ON24 (ONTF)
Market Price (2/3/2026): $7.99 | Market Cap: $340.8 MilSector: Information Technology | Industry: Application Software
ON24 (ONTF)
Market Price (2/3/2026): $7.99Market Cap: $340.8 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -51% | Trading close to highsDist 52W High is -1.1% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -39 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -28% |
| Megatrend and thematic driversMegatrends include Digital Transformation & Future of Work. Themes include Virtual Event Platforms, Digital Engagement Platforms, and Enterprise Video & Communications. | Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -72% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -4.7% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% | ||
| Key risksONTF key risks include [1] declining revenue and customer retention issues and [2] a history of net losses and challenges in achieving profitability. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -51% |
| Megatrend and thematic driversMegatrends include Digital Transformation & Future of Work. Themes include Virtual Event Platforms, Digital Engagement Platforms, and Enterprise Video & Communications. |
| Trading close to highsDist 52W High is -1.1% |
| Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -72% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -39 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -28% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10%, Rev Chg QQuarterly Revenue Change % is -4.7% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% |
| Key risksONTF key risks include [1] declining revenue and customer retention issues and [2] a history of net losses and challenges in achieving profitability. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q3 2025 Earnings Beat and Positive Guidance
ON24 reported its earnings on Monday, November 10, 2025, announcing earnings per share (EPS) of $0.03, surpassing the consensus estimate of $0.01. The company's revenue also exceeded expectations, coming in at $34.60 million against an estimated $33.87 million. Furthermore, ON24 provided optimistic guidance for fiscal year 2025, projecting EPS between $0.050 and $0.060, and for Q4 2025, with EPS guidance of $0.010-$0.020. This positive financial performance and outlook likely contributed to increased investor confidence and stock appreciation.
2. News of a Potential Acquisition by Cvent
On December 30, 2025, news emerged that ON24 was to be acquired by Cvent in an all-cash deal, leading to a significant surge in ONTF's stock price in pre-market trading. Although subsequent reports indicated investigations by M&A class action firms regarding the adequacy of the price and process of the proposed sale, the initial announcement of the acquisition served as a substantial catalyst for the stock's upward movement due to the potential for a premium buyout.
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Stock Movement Drivers
Fundamental Drivers
The 44.4% change in ONTF stock from 10/31/2025 to 2/2/2026 was primarily driven by a 46.4% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.52 | 7.97 | 44.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 143 | 141 | -1.2% |
| P/S Multiple | 1.6 | 2.4 | 46.4% |
| Shares Outstanding (Mil) | 43 | 43 | -0.2% |
| Cumulative Contribution | 44.4% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| ONTF | 44.4% | |
| Market (SPY) | 2.0% | 11.3% |
| Sector (XLK) | -3.4% | 5.9% |
Fundamental Drivers
The 60.7% change in ONTF stock from 7/31/2025 to 2/2/2026 was primarily driven by a 67.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.96 | 7.97 | 60.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 145 | 141 | -2.6% |
| P/S Multiple | 1.4 | 2.4 | 67.2% |
| Shares Outstanding (Mil) | 42 | 43 | -1.3% |
| Cumulative Contribution | 60.7% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| ONTF | 60.7% | |
| Market (SPY) | 10.3% | 22.9% |
| Sector (XLK) | 10.7% | 14.9% |
Fundamental Drivers
The 15.7% change in ONTF stock from 1/31/2025 to 2/2/2026 was primarily driven by a 25.7% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.89 | 7.97 | 15.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 151 | 141 | -6.2% |
| P/S Multiple | 1.9 | 2.4 | 25.7% |
| Shares Outstanding (Mil) | 42 | 43 | -1.8% |
| Cumulative Contribution | 15.7% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| ONTF | 15.7% | |
| Market (SPY) | 16.6% | 32.1% |
| Sector (XLK) | 26.5% | 29.7% |
Fundamental Drivers
The -0.5% change in ONTF stock from 1/31/2023 to 2/2/2026 was primarily driven by a -28.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.01 | 7.97 | -0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 196 | 141 | -28.0% |
| P/S Multiple | 1.9 | 2.4 | 23.8% |
| Shares Outstanding (Mil) | 48 | 43 | 11.7% |
| Cumulative Contribution | -0.5% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| ONTF | -0.5% | |
| Market (SPY) | 77.5% | 34.6% |
| Sector (XLK) | 118.0% | 31.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ONTF Return | -76% | -50% | 6% | -18% | 23% | 0% | -87% |
| Peers Return | -0% | -58% | 56% | 8% | -19% | -14% | -51% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| ONTF Win Rate | 27% | 17% | 58% | 33% | 42% | 50% | |
| Peers Win Rate | 50% | 28% | 55% | 53% | 43% | 10% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ONTF Max Drawdown | -79% | -60% | -21% | -31% | -31% | 0% | |
| Peers Max Drawdown | -27% | -62% | -10% | -22% | -34% | -17% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ZM, CRM, ADBE, HUBS, RNG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | ONTF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -92.1% | -25.4% |
| % Gain to Breakeven | 1164.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to ZM, CRM, ADBE, HUBS, RNG
In The Past
ON24's stock fell -92.1% during the 2022 Inflation Shock from a high on 2/9/2021. A -92.1% loss requires a 1164.9% gain to breakeven.
