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Mar 31, 2021
Synchronoss Q1 2021 Earnings Report
Synchronoss reported first quarter results with GAAP revenue of $65.5 million and an adjusted EBITDA of $5.5 million, a 215% increase year over year.
Key Takeaways
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.
GAAP revenue for the quarter was $65.5 million.
Recurring revenue for the quarter represented 86% of total GAAP revenue.
Adjusted EBITDA for the quarter was $5.5 million, a 215% increase year over year.
Signed new contracts with Telkomsigma and an advanced messaging customer in Southeast Asia.
Forward Guidance
The company expects its revenue for full year 2021 to be in the range of $275 million to $285 million and is raising its adjusted EBITDA guidance for the full year 2021 to be in the range of $32 million to $37 million, representing adjusted EBITDA growth of 15% to 33% year over year, respectively.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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