Synchronoss Joins Russell 2000 Index, Solidifying Position as a Leading Small-Cap SaaS Company
Rhea-AI Summary
Synchronoss Technologies (NASDAQ: SNCR), a global leader in personal cloud platforms, has announced its inclusion in the Russell 2000® Index, effective June 30, 2025. The company's addition to the index follows its successful strategic transformation into a cloud-focused SaaS business model.
According to CEO Jeff Miller, the company has established a more resilient and predictable business model following its transition to a high-margin, Cloud-only SaaS operation. The company reports maintaining strong financial performance in Q1 2025, continuing the positive trend seen throughout 2024.
Positive
- Inclusion in the Russell 2000® Index, increasing visibility and potential investor interest
- Successful transformation to a high-margin, Cloud-only SaaS business model
- Continued strong financial performance through Q1 2025
Negative
- None.
News Market Reaction
On the day this news was published, SNCR gained 8.76%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BRIDGEWATER, N.J., July 01, 2025 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (“Synchronoss”) (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, today announced that the company has joined the Russell 2000® Index, effective upon the U.S. market open on June 30, 2025.
Prior to its inclusion in the Russell 2000 Index, Synchronoss had completed a strategic transformation to become a leading global cloud solutions provider, resulting in a more predictable, stable business model while delivering improved profitability. In the first quarter of 2025, the Company continued to deliver strong financial performance consistent with results seen throughout 2024.
"We’re pleased to see our operational and strategic progress recognized with our addition to the Russell 2000,” said Jeff Miller, President and CEO of Synchronoss. “We believe that we have a significantly more resilient and predictable model after the conclusion of our pivot to a high-margin, Cloud-only SaaS business, and are well positioned to generate attractive returns for our stakeholders going forward.”
For more information on the Russell 2000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR), a global leader in personal Cloud solutions, empowers service providers to establish secure and meaningful connections with their subscribers. Our SaaS Cloud platform simplifies onboarding processes and fosters subscriber engagement using artificial intelligence (AI), machine learning and other advanced features, resulting in enhanced revenue streams, reduced expenses, and faster time-to-market. Millions of subscribers trust Synchronoss to safeguard their most cherished memories and important digital content. Explore how our Cloud-focused solutions redefine the way you connect with your digital world at www.synchronoss.com.
About FTSE Russell
An LSEG Business, FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell.
Media Relations Contact:
Domenick Cilea
Springboard
dcilea@springboardpr.com
Investor Relations Contact:
Ryan Gardella
ICR INC.
ryan.gardella@icrinc.com
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