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ON24 (ONTF) Reports Q1 Earnings: What Key Metrics Have to Say
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ON24 (ONTF - Free Report) reported $37.73 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 12.4%. EPS of $0.02 for the same period compares to -$0.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $37 million, representing a surprise of +1.97%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being -$0.02.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ON24 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annualized Recurring Revenue (ARR): $136.50 million versus the two-analyst average estimate of $134.87 million.
Revenue- Professional services: $2.90 million compared to the $2.82 million average estimate based on three analysts. The reported number represents a change of -21.7% year over year.
Revenue- Subscription and other platform: $34.83 million versus the three-analyst average estimate of $33.65 million. The reported number represents a year-over-year change of -11.5%.
Shares of ON24 have returned -3.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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ON24 (ONTF) Reports Q1 Earnings: What Key Metrics Have to Say
ON24 (ONTF - Free Report) reported $37.73 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 12.4%. EPS of $0.02 for the same period compares to -$0.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $37 million, representing a surprise of +1.97%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being -$0.02.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ON24 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annualized Recurring Revenue (ARR): $136.50 million versus the two-analyst average estimate of $134.87 million.
- Revenue- Professional services: $2.90 million compared to the $2.82 million average estimate based on three analysts. The reported number represents a change of -21.7% year over year.
- Revenue- Subscription and other platform: $34.83 million versus the three-analyst average estimate of $33.65 million. The reported number represents a year-over-year change of -11.5%.
View all Key Company Metrics for ON24 here>>>Shares of ON24 have returned -3.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.