Bekanntmachung • Feb 17
Sonic Foundry, Inc. announced delayed 10-Q filing On 02/16/2024, Sonic Foundry, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Bekanntmachung • Feb 16
The Nasdaq Stock Market to Delist the Common Stock of Sonic Foundry The Nasdaq Stock Market announced on February 13, 2024, that it will delist the common stock of Sonic Foundry, Inc. Sonic Foundry's securities were suspended on December 5, 2023, and have not traded on Nasdaq since that time. Bekanntmachung • Feb 10
Enghouse Systems Limited (TSX:ENGH), Enghouse (Netherlands) Holding B.V., Enghouse Holdings (Uk) Limited and Enghouse Interactive Inc. completed the acquisition of MediaSite K.K. and Sonic Foundry International B.V. and Assets of MediaSite business from Sonic Foundry, Inc. (OTCPK:SOFO) and Sonic Foundry Media Systems, Inc. Enghouse Systems Limited (TSX:ENGH), Enghouse (Netherlands) Holding B.V., Enghouse Holdings (Uk) Limited and Enghouse Interactive Inc. entered into a definitive agreement to acquire MediaSite K.K. and Sonic Foundry International B.V. and Assets of MediaSite business from Sonic Foundry, Inc. (OTCPK:SOFO) and Sonic Foundry Media Systems, Inc. for $15.5 million on January 2, 2024. As consideration for the Mediasite Asset Sale, the Buyer has agreed to pay the Sellers $14.5 million in cash at closing, subject to adjustment as set forth in the Purchase Agreement, and pay the Sellers a holdback amount of $1.0 million on the one year anniversary of closing to the extent such amount is not reduced by purchase price adjustments or indemnity or other claims under the Purchase Agreement. If the Sellers or the Buyer terminate the Purchase Agreement under specified circumstances, the Sellers will be obligated to pay the Buyer a termination fee of $450,000. The Purchase Agreement also provides that if the Buyer terminates the Purchase Agreement due to the Company's failure to obtain the required approval of its stockholders, the Company will be obligated to pay the Buyer a termination fee of $100,000. As of December 31, 2023 from Sonic Foundry, Inc reported revenue of $22.1 million, adjusted EBITA loss of $10.3 million and total net loss of $19.3 million. Closing of the transaction is subject to approval by Sonic Foundry shareholders and certain customary closing conditions. Sonic Foundry's board of directors has approved the transaction. The transaction is expected to be completed during the first quarter of 2024. Benjamin G. Lombard of Reinhart Boerner Van Deuren s.c. acted as legal advisor to Sonic Foundry, Inc. Ian M. Hazlett acted as legal advisor to Enghouse Systems Limited. Ian M. Hazlett of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Enghouse Systems Limited.
Enghouse Systems Limited (TSX:ENGH), Enghouse (Netherlands) Holding B.V., Enghouse Holdings (Uk) Limited and Enghouse Interactive Inc. completed the acquisition of MediaSite K.K. and Sonic Foundry International B.V. and Assets of MediaSite business from Sonic Foundry, Inc. (OTCPK:SOFO) and Sonic Foundry Media Systems, Inc. on February 9, 2024. Bekanntmachung • Jan 05
Enghouse Systems Limited (TSX:ENGH) entered into a definitive agreement to acquire Mediasite business from Sonic Foundry, Inc. (OTCPK:SOFO) for $15.5 million. Enghouse Systems Limited (TSX:ENGH) entered into a definitive agreement to acquire Mediasite business from Sonic Foundry, Inc. (OTCPK:SOFO) for $15.5 million on January 2, 2024. As of December 31, 2023 from Sonic Foundry, Inc reported revenue of $22.1 million, adjusted EBITA loss of $10.3 million and total net loss of $19.3 million. Closing of the transaction is subject to approval by Sonic Foundry shareholders and certain customary closing conditions. The transaction is expected to be completed during the first quarter of 2024. Bekanntmachung • Dec 30
Sonic Foundry, Inc. announced delayed annual 10-K filing On 12/29/2023, Sonic Foundry, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Bekanntmachung • Dec 06
Sonic Foundry, Inc. to Report Q4, 2023 Results on Dec 21, 2023 Sonic Foundry, Inc. announced that they will report Q4, 2023 results on Dec 21, 2023 New Risk • Nov 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$14m free cash flow). Negative equity (-US$10m). Market cap is less than US$10m (US$5.74m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$17m net loss next year). Share price has been volatile over the past 3 months (9.9% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Bekanntmachung • Nov 01
