ON24 (NYSE: ONTF), a leading cloud-based hybrid engagement platform, today announced financial results for its fourth quarter and fiscal year ended December 31, 2021.
“2021 was the most pivotal year in the company’s history as we achieved numerous milestones across the business. To continue on our path towards reaching $500 million of ARR and beyond, the entire team is focused on executing against key priorities in 2022,” said Sharat Sharan, co-founder and CEO of ON24. “I continue to be optimistic as ever about our future as sales and marketing for B2B organizations is rapidly moving towards digital channels. We are the leading B2B sales and marketing platform for digital engagement, delivering actionable insights to drive measurable business growth. ON24 is a growth business against the backdrop of powerful secular trends and a large TAM.”
Steven Vattuone, Chief Financial Officer of ON24 added, “In 2021, we delivered 43% year-over-year growth in subscription and other platform revenue and saw 21% year-over-year growth in the number of customers contributing more than $100K in ARR. While we had a solid Q4, our outlook reflects some near-term factors as we transition to a post-pandemic world that are impacting top-line growth. We expect Q1 2022 to be the trough with ARR growth to accelerate throughout the year, exiting fiscal 2022 with low teens ARR growth which will further accelerate into fiscal 2023. We are proactively making improvements in areas of our business that we believe will drive operational excellence and re-accelerate growth.”