Company Converts $5.6 Million of Secured Debt into Equity at $5 Per Share
MADISON, Wis. – May 14, 2020 – Sonic Foundry, Inc. (OTC: SOFO), a trusted leader for video creation and management solutions, today announced consolidated financial results for its fiscal 2020 second quarter ended March 31, 2020.
Fiscal 2020 Second Quarter Highlights
- Billings totaled $9.8 million in the second quarter of 2020; an increase of 31 percent compared to the same period last year
- Total revenues of $8.7 million compared to $8 million in the second quarter of 2019, a nine percent increase
- Gross margin was $6.3 million, or 72 percent of sales, compared to $6 million, or 75 percent of sales, in the second quarter of 2019
- Net income attributable to common stockholders of $95,000, or $0.01 per share, compared to $(1.5) million, or $(0.29) per share, in the second quarter of 2019
- Adjusted EBITDA was $767,000 compared to $(784,000) in the second quarter of 2019
- Unearned revenue was $11.5 million as of March 31, 2020 and September 30, 2019.
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. Sonic Foundry’s brands include Vidable® and Global Learning Exchange® which help unlock a smarter, more connected world for learners, workers, and entrepreneurs everywhere. For more information visit www.sonicfoundry.com.
© 2024 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