Sonic Foundry, Inc.'S Vidable®? Launches AI Video Platform Sonic Foundry, Inc. announced that its Vidable®? brand, which uses AI-powered solutions to turn video libraries into dynamic knowledge bases, has launched its product offering - a secure platform designed to accelerate the distribution of high-quality content and improve the usability and value of enterprise video libraries. The exponential growth of enterprise video libraries, fueled by the widespread adoption of videoconferencing and the proliferation of user-friendly recording tools has presented both opportunities and challenges for organizations. While it's easier than ever to create and store video, extracting the full value of that content and ensuring that it functions efficiently as a knowledge resource can be a formidable task, leaving many organizations sitting on a great deal of latent value in their video libraries. This applies across the landscape of enterprise organizations, from healthcare and financial services to manufacturing and events. The Vidable platform incorporates three key AI-powered features - Assistant, Insights, and Transformations - each designed to address a different set of challenges associated with managing large enterprise video libraries. Vidable Assistant empowers content owners and viewers with real-time support, search, and content generation capabilities through a conversational interface. Vidable Insights uses AI to analyze the speech, text, and other visual elements within a video to produce quickly digestible content metrics and other data assets via a customizable analytics dashboard. Vidable Transformations offer automated content enhancement capabilities to improve the production quality and accessibility of video. The entire platform was designed to support modern organizations' data security and confidentiality needs by focusing Vidable AI on specific data sets (e.g., one organization's video library). Vidable will not expose organizations' data to external sources or training models and does not interact with open-source internet content. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$23.8m to US$22.3m. Losses expected to increase from US$1.37 per share to US$1.70. Software industry in the US expected to see average net income growth of 15% next year. Consensus price target down from US$3.00 to US$2.00. Share price was steady at US$0.79 over the past week. Reported Earnings • Aug 13
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$0.65 loss per share (further deteriorated from US$0.14 loss in 3Q 2022). Revenue: US$5.78m (down 11% from 3Q 2022). Net loss: US$7.87m (loss widened 423% from 3Q 2022). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 67%. Revenue is forecast to grow 46% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. New Risk • Jul 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.93m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Negative equity (-US$2.3m). Market cap is less than US$10m (US$9.93m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Bekanntmachung • Jul 13
Sonic Foundry Provide Nasdaq Compliance Update On January 6, 2023, Sonic Foundry, Inc. (the “Company”) was notified by the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC (“Nasdaq”) that the bid price of its common stock had closed at less than $1 per share over the previous 30 consecutive business days, and as a result, did not comply with Listing Rule 5550(a)(2) (the “Rule”). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until July 5, 2023, to regain compliance with the Rule. On July 6, 2023, the Company was notified by Nasdaq that it had not regained compliance with the Rule and is not eligible for a second 180 day period. Additionally, on February 14, 2023, the Staff notified the Company that it failed to comply with Nasdaq’s $2,500,000 minimum stockholders’ equity requirement for continued listing and, as of that date, the Company did not meet the alternative requirements of market value of listed securities or net income from continuing operations as set in Listing Rule 5550(b). In that regard, the Company submitted its plan to regain compliance and was granted an extension until July 14, 2023. However, pursuant to Listing Rule 5810(d)(2), this deficiency serves as an additional and separate basis for delisting, and as such, the Staff notified the Company that it should address this concern before a Hearings Panel if it appeals the Staff’s determination. Accordingly, unless the Company requests an appeal of this determination, the Staff has determined that the Company’s common stock will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on July 17, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s common stock from listing and registration on The Nasdaq Stock Market. The Company does intend to appeal Staff’s determination to a Hearings Panel (the “Panel”), pursuant to the procedures set in the Nasdaq Listing Rule 5800 Series, which must be submitted electronically no later than July 13, 2023. A hearing request will stay the suspension of the Company’s common stock and the filing of the Form 25-NSE pending the Panel’s decision. Bekanntmachung • Jun 17
