California-based tech company ON24 Inc. (ONTF), is down 30% in the morning after reporting a loss in the second quarter. The company's outlook for the next quarter and the full year also failed to meet estimates.
Net loss for the quarter was $2.5 million or $0.05 loss per share, compared to profit of $5.3 million or $0.14 earnings per share. On an adjusted basis, the net income was $2.5 million or $0.04 earnings per share, dropped from $7.1 million or $0.69 earnings per share. Eight analysts polled by Thomson Reuters estimated breakeven per share for the quarter.
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