secwatch.observer — SEC 8-K summary
======================================

Issuer:     SYNCHRONOSS TECHNOLOGIES INC (—)
CIK:        0001131554
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001131554-24-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1131554/000113155424000052/0001131554-24-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1131554/000113155424000052/sncr-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001131554-24-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer