Welcome to our dedicated page for Synchronoss Technologies news (Ticker: SNCR), a resource for investors and traders seeking the latest updates and insights on Synchronoss Technologies stock.
Synchronoss Technologies Inc (NASDAQ: SNCR) provides investors and industry professionals with comprehensive access to official news and developments surrounding its cloud solutions for telecommunications providers. This resource consolidates all press releases and verified updates about the company's white-label personal cloud platform, strategic partnerships, and operational milestones.
Visitors gain immediate access to critical announcements including quarterly earnings reports, product innovation updates, and strategic collaborations with global telecom operators. The curated collection serves as an essential tool for tracking SNCR's progress in enabling secure digital content management through its SaaS solutions.
Key updates cover developments in artificial intelligence integration, market expansion initiatives, and enhancements to its flagship Personal Cloud platform. All content is verified through primary sources to ensure accuracy and timeliness for decision-makers.
Bookmark this page for streamlined monitoring of Synchronoss' advancements in cloud technology and its role in shaping mobile-first digital experiences worldwide. Return regularly to maintain current awareness of the company's position in the evolving telecom software sector.
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.
Synchronoss Technologies, a leader in cloud and digital products, announced the appointment of Christina Gabrys as Chief Legal Officer, succeeding Ronald Prague after 15 years. Gabrys, who previously served as Assistant General Counsel and Chief Compliance Officer, is set to oversee all legal affairs within the company. Her prior experience includes updating compliance programs and contributing significantly to the organization after joining through the acquisition of Openwave Messaging. Gabrys aims to empower the company’s global team to enhance customer connections.
Synchronoss Technologies (NASDAQ: SNCR) has announced an update to its spatialSUITE 8.6, which enhances network design and asset management for fiber and HFC networks. This version introduces two new products: spatialINSIGHT, designed for complex network management, and spatialOFFICE, a real-time collaboration tool. The updates aim to meet the growing demand for bandwidth, improving planning and efficiency in network operations. The comprehensive suite is available both on-premise and as a SaaS offering, promoting integration with existing systems.
Synchronoss Technologies (NASDAQ: SNCR) announced the appointment of Martin Bernstein to its Board of Directors, effective immediately. His appointment follows the company's recent recapitalization and represents the largest shareholder, B. Riley Financial. Bernstein brings extensive experience in capital allocation and corporate governance, which is expected to aid Synchronoss in achieving its strategic growth objectives. He expressed enthusiasm for the company's potential and emphasized a focus on innovation and value creation for stakeholders.
Synchronoss Technologies (NASDAQ: SNCR) announced successful public offerings totaling approximately $235 million and a private placement raising $75 million on June 30, 2021. The public offerings included 42.3 million shares of common stock at $2.60 per share and $125 million in senior notes due 2026. The net proceeds, about $300 million, will refinance the company’s capital structure, redeem outstanding preferred shares, and repay credit facility debts. Ratings of BB- were assigned to the notes, which will trade under SNCRL.
Synchronoss Technologies has announced a public offering of $125 million in 8.375% senior notes due 2026, including an additional $5 million from underwriters. The offering, set to close by June 30, 2021, is rated BB- by Egan-Jones Ratings. Proceeds will be utilized to redeem Series A Preferred Stock and repay revolving credit. Concurrently, Synchronoss is offering $100 million of common stock and has a $75 million private transaction for Series B Preferred Stock. The notes are expected to trade under symbol 'SNCRL' on Nasdaq.
Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to four newly hired employees as inducement equity awards, compliant with Nasdaq Listing Rule 5635(c)(4).
A total of 4,125 time-based restricted stock awards and 1,375 time-based stock option awards were granted. Each grant will vest 25% annually over four years, subject to continuous service. This initiative highlights Synchronoss' commitment to attracting talent and fostering growth.
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