Overview
Synchronoss Technologies Inc Q3 revenue of $42 mln missed analyst expectations
Net income for Q3 was $5.8 mln, significantly improved from last year
Company expects new customer additions in 2025 and 2026
Outlook
Synchronoss expects 2025 revenue between $169 mln and $172 mln
Company anticipates recurring revenue of at least 90% of total revenue in 2025
Synchronoss projects 2025 adjusted EBITDA between $50 mln and $53 mln
Result Drivers
RECURRING REVENUE - 93.8% of Q3 revenue was recurring, driven by cloud subscriber growth
CLOUD AI MODEL - Deployment of hybrid cloud AI model for cost optimization, enabling in-house photo tagging and image embeddings
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $42 mln | $43.19 mln (3 Analysts) |
Q3 EPS | $0.51 | ||
Q3 Net Income | $5.80 mln | ||
Q3 Gross Profit | $29.20 mln |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy."
Wall Street's median 12-month price target for Synchronoss Technologies Inc is $13.00, about 57.2% above its November 3 closing price of $5.57
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago
Press Release: ID:nGNX9QcqtM
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)