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About ON24 (ONTF)
AI Analysis | Feedback
Here are 1-2 brief analogies for ON24 (ONTF):
- Like Zoom, but purpose-built for enterprise marketing webinars and virtual events, with advanced engagement and analytics features.
- A specialized HubSpot for digital experiences, helping companies host engaging webinars and virtual events to generate leads and drive revenue.
AI Analysis | Feedback
- Webinar Platform: Provides tools for creating, managing, and delivering interactive, data-rich webinars for marketing, training, and sales.
- Virtual Event Platform: Offers a comprehensive solution for hosting scalable, immersive virtual conferences, trade shows, and other multi-session online events.
- Content Engagement Platform: Delivers interactive content experiences, including personalized content hubs and video-centric forums, to drive engagement and capture audience data.
AI Analysis | Feedback
ON24 (symbol: ONTF) primarily sells its digital experience platform, which includes webinar, virtual event, and content engagement solutions, to other companies (B2B).
While ON24 serves a wide range of enterprise clients across various industries, some of the prominent companies that have utilized ON24's platform for their marketing, sales, and training initiatives include:
- IBM (NYSE: IBM)
- Microsoft (NASDAQ: MSFT)
- Cisco (NASDAQ: CSCO)
- Adobe (NASDAQ: ADBE)
- HubSpot (NYSE: HUBS)
For a SaaS company like ON24, customer concentration is generally low, meaning no single customer typically accounts for a significant portion of its total revenue. The companies listed above are illustrative examples of their extensive enterprise client base.
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Sharat Sharan, Founder, President and CEO
Sharat Sharan is a seasoned technology executive and entrepreneur, best known as the Co-founder, President, and CEO of ON24, a role he has held since 1998. He successfully navigated ON24 through its initial growth phases, leading it from a startup to a global, publicly-traded leader in the digital experience and webinar marketing space, culminating in its successful IPO on the NYSE in February 2021. Prior to co-founding ON24, Sharan held executive roles at AT&T Wireless Systems and was Vice President and General Manager, and Group Vice President at Hearst New Media (1993-1996), where he co-founded Hearst's internet media business. He also began his career at AT&T Bell Laboratories.
Steven Vattuone, Chief Financial Officer
Steven Vattuone serves as the Chief Financial Officer of ON24. He joined ON24 in May 2018. His prior experience includes serving as CFO at FinancialForce (now Certinia), where he played a key role in raising over $200 million in growth equity funding and expanding global operations. He also held CFO positions at PowerReviews and OpenTable. At OpenTable, he led the company through its IPO and later its acquisition by The Priceline Group for $2.6 billion. Vattuone also served as CFO at NetSuite, where he guided the company through its IPO and oversaw substantial revenue growth. His background demonstrates a pattern of managing companies through significant growth phases, including IPOs and acquisitions, and working with companies that have received private equity and venture capital backing.
Jim Blackie, Chief Revenue Officer
Jim Blackie is the Chief Revenue Officer of ON24, a position he has held since joining the company in December 2016. In this role, he is responsible for driving the company's global revenue growth and sales strategies.
