Sonic Foundry (SOFO) Reports Q2 Loss of $0.33

Sonic Foundry (NASDAQ: SOFO) reported Q2 EPS of ($0.33).

Fiscal 2018 Second Quarter Highlights

• Total revenues were $8.5 million compared to $8.6 million in the second quarter of 2017
• Gross margin was $5.9 million, or 70% of sales compared to $6.1 million, or 71% of sales in the second quarter of 2017
• Adjusted EBITDA was $(808) thousand compared to $(736) thousand in the second quarter of 2017
• Net loss of $(1.4) million, or $(0.32) per share compared to $(1.5) million, or $(0.33) per share in the second quarter of 2017
• Billings totaled $8.5 million in the second quarter of 2018, a decrease of 7% compared to the same period last year
• Unearned revenue decreased to $11.6 million as of March 31, 2018. The Company reduced unearned revenue for a China distributor by $1.5 million during the quarter due to an expectation that conversion to revenue would take an extended period of time and therefore was not fixed and determinable
• Reduced operating cash usage by approximately $1.0 million for the six-month period

For earnings history and earnings-related data on Sonic Foundry (SOFO) click here.

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