BRIDGEWATER, N.J., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, today announced a three-year contract extension with a leading U.S. telecom provider. Synchronoss Personal Cloud™ enables the provider to deliver cloud offerings for users to securely backup, manage, and share content across smartphones, devices, and the cloud. “We’re proud of our long-standing relationship with this k ...

Synchronoss Technologies (SNCR) shares have surged 44.2% in the year-to-date (YTD) period compared with the Zacks Internet - Software industry’s return of 25.2% and the broader Zacks Computer & Technology sector’s appreciation of 25.8%.SNCR has outperformed its peers, such as Alphabet (GOOGL) and Dropbox (DBX) , which also offer personal cloud services integrated with its respective platforms.Alphabet has returned 23.5% YTD, whereas Dropbox has lost 8.2% over the same time frame.  The outperformance can be ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Long-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, the competitive dynamics of the industries where they participate, and buying companies that we would like to hold independently of how the price moves in the future. Most QC calls will be holds, and that is by design. Only a very sm ...

Synchronoss Technologies (SNCR) reported a non-GAAP loss of 26 cents per share in the third quarter of 2024. This lagged the Zacks Consensus Estimate for earnings of 25 cents. SNCR had reported earnings of 35 cents in the year-ago quarter.Net revenues of $43 million increased 8% year over year and missed the Zacks Consensus Estimate by 0.79%.Following the results, SNCR shares fell 4.65% in the pre-market trading. However, Synchronoss’ stock has gained 78.3% against the Zacks Computer and Technology sector’s ...

Synchronoss (SNCR) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of $0.25. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -204%. A quarter ago, it was expected that this mobile services company would post earnings of $0.07 per share when it actually produced earnings of $0.48, delivering a surprise of 585.71%.Over the last four quarters, the company ha ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Revenue Performance - Net revenues increased by $3.2 million to $43.0 million for the three months ended September 30, 2024, compared to the same period in 2023, primarily due to continued cloud subscriber growth [166]. - Net revenues increased by $6.6 million to $129.4 million for the nine months ended September 30, 2024, compared to the same period in 2023, driven by continued cloud subscriber growth [177]. Cost Management - Cost of revenues decreased by $0.5 million to $9.0 million for the three months ended September 30, 2024, attributed to reduced baseline employee costs from restructuring measures [167]. - Cost of revenues decreased by $2.3 million to $29.6 million for the nine months ended September 30, 2024, primarily due to reduced employee costs from restructuring measures [178]. - Selling, general and administrative expenses decreased by $6.5 million to $13.8 million for the three months ended September 30, 2024, primarily due to reduced employee costs from restructuring [169]. - Selling, general and administrative expenses decreased by $13.7 million to $39.8 million for the nine months ended September 30, 2024, compared to the same period in 2023 [180]. - Research and development expenses increased by $1.0 million to $10.3 million for the three months ended September 30, 2024, mainly due to higher performance-based compensation expenses [168]. - Research and development expenses decreased by $2.8 million to $32.6 million for the nine months ended September 30, 2024, attributed to reduced baseline employee costs from restructuring [179]. - Restructuring charges were $0.3 million for the nine months ended September 30, 2024, down from $0.4 million in the same period in 2023 [181]. Interest and Tax Expenses - Interest expense increased by $2.0 million for the three months ended September 30, 2024, mainly due to interest related to a new Term Loan obtained [172]. - Interest expense increased by $2.1 million for the nine months ended September 30, 2024, primarily due to $2.2 million related to a new Term Loan [183]. - The effective tax rate was approximately (12.3)% for the three months ended September 30, 2024, lower than the U.S. federal statutory rate due to permanent adjustments [174]. - Income tax expense was approximately $3.9 million for the nine months ended September 30, 2024, with an effective tax rate of approximately 178.6% [185]. - Unrecognized tax benefits associated with uncertain tax positions were $4.4 million at September 30, 2024 [200]. Cash Flow and Financial Position - Cash provided by operating activities was $15.2 million for the nine months ended September 30, 2024, down from $19.2 million in the same period in 2023 [193]. - Cash used in investing activities was $9.1 million for the nine months ended September 30, 2024, compared to $15.9 million in the same period in 2023 [194]. - Cash used in financing activities was $5.4 million for the nine months ended September 30, 2024, down from $7.5 million in the same period in 2023 [196]. - As of September 30, 2024, the cash and cash equivalents balance was $25.2 million, with non-U.S. subsidiaries holding approximately $13.9 million [188]. - As of September 30, 2024, a hypothetical 100 basis point movement in interest rates would have affected interest expense on the debt by $0.8 million annually [213]. Customer Concentration - The Company's top five customers accounted for 97.9% of net revenues for the nine months ended September 30, 2024, indicating a high customer concentration risk [162]. Depreciation and Amortization - Depreciation and amortization expense increased by $0.3 million to $12.8 million for the nine months ended September 30, 2024, compared to the same period in 2023 [182].

BRIDGEWATER, N.J., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in Personal Cloud platforms, today announced that Jeff Miller, President and CEO, and Louis Ferraro, CFO, will participate at two upcoming investor conferences. Sidoti November Virtual Investor Conference on November 13, 2024. The presentation will begin at 10:00 AM ET and the webcast link will be available on the Synchronoss Investor Relations web ...

8 Synchronoss Personal Cloud , Nov. 13, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. ( "Synchronoss" "") (NASDAQ: SNCR) 2700 Synchronoss Personal Cloud Synchronoss Personal Cloud Synchronoss Personal Cloud (AI) Synchronoss (CEO) Jeff Miller " AI (ARPU) " (OTT) Synchronoss Personal Cloud ARPU Synchronoss Synchronoss Technologies (NasdaqSNCR) SaaS Synchronoss www.synchronoss.com Domenick Cilea Springboard dcilea@springboardpr.com Ryan Gardella Synchronoss SNCRIR@icrinc.com ...