Luke Hannan's questions to ON24 Inc (ONTF) leadership • Q1 2025
Question
Luke Hannan from Canaccord Genuity asked for clarification on the softness observed late in the quarter and its impact on guidance. He also requested details on the new ON24 IQ product, its place in the AI strategy, and its potential pricing model.
Answer
CFO Steve Vattuone stated that due to increased macro uncertainty, the company adopted a more conservative guidance, particularly for the second half of the year. Executive Sharat Sharan added that while they can't control the macro environment, strong internal drivers like record gross retention and new business wins provide confidence. Regarding AI, Sharan explained that ON24 IQ consists of intelligent agents designed to automate repetitive tasks for customers. He noted that while a low-teens percentage of customers currently pay for AI features, new AI-related SKUs and packages are expected within the next 30 to 60 days.