Trempont Dominique, director at ON24 Inc. (NYSE:ONTF), sold 4,250 shares of the company’s stock. The stock traded at a weighted average price of $6.3972, trading in a price range of $6.34 to $6.45, near the midpoint of its 52-week trading range of $5.37 to $8.35. This sale, made on January 15, 2025, totaled $27,188. After this transaction, Dominique directly holds 258,850 shares. The company maintains a strong balance sheet with more cash than debt, and management is actively buying back shares. The sale was made pursuant to a Rule 10B5-1 trading plan adopted on September 12, 2024. With ON24’s next earnings report scheduled for March 4, 2025, investors can access extensive insider trading analysis and 7 additional ProTips via InvestingProdetailed research reports.
In other recent news, ON24 Inc. announced its Q3 2024 financial results, including revenue of $36.3 million and core platform revenue of $35.6 million, beating its guidance. This marks the sixth consecutive quarter of positive adjusted EBITDA for the company, with free cash flow of $2.1 million, a significant improvement over last year. The company also announced the imminent departure of longtime board member Irwin Federman, who had held the position since March 2000.
In terms of future development, ON24 is targeting full-year profitability in 2025, driven by AI innovation and a stable user base. The company’s AI-powered ACE solution has been instrumental in acquiring and retaining new customers. Furthermore, ON24’s strong cash position of $188.8 million at the end of the third quarter supports its focus on growth and profitability for 2025.
As part of the recent changes, the company’s Board of Directors will undergo changes as Federman has decided not to seek re-election at the 2025 Annual Meeting of Shareholders. His departure does not stem from disagreements with the company’s management, management or any of its committees. The company’s leadership team continues to emphasize its strategic focus on optimizing execution and improving its solution offering to drive growth, profitability and cash flow.
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