Sonic Foundry (SOFO) Tops Q2 EPS by 8c

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Go back to Sonic Foundry (SOFO) Tops Q2 EPS by 8c

Sonic Foundry Announces Fiscal Second Quarter 2023 Financial Results

May 11, 2023 4:05 PM EDT

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 second quarter ended March 31, 2023.

Executive Summary:

In the second quarter, there was a substantial lift in Mediasite renewals and hardware sales. This resulted in Mediasite billings increasing 40% over the first quarter, revenue increasing nearly 15% over the first quarter and a 32% sequential increase in recurring billings from contract renewals. We anticipate this growth in Mediasite recurring billings should translate... More