NASDAQ$SNCR
Synchronoss Technologies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Synchronoss reported an 8% increase in third quarter revenue, driven by subscriber growth and recurring revenue.
Synchronoss Technologies reported strong third quarter 2024 results, with revenue increasing by 8% year-over-year to $43.0 million, driven by subscriber growth and a high percentage of recurring revenue. The company also improved its profitability and signed a three-year extension with SFR.
- Total revenue increased to $43.0 million, primarily driven by 5.1% subscriber growth year-over-year.
- Recurring revenue accounted for 92.2% of total revenue.
- Gross profit increased 14.3% to $29.9 million, with a gross margin of 69.6%.
- Adjusted EBITDA increased 36.8% to $12.7 million.
Headline financials
Revenue & EPS history
Synchronoss · Revenue · Quarterly
$43M
Forward guidance
Synchronoss is revising its 2024 outlook items upwards to more accurately reflect current expectations.
Tailwinds
- Revenue range of between $172 and $175 million, which equals a range of 6%-8% growth year-over-year.
- Adjusted Gross Margin of between 77%-78%.
- Adjusted EBITDA of between $47 million and $48 million, which equals at least 27% adjusted EBITDA margin.
- Recurring revenue of between 90%-92% of total revenue.
- Net cash flow outlook to be approximately $5 million this year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 1 quarterly earnings reports
+1.4%
Avg return
Earnings day
+8.0%
Avg return
5 days after
-6.1%
Avg return
30 days after
48%
29 / 61 earnings
Positive
+40.0%
Q4 2024
Best reaction
-25.4%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2024 | +40.0% | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | — | — | — | |
| Q1 2025 | — | — | — | |
| Q3 2024 | -15.6% | — | — | |
| Q2 2024 | -4.2% | — | — | |
| Q1 2024 | +32.4% | — | — | |
| Q4 2023 | -17.4% | — | — | |
| Q3 2023 | -19.3% | — | — | |
| Q2 2023 | +5.2% | — | — | |
| Q1 2023 | -4.2% | — | — | |
| Q4 2022 | -20.2% | — | — | |
| Q3 2022 | -4.7% | — | — | |
| Q2 2022 | -5.4% | — | — | |
| Q1 2022 | +4.2% | — | — | |
| Q4 2021 | -9.2% | — | — | |
| Q3 2021 | +9.3% | — | — | |
| Q2 2021 | -7.8% | — | — | |
| Q1 2021 | -1.9% | +0.0% | -2.0% | |
| Q4 2020 | -0.3% | +15.9% | -10.2% | |
| Q3 2020 | +9.1% | — | — | |
| Q2 2020 | +17.0% | — | — | |
| Q1 2020 | -16.0% | — | — | |
| Q4 2019 | -7.7% | — | — | |
| Q3 2019 | -20.4% | — | — | |
| Q2 2019 | -3.5% | — | — | |
| Q1 2019 | +12.0% | — | — | |
| Q4 2018 | -17.6% | — | — | |
| Q3 2018 | +2.3% | — | — | |
| Q2 2018 | +23.6% | — | — | |
| Q1 2018 | +7.6% | — | — | |
| Q4 2017 | +10.9% | — | — | |
| Q2 2017 | +10.9% | — | — | |
| Q3 2017 | +10.9% | — | — | |
| Q1 2017 | -4.5% | — | — | |
| Q4 2016 | -11.9% | — | — | |
| Q3 2016 | +19.6% | — | — | |
| Q2 2016 | +9.6% | — | — | |
| Q1 2016 | +15.6% | — | — | |
| Q4 2015 | -25.4% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | +6.9% | — | — | |
| Q1 2015 | -6.6% | — | — | |
| Q4 2014 | -6.8% | — | — | |
| Q3 2014 | +9.2% | — | — | |
| Q2 2014 | +17.4% | — | — | |
| Q1 2014 | +7.4% | — | — | |
| Q4 2013 | +20.8% | — | — | |
| Q3 2013 | +3.4% | — | — | |
| Q2 2013 | +14.6% | — | — | |
| Q1 2013 | +6.6% | — | — | |
| Q4 2012 | +19.1% | — | — | |
| Q3 2012 | -6.0% | — | — | |
| Q2 2012 | +15.3% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q1 2012 | -6.1% | — | — | |
| Q4 2009 | -0.9% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q3 2010 | -2.9% | — | — | |
| Q2 2011 | -10.4% | — | — | |
| Q4 2010 | -10.4% | — | — | |
| Q2 2010 | -10.4% | — | — | |
| Q1 2010 | +8.0% | — | — |
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