Loading...
•
Mar 31, 2020
Synchronoss Q1 2020 Earnings Report
Synchronoss' first quarter results were announced, showing a decrease in revenue but also a reduction in net loss and total expenses.
Key Takeaways
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.
Revenue for the quarter was $77.1 million.
GAAP net loss for the quarter was $12.0 million.
Adjusted EBITDA for the quarter was $1.8 million.
Total costs and expenses decreased by 12.9 percent.
Synchronoss
Synchronoss
Forward Guidance
Synchronoss withdrew revenue guidance for the balance of the year due to COVID-19-related economic uncertainties, but reaffirmed Adjusted EBITDA guidance for the year of $25-$35 million.