ON24 (NYSE: ONTF), a cloud-based hybrid engagement platform, today announced that its board of directors has authorized a share buyback program whereby ON24 can buy up to 50 million dollars of its common stock.

“This share buyback program reflects our confidence in ON24’s long-term growth potential and strategy, which we believe is not reflected in the current market valuation. Our strong balance sheet allows us to execute this buyback program while continuing to invest and build our platform for the future, as well as maintaining the flexibility to pursue new strategic opportunities, ”said Sharat Sharan , CEO of ON24.

As part of the buyback program, ON24 may purchase common shares on a discretionary basis from time to time through open market buybacks, privately traded transactions or other means, including through plans. negotiation Rule 10b5-1. The buyback program has a duration of 18 months and ON24 expects buybacks under the program to span several quarters.

The timing and number of Shares repurchased under the Program will depend on a variety of factors, including the share price, trading volume and general business and market conditions. The buyback program does not oblige ON24 to acquire any particular amount of common stock and may be changed, suspended or discontinued at any time at the discretion of the company.

Redemptions under this program will be funded from the Company’s existing cash and cash equivalents or future cash flows. As of September 30, 2021, ON24 had $ 399.7 million in cash, cash equivalents and marketable securities.

About ON24

ON24 provides a cloud-based hybrid engagement platform that makes it easy to create, scale and personalize engaging experiences to drive measurable business growth. Today, we help over 2,000 businesses around the world, including 3 of the 5 largest global technology companies, 4 of the 5 largest US banks, 3 of the 5 largest global healthcare companies, and 3 of the 5 largest global industrial manufacturing companies, converting millions of leads to buyers. Through interactive webinars, virtual events, and on-going multimedia experiences, ON24 delivers an AI-powered engagement system that empowers businesses to scale engagement, conversions, and pipeline to drive business growth. income. The ON24 platform supports millions of professionals per month who total billions of minutes of engagement per year. ON24 is headquartered in San Francisco with global offices in North America, EMEA and APAC. For more information, visit

Forward-looking statements

This document contains “forward-looking statements” under applicable securities laws. Such statements can be identified by words such as: “prospect”, “expect”, “convert”, “believe”, “plan”, “the future”, “could”, “should”, ” go ‘and similar references to future periods. Forward-looking statements include express or implied statements regarding the timing, price and amount of potential repurchases of our common shares, our expected financial and operational results, the size of our market opportunity, the success of our new products and capabilities, the impact of COVID-19 and vaccines on the way people do business, and other statements regarding our ability to achieve our business strategies, growth or other future events or conditions. These statements are based on our current beliefs, expectations and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including our ability to maintain our recent rate of revenue growth, attract new customers and develop sales with existing customers; fluctuations in our performance, our history of net losses and expected increases in our expenses; competition in our markets and any decline in demand for our solutions; our ability to expand our sales and marketing capabilities and otherwise manage our growth; the impact of the COVID-19 pandemic; disruptions or other issues with our technology or third-party services; respect for data confidentiality, import and export controls, customs, penalties and other laws and regulations; intellectual property issues; and matters relating to our common shares, as well as other risks and uncertainties discussed in documents that we file from time to time with the Securities and Exchange Commission. Actual results may differ materially from those shown in forward-looking statements and you should not place undue reliance on them. All statements contained herein are based solely on information currently available to us and speak only as of the date hereof. Unless required by law, we assume no obligation to update such statement.

© 2021 ON24, Inc. All rights reserved. ON24 and the ON24 logo are trademarks owned by ON24, Inc., and are registered with the Patent and Trademark Office in the United States and in other countries.

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SOURCE: ON24, Inc.

Copyright Business Wire 2021.

PUB: 12/02/2021 08: 00 / DISC: 12/02/2021 08:02

Copyright Business Wire 2021.

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