Coming into today, shares of the mobile services company had lost 26.47% in the past month. In that same time, the Computer and Technology sector gained 8.85%, while the S&P 500 gained 3.59%. It's also important for investors to be aware of any recent modifications to analyst estimates for Synchronoss. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. With respect t ...

Synchronoss (SNCR) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Revisions to Earnings Estimates For the current quarter, Synchronoss is expected to post earnings of $0.07 per share, indicating a change of +125.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. With an impressive externally audited track record, our proprietary stock ...

About Synchronoss Investor Relations Contact: Tom Colton and Alec Wilson Gateway Group, Inc. SNCR@gateway-grp.com Synchronoss granted the newly hired Japan Country Manager an aggregate of 15,000 time-based restricted stock awards. The shares of restricted stock will vest 1/3rd on the first, second, and third anniversary of the grant date, subject to continuous service after the first and second vesting. In addition, the employee received an aggregate of 5,000 time-based stock option awards. The Stock Option ...

BRIDGEWATER, N.J., May 29, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. ("Synchronoss" or the "Company") (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, is pleased to announce that Junji Nishara has been appointed as the new Country Manager for Japan operations, effective May 15, 2024. Synchronoss, which has operated in Japan for over 20-years, announced on November 1, 2023, that it will focus on its Cloud business following the sale of its Messaging and NetworkX busine ...

BRIDGEWATER, N.J., May 29, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. ("Synchronoss" or the "Company") (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, is pleased to announce that Junji Nishara has been appointed as the new Country Manager for Japan operations, effective May 15, 2024. Synchronoss, which has operated in Japan for over 20-years, announced on November 1, 2023, that it will focus on its Cloud business following the sale of its Messaging and NetworkX busine ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Synchronoss (SNCR) . Synchronoss currently has an average broker ...

Synchronoss (SNCR) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this mobile services company have returned +43.5%, compared to the Zacks S&P 500 composite's +4.2% change. During this period, the Zacks Internet - Software industry, which Synchronoss falls in, has gained 3.8%. The key question now is: What could be the stock's futur ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, inves ...

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, 2024 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) (State or other ju ...

Financial Data and Key Metrics - Q1 2024 total revenue increased to $43 million, with recurring revenue representing 91% of total revenue, up from 88% in Q4 2023 and 87.9% in Q1 2023 [44][60] - Gross profit in Q1 increased 5.1% to $28.7 million, representing 66.9% of total revenue, compared to $27.3 million or 65% in the prior year period [66] - Q1 income from operations was $4.6 million, a significant improvement from a loss of $2 million in the prior year period, driven by revenue growth and expense management [8] - Adjusted EBITDA improved 78% year-over-year to $10.9 million, representing 25.4% of total revenue, up from $6.1 million or 14.5% in the prior year period [45] - Net income in Q1 was $2.3 million or $0.23 per share, a significant improvement compared to a loss of $13.4 million or $1.39 per share in Q1 2023 [40][45] - Cash and cash equivalents were $19.1 million at March 31, 2024, compared to $24.6 million at December 31, 2023 [24] - Free cash flow improved to negative $3.3 million in Q1, an improvement from negative $4.2 million in the same period last year [24] Business Line Data and Key Metrics - Cloud subscriber base now exceeds 10 million, with year-over-year growth of approximately 7% in Q1 [3][23] - Quarterly recurring revenue was 91.1% of total revenue, up from 88% in Q4 2023 and 87.9% in Q1 2023 [44] - The company expects cloud subscriber growth to continue in the high single-digit to low double-digit range throughout 2024 [10][23] - The successful rollout of the Anshin Data Box with SoftBank extends the company's global footprint and solidifies its role in driving cloud subscriber growth [62] Market Data and Key Metrics - The company's long-term contract with Verizon, extending through 2030, highlights the stability of its revenue, with 75% of total revenues secured under contracts of at least four years [41] - The addition of SoftBank, with over 100 million subscribers, offers a significant base to continue building upon the current growth trajectory [41] - The company is progressing discussions across various markets, including with global network operators and telecom providers [64] Company Strategy and Industry Competition - The company's transition to a cloud-only business model and cost optimization efforts following the divestiture of noncore businesses in Q4 2023 have driven financial gains [2][7] - The company's three main strategic priorities are: protecting and growing the cloud subscriber base, leading with innovative technology, and expanding the global customer base [38] - The introduction of auto scaling has significantly reduced compute expenses by over 50% for one customer, enhancing operational and financial efficiency [42] - The company is focused on integrating its solutions into customers' account applications, such as My Verizon or My AT&T, to foster increased user engagement with cloud offerings [43] Management Commentary on Operating Environment and Future Outlook - The company expects to achieve at least $10 million in net cash flow for 2024, driven by the superior revenue-to-cash conversion capabilities of its standalone cloud business [10][18] - The company anticipates further improvements in free cash flow generation in 2025, as it enhances revenue-to-cash conversion [18] - The company remains confident in achieving its GAAP revenue guidance of $170 million to $175 million for 2024, representing 5% to 8% year-over-year growth [47] - Adjusted EBITDA guidance for 2024 remains consistent at $42 million to $45 million, aligning with the targeted margin range [47] Other Important Information - The company made its final payment to the SEC related to the financial restatement completed in 2018, which is expected to increase 2024 cash flow by $4.8 million [67] - The company expects to receive a $28 million tax refund in the second half of 2024, which it plans to use to further pay down outstanding debt [25][73] Q&A Session Summary Question: What gross margin number can be expected for the year? - The company expects gross margins to be in the 75%-plus range for 2024, based on Q1 performance [49] Question: What is the expected ARPU for the rest of the year? - The company expects ARPU to remain consistent with past performance, contributing to continuous revenue growth [51] Question: What strategies are being pursued to decrease the cost of the capital structure? - The company is evaluating the use of the $28 million tax refund to pay down debt and is looking at other strategic moves to improve the capital structure [53][73] Question: What gives confidence that 2025 free cash flow will be higher than 2024? - Drivers include expected revenue growth, lower expenses, and reduced legal costs related to the financial restatement [74][75]