Brief: Synchronoss Technologies Reports First Quarter 2023 Results

Synchronoss Technologies

09/05/2023 23:04

Synchronoss Technologies Inc  SNCR.O :
    * SYNCHRONOSS TECHNOLOGIES REPORTS FIRST QUARTER 2023
RESULTS
    * SYNCHRONOSS TECHNOLOGIES INC - COMPANY REAFFIRMS 2023
GUIDANCE
    * SYNCHRONOSS TECHNOLOGIES INC - QTRLY TOTAL REVENUE
DECREASED
12.4% TO $57.7 MILLION FROM $65.9 MILLION IN PRIOR YEAR PERIOD
    * SYNCHRONOSS TECHNOLOGIES INC - QTRLY NET LOSS WAS $13.4
MILLION,
OR $0.15 PER SHARE
    * SYNCHRONOSS TECHNOLOGIES INC - EXPECTS CLOUD SUBSCRIBER
GROWTH
TO CONTINUE AT A DOUBLE-DIGIT RATE ON A YEAR-OVER-YEAR BASIS IN
2023
    * SYNCHRONOSS TECHNOLOGIES INC - COMPARED TO Q1 OF 2023,
MANAGEMENT EXPECTS Q2 REVENUE AND ADJUSTED EBITDA TO MODERATELY
IMPROVE
    * SYNCHRONOSS TECHNOLOGIES INC - EXPECTS TO RETURN TO TOTAL
REVENUE GROWTH ON A GAAP BASIS FOR SECOND HALF OF YEAR AND IN
2024
    * SYNCHRONOSS TECHNOLOGIES INC - EXPECTS ADJUSTED EBITDA TO
RANGE
BETWEEN $44.0 MILLION AND $55.0 MILLION IN 2023

Source text for Eikon:  ID:nGNX8vzbkb 
Further company coverage:  SNCR.O