Sonic Foundry’s Vidable™ Announces Plans for New Offering of Events-Focused AI Solutions Sonic Foundry, Inc. announced that its Vidable business, which offers AI-powered analytics and transformation solutions for video, will partner with its Video Solutions business to develop an offering focused on supporting the events market. As of June 2023, Vidable has initiated and sold transactions representing over a million hours of AI transformations for enterprise video. It has also begun expanding its business outside the U.S. with the establishment of a GDPR-compliant instance of Vidable in the E.U. New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$15m free cash flow). Negative equity (-US$2.3m). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (US$12.5m market cap). Reported Earnings • May 13
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: US$0.28 loss per share (further deteriorated from US$0.15 loss in 2Q 2022). Revenue: US$5.74m (down 21% from 2Q 2022). Net loss: US$3.38m (loss widened 153% from 2Q 2022). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$28.1m to US$25.5m. Losses expected to increase from US$1.05 per share to US$1.35. Software industry in the US expected to see average net income growth of 9.3% next year. Consensus price target of US$3.00 unchanged from last update. Share price fell 5.7% to US$0.82 over the past week. Bekanntmachung • Feb 20
Sonic Foundry Receives Non-Compliance Letter from Nasdaq On February 14, 2023, Sonic Foundry, Inc. was notified by The Nasdaq Stock Market LLC that it is not in compliance with the requirement to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Since its Form 10-Q for the period ended December 31, 2022, reported stockholders’ equity of $922,000, and as of February 10, 2023, the Company does not meet the alternatives of market value of listed securities or net income, as set forth in Nasdaq Listing Rule 5550(b)(1), the Company no longer complies with the Rule. In accordance with Nasdaq Listing Rules, the Company has 45 calendar days to submit a plan to regain compliance. Following receipt, Nasdaq will provide the Company written notice of their decision. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the letter. Reported Earnings • Feb 10
First quarter 2023 earnings released: US$0.38 loss per share (vs US$0.17 loss in 1Q 2022) First quarter 2023 results: US$0.38 loss per share (further deteriorated from US$0.17 loss in 1Q 2022). Revenue: US$5.01m (down 31% from 1Q 2022). Net loss: US$4.39m (loss widened 187% from 1Q 2022). Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Bekanntmachung • Jan 27
Sonic Foundry, Inc., Annual General Meeting, Mar 10, 2023 Sonic Foundry, Inc., Annual General Meeting, Mar 10, 2023, at 09:00 Central Standard Time. Agenda: To elect one director to hold office for the term set forth herein and until his successor is duly elected and qualified; to consider and approve, by a non-binding advisory vote, of the compensation paid by Sonic to its named executive officers; to ratify the appointment of Wipfli LLP as our independent auditors for the fiscal year ending September 30, 2023; and to consider other matters if any. Bekanntmachung • Jan 12
Nasdaq Notifies Sonic Foundry Regarding Non-Compliance with the Requirement to Maintain A Minimum Closing Bid Price On January 6, 2023, Sonic Foundry, Inc. ("the Company") was notified by The Nasdaq Stock Market LLC ("Nasdaq") that it is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set in Nasdaq Listing Rule 5550(a)(2), because the closing bid price of the Company's common stock (the Common Stock") was below $1.00 per share for 30 consecutive business days. The notification does not impact the listing of the Common Stock on The Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until July 5, 2023, to regain compliance with the minimum bid price requirement. During this period, the Common Stock will continue to trade on The Nasdaq Capital Market. If at any time before July 5, 2023, the bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with this minimum bid price requirement. In the event the Company does not regain compliance by July 5, 2023, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify for the additional 180-day period, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Common Stock. Major Estimate Revision • Dec 15
Consensus revenue estimates fall by 26% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from US$38.0m to US$28.1m. Forecast losses increased from -US$0.29 to -US$1.05 per share. Software industry in the US expected to see average net income growth of 13% next year. Consensus price target down from US$5.00 to US$3.00. Share price rose 2.2% to US$0.94 over the past week. Reported Earnings • Dec 10
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: US$0.71 loss per share (down from US$0.37 profit in FY 2021). Revenue: US$27.5m (down 22% from FY 2021). Net loss: US$7.08m (down 330% from profit in FY 2021). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 17
Price target decreased to US$5.00 Down from US$13.45, the current price target is provided by 1 analyst. New target price is 400% above last closing price of US$1.00. Stock is down 71% over the past year. The company is forecast to post a net loss per share of US$0.76 compared to earnings per share of US$0.37 last year. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Bill Lawrence was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Nov 04
