Synchronoss Q1 revenue $43M, net income $2.3M, adjusted EBITDA $10.9M

SYNCHRONOSS TECHNOLOGIES INC

2024-Q1 EPS reported $0.23 revenue$42,965,000

GAAP revenue of $43.0M, up from $42.0M YoY; 91.1% recurring revenue.
Net income of $2.3M ($0.23 EPS) versus $(13.4M) ($(1.39) EPS) in Q1 2023.
Adjusted EBITDA rose 78% to $10.9M; adjusted gross margin improved to 76%.
Cash and equivalents $19.1M at March 31, 2024; expects ~$28M tax refund in H2 2024.
Reaffirmed 2024 guidance: revenue $170-175M, adjusted EBITDA $42-45M, FCF at least $10M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

SYNCHRONOSS TECHNOLOGIES INC reported its first quarter ended March 31, 2024 results: revenue $43.0 million, net income $2.3 million, EPS $0.23. Guidance reaffirmed.

Period: its first quarter ended March 31, 2024
Revenue: $43.0 million
Net income: $2.3 million
EPS: $0.23
Guidance: reaffirmed
Result: reported results

Exact text from the filing

except as expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Synchronoss Technologies Reports First Quarter 2024 Results Q1 Revenue Grew to $43.0 Million, Surpassing 91% Recurring Revenue GAAP Gross Margin Expands to 67%; Adjusted Gross Margin Rises to 76% Streamlined Operations Improve Profitability with Net Income Increasing by

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Source: SEC EDGAR

accession 0001131554-24-000052

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