Synchronoss Technologies Inc Stock Price, News & Analysis

Synchronoss Technologies (NASDAQ: SNCR) has appointed Taylor C. Greenwald as Executive Vice President and Chief Financial Officer, effective immediately. With over 20 years of financial leadership experience, Greenwald will enhance the company's global financial operations. Previously, he served as CFO at Endurance International Group and held senior roles at Convergys Corporation. CEO Jeff Miller praised Greenwald's expertise in driving revenue growth and corporate development. Lou Ferraro will continue as Executive Vice President of Financial Operations and Chief Human Resources Officer.

Synchronoss Technologies (NASDAQ: SNCR) announced its third quarter financial results will be released on November 8, 2021, after market close. A conference call for analysts and investors is scheduled for the same day at 4:30 p.m. ET. The call will discuss the company's financial performance and will be accessible via phone and online webcast. Synchronoss specializes in cloud, messaging, and digital solutions, providing tools to connect companies with subscribers efficiently. The company aims to enhance revenue streams while reducing costs.

Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to seven new employees. The Compensation Committee approved these inducement awards under the 2017 New Hire Equity Incentive Plan in compliance with Nasdaq Listing Rule 5635(c)(4). In total, 6,375 time-based restricted stock awards and 2,125 stock option awards were granted. Both awards will vest 25% annually over four years, contingent on continued service. This move aims to incentivize and retain new talent within the company.

Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards for seven new employees, approved by the Compensation Committee under the 2017 New Hire Equity Incentive Plan. A total of 5,625 restricted stock awards and 1,875 stock options were granted. The restricted stock will vest over four years, while the stock options follow the same vesting schedule. This strategic move aims to attract talent and enhance employee retention, crucial for Synchronoss’s growth in the cloud and digital products sector.

Synchronoss Technologies (SNCR) has announced the issuance of restricted stock and stock option awards to five newly hired employees. The Compensation Committee approved these inducement awards under the 2017 New Hire Equity Incentive Plan. A total of 3,975 time-based restricted stock awards and 1,325 stock option awards were granted, each vesting 25% on the first four anniversaries of the grant date, dependent on continuous service.

Synchronoss Technologies reported Q2 2021 revenue of $71.5 million, a 6.5% decline year-over-year. Recurring revenue accounted for 87% of total revenue. The company posted a GAAP net loss of $23.9 million ($0.54 per share) and a non-GAAP net loss of $11.9 million ($0.27 per share). Adjusted EBITDA was $13.3 million, while cash reserves stood at $32.6 million. The company successfully completed a recapitalization that is expected to yield over 50% in savings for 2021. Synchronoss reiterated its 2021 revenue guidance of $275-285 million.

Synchronoss Technologies (NASDAQ: SNCR) has partnered with Kitamura, a leading Japanese multimedia retailer, to integrate the Synchronoss Personal Cloud solution into its services. This collaboration enables Kitamura’s customers to back up and manage their digital content securely from any device. With over 1,000 retail locations and 20 million visitors annually, Kitamura aims to enhance its online and retail experience. The partnership is expected to boost Kitamura's digital capabilities and create new revenue streams beyond traditional retailing.

Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to four newly hired employees as part of their 2017 New Hire Equity Incentive Plan. An aggregate of 3,413 restricted stock awards and 1,137 stock option awards will vest over four years, contingent on continuous service. This strategic move aims to attract and retain talent, further enhancing Synchronoss’s innovative capabilities in cloud, messaging, and digital products.

Synchronoss Technologies (NASDAQ: SNCR) announced its upcoming release of second quarter financial results for 2021, scheduled for August 9, 2021. This date marks the end of the financial quarter on June 30, 2021. Following the results announcement, management will host a conference call at 4:30 p.m. Eastern time to discuss these results with analysts and investors. Interested parties can access the call via dial-in or through a live webcast on the company's Investor Relations website.