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].

Group 1 - Synchronoss Technologies Inc. announced participation in two upcoming investor conferences, highlighting its commitment to engaging with investors [1][2] - The Sidoti November Virtual Investor Conference is scheduled for November 13, 2024, with a presentation starting at 10:00 AM ET [2] - The Northland Growth Conference will take place on December 12, 2024, offering opportunities for one-on-one meetings with management [2] Group 2 - Synchronoss is recognized as a global leader in personal Cloud solutions, providing service providers with tools to create secure connections with subscribers [3] - The company's SaaS Cloud platform enhances onboarding processes and subscriber engagement, leading to increased revenue, reduced costs, and quicker market entry [3] - Millions of subscribers rely on Synchronoss to protect their valuable digital content and memories [3]

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 ...

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 ...

Synchronoss (SNCR) is set to report its third-quarter 2024 results on Nov. 12.The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $43.31 million, indicating a decline of 22.18% year over year. The consensus mark for earnings is currently pegged at 25 cents per share, unchanged over the past 30 days. The figure indicates a 44.44% decrease from the year-ago quarter’s reported figure.SNCR’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing onc ...

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 brokerag ...

Synchronoss (SNCR) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this mobile services company have returned -4.1% over the past month versus the Zacks S&P 500 composite's +3.5% change. The Zacks Internet - Software industry, to which Synchronoss belongs, has gained 9% over this period. Now the key question is: Where could the stock be headed in the near term? Althou ...

Synchronoss Technologies (SNCR) shares are one of the cheaper stocks in the broader Zacks Computer & Technology sector, with a Value Score of A. SNCR stock is trading at a significant discount with a forward 12-month Price/Sales (P/S) ratio of 0.73X compared with the sector's 6.2X. It is cheaper than its Zacks Internet Software industry peer Aspen Technology (AZPN) , which is currently trading at a forward 12-month P/S of 12.31X. SNCR's cheap valuation is attractive for investors. However, is it worth buyin ...