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ON24 Valuation Multiples

Discover revenue and EBITDA valuation multiples for ON24 and similar public comparables like GBS Software, Netbay, and Dubber.

ON24 Overview

About ON24

ON24 Inc provides a cloud-based intelligent engagement platform that combines experiences with personalization and content, to enable sales and marketing organizations to capture and act on connected insights at scale. The Company’s platform offers a portfolio of interactive and hyper-personalized digital experience products that create and capture actionable, real-time data at scale from millions of professionals to provide businesses with buying signals and behavioral insights to efficiently convert prospects into customers. It provides solutions to Financial services, Life Sciences, Life sciences, Insurance, Technology, Associations, and Others.


Founded

1998

HQ

United States of America
Employees

437

Website

on24.com

Financials

LTM Revenue $144M

LTM EBITDA $1.1M

EV

$63.4M

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ON24 Financials

ON24 has a last 12-month revenue (LTM) of $144M and a last 12-month EBITDA of $1.1M.

In the most recent fiscal year, ON24 achieved revenue of $148M and an EBITDA of -$36.7M.

ON24 expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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ON24 P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $144M XXX $148M XXX XXX XXX
Gross Profit $83.7M XXX $110M XXX XXX XXX
Gross Margin 58% XXX 74% XXX XXX XXX
EBITDA $1.1M XXX -$36.7M XXX XXX XXX
EBITDA Margin 1% XXX -25% XXX XXX XXX
EBIT -$3.3M XXX -$50.7M XXX XXX XXX
EBIT Margin -2% XXX -34% XXX XXX XXX
Net Profit -$39.0M XXX -$42.2M XXX XXX XXX
Net Margin -27% XXX -28% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

ON24 Stock Performance

As of May 30, 2025, ON24's stock price is $6.

ON24 has current market cap of $242M, and EV of $63.4M.

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ON24 Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$63.4M $242M XXX XXX XXX XXX $0.09

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ON24 Valuation Multiples

As of May 30, 2025, ON24 has market cap of $242M and EV of $63.4M.

ON24's trades at 0.4x EV/Revenue multiple, and -1.7x EV/EBITDA.

Equity research analysts estimate ON24's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

ON24 has a P/E ratio of -6.2x.

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ON24 Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $242M XXX $242M XXX XXX XXX
EV (current) $63.4M XXX $63.4M XXX XXX XXX
EV/Revenue 0.4x XXX 0.4x XXX XXX XXX
EV/EBITDA 59.0x XXX -1.7x XXX XXX XXX
EV/EBIT -19.4x XXX -1.3x XXX XXX XXX
EV/Gross Profit 0.8x XXX n/a XXX XXX XXX
P/E -6.2x XXX -5.7x XXX XXX XXX
EV/FCF 31.5x XXX 24.7x XXX XXX XXX

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ON24 Margins & Growth Rates

ON24's last 12 month revenue growth is -6%

ON24's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.4M for the same period.

ON24's rule of 40 is -33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ON24's rule of X is -13% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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ON24 Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -6% XXX -5% XXX XXX XXX
EBITDA Margin 1% XXX -25% XXX XXX XXX
EBITDA Growth -81% XXX n/a XXX XXX XXX
Rule of 40 -33% XXX -30% XXX XXX XXX
Bessemer Rule of X XXX XXX -13% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.4M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 53% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 24% XXX XXX XXX
Opex to Revenue XXX XXX 109% XXX XXX XXX

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ON24 Public Comps

See public comps and valuation multiples for Communication & Collaboration Software and Video & Streaming Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
CM.com XXX XXX XXX XXX XXX XXX
Dubber XXX XXX XXX XXX XXX XXX
Netbay XXX XXX XXX XXX XXX XXX
Tanla Platforms XXX XXX XXX XXX XXX XXX
GBS Software XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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ON24 M&A and Investment Activity

ON24 acquired  XXX companies to date.

Last acquisition by ON24 was  XXXXXXXX, XXXXX XXXXX XXXXXX . ON24 acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by ON24

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About ON24

When was ON24 founded? ON24 was founded in 1998.
Where is ON24 headquartered? ON24 is headquartered in United States of America.
How many employees does ON24 have? As of today, ON24 has 437 employees.
Who is the CEO of ON24? ON24's CEO is Mr. Sharat Sharan.
Is ON24 publicy listed? Yes, ON24 is a public company listed on NYS.
What is the stock symbol of ON24? ON24 trades under ONTF ticker.
When did ON24 go public? ON24 went public in 2021.
Who are competitors of ON24? Similar companies to ON24 include e.g. CM.com, Dubber, Netbay, Tanla Platforms.
What is the current market cap of ON24? ON24's current market cap is $242M
What is the current revenue of ON24? ON24's last 12 months revenue is $144M.
What is the current revenue growth of ON24? ON24 revenue growth (NTM/LTM) is -6%.
What is the current EV/Revenue multiple of ON24? Current revenue multiple of ON24 is 0.4x.
Is ON24 profitable? Yes, ON24 is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of ON24? ON24's last 12 months EBITDA is $1.1M.
What is ON24's EBITDA margin? ON24's last 12 months EBITDA margin is 1%.
What is the current EV/EBITDA multiple of ON24? Current EBITDA multiple of ON24 is 59.0x.
What is the current FCF of ON24? ON24's last 12 months FCF is $2.0M.
What is ON24's FCF margin? ON24's last 12 months FCF margin is 1%.
What is the current EV/FCF multiple of ON24? Current FCF multiple of ON24 is 31.5x.

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