SONIC FOUNDRY INC - SOFO STOCK NEWS

Sonic Foundry announced that CEO Joe Mozden Jr. has joined the Forbes Business Council, an exclusive community for successful business leaders.

Mozden's acceptance was based on his impactful business growth achievements. He will leverage this membership to connect with other leaders and share insights on Forbes.com. Previously, he drove significant revenue growth at DeVry University during enrollment declines. His goals include enhancing Sonic Foundry's visibility and collaborating on innovative solutions in video management.

Bank of Sun Prairie successfully hosted its first-ever virtual stockholders meeting using Mediasite Events, expanding its reach nationally. This marked a significant transition for the bank, which has a rich 124-year history of in-person annual meetings. The event allowed stockholders to attend remotely, improving participation from those unable to attend in the past. The seamless execution of the meeting demonstrated the effectiveness of Mediasite’s platform, which enabled real-time voting and analytics. The bank's management expressed satisfaction with the virtual format, highlighting newfound benefits from the pandemic.

Sonic Foundry will host its annual Mediasite Experience (MSX) conference virtually from May 19 to 20, 2021. The event aims to enhance video strategies for schools, corporations, and organizations through a two-day program. Key topics include navigating hybrid events and improving engagement. Participants can access best practices and connect with industry leaders. Registration is available for $99 with a promotional code for a discount. Sonic Foundry is recognized for its video solutions, trusted by over 5,200 institutions globally.

Sonic Foundry (OTC: SOFO) announced that CEO Joe Mozden Jr. is set to present at the Inaugural Emerging Growth Virtual Conference hosted by M Vest and Maxim Group. The event runs from March 17 to March 19, 2021, and features discussions and presentations from various executives in technology, media, and telecom. Sonic Foundry is recognized as a leader in video capture and streaming solutions, serving over 5,200 institutions globally. Attendees can join the conference through M Vest's platform.

Mediasite Mosaic, a personal video capture app, has been named the Best Remote/Blended Learning Tool for Higher Education in 2021 by Tech & Learning. This award highlights its effectiveness in supporting hybrid learning and remote work, especially during the pandemic. Launched in June 2020, Mediasite Mosaic has garnered multiple accolades due to its one-click video capture capabilities, enabling seamless management of recordings and enhancing collaboration in educational settings. Its usage has surged, with a 120% increase in videos created and a 1,500% increase in views year-over-year.

The University of Leeds has transitioned to Mediasite Video Cloud as part of a three-year investment to enhance its academic video program for hybrid classes. The university's video usage surged fivefold last year, with students accessing content 460,000 times in just one month. New features, like automated captioning, improve inclusivity and user experience. The partnership with Sonic Foundry further strengthens their digital education services, supporting over 2.1 million views since September 2020, aiming to provide a high-quality learning experience.

Sonic Foundry has appointed CJ Tao as its new VP Controller, effective March 1, 2021, to enhance its financial operations. Tao will lead finance and accounting efforts to maximize revenue and shareholder value, reporting directly to CEO Joe Mozden Jr. With extensive experience in financial strategy and team leadership, she previously served as interim CFO at Flambeau Diagnostics and held key roles at National Guardian Life and Quartz Health Solutions. Tao holds multiple advanced degrees, including an MBA from the University of Wisconsin-Madison.

Sonic Foundry has appointed Ken Minor as interim CFO effective March 1, 2021, following Kelsy Boyd's departure for personal reasons. Boyd will assist in a smooth transition until April 2, 2021. Minor, who previously served as CFO from 1997 to 2020, will collaborate closely with CEO Joe Mozden Jr. to guide the company’s financial strategy. Sonic Foundry continues to be a leading provider of video solutions, serving over 5,200 clients globally.

Sonic Foundry (SOFO) reported a strong first quarter for fiscal 2021, ending December 31, 2020, with total revenues rising 14% to $9.2 million compared to $8 million in Q1 2020. Gross margin improved to 74%, and the company achieved a net income of $632,000, a turnaround from a net loss of $820,000 in the previous year. Adjusted EBITDA reached $1.3 million versus a loss of $297,000 in Q1 2020. The company’s recurring revenue equated to 76% of total revenue, while hosting revenue surged by 58%. The outlook remains optimistic with plans to leverage a growing video-centric market.