Jayesh Sahasi, Executive VP, Products and CTO
Jayesh Sahasi serves as the Executive Vice President of Product and Chief Technology Officer (CTO) at ON24. He is responsible for overseeing the design and development of ON24's strategic products and platform innovations.
Alex Saleh, Chief Operations Officer
Alex Saleh is the Chief Operations Officer (COO) of ON24, having joined the company in April 2018. As COO, he plays a critical role in managing and optimizing the company's operational efficiency and strategic initiatives.
AI Analysis | Feedback
The key risks to ON24's business include declining revenue and customer retention issues, a history of net losses and challenges in achieving profitability, and intense competition within the rapidly evolving technological landscape of webinar and engagement platforms.
- Declining Revenue and Customer Retention Challenges: ON24 has experienced a decline in revenue in recent periods, including decreases of 5% and 7% in the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year. This is linked to fewer new subscriptions, customer churn, and a reduction in total customers (1,566 as of June 30, 2025, down from 1,682 a year prior). The company's ability to attract new customers and ensure existing customers continue their subscriptions is crucial for its financial health. Market factors such as reduced customer budgets and an increased emphasis on in-person marketing also contribute to this risk.
- History of Net Losses and Achieving Profitability: ON24 has a history of incurring net losses. For example, it reported net losses of $7.3 million and $16.0 million for the three and six months ended June 30, 2025, respectively. The company may continue to increase expenses on its sales force, marketing, and platform development, which could further hinder its ability to achieve or maintain profitability in the future.
- Intense Competition and Rapid Technological Evolution: The market for webinar and engagement software is highly competitive, featuring established enterprise software leaders like Zoom, Cisco Webex, GoToWebinar, and Microsoft Teams, as well as rapidly scaling SaaS startups. ON24 faces the ongoing challenge of attracting and retaining customers amidst this intense competition and the continuous need for technological development, including the integration of AI capabilities, to remain relevant and competitive.
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There are two clear emerging threats for ON24 (ONTF):
- Normalization of Virtual Events and the Rise of Hybrid Models: Post-pandemic, businesses are increasingly shifting budgets and strategies towards in-person and hybrid events, reducing the exclusive reliance on purely virtual platforms. This trend impacts demand for ON24's core virtual-first offerings, as companies seek solutions that seamlessly integrate physical and digital experiences, where ON24 may face challenges against competitors with stronger hybrid capabilities or broader event management platforms.
- Intensified Competition from Major Technology Providers and Platform Convergence: Larger technology companies, including communication and collaboration suite providers (e.g., Microsoft Teams, Zoom) and marketing automation platforms (e.g., HubSpot, Salesforce), are continuously enhancing and integrating robust webinar and virtual event functionalities directly into their broader offerings. This convergence allows businesses to manage their digital engagement within existing ecosystems, potentially diminishing the need for a specialized, standalone platform like ON24 and increasing competitive pressure from well-resourced incumbents.
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The addressable markets for ON24's main products and services are substantial on a global scale, encompassing webinar software, virtual event platforms, and the broader digital experience platform (DXP) market.
Webinar Software Market
The global webinar software market was valued at approximately USD 8.8 billion in 2024 and is projected to reach USD 33.1 billion by 2035, demonstrating a compound annual growth rate (CAGR) of 12.8% from 2025 to 2035. Another estimate places the market at USD 9.91 billion in 2025, expecting it to grow to USD 29.39 billion by 2034 with a CAGR of 12.68% from 2025 to 2034.
Virtual Event Platform Market
The global virtual event platform market was estimated at USD 12.4 billion in 2022 and is projected to reach USD 30.6 billion by 2027, growing at a CAGR of 19.8%. Other projections indicate the global market size was USD 15.99 billion in 2025 and is projected to hit approximately USD 37.87 billion by 2034, with a CAGR of 10.05% from 2025 to 2034. For North America, the market size was USD 5.02 billion in 2023. The U.S. virtual event platform market alone was valued at USD 4.56 billion in 2025 and is projected to reach around USD 11.01 billion by 2034, with a CAGR of 10.28%.
