SAN JOSE, Calif., May 20, 2015 /PRNewswire/ -- Sonasoft Corp. (OTCPK: SSFT), a leader in business continuity software solutions and professional services, announced its financial results for its first quarter in fiscal year 2015 (Q1). Sonasoft Corp. posted quarterly revenue of $282,064. Sonasoft's revenue grew by 127 percent when compared to the $124,422 in revenue from the same quarter last year, Q1 2014.
"Sonasoft continues to be on track," said Andy Khanna, President and CEO of Sonasoft. "On March 17, 2015, we announced that our projected topline Q1 revenue was to grow 60 percent from the prior year. After finalizing our numbers, Sonasoft exceeded that estimate and grew by 127 percent from the same quarter in 2014. The company's professional services continued to fuel this growth. We have seen an increase for our Microsoft Exchange Server migration services and for our data export services of competing legacy archive solutions. Demand for our email archiving solutions also remains strong, and we recently announced new features and enhancements to our email archiving software."
"On the operational side," continued Andy Khanna, "Sonasoft is close to completing its two-year audit. As announced on March 6, 2015, Sonasoft plans to uplist to OTCQX of OTC Markets, after this audit is complete. Completion of this two-year audit will allow us to raise more capital to invest back into the company. Sonasoft recently expanded its sales force to include a specialist in the banking sector to increase our market share in this vertical. Similarly, Sonasoft has begun to implement an automated marketing solution to fuel its sales funnel with fresh leads. These initiatives will help sustain the financial momentum in the quarters ahead."
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Sonasoft Corporation is a publicly traded listed on the OTC Markets with the trading symbol SSFT. Sonasoft's core business model includes enterprise-class email archiving, eDiscovery, and business continuity software solutions for Microsoft Business Applications on Microsoft Windows platforms. Sonasoft's signature products for eDiscovery tools, which include SonaVault Email Archiving and eDiscovery Software as well as SonaVault Email Archiving Appliances, deliver affordable enterprise-level functionality that exceeds compliance and ease-of-use requirements of small and medium-sized businesses, governments, school districts, organizations, and enterprises. Sonasoft recently expanded its product offering to include email archiving in the cloud as well as data export and migration services for competing archiving solutions. Sonasoft email archiving and eDiscovery solutions have hundreds of deployments with an exceptional degree of high customer satisfaction. Founded in 2003, the company is headquartered in San Jose, California.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
SOURCE Sonasoft Corporation