ON24 disclosed its fourth‑quarter and full‑year 2025 financial results on February 25, 2026, following the company’s definitive agreement to be acquired by Cvent for approximately $400 million in all‑cash consideration, which will pay $8.10 per share to ON24 shareholders and is expected to close in the first half of 2026.
For the quarter ended December 31, 2025, ON24 reported a GAAP net loss of $6.5 million, or $(0.15) per diluted share, compared with a GAAP net loss of $8.9 million, or $(0.21) per diluted share, in Q4 2024. Non‑GAAP net income was $2.4 million, or $0.05 per diluted share, versus $2.5 million, or $0.06 per diluted share, in the prior year’s quarter.
On the full‑year basis, the company posted a GAAP net loss of $28.9 million, or $(0.68) per diluted share, a significant improvement from the $42.2 million, or $(1.01) per diluted share, loss reported for 2024. Non‑GAAP net income for 2025 was $4.3 million, or $0.09 per diluted share, down from $6.1 million, or $0.13 per diluted share, in 2024.
Management highlighted that Q4 2025 was the strongest quarter in three years, citing the best annual recurring revenue (ARR) performance, the highest in‑period gross retention, and the addition of 18 net new customers. AI‑enabled ARR grew 66% year‑over‑year, with more than one in five customers adopting AI offerings, underscoring the company’s focus on intelligent engagement solutions.
The acquisition by Cvent is a strategic move to combine complementary platforms that serve enterprise marketers and event professionals. The all‑cash transaction values ON24 at roughly $400 million and positions the combined entity to accelerate hybrid event capabilities and AI‑driven engagement, while providing ON24 shareholders with a premium of about 62% over the November 10, 2025 closing price.
The earnings release, coupled with the acquisition announcement, signals a shift in ON24’s trajectory. Improved profitability metrics, strong customer retention, and a clear exit strategy through Cvent’s acquisition provide investors with a more defined outlook for the company’s future performance and strategic direction.
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