Synchronoss Earnings Reports

Synchronoss delivered a strong Q4 2024, with revenue increasing 6.8% year-over-year to $44.2 million. The company reported net income of $7.9 million and adjusted EBITDA of $13.9 million, reflecting a 38.9% increase from the prior year. Gross profit improved to $30.6 million, with gross margin expanding to 69.1%. Free cash flow for the quarter was $9.1 million, reflecting the company's strong operational execution and profitability improvements.

Synchronoss Technologies reported strong third quarter 2024 results, with revenue increasing by 8% year-over-year to $43.0 million, driven by subscriber growth and a high percentage of recurring revenue. The company also improved its profitability and signed a three-year extension with SFR.

Synchronoss Technologies reported a strong second quarter in 2024, marked by a 6% year-over-year increase in revenue to $43.5 million. The company saw a significant improvement in net income, which increased by $11.1 million, and a notable rise in adjusted EBITDA, which improved by 115% to $13.0 million. Additionally, Synchronoss strategically retired its preferred stock, reducing total net debt and cost of capital.

Synchronoss Technologies reported a strong first quarter in 2024, marked by revenue growth to $43.0 million and enhanced profitability. The company's strategic focus on high-margin Personal Cloud services and operational streamlining led to a net income of $2.3 million, a significant improvement from the previous year. Adjusted EBITDA increased by 78% to $10.9 million, reflecting the success of post-divestiture cost restructuring and the company reaffirmed its 2024 guidance.

Synchronoss Technologies reported Q4 2023 results, highlighting a strategic transformation into a pure-play cloud company, with revenue of $41.4 million exceeding expectations due to year-over-year cloud growth. The company reaffirms its 2024 guidance, demonstrating a streamlined financial profile and more profitable operations.

Synchronoss Technologies reported mixed results for Q3 2023, with continued strength in the Cloud business offset by revenue weaknesses in Messaging and NetworkX. The company completed the sale of its Messaging and NetworkX businesses to Lumine Group, positioning Synchronoss as a higher margin, Cloud-only business.

Synchronoss Technologies reported a decrease in total revenue by 8.5% to $59.7 million, while invoiced cloud revenue increased by 24.0% to $46.4 million. The company experienced a net loss of $(11.0) million, or $(0.13) per share, compared to a net income of $5.3 million, or $0.06 per share, in the prior year period.

Synchronoss Technologies reported a 12.4% decrease in total revenue to $57.7 million, but invoiced cloud revenue increased 11.8% year over year. The company reaffirmed its 2023 guidance and expects to be cash flow positive in Q2 and return to GAAP revenue growth in the second half of the year.

Synchronoss Technologies reported a decrease in total revenue for Q4 2022, but highlighted growth in its core Cloud business with subscriber growth of 14% and invoiced Cloud revenue growth of 9.5%. The company finalized a major agreement with a Tier One global operator expected to deliver over $50 million over the term of the relationship. Management reiterated its expectation to be cash flow positive for 2023.

Synchronoss Technologies reported Q3 2022 results with a focus on profitability and cash flow generation. The company saw improvements in operating income and adjusted free cash flow year-over-year, driven by double-digit cloud subscriber growth and invoiced cloud revenue growth. They extended their cloud agreement with AT&T and signed a Letter of Intent with a tier one global operator.

Synchronoss Technologies reported a decrease in total revenue by 9% to $65.2 million, but net income improved to $5.3 million. Cloud revenue increased by 12% and adjusted EBITDA increased by 7% to $14.2 million.

Synchronoss Technologies reported a 1% increase in total revenue to $65.9 million and a 109% increase in adjusted EBITDA to $11.6 million, driven by strong cloud subscriber growth. The company is increasing its EBITDA expectations for the year to $45 to $55 million.

Synchronoss Technologies reported a strong finish to 2021, with Q4 revenue growth and multi-year highs in gross profit, operating income, and adjusted EBITDA. The company's long-term, profitable growth plan is supported by a 15% increase in Q4 Cloud revenue and optimized cost structures in Digital and Messaging.

Synchronoss Technologies Inc. announced financial results for its third quarter ended September 30, 2021, with revenue of $69.8 million. The company raised its full-year 2021 Adjusted EBITDA guidance to $39-43 million.

Synchronoss Technologies Inc. announced financial results for its second quarter ended June 30, 2021, reporting revenue of $71.5 million and adjusted EBITDA of $13.3 million, which is up 15% year over year. The company completed a comprehensive recapitalization during the quarter, which reduces projected full-year pro forma financial obligations by over 50%.

Synchronoss Technologies Inc. announced its financial results for the first quarter ended March 31, 2021. The company reported GAAP revenue of $65.5 million and an adjusted EBITDA of $5.5 million, a 215% increase year over year. The company also increased adjusted EBITDA guidance for full year 2021.

Synchronoss Technologies reported fourth-quarter GAAP revenue of $69.4 million and a net loss of $10.9 million, or $0.26 per share. The company's adjusted EBITDA for the quarter was $6.4 million. Jeff Miller was also appointed as the new President and CEO.

Synchronoss Technologies Inc. announced financial results for its third quarter ended September 30, 2020. The company reported a 40% increase in adjusted EBITDA year over year and raised its adjusted EBITDA guidance for the full year 2020. They also renewed their largest cloud customer, Verizon, to a five-year contract extension during the third quarter.

Synchronoss Technologies announced its Q2 2020 results, with a revenue of $76.5 million and adjusted EBITDA of $11.5 million. The company also announced the renewal of the Verizon contract. The company's cost cutting efforts are on track to deliver $45 million of in-year savings and $55 million of annualized savings.

Synchronoss Technologies reported a decrease in revenue for Q1 2020, but managed to reduce net losses and total expenses. The company also reaffirmed its Adjusted EBITDA guidance for the year.

Synchronoss Technologies Inc. announced its fourth quarter and full-year 2019 financial results, highlighting a revenue increase in Q4 and a new deployment of its Personal Cloud Solution for AT&T Mobility wireless customers. The company ended the year with a solid cash balance and significant improvements in financial results driven by cost reductions.