Sonic Foundry, Inc. Launches Video Solutions Sonic Foundry, Inc. announced the launch of Video Solutions, anew business unit that will provide comprehensive video services to enterprise and events customers. Video Solutions incorporates many of the services previously offered under the umbrella of Sonic Foundry’s Mediasite® Events brand with a variety of additional enterprise-facing services. These include fast, scalable editing tools, video distribution solutions, easy integration into any video management platform, and concierge-quality service from dedicated project managers. In today’s enterprise environment, video is no longer a nice-to-have—it’s a necessity. Enterprise video libraries have grown in both volume and variety, putting pressure on marketing and operations professionals who are managing video in ways they never expected. And while there’s no shortage of platforms and tools available for organizations to utilize when creating and managing video content, the abundance of resources can easily become overwhelming, and too often, video libraries wind up consuming storage rather than creating value. Video Solutions addresses these challenges by providing a streamlined, all-in-one source for video capture, management, and distribution solutions, as well as the support necessary to coordinate and execute a comprehensive video strategy. No matter what challenges an organization is facing when it comes to their video strategy and infrastructure, Video Solutions will meet them where they are and provide the strategic lens and tactical know-how they need to achieve their goals. If the goal is to achieve maximum impact with anew video initiative, Video Solutions project managers can help to design a customized distribution and engagement strategy to ensure that you and your audience get maximum value from the content you produce. On the other hand, if the goal is to improve operational efficiency, Video Solutions technicians can integrate innovative workflows and state-of-the-art capabilities into your existing technology stack and video tools, including: On-site and remote capture solutions AI-supported editing capabilities Custom platform integrations Pre- and post-production support Advanced analytics. Reported Earnings • Aug 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: US$0.14 loss per share (down from US$0.33 profit in 3Q 2021). Revenue: US$6.47m (down 25% from 3Q 2021). Net loss: US$1.50m (down 157% from profit in 3Q 2021). Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Over the next year, revenue is forecast to grow 20%, compared to a 18% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Jul 28
Sonic Foundry, Inc. Announces Organizational Changes Sonic Foundry, Inc. announced new organizational changes in support of its ongoing transition to a high-growth, multi-brand enterprise. Effective immediately, Duane Glader, formerly Senior Vice President for Sales, will serve as General Manager of Operations, Sales, and Business Development for Sonic Foundry’s new Global Learning Exchange™ (GLX) business. GLX will provide students around the world with cost-effective access to top-quality higher education programs coupled with local support resources including mentoring and career development opportunities. Earlier this month, GLX celebrated the Grand Opening of its inaugural Hub facility in the Bahamas. Glader’s appointment completes Sonic Foundry’s vision for a new corporate structure that will support its three business lines—Mediasite, Vidable™, and Global Learning Exchange™—under the direction of a single, highly experienced General Manager for each business unit. As previously announced, Mike Snavely will serve as GM of Vidable™ and Rob Lipps will continue to serve as GM of Mediasite. This new structure will leverage a combination of shared services and dedicated resources for each of its three business lines and represents an evolution from focusing on its Mediasite brand to expanding and supporting a family of brands. The company also announced that its Mediasite Events business will expand and diversify its scope of client offerings to include custom integrations, scalable editing and enhancement solutions, production management, and other events-adjacent video services. Board Change • Jul 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Bill Lawrence was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Jul 09
Sonic Foundry, Inc. Announces Resignation of Taha Jangda as Member of Board of Directors, Effective July 15, 2022 Sonic Foundry, Inc. announced Taha Jangda, a member of the board of directors of the company since April 2021, notified the company of his intention to resign from the board of directors effective July 15, 2022. Mr. Jangda’s decision was not related to any disagreement with the company on any matter relating to the company’s operations, policies or practices. Reported Earnings • May 13
