Synchronoss Technologies Inc Stock Price, News & Analysis

Synchronoss Technologies (NASDAQ: SNCR) has unveiled its next-generation Personal Cloud platform at CES 2025, featuring enhanced AI-powered tools and improved functionality. The platform, which currently supports over 11 million subscribers worldwide, processes more than 50 million photos daily and manages 230 petabytes of storage.

The white-label cloud solution, available through AT&T, Verizon, and SoftBank, offers secure storage and backup capabilities for photos, videos, and digital files. Key enhancements include expanded AI-powered photo editing tools, improved interface, and advanced backup functionality for both iPhone and Android users.

The platform introduces new features such as customizable slideshows with soundtracks, an expanded Genius photo editing suite with 3D, Sketch, Anime, Art Style, and Color Pop options, plus advanced tools including Background Remover, Emojis, and Smart Stickers. Unlike third-party solutions, Synchronoss Personal Cloud prioritizes data security and privacy without monitoring user behavior or displaying ads.

Synchronoss Technologies (NASDAQ: SNCR) has secured a three-year contract extension with a major U.S. telecom provider for its Personal Cloud platform. The platform enables subscribers to securely backup, manage, and share content across devices. The latest version integrates AI functionality, offering enhanced capabilities for digital content management.

The Synchronoss Personal Cloud platform serves as a white-label solution for global service providers, featuring tiered plans (basic, value-added, and premium) that allow operators to select specific capabilities for their subscribers. This private-label approach enables service providers to monetize cloud services, increase subscriber engagement, reduce churn, and boost average revenue per user (ARPU).

Synchronoss Technologies (Nasdaq: SNCR), a global leader in Personal Cloud platforms, has announced its participation in two upcoming investor conferences. Jeff Miller, President and CEO, and Louis Ferraro, CFO, will represent the company at the Sidoti November Virtual Investor Conference on November 13, 2024, with a presentation scheduled for 10:00 AM ET. They will also attend the Northland Growth Conference on December 12, 2024, where one-on-one meetings can be arranged through Northland sales representatives.

Synchronoss Technologies (Nasdaq: SNCR) reported its Q3 2024 financial results, highlighting an 8% revenue growth year-over-year to $43.0 million, with 92.2% recurring revenue. The GAAP gross margin expanded to 69.6%, while the adjusted gross margin rose to 79.6%. The company also introduced the latest version of its Personal Cloud™ platform, featuring new AI capabilities. Key financial results include a net loss of $(5.7) million, $5.5 million in income from operations, and $12.7 million in adjusted EBITDA, marking a 37% increase compared to the prior year. Synchronoss signed a 3-year extension with SFR, maintaining its service to 27 million subscribers. The company updated its full-year 2024 guidance, projecting revenue between $172 and $175 million and adjusted EBITDA between $47 and $48 million.

Synchronoss Technologies (NASDAQ: SNCR) has renewed its three-year contract with a major French operator, extending their 8-year partnership. The French service provider, serving over 27 million subscribers, will continue to utilize Synchronoss Personal Cloud to manage, optimize, and share digital content. Synchronoss Personal Cloud is a secure, scalable platform integrating AI and machine learning, offering features like Tagging, Backtrack, and AI photo enhancements. The renewal aims to increase subscriber engagement, ARPU, and reduce churn by providing flexible, tiered cloud solutions. Jeff Miller, President and CEO of Synchronoss, emphasized the platform's value and the potential for new monetization opportunities.

Synchronoss Technologies (Nasdaq: SNCR), a global leader in Personal Cloud platforms, has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024 at 4:30 p.m. Eastern time. The company will release its financial results for the quarter ended September 30, 2024, via press release before the call. Management will host a presentation followed by a Q&A session, accessible via domestic (877-451-6152) and international (201-389-0879) dial-in numbers.

Synchronoss Technologies (NASDAQ: SNCR) has unveiled an enhanced version of its Synchronoss Personal Cloud platform for service providers. This carrier-grade solution offers a tailored white-label option for managing, backing up, and optimizing digital content across various devices. Key new features include:

1. Memories: AI-curated personalization of user content in movie format
2. AI-Enhanced Genius: One-click photo editing with AI filters and transformations
3. Improved Backups: Enhanced backup and notification management
4. Tip Cards: In-app communication tiles for feature awareness

The platform currently supports over 10 million subscribers worldwide and aims to minimize churn and increase ARPU for operators and service providers.

Synchronoss Technologies Inc. (Nasdaq: SNCR), a leader in Personal Cloud platforms, has announced its participation in the Sidoti August Virtual Investor Conference on August 15, 2024. Jeff Miller, President and CEO, and Louis Ferraro, CFO, will represent the company, presenting at 11:30 AM ET.

The presentation will be accessible via webcast on the Synchronoss Investor Relations website. Investors can register for the presentation or schedule one-on-one meetings through the Sidoti event website. This conference provides an opportunity for Synchronoss to engage with investors and showcase its position in the Personal Cloud market.

Synchronoss Technologies (NASDAQ: SNCR) reported strong Q2 2024 results, with revenue growing 6% year-over-year to $43.5 million. Key highlights include:

- 90.5% recurring revenue
- GAAP gross margin expanded to 67.5%
- Adjusted gross margin rose to 77.5%
- Net income increased by $11.1 million
- EPS improved to $0.01 from $(1.13)
- Adjusted EBITDA improved 115% to $13.0 million

The company retired its preferred stock, reducing total net debt and cost of capital. Synchronoss partnered with Verizon to provide unlimited cloud storage and appointed a new Country Manager for Japan. The company revised its 2024 outlook, expecting adjusted gross margin of 73-77% and adjusted EBITDA of $43-46 million.