Personal cloud platform Synchronoss Q3 revenue misses estimates on subscriber growth

Synchronoss Technologies

04/11/2025 22:01

Overview

Synchronoss Technologies Inc Q3 revenue of $42 mln missed analyst expectations

Net income for Q3 was $5.8 mln, significantly improved from last year

Company expects new customer additions in 2025 and 2026

Outlook

Synchronoss expects 2025 revenue between $169 mln and $172 mln

Company anticipates recurring revenue of at least 90% of total revenue in 2025

Synchronoss projects 2025 adjusted EBITDA between $50 mln and $53 mln

Result Drivers

RECURRING REVENUE - 93.8% of Q3 revenue was recurring, driven by cloud subscriber growth

CLOUD AI MODEL - Deployment of hybrid cloud AI model for cost optimization, enabling in-house photo tagging and image embeddings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$42 mln
$43.19 mln (3 Analysts)
Q3 EPS
$0.51
Q3 Net Income
$5.80 mln
Q3 Gross Profit
$29.20 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the it services & consulting peer group is "buy."

Wall Street's median 12-month price target for Synchronoss Technologies Inc is $13.00, about 57.2% above its November 3 closing price of $5.57

The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago

Press Release: ID:nGNX9QcqtM

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)