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.
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.
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.
