MADISON, Wis. – August 12, 2021 – Sonic Foundry, Inc. (OTC Pink Sheets: SOFO), the trusted leader for video creation, management solutions as well as virtual and hybrid events, today announced consolidated financial results for its fiscal 2021 third quarter ended June 30, 2021.
Fiscal 2021 Third Quarter Highlights
- Total revenues of $8.7 million, 9 percent increase compared to the $7.9 million revenue in the third quarter of 2020.
- Gross margin was $6.0 million, or 70 percent of sales, compared to $5.7 million, or 73 percent of sales, in the third quarter of 2020.
- Net income attributable to common stockholders of $2.6 million, comprised of $2.3 million from forgiveness of the Payroll Protection Program loan, and $0.3 million from operations. Net income per share was $0.33, compared to net income of $107 thousand, or $0.01 per share in the third quarter of 2020.
- Adjusted EBITDA was $606 thousand compared to $353 thousand in the third quarter of 2020.
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.
