SONIC FOUNDRY INC - SOFO STOCK NEWS

Sonic Foundry (NASDAQ: SOFO) announced strategic partnerships with Hilbert College, the University of North Alabama, and SkillUp Online to enhance its Global Learning Exchange™ (GLX) program. This initiative aims to provide students with diverse online learning options, including degree and skills development programs. As the fall semester approaches, GLX will enable students to enroll in various relevant learning programs. The company is also looking to forge additional partnerships globally, addressing educational gaps and enhancing its service offerings.

Sonic Foundry, Inc. (NASDAQ: SOFO) reported Q3 fiscal 2022 results, revealing total revenue of $6.5 million, down from $8.7 million year-over-year due to a decline in event sizes and delays in contract renewals. The gross margin improved to 71%. The net loss was $0.14 per share, compared to net income of $0.31 per share in the previous year. Year-to-date revenue decreased by 21% to $21.0 million. Management highlighted ongoing challenges in the Events business and operations in Japan, although optimism surrounds growth initiatives like Vidable and the Global Learning Exchange.

Sonic Foundry (NASDAQ: SOFO) has announced new appointments and service offerings aimed at diversifying its operations and strengthening its brand focus. Duane Glader is appointed General Manager of Operations, Sales, and Business Development for the Global Learning Exchange (GLX). This restructuring aims to enhance the company's support for its three business lines: Mediasite, Vidable™, and GLX. The company is also expanding Mediasite Events to include various video services, attracting increased interest from the investment community.

Sonic Foundry (NASDAQ: SOFO) has opened its first Global Learning Exchange™ (GLX) Hub in Nassau, Bahamas, in collaboration with the Bahamas Institute of Business and Technology (BIBT). The Hub will provide local students with academic support and access to world-class education, commencing applications on July 2. The initiative aims to democratize education and enhance economic mobility. Additionally, Sonic Foundry has established partnerships with eleven universities and expects to finalize program offerings in time for the fall semester.

Sonic Foundry, Inc. (NASDAQ: SOFO) announced the appointment of Mike Snavely as General Manager of its new Vidable™ business unit, responsible for sales and operations. Vidable™ offers AI-driven solutions for video transformation at an enterprise scale. Joe Mozden Jr, CEO, noted Snavely's expertise in launching successful products as crucial for growth. Vidable™ aims to empower users to monetize video content efficiently. The platform is currently available to Sonic Foundry customers with broad access expected in early 2023.

Sonic Foundry, Inc. (NASDAQ: SOFO) reported a total revenue of $7.2 million for Q2 fiscal 2022, a 19% decrease from $8.7 million in Q2 2021 due to deferred customer support revenue and economic issues in Japan. The net loss was $0.15 per share compared to net income of $0.03 per share last year. Adjusted EBITDA was a loss of $787 thousand, down from a positive $852 thousand. Year-to-date revenues fell to $14.5 million from $17.9 million. The CEO highlighted challenges in the events business but expressed confidence in future growth through new initiatives like Vidable™ and Global Learning Exchange™.

Sonic Foundry, Inc. (Nasdaq: SOFO) will participate in the Sidoti Micro-Cap Virtual Conference, scheduled for May 12, 2022, at 10:00 a.m. Eastern Time. CEO Joe Mozden, Jr. will present updates on the company's transformation and expansion into new markets. The webcast will be accessible and archived for 90 days. Additionally, Sonic Foundry will offer virtual one-on-one meetings with investors on the same day, with free registration available on the Sidoti website.

Sonic Foundry Inc. (Nasdaq: SOFO) successfully closed its public offering, issuing 1,700,000 shares of common stock at $2.55 per share, raising approximately $4.3 million in gross proceeds. The offering was managed by Maxim Group LLC and conducted under an effective shelf registration statement with the SEC. Sonic Foundry, a leader in video capture and streaming solutions, serves educational institutions and governments globally, emphasizing its robust market position. The details of the offering and prospectus are available through Maxim Group LLC.

Sonic Foundry (Nasdaq: SOFO) announced a public offering of 1,700,000 shares of common stock priced at $2.55 per share, aiming for gross proceeds of approximately $4.3 million. The offering, led by Maxim Group LLC as the book-running manager, includes a 45-day option for the underwriter to purchase an additional 255,000 shares. The offering is underpinned by an effective shelf registration statement filed with the SEC on February 17, 2022. Closing is anticipated on April 19, 2022, subject to customary conditions.