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$0.15 loss per share (down from US$0.032 profit in 2Q 2021). Revenue: US$7.24m (down 17% from 2Q 2021). Net loss: US$1.34m (down US$1.59m from profit in 2Q 2021). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 191%. Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$2.58, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 36x in the Software industry in the US. Total returns to shareholders of 195% over the past three years. Bekanntmachung • Apr 14
Sonic Foundry, Inc. has completed a Follow-on Equity Offering in the amount of $4.335 million. Sonic Foundry, Inc. has completed a Follow-on Equity Offering in the amount of $4.335 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,700,000
Price\Range: $2.55 Bekanntmachung • Apr 13
Sonic Foundry, Inc. Begins Construction on First Global Learning Exchange™ Hub in the Bahamas Sonic Foundry, Inc. announced critical first steps in the launch of Global Learning Exchange™, an innovative solution to provide students worldwide with access to higher education in flexible, cost effective, locally supported environments. Earlier this month, Sonic Foundry began construction of its first-of-its-kind Global Learning Exchange™ hub in the Bahamas. Conveniently located in central Nassau and scheduled for completion in July 2022, the facility will provide students with an unprecedented level of support relative to other online learning solutions – including in-person admissions and enrollment assistance, a positive study environment, tutoring, and other academic resources – while also serving as a hub for social and collaborative learning activities. No remote learning program in today’s higher-education market currently offers students the combination of online classes and locally supported resources. Additionally, Sonic Foundry is in the process of securing agreements to provide students with a wide variety of public and private university choices from around the world. As of April 12, 2022, the company has MOUs in place with five universities in the US, UK, and Australia, which it intends to move to contract this spring. In the months ahead, Global Learning Exchange™ will focus on partner-led hub development projects in a number of emerging global markets. This disruptive model will provide unprecedented levels of access, choice, and support – as well as relevant local pricing - to students in many countries where demand for higher education is rapidly growing amid constrained enrollment opportunities. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 28% share price gain to US$3.80, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 37x in the Software industry in the US. Total returns to shareholders of 246% over the past three years. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$3.02, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 40x in the Software industry in the US. Total returns to shareholders of 154% over the past three years. Reported Earnings • Feb 12
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: US$0.17 loss per share (down from US$0.079 profit in 1Q 2021). Revenue: US$7.25m (down 21% from 1Q 2021). Net loss: US$1.53m (down 342% from profit in 1Q 2021). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) exceeded analyst estimates by 191%. Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Jan 30
Sonic Foundry, Inc., Annual General Meeting, Mar 10, 2022 Sonic Foundry, Inc., Annual General Meeting, Mar 10, 2022. Agenda: To elect one director to hold office for the term set forth herein and until his successor is duly elected and qualified; to vote on a Proposal to amend the 2020 Equity Incentive Plan to increase the number of shares of common stock subject to the plan from 1,000,000 to 2,000,000; to ratify the appointment of Wipfli LLP as its independent auditors for the fiscal year ending September 30, 2022; to ratify the appointment of Wipfli LLP as its independent auditors for the fiscal year ending September 30, 2022; to transact such other business as may properly come before the meeting or any adjournments thereof. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improved over the past week After last week's 15% share price gain to US$3.75, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 41x in the Software industry in the US. Total returns to shareholders of 188% over the past three years. Board Change • Jan 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Taha Jangda was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Mar 04
Sonic Foundry, Inc. Appoints Ken Minor Interim CFO Sonic Foundry, Inc. appointed long-standing former employee Ken Minor, who served as Sonic Foundry CFO from 1997 to 2020, as interim CFO. Minor will work closely with CEO Joe Mozden Jr. to oversee Sonic Foundry's financial strategy. Bekanntmachung • Mar 03
