- Synacor (SYNC -13%) is guiding for Q3 revenue of $25M-$26M, well below a $34.8M consensus and implying a 19%-23% revenue drop.
- 2013 guidance is for revenue of $108M-$112M, below prior guidance of $122M-$126M and a $121.9M consensus, and implying an 8%-12% revenue drop. 2013 adjusted EBITDA is expected to total $3M-$5M, down from 2012's $11.6M.
- On the CC, Synacor stated weak PC sales have hurt the ad revenue it generates via its OEM start page deals. Unique visitors/month (20M) and display ad impressions (10.3B) were flat Y/Y in Q2, but search queries fell 26% to 177M.
- Synacor is counting on its Android tablet browser start page deals to help stabilize sales. The company asserts "there's significant demand for [its] new products among consumer electronics manufacturers and wireless carriers."
- But Synacor adds the timing of product launches for new start page, TV Everywhere, and Cloud ID deals is "difficult to predict."
- Opex fell 5% Y/Y in Q2, while revenue fell 13%.
- Q2 results, PR
Synacor plunges on revenue miss, soft guidance
Aug 7 2013, 13:46 ET