Synchronoss Technologies, Inc.NASDAQ
Tue, Nov. 8, 3:02 PM
Tue, Nov. 8, 11:34 AM
- Results – revenue $181M (+19.6% Y/Y, $3.17M above estimates), EPS $0.68 ($0.01 above estimates), gross profit $109.1M (vs. $92.1M Y/Y), operating income $46.5M (vs. $43.2M Y/Y), net income $32.5M (vs. $27.1M Y/Y)
- Segment revenues – Cloud Solution $106.4M (+40% Y/Y), Activation Solution $74.6M (-1% Y/Y)
- Q4 projections – revenue $194M-$201M (midpoint +25% Y/Y), Cloud Solution revenue $122M-$125M (midpoint +36% Y/Y), gross margin 62%-63%, operating margin 28%-29%, EPS $0.80-$0.85, tax rate 30%
- FY 2016 projections – revenue $682M-$689M (midpoint +18% Y/Y), Cloud Solution revenue $408M-$411M (midpoint +32% Y/Y), Activation Solution revenue $274M-$278M (midpoint +2% Y/Y), gross margin 60%-61%, operating margin 25%-26%, EPS $2.54-$2.59, tax rate 30%
- FY 2017 projections – Cloud Solution revenue greater than $520M
- Synchronoss Technologies (NASDAQ:SNCR) founder and CEO Stephen Waldis: "We are very proud of the Synchronoss team for delivering a strong third quarter with significant momentum around cloud and enterprise heading into year end and 2017. Cloud was very strong this quarter with both new and existing customers, as solid subscriber growth and expanded cloud initiatives in our core customer base set the stage for the next chapter of growth at Synchronoss."
- Prior quarters overview
- Earnings call transcript
- Press release
Mon, Nov. 7, 4:06 PM
Sun, Nov. 6, 5:35 PM
- ACAD, ACXM, ADUS, AKAO, ALB, ALGN, AMC, ANDE, APEI, APLE, ARNA, BIOS, CHGG, CKEC, CRAY, CST, CTLT, CUTR, CZR, DEPO, DMD, DTLK, DTSI, EBS, EDIT, ENV, EPM, FANG, FARM, FICO, FN, FNV, FOGO, FRGI, FSM, FTD, HALO, HCKT, HTZ, IAG, IFF, JKHY, JPEP, KND, LSCC, LYV, MAR, MATX, MCHP, MODN, MXL, NCMI, NEWR, NH, NVGS, NVRO, NWSA, OAS, OMF, OPK, ORA, OUT, PACD, PCLN, PINC, PKI, PRAA, PTLA, RARE, REN, RMTI, RRR, RST, RTEC, RWT, SCSC, SGY, SITE, SNCR, SNHY, TCX, TDW, TREX, TSLX, ZGNX
Wed, Aug. 3, 4:27 PM
Tue, Aug. 2, 5:35 PM
- AEL, AGO, AGU, ALB, ALIM, ALL, ANDE, AREX, ATO, AWK, AWR, BBRG, BFAM, BGC, BIO, BKH, BNFT, BREW, BYD, CABO, CBPX, CCRN, CDI, CECO, CF, CHDN, CIM, CLR, CNAT, CODI, CPA, CSGS, CSII, CTL, CXW, DENN, DEPO, DK, DKL, DPM, ECR, EPE, EPR, EQIX, ERII, ETE, ETP, EVC, EVHC, EXAR, EXEL, EXTR, FIVN, FOXA, FRGI, FRSH, FSLR, G, GBDC, GDDY, GERN, GPOR, HABT, HASI, HI, HIL, HIVE, HLF, HOS, HR, HRTG, HUBS, IAG, IL, INOV, IO, IRG, ITRI, JACK, JCOM, JONE, JRVR, LGCY, LHCG, LNC, LPI, MASI, MC, MED, MET, MNR, MRO, MTDR, MUSA, MWA, NBIX, NKTR, NLY, NNBR, NP, NSIT, NSTG, OAS, OME, OSUR, PDM, PE, PEGA, PMT, PODD, PRA, PRU, PRXL, QLYS, QTWO, QUIK, REXR, RICE, RIG, RIGP, RLJ, RMP, RNG, RP, RST, RYN, SBY, SEMI, SGMO, SNCR, SQ, SQNM, SRC, SSS, STAA, STR, SUN, SWM, SXL, TCAP, TDOC, TEAR, TEP, TLLP, TRIP, TRNC, TROX, TS, TSLA, TSLX, TSO, TTEC, TWO, UHAL, VTAE, VVC, WCN, WGL, WMC, WPG, WPX, WU, XEC, XPO
Fri, May 6, 2:34 PM
- In addition to beating Q1 estimates, Synchronoss (SNCR +20.7%) guided on its earnings call for Q2 revenue of $155M-$160M and EPS of $0.51-$0.55 (favorable at the midpoints to a consensus of $155.2M and $0.52), and full-year revenue of $665M-$685M and EPS of $2.32-$2.56 (mostly above a consensus of $664.6M and $2.36).
