Q1 Earnings Roundup: ON24 (NYSE:ONTF) And The Rest Of The Sales And Marketing Software Segment
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Let’s dig into the relative performance of ON24 (NYSE:ONTF) and its peers as we unravel the now-completed Q1 sales and marketing software earnings season.
The Internet and the exploding amount of data have transformed how businesses interact with, market to, and transact with their customers. Personalization of offerings, e-commerce, targeted advertising and data-empowered sales teams are now table stakes for modern businesses, and sales and marketing software providers are becoming the tools of evolving customer interaction.
The 23 sales and marketing software stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.5% while next quarter’s revenue guidance was in line.
In light of this news, share prices of the companies have held steady as they are up 4.8% on average since the latest earnings results.
ON24 (NYSE:ONTF)
Started in 1998 as a platform to broadcast press conferences, ON24’s (NYSE:ONTF) software helps organizations organize online webinars and other virtual events and convert prospects into customers.
ON24 reported revenues of $34.73 million, down 7.9% year on year. This print exceeded analysts’ expectations by 1.5%. Despite the top-line beat, it was still a slower quarter for the company with full-year EPS guidance missing analysts’ expectations.
The stock is up 17.4% since reporting and currently trades at $5.53.
Read our full report on ON24 here, it’s free.
Best Q1: Yext (NYSE:YEXT)
Founded in 2006 by Howard Lerman, Yext (NYSE:YEXT) offers software as a service that helps their clients manage and monitor their online listings and customer reviews across all relevant databases, from Google Maps to Alexa or Siri.
Yext reported revenues of $109.5 million, up 14.1% year on year, outperforming analysts’ expectations by 1.8%. The business had an exceptional quarter with a solid beat of analysts’ annual recurring revenue estimates and an impressive beat of analysts’ billings estimates.
The market seems happy with the results as the stock is up 30.4% since reporting. It currently trades at $8.88.
Is now the time to buy Yext? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Braze (NASDAQ:BRZE)
Founded in 2011 after the co-founders met at NYC Disrupt Hackathon, Braze (NASDAQ:BRZE) is a customer engagement software platform that allows brands to connect with customers through data-driven and contextual marketing campaigns.
Braze reported revenues of $162.1 million, up 19.6% year on year, exceeding analysts’ expectations by 2.2%. Still, it was a slower quarter as it posted full-year EPS guidance missing analysts’ expectations.