ON24 INC. Fair Value Disclosure
| December 31, 2025 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||
Cash equivalents - money market mutual funds | $ | 30,224 | $ | — | $ | — | $ | 30,224 | |||||||||||||||
Marketable securities | |||||||||||||||||||||||
| U.S. Treasury securities | — | 130,516 | — | 130,516 | |||||||||||||||||||
| Total cash equivalents and marketable securities | $ | 30,224 | $ | 130,516 | $ | — | $ | 160,740 | |||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||
| Cash equivalents - money market mutual funds | $ | 10,716 | $ | — | $ | — | $ | 10,716 | |||||||||||||||
Marketable securities | |||||||||||||||||||||||
| U.S. Treasury securities | — | 167,803 | — | 167,803 | |||||||||||||||||||
| Total cash equivalents and marketable securities | $ | 10,716 | $ | 167,803 | $ | — | $ | 178,519 | |||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 14, 2022 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.