ON24 (NYSE: ONTF), a leading sales and marketing platform for digital engagement, today announced financial results for the first quarter ended March 31, 2022.
“In Q1, we’ve made progress on the key priorities that we’ve laid out for 2022. Looking ahead to the remainder of 2022 and beyond, our strategic growth agenda is focused on evolving our digital engagement platform for a post-pandemic world. We’ve launched two new products in the last two quarters which we believe will be meaningful future growth drivers in expanding our platform and the market opportunity,” said Sharat Sharan, co-founder and CEO of ON24. “We are confident in our strong market position and the large opportunity in front of us despite the impact from near-term macro uncertainty, particularly in EMEA.”
First Quarter 2022 Financial Highlights
- ARR of $167.7 million as of March 31, 2022, an increase of 3% year-over-year.
- Total revenue was $48.5 million, a decrease of 3% year-over-year.
- Subscription and Other Platform Revenue was $43.5 million, an increase of 1% year-over-year.
- Professional Services Revenue was $5.0 million, a decrease of 30% year-over-year.