SOURCE: ON24, Inc.

July 19, 2005 06:00 ET

ON24 Announces Strong 1st Half Financial Results

Revenue Increases 60% Over Previous Period

SAN FRANCISCO, CA -- (MARKET WIRE) -- July 19, 2005 -- ON24 Inc., the global leader in webcast and multimedia communication solutions, today announced results for the 1st half of its 2005 fiscal year, ending June 30th. Revenue for the 1st half grew by 60% over the previous period, driven by strong growth in Europe and Asia; continued demand from the enterprise, publishing, life sciences and government sectors; and the successful launch of new products: ON24 Simple Audio, and enhancements to ON24 Demo Webcasts.

The company's international expansion includes the formation of ON24, Ltd. and the opening of a London office earlier this year. European customers include Cartesis, VNU and Genesys Conferencing. In addition, ON24 developed several local partners in the Asia-Pacific region to support its business in the China, Korea, and Hong Kong markets.

ON24 signed more than 120 customer contracts in the 1st half of 2005, notably with 3Com, Bracco Diagnostics, Crain Publishing, Juniper Networks, Maverick Capital, Spansion, and Symbiotix. In the government sector, ON24 was awarded its Federal Supply Schedule, GS-35F-046R, earlier this year.

ON24 added two new products to its offerings. ON24 Simple Audio is an easy-to-use product that allows for the quick creation of on-demand audio webcasts with synchronized slides. The product also features advanced registration and reporting capabilities. ON24 Demo Webcasts allows for the integration of software or web-based product demonstrations within events produced with the company's flagship product, Webcast Center.

"The 2nd quarter of 2005 was ON24's eighteenth consecutive quarter of revenue growth," said Sharat Sharan, President and CEO of ON24, Inc. He continued, "ON24's impressive growth is due to our focus on delighting customers with a one-stop shop of webcasting and multimedia products combined with a world-class service organization. Our ASP webcast infrastructure and solutions have become a must-have for customers who are looking to partner and build their webcast business with a strategic vendor in this growth market."

About ON24, Inc.

ON24 is a leading provider of webcast and multimedia communication solutions. ON24 offers one-stop solutions for internal and external multimedia communications for customers in the enterprise, technology, life sciences, government and financial services industries. More than 500 leading companies including Cardinal Health, Cisco Systems, Credit Suisse First Boston, Hewlett-Packard, Merrill Lynch, NCAA, Philips, and Sun Microsystems use ON24 for activities such as conferences and events, product launches, sales training, continuing medical education, executive announcements, equity research and financial road shows. Based in San Francisco, the privately held company was founded in 1998.

Companies interested in learning more about ON24's complete line of webcasting solutions can call 415.369.8000 or send inquiries to solutions@on24.com.

"A World of Webcasting Solutions. One Webcasting Vendor"™ -- is a trademark of ON24.

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