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Sonic Foundry Announces Fiscal 2020 First Quarter Financial Results

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.

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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,
    2019.

About Sonic Foundry®, Inc.

Sonic Foundry (OTC: SOFO) is the global leader for video capture, management and streaming solutions. Trusted by more than 5,200 educational institutions, corporations, health organizations and government entities in over 65 countries, its Mediasite Video Platform quickly and cost-effectively automates the capture, management, delivery and search of live and on-demand streaming videos. Learn more at www.mediasite.com and @mediasite.

© 2020 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

Media Relations Nicole Wise Director of Communications nicolew@sonicfoundry.com 920.226.0269
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