Within the virtual event space, the 3D virtual event platforms market, where ON24 is also a recognized player, was valued at USD 3.9 billion globally in 2024 and is expected to reach approximately USD 19.9 billion by 2034, growing at a CAGR of 17.7% from 2025 to 2034. North America held a dominant position in this market, accounting for over 42.5% share and USD 1.65 billion in revenue in 2024. The U.S. market for 3D virtual event platforms is growing at a projected CAGR of 15.6%.
Digital Experience Platform (DXP) Market
ON24 positions its platform as an "Intelligent Engagement Platform," aligning with the broader Digital Experience Platform (DXP) market. The global DXP market size was estimated at USD 12.39 billion in 2023 and is projected to reach USD 30.41 billion by 2030, with a CAGR of 13.7% from 2024 to 2030. Another report projects the market to grow from USD 10.51 billion in 2024 to USD 31.21 billion by 2034, at a CAGR of 11.50% during the forecast period of 2025-2034. North America held the largest share of 43.7% in the DXP market in 2022.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for ON24 (ONTF) over the next 2-3 years: * Expansion of AI-Powered Solutions (ACE): ON24's AI-powered Analytics and Content Engine (ACE) solution is identified as a significant growth vector. The company has seen increased Annual Recurring Revenue (ARR) from ACE as a percentage of growth ARR, indicating its growing contribution to the overall revenue. This focus on leveraging AI to enhance engagement and provide actionable insights is expected to drive future adoption and revenue. * Increased Multi-Product Adoption: ON24's strategy to encourage customers to utilize multiple products within its platform is a key driver. The company has achieved record quarters for the percentage of ARR in multi-year agreements and the percentage of customers using two or more products. This multi-product approach is anticipated to lead to increased adoption, higher ARR, and improved net margins. * Improved Customer Retention and Winbacks: The company has shown an improved retention profile and is experiencing encouraging signs of customer winbacks. In Q3 2024, ON24 reported a high single-digit year-over-year improvement in gross retention. Stabilizing its customer base and re-engaging previous customers are crucial for sustainable growth. * Focus on Mission-Critical Use Cases in Regulated Industries: ON24's emphasis on serving mission-critical use cases, particularly in regulated industries such as life sciences, has contributed to stabilizing its business. This strategic focus allows ON24 to cater to specific industry needs, potentially expanding its market share within these sectors. * Growth in Average Revenue Per Existing Customer: ON24 has demonstrated success in deepening relationships with its existing customer base. The average core platform ARR per customer has steadily increased from approximately $70,000 in fiscal year 2020 to around $80,000 in Q2 2025. This trend of expanding business with current clients through broader usage or additional services is expected to continue contributing to revenue growth.AI Analysis | Feedback
Share Repurchases
- ON24 authorized a new $50 million share repurchase program in May 2025. Approximately $6.8 million has been utilized under this program as of Q3 2025.
- A $25 million share repurchase program was authorized in March 2024. By Q1 2025, $23.6 million had been utilized, with approximately $20.5 million used in 2024 and $3.1 million in Q1 2025.
- Prior to the recent programs, three earlier capital return programs collectively returned $191 million to shareholders by Q2 2025.
Capital Expenditures
- Capital expenditures for the last 12 months (as of November 10, 2025) totaled $2.68 million.
- ON24 reported positive free cash flow of $2.6 million for the full year 2024, an improvement from negative $14.4 million in 2023.
