capabilities. The company is also in the process of merging with Cvent Atlanta, LLC, with shareholders set to receive $8.10 per share in cash, pending regulatory approvals and shareholder consent.
Operationally, ON24 has been managing costs through workforce reductions and restructuring efforts, which resulted in $2.1 million in restructuring costs in 2025. The company has emphasized a "land and expand" strategy to deepen its relationships with existing customers while also targeting new customer acquisitions, particularly in the Enterprise and Commercial markets. Despite the challenges, ON24's dollar-based net retention rate improved to 90% in 2025, up from 89% in 2024, indicating better customer retention and expansion within its existing customer base.
Looking ahead, ON24 anticipates that the completion of the merger with Cvent will provide additional resources and capabilities to enhance its platform and drive growth. The company plans to continue investing in its sales and marketing efforts to attract new customers and expand its existing customer relationships. However, it acknowledges the ongoing challenges posed by macroeconomic conditions and competitive pressures in the digital engagement market. The company expects to maintain its gross margin around 75% in 2026 while actively managing costs to support its growth initiatives.
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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