SOFO · Sonic Foundry Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | $22.11M | $27.47M | $35.17M | $34.75M | $34.78M | $34.54M |
| Cost of Revenue | $9.26M | $8.65M | $10.29M | $9.63M | $9.28M | $9.87M |
| Gross Profit | $12.85M | $18.81M | $24.87M | $25.12M | $25.50M | $24.89M |
| R&D | $11.02M | $7.54M | $7.23M | $6.30M | $7.35M | $7.14M |
| SG&A | $4.99M | $5.93M | $4.87M | $5.05M | $5.93M | $6.35M |
| Total Operating Expenses | $30.26M | $25.74M | $24.07M | $24.38M | $28.01M | $40.93M |
| D&A | $2.27M | $1.30M | $1.26M | $889.0K | $970.0K | $1.12M |
| Operating Income | ($17.41M) | ($6.92M) | $807.0K | $736.0K | ($2.51M) | ($16.04M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $232.0K | ($235.0K) | $15.0K | $148.0K | $90.0K | ($4.33M) |
| Net Income | ($19.35M) | ($7.08M) | $3.08M | ($179.0K) | ($3.61M) | ($12.17M) |
| EPS - Basic | ($1.62) | ($0.72) | $0.37 | ($0.02) | ($0.64) | ($2.67) |
| EPS - Diluted | ($1.62) | ($0.72) | $0.36 | ($0.02) | ($0.64) | ($2.67) |
Balance Sheet
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $840.0K | $3.30M | $9.99M | $7.62M | $4.29M | $1.19M |
| Accounts Receivable | $4.00M | $4.92M | $5.17M | $6.25M | $6.53M | $7.42M |
| Inventory | $1.85M | $1.46M | $442.0K | $1.17M | $558.0K | $1.03M |
| Accounts Payable | $2.09M | $1.90M | $1.07M | $2.69M | $843.0K | $1.61M |
| Current Assets | $8.12M | $11.13M | $17.41M | $16.82M | $12.98M | $10.82M |
| Total Assets | $12.26M | $19.90M | $24.02M | $22.63M | $15.18M | $13.58M |
| Current Liabilities | $20.86M | $13.75M | $14.02M | $18.30M | $13.83M | $16.59M |
| Long-term Debt | - | $356.0K | $556.0K | $2.67M | $5.43M | $1.36M |
| Total Liabilities | $26.00M | $16.32M | $17.88M | $23.68M | $21.43M | $20.04M |
| Stockholders' Equity | ($13.74M) | $3.58M | $6.14M | ($1.05M) | ($6.25M) | ($6.46M) |
| Retained Earnings | ($232.87M) | ($213.53M) | ($206.44M) | ($209.52M) | ($209.34M) | ($207.42M) |
Cash Flow
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($11.32M) | ($5.56M) | $1.25M | $3.34M | ($736.0K) | ($638.0K) |
| Investing Cash Flow | ($2.04M) | ($5.04M) | ($1.48M) | ($1.74M) | ($433.0K) | ($840.0K) |
| Financing Cash Flow | $10.97M | $4.46M | $2.65M | $1.67M | $4.28M | $1.50M |
| CapEx | $550.0K | $2.60M | $1.48M | $1.74M | $433.0K | $840.0K |
| Free Cash Flow | ($11.87M) | ($8.15M) | ($236.0K) | $1.60M | ($1.17M) | ($1.48M) |
Ratios
| Metric | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 58.1% | 68.5% | 70.7% | 72.3% | 73.3% | 72.0% |
| Operating margin | -78.7% | -25.2% | 2.3% | 2.1% | -7.2% | -46.4% |
| EBITDA margin | -68.5% | -20.5% | 5.9% | 4.7% | -4.4% | -43.2% |
| Net margin | -87.5% | -25.8% | 8.7% | -0.5% | -10.4% | -35.2% |
| Free cash flow margin | -53.7% | -29.7% | -0.7% | 4.6% | -3.4% | -4.3% |
| FCF / Net income | 0.61 | 1.15 | -0.08 | -8.97 | 0.32 | 0.12 |
| R&D / Revenue | 49.9% | 27.4% | 20.5% | 18.1% | 21.1% | 20.7% |
| SG&A / Revenue | 22.6% | 21.6% | 13.8% | 14.5% | 17.0% | 18.4% |
