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Sonic Foundry Announces Fiscal 2021 First Quarter Results – Fourth Consecutive Quarter of Net Income

MADISON, Wis. – February 11, 2021 – Sonic Foundry, Inc. (OTC Pink Sheets: SOFO), the trusted leader for video creation and management solutions as well as virtual and hybrid events, today announced consolidated financial results for its fiscal 2021 first quarter ended December 31, 2020. 

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 Fiscal 2021 First Quarter Highlights

  • Total revenues of $9.2 million compared to $8 million in the first quarter of 2020, a 14 percent increase
  • Gross margin was $6.8 million, or 74 percent in the first quarter of 2021 compared to $5.8 million, or 73 percent in the first quarter of 2020
  • Net income attributable to common stockholders of $632,000, or $0.078 per share, compared to a net loss of $(820,000), or $(0.12) per share, in the first quarter of 2020, an improvement of $1.5 million
  • Adjusted EBITDA of $1.3 million for the first quarter of 2021 compared to $(297,000) in the same quarter last year, a 539% improvement
  • Unearned revenue was $10.4 million as of December 31, 2020 and $10.8 million as of December 31, 2019

About Sonic Foundry®, Inc.

Sonic Foundry (OTC: SOFO) is the global leader for video capture, management and streaming solutions as well as virtual and hybrid events. 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.

© 2021 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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