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Sonic Foundry (NASDAQ: SOFO) is a global leader in video capture, management, and webcasting solutions across education, business, and government sectors. With the patented Mediasite enterprise video platform, the company serves over 3,800 customers in 65 countries, transforming communication, training, education, and events.
Sonic Foundry has been recognized by Aragon Research, Frost & Sullivan, Forrester, and Gartner as a leader/challenger in various segments, showcasing their industry expertise and innovative solutions.
Recently, Sonic Foundry announced a definitive agreement with Enghouse Systems Limited for the acquisition of its Mediasite business, representing a significant development in the company's growth trajectory.
Sonic Foundry Inc. (Nasdaq: SOFO) has initiated an underwritten public offering of its common stock, subject to market conditions. The offering follows an effective shelf registration statement filed with the SEC, which was declared effective on March 1, 2022. Maxim Group LLC serves as the sole book-running manager for the offering. The completion details, size, and specific terms remain uncertain. Sonic Foundry is recognized for its video capture, management, and streaming solutions, serving various institutions globally.
Sonic Foundry (NASDAQ: SOFO) announced the launch of its innovative Global Learning Exchange™, a solution aimed at providing flexible and cost-effective access to higher education. The construction of the first hub in the Bahamas is underway, with completion expected in July 2022. This hub will offer local support, admissions assistance, tutoring, and a collaborative learning environment, unlike existing online education platforms. Sonic Foundry has partnered with the Bahamas Institute of Business and Technology to facilitate enrollment. The initiative aims to democratize education globally and expand university partnerships.
Sonic Foundry (NASDAQ: SOFO) announced the launch of two new initiatives, Vidable and Global Learning Exchange, targeting high-growth markets in video management and education. With a proven history in video capture solutions, the company aims to capitalize on the growing demand for video content creation and delivery. Vidable, an AI-driven platform, addresses challenges faced by organizations in managing video libraries, while GLX seeks to provide accessible higher education opportunities in emerging markets. Sonic Foundry has already signed MOUs with several universities for GLX and is receiving positive feedback on Vidable.
Sonic Foundry (NASDAQ: SOFO) will hold its annual shareholders meeting virtually on March 10, 2022, at 9 a.m. CST via the Mediasite Connect platform. CEO Joe Mozden will discuss significant achievements from 2021 and provide updates on strategic initiatives crucial for growth. Investors can register for live attendance or watch an on-demand recording at sonicfoundry.com. Voting is encouraged before the meeting, and a Q&A session will follow the presentation.
Sonic Foundry (NASDAQ: SOFO) reported first-quarter 2022 financial results with total revenue of $7.3 million, down from $9.2 million in Q1 2021 due to event cancellations from COVID. Gross margin decreased to 71%, and the company incurred a net loss of $0.17 per share versus a net income of $0.08 last year. Adjusted EBITDA was a negative $1.1 million. Management expects flat revenues for fiscal 2022 but aims to grow through expanding cloud capabilities and democratizing education. SOFO successfully uplisted to Nasdaq, enhancing visibility among investors.
Sonic Foundry has announced that its application for uplisting to the Nasdaq Capital Market has been approved. Trading is set to begin on January 25, 2022, under the ticker symbol "SOFO." This uplisting reflects the company's progress in stabilizing its business and enhancing its financial health. CEO Joe Mozden Jr. emphasized the shift in video engagement due to the pandemic and highlighted Sonic Foundry's unique positioning to capitalize on this trend. The company plans to announce its first-quarter fiscal year 2022 results on February 10, 2022.
Sonic Foundry (SOFO) reported a 1.4% increase in total revenue for fiscal year 2021, reaching $35.2 million, driven by growth in cloud and event services. The company achieved a net income of $3.1 million, or $0.36 per diluted share, compared to a loss in 2020. However, the fourth quarter revenue dipped to $8.6 million, down from $10.2 million year-over-year, and a net loss of $458 thousand was reported. Management emphasized a strategic shift towards SaaS and investment in AI-based video solutions to capture new market opportunities.
Sonic Foundry, Inc. (OTCQX: SOFO) has appointed Sarah Wilde as the new Director of Marketing and Donny Neufuss as the Director of Business Development and Strategic Partnerships. This strategic move aims to enhance growth in video creation and management solutions during a notable surge in video usage due to the pandemic. Wilde will focus on global marketing strategies, while Neufuss will expand key partnerships. Both executives bring significant experience to Sonic Foundry as it looks to capitalize on recent trends in the video industry.
Sonic Foundry, Inc. (OTCQX: SOFO) announced the appointment of two new executives, Sarah Wilde as Director of Marketing and Donny Neufuss as Director of Business Development and Strategic Partnerships. This strategic move aims to leverage the increasing demand for video solutions, particularly following the pandemic. Wilde will lead global marketing efforts, while Neufuss will focus on expanding partnerships and growth opportunities. CEO Joe Mozden Jr. emphasizes the importance of expertise in addressing the current growth phase of the company.
Sonic Foundry (OTC: SOFO) announced that its video capture solution, Mediasite Mosaic, received the "Best Tool for Back to School" award for Higher Education from Tech & Learning. This one-click desktop app empowers educators and remote workers to easily manage video content from various web conferencing tools. The award highlights Mediasite Mosaic's role in enhancing education amid evolving learning environments. The product has previously won the "Best Remote Tool" accolade and was recognized as a finalist for the "Cool Tool" category this year.
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