ON24 (ONTF) To Report Earnings Tomorrow: Here Is What To Expect

Petr Huřťák /
2023/02/27 4:58 am EST

Virtual events software company (NYSE:ONTF) will be reporting results tomorrow after market close. Here's what investors should know.

Last quarter ON24 reported revenues of $47.6 million, down 3.62% year on year, in line with analyst expectations. It was a weak quarter for the company, with declining revenue and underwhelming guidance for the next quarter.

Is ON24 buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting ON24's revenue to decline 11.3% year on year to $46.2 million, a further deceleration on the 2.35% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.

ON24 Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.83%.

Looking at ON24's peers in the sales and marketing software segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Shopify delivered top-line growth of 25.7% year on year, beating analyst estimates by 5.11% and LiveRamp reported revenues up 12.8% year on year, exceeding estimates by 0.55%. Shopify traded down 0.71% on the results, LiveRamp was up 4.99%. Read our full analysis of Shopify's results here and LiveRamp's results here.

Investors in the software segment have had steady hands going into the earnings, with the stocks up on average 0.97% over the last month. ON24 is up 4.79% during the same time, and is heading into the earnings with analyst price target of $9.8, compared to share price of $9.62.

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The author has no position in any of the stocks mentioned.