Synchronoss Technologies Inc (SNCR) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ...

GuruFocus.com11-13

Revenue: $43 million, an 8% increase over the prior year period. Adjusted EBITDA: $12.7 million, a 37% increase from $9.2 million in the prior year period. Net Cash Flow: Positive for the quarter. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2483219890?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/9ZuNx9wdyjW701eTLcd5uQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/9cfc1a67edb25f244eb5029613f81d47","is_english":true,"pubTime":"2024-11-13 15:16","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2483219890","market":"us","top_or_hot":-1,"title":"Synchronoss Technologies Inc (SNCR) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ...","media":"GuruFocus.com","content":"<div>\n<p>Revenue: $43 million, an 8% increase over the prior year period.\nAdjusted EBITDA: $12.7 million, a 37% increase from $9.2 million in the prior year period.\nNet Cash Flow: Positive for the quarter.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/synchronoss-technologies-inc-sncr-q3-071647455.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Synchronoss Technologies Inc (SNCR) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSynchronoss Technologies Inc (SNCR) Q3 2024 Earnings Call Highlights: Strong Revenue Growth and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 15:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/synchronoss-technologies-inc-sncr-q3-071647455.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $43 million, an 8% increase over the prior year period.\nAdjusted EBITDA: $12.7 million, a 37% increase from $9.2 million in the prior year period.\nNet Cash Flow: Positive for the quarter.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/synchronoss-technologies-inc-sncr-q3-071647455.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SNCRL","symbol_name":"Synchronoss Technologies, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/synchronoss-technologies-inc-sncr-q3-071647455.html","article_id":"2483219890","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/9ZuNx9wdyjW701eTLcd5uQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/9cfc1a67edb25f244eb5029613f81d47"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483219890","pubTimestamp":1731482207,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: $43 million, an 8% increase over the prior year period.Adjusted EBITDA: $12.7 million, a 37% increase from $9.2 million in the prior year period.Recurring Revenue: 92.2% of total revenue, up from 89.5% in the prior year period.Adjusted Gross Profit: $34.2 million, 79.6% of total revenue, up from $30.4 million and 76.4% of total revenue in the prior year period.Income from Operations: $5.5 million, improved from a loss of $3.8 million in the prior year period.Net Loss: $5.7 million or $0.56 per share, compared to a loss of $5.2 million or $0.53 per share in the prior year period.Cash and Cash Equivalents: $25.2 million as of September 30, 2024.Free Cash Flow: Negative $27,000, down from positive $1.1 million in the prior year period.Adjusted Free Cash Flow: $1.8 million, down from $3.9 million in the prior year period.Full Year Recurring Revenue Guidance: Revised to 90% - 92% of total revenue, up from 85% - 90%.GuruFocus has detected 6 Warning Signs with SNCR.Net loss increased","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SNCRL":"Synchronoss Technologies, Inc.","SNCR":"Synchronoss Technologies, Inc."},"translate_title":"Synchronoss Technologies Inc(SNCR)2024年第三季度收益看涨期权亮点：强劲的收入增长和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SNCR":1,"SNCRL":1},"content_text":"Revenue: $43 million, an 8% increase over the prior year period.\nAdjusted EBITDA: $12.7 million, a 37% increase from $9.2 million in the prior year period.\nNet Cash Flow: Positive for the quarter.\nCloud Subscriber Growth: 5.1% year over year.\nRecurring Revenue: 92.2% of total revenue, up from 89.5% in the prior year period.\nAdjusted Gross Profit: $34.2 million, 79.6% of total revenue, up from $30.4 million and 76.4% of total revenue in the prior year period.\nIncome from Operations: $5.5 million, improved from a loss of $3.8 million in the prior year period.\nNet Loss: $5.7 million or $0.56 per share, compared to a loss of $5.2 million or $0.53 per share in the prior year period.\nCash and Cash Equivalents: $25.2 million as of September 30, 2024.\nFree Cash Flow: Negative $27,000, down from positive $1.1 million in the prior year period.\nAdjusted Free Cash Flow: $1.8 million, down from $3.9 million in the prior year period.\nFull Year Revenue Guidance: Revised to $172 million - $175 million, up from $170 million - $175 million.\nFull Year Adjusted Gross Margin Guidance: Revised to 77% - 78%, up from 73% - 77%.\nFull Year Recurring Revenue Guidance: Revised to 90% - 92% of total revenue, up from 85% - 90%.\nFull Year Adjusted EBITDA Guidance: Revised to $47 million - $48 million, up from $43 million - $46 million.\n\n\nWarning! GuruFocus has detected 6 Warning Signs with SNCR.\n\nRelease Date: November 12, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nRevenue increased by 8% year-over-year to $43 million, indicating strong financial performance.\nAdjusted EBITDA grew by 37% to $12.7 million, showcasing improved profitability.\nThe company reported positive net cash flow generation and a 5.1% increase in subscriber growth year-over-year.\nA key client, SFR, renewed a three-year contract extension, strengthening long-term business relationships.\nThe company successfully launched an updated version of its personal cloud platform with enhanced features, driving user engagement.\n\n Negative Points \n\nSequential revenue decline was noted, attributed to a reduction in professional services.\nNet loss increased to $5.7 million from $5.2 million in the prior year period, indicating ongoing financial challenges.\nFree cash flow declined to negative $27,000 from positive $1.1 million in the same period last year.\nThe company faces delays in receiving a $28 million IRS tax refund, impacting cash flow projections.\nInterest expenses increased due to the replacement of preferred stock with a term loan, affecting financial costs.\n\n Q & A Highlights \nQ: Could you elaborate on the revenues this quarter? They were down sequentially. Was there something seasonal or out of the ordinary that accounted for this? A: Jeffrey Miller, President and CEO, explained that the only modification was a slight reduction in professional services. Recurring or subscription revenue was up over 11% year-over-year. The drop in professional services was due to the completion of the SoftBank deployment.\nQ: Could you give some color on the status of the AT&T renewal? A: Jeffrey Miller stated that AT&T continues to grow robustly in their subscriber base, increasing the relevance of Synchronoss's platform. They are working well with AT&T to finalize the contract extension, expected to conclude before the end of the year.\nQ: How many paying users do you have with SoftBank? A: Jeffrey Miller did not provide specific numbers but mentioned that they are measuring in the hundreds of thousands of customers. There has been consistent strong growth, and they continue to collaborate with SoftBank to expand its reach.\nQ: What is the impact of the term loan financing on interest expenses? A: Louis Ferraro, CFO, noted that the term loan financing structure results in a new quarterly interest expense of $4.7 million, compared to a combined $5.1 million preferred stock dividend and interest expense in the prior quarter. They expect to benefit from falling interest rates as the financing is based on SOFR plus 550 basis points.\nQ: Can you provide an update on the tax refund status? A: Louis Ferraro mentioned that they did not receive additional federal tax refunds during the period, leaving a balance of approximately $28 million. They are working with the IRS Taxpayer Advocate Service and local representatives to expedite the refund, now estimated to be received in 2025.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483219890"}