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Sonic Foundry Announces Fiscal 2020 Third Quarter Financial Results – Second Consecutive Quarter of Net Income

MADISON, Wis. – August 13, 2020 – Sonic Foundry, Inc. (OTC: SOFO), the trusted leader for video creation and management solutions, today announced consolidated financial results for its fiscal 2020 third quarter ended June 30, 2020. 

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Fiscal 2020 Third Quarter Highlights 

 

  • Billings of $7.7 million in the third quarter of 2020, bringing total billings for the year to $24.3 million which is $300,000 ahead of last year  
  • Total revenues of $7.9 million compared to $10.1 million in the third quarter of 2019, and $24.6 million total revenue year-to-date compared to $25.6 million last year 
  • Gross margin remained consistent at 73 percent for the third quarter in both 2020 and 2019 
  • Net income attributable to common stockholders of $107,000, or $.01 per share, compared to a net loss of $(159,000), or $(0.03) per share, in the third quarter of 2019, an improvement of $266,000 
  • Adjusted EBITDA of $353,000 for the third quarter of 2020, bringing year-to-date adjusted EBITDA to $767,000, which is $2 million ahead of last year  
  • Unearned revenue was $11.3 million as of June 30, 2020 and $11.5 million as of 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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