ON24 (ONTF) Stock Drops 23% In Pre-Market Amid Reporting Q2 Earnings: Catch The Train To Sell.

Just yesterday, ON24’s stock closed at $32.31. Nevertheless, today it is declining drastically: it is currently at $24.83, resulting in a 23% loss. The company yesterday reported its second-quarter earnings results. Total revenue was $52.1 million, an increase of 43% year-over-year, or 47% year-over-year, excluding legacy. Subscription and Other Platform Revenue, excluding legacy, was $44.4 million, an increase of 68% year-over-year.
ARR increased 44% year-over-year to $164.1 million as of June 30, 2021. Net loss attributable to common stockholders was $2.5 million, or $(0.05) per diluted share, compared to net income attributable to common stockholders of $5.3 million, or $0.14 per diluted share in the second quarter of 2020. Non-GAAP operating income was $2.5 million, compared to non-GAAP operating income of $7.3 million in the second quarter of 2020.

Non-GAAP net income was $2.5 million, or $0.04 per diluted share, compared to a non-GAAP net income of $7.1 million, or $0.69 per diluted share in the second quarter of 2020. Net cash provided by operating activities was $6.9 million, compared to $14.0 million provided in operating activities in the second quarter of 2020. Free cash flow was $5.7 million for the quarter, compared to $13.8 million in the second quarter of 2020.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.