- The company expects to achieve positive free cash flow for the full year 2025.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| ON24 Earnings Notes | 12/16/2025 | |
| How Low Can ON24 Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 151.84 |
| Mkt Cap | 21.1 |
| Rev LTM | 3,897 |
| Op Inc LTM | 596 |
| FCF LTM | 1,266 |
| FCF 3Y Avg | 1,035 |
| CFO LTM | 1,383 |
| CFO 3Y Avg | 1,157 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.9% |
| Rev Chg 3Y Avg | 9.6% |
| Rev Chg Q | 6.8% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Mgn LTM | 12.9% |
| Op Mgn 3Y Avg | 5.9% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 28.8% |
| CFO/Rev 3Y Avg | 26.0% |
| FCF/Rev LTM | 26.4% |
| FCF/Rev 3Y Avg | 23.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 21.1 |
| P/S | 4.9 |
| P/EBIT | 23.9 |
| P/E | 17.3 |
| P/CFO | 14.1 |
| Total Yield | 2.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.3% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.1% |
| 3M Rtn | -12.4% |
| 6M Rtn | -1.2% |
| 12M Rtn | -28.5% |
| 3Y Rtn | -14.9% |
| 1M Excs Rtn | -14.2% |
| 3M Excs Rtn | -14.2% |
| 6M Excs Rtn | -13.7% |
| 12M Excs Rtn | -44.9% |
| 3Y Excs Rtn | -81.6% |
Price Behavior
| Market Price | $7.97 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 02/03/2021 | |
| Distance from 52W High | -1.1% | |
| 50 Days | 200 Days | |
| DMA Price | $6.77 | $5.69 |
| DMA Trend | up | up |
| Distance from DMA | 17.7% | 40.1% |
| 3M | 1YR | |
| Volatility | 85.5% | 53.2% |
| Downside Capture | -79.01 | 91.96 |
| Upside Capture | 151.23 | 92.39 |
| Correlation (SPY) | 11.6% | 32.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.07 | 0.05 | 0.87 | 1.24 | 0.88 | 1.01 |
| Up Beta | 0.14 | -0.18 | 0.33 | 1.99 | 0.86 | 0.95 |
| Down Beta | -0.22 | 2.93 | 2.84 | 1.90 | 0.91 | 0.86 |
| Up Capture | 2% | 65% | 149% | 156% | 89% | 101% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 6 | 17 | 25 | 57 | 110 | 362 |
| Down Capture | 0% | -420% | -90% | 10% | 94% | 106% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 6 | 15 | 27 | 57 | 126 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTF | |
|---|---|---|---|---|
| ONTF | 15.5% | 53.1% | 0.43 | - |
| Sector ETF (XLK) | 25.8% | 26.9% | 0.83 | 29.7% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 32.1% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | -1.0% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 10.5% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 23.2% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 20.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTF | |
|---|---|---|---|---|
| ONTF | -33.4% | 50.1% | -0.63 | - |
| Sector ETF (XLK) | 17.6% | 24.7% | 0.64 | 36.4% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 36.6% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 5.3% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 2.2% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 28.1% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 21.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ONTF | |
|---|---|---|---|---|
| ONTF | -18.4% | 50.1% | -0.63 | - |
| Sector ETF (XLK) | 23.3% | 24.2% | 0.88 | 36.4% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 36.6% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 5.3% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 2.2% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 28.1% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 21.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | 13.6% | 7.0% | 21.0% |
| 8/7/2025 | 4.2% | 9.1% | 18.6% |
| 5/7/2025 | 0.2% | 12.9% | 17.2% |
| 2/25/2025 | -4.1% | -7.0% | -7.6% |
| 11/7/2024 | 1.1% | -0.8% | 4.5% |
| 8/6/2024 | -1.5% | 6.9% | 5.9% |
| 5/7/2024 | -4.4% | -3.7% | -14.3% |
| 2/22/2024 | -8.3% | -8.8% | -10.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 9 |
| # Negative | 11 | 12 | 10 |
| Median Positive | 2.7% | 9.1% | 11.7% |
| Median Negative | -4.6% | -7.9% | -12.3% |
| Max Positive | 13.6% | 12.9% | 21.0% |
| Max Negative | -31.0% | -35.6% | -33.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/14/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sharan, Sharat | President and Chief Executive | Direct | Sell | 1052026 | 7.97 | 50,332 | 401,141 | 28,871,433 | Form |
| 2 | Vattuone, Steven | Chief Financial Officer | Direct | Sell | 1022026 | 7.98 | 80,000 | 638,744 | 3,614,125 | Form |
| 3 | Sahasi, Jayesh | EV President, Product and CTO | Direct | Sell | 1022026 | 7.98 | 34,753 | 277,433 | 5,368,783 | Form |
| 4 | Blackie, James | Chief Revenue Officer | Direct | Sell | 1022026 | 7.96 | 16,000 | 127,360 | 3,811,734 | Form |
| 5 | Sharan, Sharat | President and Chief Executive | Direct | Sell | 12192025 | 5.82 | 19,119 | 111,366 | 21,102,978 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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