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.
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