Sonic Foundry, Inc. Announces Resignation of Kelsy Boyd as Chief Financial Officer Sonic Foundry announced that Kelsy Boyd, the company’s Chief Financial Officer, has chosen to step away from the business for personal reasons. Bekanntmachung • Jan 31
Sonic Foundry, Inc. announced delayed annual 10-K filing On 01/29/2021, Sonic Foundry, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Bekanntmachung • Jan 14
Sonic Foundry Names Two Senior Vice Presidents Sonic Foundry announced the appointment of two new senior vice presidents. These new positions support the company’s efforts to create new revenue streams, open new market share, and increase customer satisfaction and report directly to CEO Joe Mozden Jr. Steve McKee is SVP Product & Technology where he leads the company’s product development efforts, ensuring the Mediasite solutions brought to the current and new markets continue to meet industry demands. McKee brings over 30 years of experience in product and operations leadership for fast-growing technology organizations. His most recent role was Head of Product at Gloo, a SaaS company that uses technology to accelerate the growth of the digital church and transform personal growth in churches and other social service organizations. Prior, he served as SVP of Marketing Platforms at Wiland, a marketing intelligence firm and VP, Marketing Technology Group at Merkle, Inc., a global customer experience management company. Duane Glader is SVP Sales & Marketing, leading the company’s North American sales and global marketing efforts. He comes from DeVry University where he served as Senior Director Strategic Accounts for the past four years. A business growth senior sales leader, Glader has a track record in Fortune 1000 B2B sales, key account management and emerging markets. Prior, he served as Director of Business Development at Colorado Technical University where he led the national sales team. Bekanntmachung • Dec 02
Sonic Foundry, Inc., Annual General Meeting, Jan 28, 2021 Sonic Foundry, Inc., Annual General Meeting, Jan 28, 2021. Bekanntmachung • Oct 29
Sonic Foundry's Mediasite Events Announces New Complete Virtual Event Platform Sonic Foundry's Mediasite Events announces a new complete virtual event platform for a video-first world. No two events are the same, and the Mediasite Events team is custom-building virtual worlds for organizations and schools of all sizes for a flexible, scalable and engaging experience, despite distance. The team, which has more than 15 years of experience creating dynamic online events all over the globe, is providing white glove services without the need for travel. The virtual event platform includes everything from a customizable event website with live or simulated live session streaming, content catalogues, e-commerce options for sponsors, virtual expo halls, e-poster sessions, interactive features like live chat and polling and more. With Mediasite Events' complete virtual platform users can: Expand reach with live (or simulated live) streaming: Mediasite Events streams all sessions – keynotes, e-posters, etc. – and promotes interaction among attendees. Mediasite Events is powered by the award-winning Mediasite Video Platform that is used by more than 5,200 schools, corporations, and healthcare organizations around the world. A Mediasite Events technician works with each speaker via a virtual speaker ready room and handles all technical aspects throughout the entire presentation to ensure a smooth experience for the conference presenters. Give attendees engaging content: Speakers present from anywhere via Zoom, and attendees watch and interact with the stream, either live, in a simulated live or on-demand, from anywhere in a secure and robust Mediasite player. Capturing and delivering the content via Mediasite means viewers can benefit from a livelier experience with several feeds – they can see both the speaker and presentation materials in two large windows. Viewers can benefit from closed captions, interactive features like live chat, polls and speaker Q&A, and a robust search field that searches individual videos or entire video libraries to find exact moments. Plus, in a virtual setting, presenters can be more engaged with audiences by watching their pre-recorded sessions together with viewers and answering questions in real time. Recreate the in-person networking audiences expect: Virtual attendees can feel like they are still receiving the conference experience with a customized website that looks like a convention center – a welcome lobby with clickable banners, signage and exhibitor logos. From dynamic virtual expo halls to interactive features, attendees are immersed in an engaging online experience. Transform revenue with e-commerce: E-commerce options let organizers generate additional revenue with tiered sponsorships. Sponsors can share embedded promo videos, ads and company information to connect with attendees. Plus, they will receive more qualified leads than ever before in this new environment.