- Synchronoss' traditional activation services business saw revenue drop 1% Y/Y in Q1 to $61.3M. But its white-label cloud services business saw revenue rise 18% to $84.3M, aided by better-than-expected revenue at top customer Verizon.
- Full-year activation services revenue guidance has been cut to $275M-$285M from $277M-$289M. But cloud services guidance has been upped to $390M-$400M from $378M-$391M. Messaging software firm Openwave (acquired in March) is expected to have a negligible impact on 2016 sales; its 2017 impact is expected to be "more significant."
- Synchronoss' Q1 beat, earnings release
Thu, May 5, 4:17 PM
- Synchronoss Technologies (NASDAQ:SNCR): Q1 EPS of $0.49 beats by $0.03.
- Revenue of $145.58M (+9.4% Y/Y) beats by $1.29M.
Wed, May 4, 5:35 PM
- ABCO, ABTL, ACAD, ACET, AHS, AHT, AIRM, AL, ALEX, AMBR, AMH, ANET, APLE, ASYS, ATHX, ATVI, ATW, BBG, BCEI, BIO, BIOS, BLDR, BOJA, CAA, CARA, CERN, CINR, CLNE, CLVS, CMLS, CPA, CTRL, CYBR, CZR, DATA, DCT, DEPO, DIOD, DK, DKL, DV, DWA, EBS, ECOM, ED, EFC, EGAN, EGL, EGN, EGY, ELON, ENDP, ENV, EOG, ERII, ESL, EVC, EVDY, EVHC, FCE.A, FEYE, FISV, FLR, FPRX, FTD, GBDC, GEOS, GERN, GPRO, GSAT, GST, GUID, GXP, HLF, HTGC, ICPT, IMMR, IMPV, INAP, JCOM, LADR, LOCO, MAIN, MCHX, MDR, MDRX, MDVN, MELI, MHK, MITT, MNTX, MRIN, MSI, MTD, MTZ, NBIX, NGVC, NSTG, NWSA, OLED, OMED, OUT, OVAS, PACD, PCTY, PEGA, PETX, PKI, PMT, POST, PRSS, PTCT, PTLA, QLGC, RPTP, RRMS, RWT, SAAS, SEM, SEMG, SNCR, SPPI, SPWR, SPXC, SQ, SSNC, SWIR, TCRD, TEAM, TRMR, TRUE, TRQ, TRUP, TSRO, TWOU, UBNT, UEPS, UNXL, WAGE, WAIR, WEB, WIFI, WING, XNPT, Y, YELP
Wed, Mar. 2, 6:59 PM
- Synchronoss (NASDAQ:SNCR) is buying Openwave Messaging, a provider of messaging, security, and identity management software for carriers, along with related services. Terms are undisclosed.
- The deal fits with Synchronoss' focus on providing software and white-label cloud services for mobile carriers. Synchronoss: "Openwave has a world-class product portfolio which includes its core complete messaging platform optimized for today's most complex messaging requirements worldwide with a particular geographic strength in APAC. With this acquisition and combined with Synchronoss current global footprint, Synchronoss will have direct access to over 3.5 Billion subscribers around the world for its flagship personal cloud platform and importantly bolster our go-to-market efforts internationally."
