Synchronoss Technologies(SNCR)

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Synchronoss Technologies(SNCR) - 2024 Q1 - Quarterly Results
2024-05-07 20:34
Exhibit 99.1 Synchronoss Technologies Reports First Quarter 2024 Results Q1 Revenue Grew to $43.0 Million, Surpassing 91% Recurring Revenue GAAP Gross Margin Expands to 67%; Adjusted Gross Margin Rises to 76% Streamlined Operations Improve Profitability with Net Income Increasing by $15.7 Million Year-Over-Year; EPS Improved to $0.23 from $(1.39) in Q1 2023; Adjusted EBITDA Improved 78% to $10.9 Million Company Reaffirms 2024 Guidance BRIDGEWATER, NJ - May 7, 2024 - Synchronoss Technologies Inc. ("Synchrono ...
Synchronoss Technologies(SNCR) - 2023 Q4 - Annual Report
2024-03-25 12:40
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40574 SYNCHRONOSS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 06-1594540 (I. ...
Synchronoss Technologies(SNCR) - 2023 Q4 - Earnings Call Transcript
2024-03-13 01:46
Financial Data and Key Metrics Changes - Gross profit in Q4 increased by 2.5% to $26.5 million, representing 63.9% of total revenue, compared to $25.8 million or 62.5% in the prior year [4] - For the full year, gross profit decreased by 7.6% to $105.8 million, or 64.4% of total revenue, down from $114.5 million or 65.9% in 2022 [4] - Adjusted EBITDA in Q4 increased by 127% to $10 million, accounting for 24.1% of total revenue, compared to $4.4 million or 10.7% in the prior year [52] - Full year adjusted EBITDA rose by 13.5% to $31.4 million, representing 19.1% of total revenue, up from $27.7 million or 15.9% in the prior year [52] - Net loss in Q4 was $35 million or $3.56 per share, compared to a net loss of $15.9 million or $1.66 per share in Q4 2022 [20] Business Line Data and Key Metrics Changes - Cloud revenue in Q4 was $41 million, up 3% year-over-year, representing over 99% of total revenue [32] - Subscriber growth was 9% year-over-year in Q4, with expectations for high single to low double-digit growth in 2024 [30][32] - Quarterly recurring revenue was 88% of total revenue, consistent with 89.5% in Q3 2023 and 81.1% in Q4 2022 [32] Market Data and Key Metrics Changes - The company launched Synchronoss Personal Cloud with SoftBank, which has over 100 million subscribers, expected to provide significant revenue growth [2] - The company anticipates that cloud revenue will comprise 100% of total revenue in 2024 [32] Company Strategy and Development Direction - The company aims to protect and grow its cloud subscriber base, expand its global customer base, and deliver new anchor features [30] - The strategic shift to a dedicated global cloud solutions provider was solidified by the divestiture of Messaging and NetworkX businesses [34] - The company plans to implement cost control measures, reducing annual costs by an additional $15 million for fiscal 2024 [34] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial foundation and growth potential, expecting net cash flow to be at least $10 million for 2024 [38] - The company anticipates GAAP revenue for 2024 to range between $170 million and $175 million, reflecting 5% to 8% growth [38] - Management highlighted the importance of partnerships with Tier 1 customers and the strong pipeline of sales opportunities globally [35] Other Important Information - Cash and cash equivalents increased to $24.6 million at December 31, 2023, from $21.9 million a year earlier [5] - The company has about $28 million in federal tax refund claims included in prepaid assets, with expectations to receive refunds in mid-2024 [5] Q&A Session Summary Question: Can you provide more details on the launch of SoftBank? - The launch of SoftBank's Anshin Data Box has been successful due to their retail-first strategy, leveraging 3,000 points of presence for direct consumer engagement [40] Question: What are the expectations for new customer revenue contributions in 2024? - The company has modest expectations for revenue contributions from new customers in 2024, with potential contracts expected to contribute more significantly in 2025 [41] Question: How will the enhanced service plans affect average ARPU and subscriber growth? - The introduction of enhanced plans allows for tiered service offerings, enabling service providers to differentiate and potentially increase ARPU [42] Question: Will the financial comparisons reflect the elimination of NetworkX revenues? - Yes, future comparisons will reflect the absence of NetworkX and other divested revenues, providing clearer visibility on performance [44][58]
Synchronoss Technologies(SNCR) - 2023 Q3 - Quarterly Report
2023-11-08 21:52
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40574 SYNCHRONOSS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 06-15 ...
