Synchronoss Q2 2021 Earnings Report
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.
Synchronoss
Synchronoss
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.