- Openwave isn't expected to have a material impact on Synchronoss' 2016 revenue/EPS. Synchronoss is a year removed from buying Finnish security software firm F-Secure for $60M. French cloud address book developer Voxmobili was acquired for $26M in 2014.
Fri, Feb. 5, 1:41 PM
- Following a 2-day 25% drop that followed Synchronoss' (SNCR +11.5%) Q4 beat and soft 2016 guidance, shares are rebounding today. Possibly helping: Yesterday afternoon, Synchronoss announced a $100M buyback program.
- The program is expected to be used over the next 12-18 months, and is good for repurchasing 9% of shares at current levels. Synchronoss had $214M in cash/investments at the end of 2015, and $230M in convertible debt.
Thu, Feb. 4, 11:37 AM
- Synchronoss (SNCR -13.2%) has tumbled to its lowest levels since 2013 after posting a Q4 beat on Wednesday morning. The culprit: Synchronoss guided on its earnings call (transcript) for 2016 revenue of $655M-$680M (+15% Y/Y at the midpoint) and EPS of $2.22-$2.45, largely below a pre-earnings consensus of $679.3M and $2.51. Free cash flow is expected to grow 10%-20% from 2015's $66.4M.
- The company's Cloud Services segment (provides white-label cloud services to carriers) is expected to see revenue of $378M-$391M (+24% at the midpoint), with demand from both AT&T and major international carriers providing a lift. However, Activation Services (subscriber activation/provisioning software) is only expected to grow to $277M-$289M from 2015's $270M - Synchronoss says it's taking a "conservative view" for the business until it gets better visibility regarding certain international deployments.
- Also: 1) Synchronoss' enterprise mobility JV with Goldman is expected to hurt by EPS by $0.10-$0.12 due to initial investments; the JV is forecast to approach breakeven by year's end. 2) Investments in a new JV with Verizon (NYSE:VZ) to roll out Synchronoss' Universal ID platform to Verizon subs and sell Universal ID to enterprises are expected to have a $0.06-$0.10 EPS impact.
- Stifel has downgraded Syncrhonoss to Hold. The firm believes Q4 Cloud Services revenue was boosted by at least $18M thanks to one-time revenue related to the Verizon JV.
- Synchronoss' Q4 results, earnings release
Wed, Feb. 3, 8:02 AM
- Synchronoss Technologies (NASDAQ:SNCR): Q4 EPS of $0.61 beats by $0.04.
- Revenue of $157.21M (+20.7% Y/Y) beats by $1.88M.
Tue, Feb. 2, 5:30 PM
Oct. 29, 2015, 10:49 AM
- Raymond James has upgraded Synchronoss (SNCR +4.2%) to Strong Buy a day after the company sold off in response to a slight revenue miss and soft Q4 guidance (overshadowed a deal with Goldman to create an enterprise mobility software JV).
- Synchronoss currently goes for 13.6x a 2016 EPS consensus of $2.58. Shares -16% YTD.
Oct. 28, 2015, 9:23 AM
- In addition to missing Q3 revenue estimates (while posting in-line EPS), Synchronoss (NASDAQ:SNCR) has guided for Q4 EPS of $0.56-$0.60, below a $0.61 consensus.
- Separately, Synchronoss has announced it's forming a JV with Goldman Sachs to "develop advanced mobile solutions leveraging proprietary secure enterprise mobility technology" created by Goldman, which will have a minority stake.
- The JV will target the growing enterprise mobility management (EMM) software space, and leverage the cloud-based Synchronoss Workspace content management/employee workspace solution, Goldman's Lagoon mobile app management framework (enables BYOD app delivery), and Goldman's Orbit Suite of productivity and document management apps. Existing players in the market include VMware (AirWatch), Citrix, BlackBerry, Microsoft, and SAP.
- Synchronoss adds it plans to "introduce additional complementary advanced mobility solutions targeted at enterprise needs," and to leverage carrier partnerships to sell to enterprises.
- White-label cloud services revenue rose 31% Y/Y in Q3 to $76.1M. Activation services (e.g. carrier activation/provisioning software) revenue rose 11% to $75.2M. GAAP costs/expenses rose 17% Y/Y to $128.6M.
- Shares have fallen to $34.75 premarket.
- Q3 results, PR