Synchronoss Technologies(SNCR) - 2023 Q3 - Earnings Call Transcript
2023-11-08 03:39
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Jeff Miller - President and Chief Executive Officer Lou Ferraro - Chief Financial Officer Conference Call Participants Jon Hickman - Ladenburg Thalmann Aditya Dagaonkar - Northland Capital Markets Operator Good afternoon. Welcome to Synchronoss Technologies Third Quarter 2023 Earnings Conference Call. Joining us today are Synchronoss Technologies President and CEO, Jeff Miller; and ...
業內領先的日本電訊營運商 SoftBank Corp. 部署 Synchronoss 個人雲端
GlobeNewswire· 2023-10-31 02:49
推出由 Synchronoss 個人云端提供支援的 Anshin 數據盒,整合了人工智能功能,使客戶能夠優化、整理和保護照片、影片及其他數碼內容新澤西州,布里奇沃特, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc.(下稱「Synchronoss」或「公司」)(Nasdaq: SNCR) 是在雲端、訊息傳遞以及數碼產品和平台領域的全球領導者和創新企業,其於今日宣布日本最大的電訊營運商之一,SoftBank Corp.(下稱「SoftBank」)已部署 Synchronoss 個人雲端以支撐其 Anshin 數據盒服務。 Anshin 數據盒讓顧客可以備份和還原儲存在手機和其他裝置上的照片、影片和檔案。此外,該平台的人工智能特性具備優化低解像度照片和透過一系列效應和風格化工具創建新類型的能力。 從 11 月起,SoftBank 的 Anshin 數據盒將透過多個分銷通路提供,數據盒每月包含 500 十億字節的儲存空間。此外,個人雲端服務將與新裝置整合,讓顧客可以在入職進程中輕鬆啟用該服務。SoftBank 還將透過其零售商店和數碼購 ...
Synchronoss Technologies(SNCR) - 2023 Q2 - Quarterly Report
2023-08-09 20:26
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40574 SYNCHRONOSS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 06-1594540 ...
Synchronoss Technologies(SNCR) - 2023 Q2 - Earnings Call Transcript
2023-08-08 23:13
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET Company Participants Jeff Miller - President and Chief Executive Officer Lou Ferraro - Chief Financial Officer Operator Good afternoon, and welcome to Synchronoss Technologies Second Quarter 2023 Earnings Conference Call. Joining us today are Synchronous Technologies' President and CEO, Jeff Miller; and CFO, Lou Ferraro. Following their remarks, we will open the call for questions. Then before we conclud ...
Synchronoss Technologies(SNCR) - 2023 Q1 - Earnings Call Transcript
2023-05-09 22:53
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Q1 2023 Earnings Conference Call May 9, 2023 4:30 PM ET Company Participants Jeff Miller - President and Chief Executive Officer Lou Ferraro - Chief Financial Officer Conference Call Participants Operator Good afternoon. Welcome to Synchronoss Technologies First Quarter 2023 Earnings Conference Call. Joining us today are Synchronoss Technologies President and CEO, Jeff Miller; and CFO, Lou Ferraro. Following their remarks, we will open the call for your questions ...
Synchronoss Technologies(SNCR) - 2023 Q1 - Quarterly Report
2023-05-09 20:34
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40574 SYNCHRONOSS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 06-159454 ...