Thu, Mar. 12, 1:25 PM
- Synchronoss' (NASDAQ:SNCR) guidance for 32% 2015 cloud services revenue growth is likely conservative, says FBR's Daniel Ives, reiterating an Outperform. The guidance, provided during Synchronoss' Q4 CC (transcript) and reiterated yesterday, led shares to sell off post-earnings in spite of a Q4 beat.
- Ives: "We continue to believe this dynamic points to management's 'under-promise and over-deliver' strategy as the company highlighted strong growth opportunities from solid customer adoption rates, international expansion, the (personal cloud assets from) F-Secure, (an online security and privacy company), strong secular trends (meaning cloud adoption, data growth) and healthy average selling prices, which we anticipate will help drive cloud growth in 2015."
- He also observes Synchronoss doubled its (white-label) personal cloud subscriber base in 2014 to 24M, something that helped it top guidance for 30% cloud revenue growth.
Mon, Feb. 9, 2:55 PM
- Today's notable tech gainers include 3D printer maker ExOne (XONE +6%), data center switch vendor Arista (ANET +4.2%), solar microinverter maker Enphase (ENPH +6.1%), ID theft-protection services firm LifeLock (LOCK +6.8%), voice processor developer Audience (ADNC +10.3%), contract manufacturer Multi-Finline (MFLX +10.2%), and cloud file-sharing platform/recent IPO Box (BOX +9.1%).
- Notable decliners include flash storage array vendor Violin Memory (VMEM -5.6%), ultracapacitor maker Maxwell (MXWL -6.3%), SMB Web services provider Wix.com (WIX -4.8%), salvage auction site Liquidity Services (LQDT -5.4%), and carrier billing software/cloud services provider Synchronoss (SNCR -5.6%). The Nasdaq is down 0.3%.
- LifeLock reports earnings tomorrow afternoon. Audience is four days removed from beating Q3 estimates and offering in-line guidance. Arista is reversing its Friday's losses, and Box is adding to the Friday gains that came after a positive Jim Cramer mention.
- Synchronoss is adding to the losses seen last week after the company offered cautious 2015 cloud revenue guidance to go with a Q4 beat, and Maxwell to the losses seen due to the soft Q1/2015 guidance provided with a Q4 beat. Liquidity is giving back some of last week's huge post-earnings gains. Wix reports on Wednesday morning.
- Earlier: GoPro, Yelp see more post-earnings pain
- Earlier: Chinese solar stocks rally
Thu, Feb. 5, 8:02 AM| 2 Comments
Wed, Feb. 4, 5:30 PM
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Wed, Feb. 4, 12:30 PM
- Ahead of tomorrow morning's Q4 report, Synchronoss (SNCR +4.7%) has announced it's buying personal cloud service assets from Finnish security software firm F-Secure for $60M in (offshore?) cash. The deal is expected to close in Q1, and be neutral to slightly accretive to 2015 results.
- As part of the deal, Synchronoss will be able to integrate/resell F-Secure's security products with its Personal Cloud offerings. which provides a variety of white-label mobile services to carriers. Synchronoss suggests the purchase will help it cross-sell its existing offerings to F-Secure's international carrier clients.
- The deal follows last July's $26M purchase of French cloud address book developer Voxmobili. Synchronoss' cloud services revenue rose 115% Y/Y in Q3, and made up 46% of total revenue.
Nov. 19, 2014, 12:55 PM
Nov. 19, 2014, 9:11 AM| 1 Comment
Oct. 28, 2014, 8:04 AM
Aug. 6, 2014, 11:44 AM
- Synchronoss (NASDAQ:SNCR) is offering $200M worth of convertible senior notes due 2019. Underwriters are expected to have a $30M overallotment option.
- Some of the net proceeds will be used to pay off an existing credit facility. "Acquisitions and strategic transactions" are a potential use for the remainder.
- Synchronoss had $66.9M in cash at the end of June, and $9.3M in debt. The company announced in July it's buying white-label cloud address book provider Voxmobili for $26M in cash.
Jul. 29, 2014, 12:47 PM
Jul. 29, 2014, 12:44 PM
- Synchronoss (NASDAQ:SNCR) guided on its Q2 CC (transcript) for Q3 revenue of $117M-$120M and EPS of $0.43-$0.45, above a consensus of $109.2M and $0.42. The company also now expects 2014 revenue of $440M-$446M and EPS of $1.66-$1.72, largely above a consensus of $426.9M and $1.66.
- Q2 results slightly beat estimates with the help of a 74% Y/Y increase in white-label cloud services revenue to to $46.7M (45% of total revenue). Activation services revenue fell 3% Y/Y to $56.9M, something Synchronoss blames on tough comps.
- The cloud growth was fueled by a 30%+ Q/Q increase in recurring revenue. Recurring streams (subscription/transaction-based) now make up 77% of total revenue.
- Synchronoss expects its cloud ops to exit 2014 on a $200M+ annual revenue run rate; the Voxmobili acquisition will help a bit. The company is also upbeat about sales to top customer AT&T, which recently reported strong Q2 net adds (its service revenue was softer).
- SG&A spend rose 15% Y/Y in Q2 to $17.1M. R&D spend rose 5% to $14.9M.
- Q2 results, PR
Jul. 29, 2014, 9:08 AM
Jul. 29, 2014, 8:07 AM| Comment!
Jul. 14, 2014, 11:09 AM
- Synchronoss (SNCR +1.9%) is buying Voxmobili, a French developer of cloud-based, private-label, address book apps for carriers, for $26M in cash.
- Voxmobili's customer base includes AT&T, Vodafone, Orange, and T-Mobile. Its products bolster Synchronoss' arsenal of private-label content services for mobile carriers.
- The deal is expected to be "neutral to slightly accretive" to 2014 results. Synchronoss' Q2 report arrives on July 29.
Apr. 30, 2014, 8:05 AM| Comment!
Apr. 29, 2014, 5:30 PM
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Synchronoss Technologies Inc provides cloud solutions and software-based activation for connected devices. Itssolutions include intelligent connectivity management & content synchronization, backup & sharing service procurement, provisioning, activation.
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