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Dec 31, 2019
Synchronoss Q4 2019 Earnings Report
Synchronoss reported a strong finish to 2019 with increased revenue and strategic deployments.
Key Takeaways
Synchronoss Technologies Inc. announced its fourth quarter and full-year 2019 financial results, highlighting a revenue increase in Q4 and a new deployment of its Personal Cloud Solution for AT&T Mobility wireless customers. The company ended the year with a solid cash balance and significant improvements in financial results driven by cost reductions.
Revenue for the quarter was $90.6 million.
GAAP net loss for the quarter was $14.7 million.
Adjusted EBITDA for the quarter was $6.5 million.
The company ended the year with $39.0 million of cash on the balance sheet.
Synchronoss
Synchronoss
Forward Guidance
Synchronoss anticipates approximately $15 million of additional cost savings in 2020.