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Jun 30, 2021
Synchronoss Q2 2021 Earnings Report
Reported second quarter revenue of $71.5 million and Adjusted EBITDA of $13.3 million, up 15% year over year.
Key Takeaways
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%.
Revenue for the quarter was $71.5 million.
Recurring revenue for the quarter represented 87% of total GAAP revenue.
GAAP net loss for the quarter was $23.9 million or $0.54 per share.
Adjusted EBITDA for the quarter was $13.3 million.
Forward Guidance
Synchronoss is reiterating its revenue and adjusted EBITDA guidance for the full year 2021. The Company continues to expect revenue for the full year 2021 to be in a range of $275-285 million, and adjusted EBITDA in the range of $32-37 million.
Historical Earnings Impact
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