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Sep 30, 2021
Synchronoss Q3 2021 Earnings Report
Synchronoss reported Q3 2021 revenue of $69.8 million and raised adjusted EBITDA guidance for 2021.
Key Takeaways
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.
Revenue for the quarter was $69.8 million.
Recurring revenue for the quarter represented 83% of total revenue.
Cloud subscribers grew 16% year-over-year versus 12% in the prior year.
GAAP net loss for the quarter was $9.8 million or $0.11 per share, up from a loss of $15.4 million, or $0.36 per share in the prior year.
Forward Guidance
The company continues to expect revenue for full year 2021 to be in the range of $275 to $285 million and is raising its adjusted EBITDA guidance for full year 2021 to $39-$43 million from $32-$37 million, representing adjusted EBITDA growth of 40% to 55% year-over-year, respectively.
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