SAN FRANCISCO, May 12, 2025--(BUSINESS WIRE)--ON24 (NYSE: ONTF), a leading intelligent engagement platform for B2B marketing, today announced that its Board of Directors has authorized a share repurchase where ON24 may purchase up to $50 million of its common stock.
"Our recent announcement of a $50 million share repurchase program reflects the Board's confidence in the strength of ON24's business, platform capabilities and market presence. This announcement reflects our confidence in the company’s strategy and is enabled by our strong balance sheet. It provides another avenue for us to create long-term value for shareholders, while delivering on our mission," said Sharat Sharan, CEO of ON24 Inc.
Under the repurchase program, ON24 may purchase shares of common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions, or other means, including through Rule 10b5-1 trading plans, and ON24 expects repurchases under the program to extend over multiple quarters.
The timing and number of shares repurchased under the program will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. The repurchase program does not obligate ON24 to acquire any particular amount of common stock and may be modified, suspended, or discontinued at any time at the company’s discretion.
Repurchases under this program will be funded from the company’s existing cash and cash equivalents or future cash flow. As of March 31, 2025, ON24 had $181 million in cash, cash equivalents, and marketable securities.
About ON24
ON24 is on a mission to help businesses bring their go-to-market strategy into the AI era and drive cost-effective revenue growth. Through its leading intelligent engagement platform, ON24 enables customers to combine our leading first-party experiences with personalization and content as well as capture and act on engagement insights, accelerating the buyer journey and propelling pipeline forward.
ON24 provides industry-leading companies, including 4 of the 5 largest global software companies, 3 of the 5 top global asset management firms, 3 of the 5 largest global pharmaceutical companies and 3 of the 5 largest global industrial companies, with a valuable source of first-party data to drive sales and marketing innovation, improve efficiency and increase business results. Headquartered in San Francisco, ON24 has offices globally in North America, EMEA and APAC. For more information, visit www.ON24.com.
Forward-Looking Statements
This document contains "forward-looking statements" under applicable securities laws. Such statements can be identified by words such as: "outlook," "expect," "target," "believe," "plan," "future," "may," "should," "will," "position," and similar references to future periods. Forward-looking statements include express or implied statements regarding the timing, price and amount of potential repurchases of common stock, our expected financial and operating results, the execution of our repurchase program, the size of our market opportunity, the success of our new products and capabilities, including our new AI-powered Analytics and Content Engine, and other statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including our ability to attract new customers and expand sales to existing customers; declines in our growth rate; fluctuation in our performance; our history of net losses; competition; technological development in our markets; decline in demand for our solutions; our ability to expand our sales and marketing capabilities and otherwise achieve our growth; the impact of the resumption of in-person marketing activities on our customer growth rate; disruptions or other issues with our technology or third-party services; compliance with data privacy, import and export controls, customs, sanctions and other laws and regulations; intellectual property matters; and matters relating to our common stock, along with the other risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.
