Sonic Foundry (SOFO) Misses Q1 EPS, Revenue

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Go back to Sonic Foundry (SOFO) Misses Q1 EPS, Revenue

Sonic Foundry Announces Fiscal First Quarter 2023 Financial Results

February 9, 2023 4:05 PM EST

MADISON, Wis.--(BUSINESS WIRE)-- Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in video creation and management solutions, and virtual and hybrid events, today announced consolidated financial results for its 2023 fiscal first quarter ended December 31, 2022.

Highlights for the First Quarter Ended December 31, 2022:

Total revenue was $5.0 million compared to $7.3 million in the prior-year quarter primarily due to client delays in renewals of support contracts due to macro environment concerns, foreign currency impact on Japanese operations, and supply chain disruptions. Gross margin was 61% of revenue versus... More