| Effective tax rate | - | - | 0.5% | - | - | - |
| Return on assets | -157.8% | -35.6% | 12.8% | -0.8% | -23.8% | -89.6% |
| Return on equity | 140.8% | -198.0% | 50.1% | 17.1% | 57.8% | 188.4% |
| Return on invested capital | - | -139.0% | 12.0% | 35.8% | - | - |
| Liquidity | ||||||
| Current ratio | 0.39 | 0.81 | 1.24 | 0.92 | 0.94 | 0.65 |
| Quick ratio | 0.30 | 0.70 | 1.21 | 0.85 | 0.90 | 0.59 |
| Cash ratio | 0.04 | 0.24 | 0.71 | 0.42 | 0.31 | 0.07 |
| Leverage | ||||||
| Debt / Equity | - | 0.10 | 0.09 | -2.55 | -0.87 | -0.21 |
| Debt / Assets | - | 0.02 | 0.02 | 0.12 | 0.36 | 0.10 |
| Debt / EBITDA | - | - | 0.27 | 1.64 | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | -0.89 | 5.56 | 3.91 | -21.59 | -2.43 | -2.10 |
| Liabilities / Assets | 2.12 | 0.82 | 0.74 | 1.05 | 1.41 | 1.48 |
| Efficiency | ||||||
| Asset turnover | 1.80 | 1.38 | 1.46 | 1.54 | 2.29 | 2.54 |
| Inventory turnover | 4.99 | 5.92 | 23.29 | 8.26 | 16.63 | 9.61 |
| Days sales outstanding | 66d | 65d | 54d | 66d | 69d | 78d |
| Days inventory outstanding | 73d | 62d | 16d | 44d | 22d | 38d |
| Days payable outstanding | 83d | 80d | 38d | 102d | 33d | 60d |
| Cash conversion cycle | 57d | 47d | 31d | 8d | 57d | 57d |
| Valuation | ||||||
| P / E | - | - | 10.6x | - | - | - |
| P / B | - | 3.4x | 5.4x | - | - | - |
| P / S | 0.4x | 0.4x | 0.9x | 0.7x | - | - |
| EV / EBITDA | - | - | 11.3x | 12.1x | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -19.5% | -21.9% | 1.2% | -0.1% | 0.7% | -4.0% |
| Revenue CAGR (3y) | -14.0% | -7.6% | 0.6% | -1.2% | -2.9% | -1.8% |
| Revenue CAGR (5y) | -8.5% | -5.3% | -1.5% | -1.0% | -0.6% | 4.5% |
| Gross profit growth (YoY) | -31.7% | -24.4% | -1.0% | -1.5% | 2.5% | -4.8% |
| Operating income growth (YoY) | -151.4% | - | 9.6% | - | 84.4% | -251.9% |
| Net income growth (YoY) | -173.2% | - | - | 95.0% | 70.3% | -141.4% |
| EPS growth (YoY) | -125.0% | - | - | 96.9% | 76.0% | -128.2% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -45.6% | -3355.1% | - | - | 20.9% | -779.8% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | -41.7% | - | 83.2% | 3.2% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-09-30.
Business segments
$23.88M totalSOFO$18.25M · 76.4%
MSKK$3.58M · 15.0%
SFI$2.05M · 8.6%
Product / service
$40.36M totalService$16.01M · 39.7%
Product And Other$6.10M · 15.1%
Service Hosting$5.31M · 13.2%
Service Support$4.22M · 10.5%
Hardware$3.36M · 8.3%
Service Events$2.61M · 6.5%
Software$1.64M · 4.1%
Service Installs And Training$784.0K · 1.9%
Shipping$320.0K · 0.8%
Geographic
$22.11M totalUS$13.37M · 60.5%
Europe And Middle East$4.37M · 19.8%
Asia$3.68M · 16.7%
Other$693.0K · 3.1%
Stability scores
Altman Z′
FY 2023 · bankruptcy risk
-19.66
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2023 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Radio & Tv Broadcasting & Communications Equipment
Comparing SONIC FOUNDRY INC against the 5 most active filers in the same SIC group.