Sonic Foundry Announces Fourth Quarter and Fiscal Year 2023 Results
Sonic Foundry, Inc. (SOFO)
US:NASDAQ Investor Relations:
sonicfoundry.com/about/investors
Company Research
Source: Business Wire
MADISON, Wis.--(BUSINESS WIRE)--Sonic Foundry, Inc. (OTC: SOFO), the trusted leader in developing comprehensive video recording and streaming solutions for corporations, health organizations and government entities, today announced financial results for the fourth quarter and fiscal year ended September 30, 2023.Highlights for the Fourth Quarter Ended September 30, 2023:• Total revenue was $5.6 million compared to $6.5 million in the prior-year quarter primarily due to prior year custom software development for a European defense customer that was not repeated in the current year, a lower amount of activity in the virtual and hybrid events industry and delays in renewals of support contracts.• Gross margin was 58% of revenue versus 61% of revenue in the comparable quarter primarily due to transition costs incurred as we move to AWS in order to improve the hosting environment, limit long-term capital investment, and better position the company for growth.• Net loss was $3.7 million
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Sec Filings
- 3/22/24 - Form 8-K
- 3/14/24 - Form 8-K
- 3/8/24 - Form 8-K
- SOFO's page on the SEC website