MADISON, Wis. – February 13, 2020 – Sonic Foundry, Inc. (OTC Pink Sheets: SOFO), the trusted leader for video creation and management solutions, today announced consolidated financial results for its fiscal 2020 first quarter ended December 31, 2019.
Fiscal 2020 First Quarter Highlights
- Billings totaled $6.9 million in the first quarter of 2020; an increase of 15 percent compared to the same
period last year
- Total revenues of $8 million compared to $7.5 million in the first quarter of 2019, a 7 percent increase
- Gross margin was $5.8 million, or 73 percent of sales, compared to $5.7 million, or 75 percent of sales, in
the first quarter of 2019
- Net loss attributable to common stockholders of $(820,000), or $(0.12) per share, compared to $(1.8)
million, or $(0.36) per share, in the first quarter of 2019
- Adjusted EBITDA was $(203,000) compared to $(1.2) million in the first quarter of 2019
- Unearned revenue was $10.4 million as of December 31, 2019, down $1.1 million from September 30,
About Sonic Foundry®, Inc.
Founded in 1991 and headquartered in Madison, Wis., Sonic Foundry (OTC: SOFO) is dedicated to transforming how the world works and learns through innovative and scalable technology solutions. We help customers maximize the value of their video initiatives and infrastructure while leveraging our expertise and global footprint to help unlock a smarter, more connected world for learners, workers, and entrepreneurs everywhere. Sonic Foundry’s family of brands includes Mediasite®, Video Solutions, Vidable® and Global Learning Exchange™ which are trusted by thousands of educational institutions, corporations, and health care organizations in dozens of countries around the world. For more information on how Sonic Foundry’s solutions can empower you and your organization to seize today’s opportunities as well as those of the future, visit www.sonicfoundry.com.
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