On24 reports Q1 EPS 2c, consensus (1c)

Reports Q1 revenue $37.7M, consensus $37.0M. Reports total ARR of $136.5M as of March 31. The company said, “In Q1, we continued to execute against our strategic and financial targets, delivering solid topline results and achieving our profitability targets for the fourth quarter in a row. Furthermore, we were pleased with continued signs of stability in our customer base with positive trends in gross retention rates, greater business diversification across customer verticals with mission-critical digital transformation use cases, and expansion through our newly launched AI-powered next generation platform. Looking forward, we are being prudent in our outlook for FY 2024 given continued pressure on marketing budgets, but we remain confident that the company is well-positioned to achieve its long-term goal of generating double-digit top-line growth with double-digit EBITDA margins.”