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Sonic Foundry Announces Fiscal 2021 Third Quarter Financial Results

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.

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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.

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 Jaimee Pitt Community & Events Manager jaimee.pitt@sonicfoundry.com 608.216.7592
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