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Synchronoss Technologies Inc - SNCR STOCK NEWS

Welcome to our dedicated page for Synchronoss Technologies news (Ticker: SNCR), a resource for investors and traders seeking the latest updates and insights on Synchronoss Technologies stock.

Synchronoss Technologies Inc (NASDAQ: SNCR) is a global leader in providing innovative personal cloud solutions and software-based activation services for connected devices. With a strong focus on helping consumers and enterprises maintain secure and seamless digital experiences, Synchronoss offers a robust suite of white-label cloud, messaging, digital, and network management solutions. These solutions enable customers to synchronize, connect, and manage their digital content and services across multiple devices and platforms.

The company's flagship product, the Synchronoss Personal Cloud™, is designed to deliver a secure, highly scalable platform that telecom operators and mobile service providers can customize and brand. This platform allows users to back up, protect, engage with, and manage their personal content, thereby enhancing customer experience and loyalty. Recently, the platform was updated to include new AI photo editing features and a streamlined onboarding process, making it easier for subscribers to secure their digital memories and content.

Synchronoss Technologies has forged significant partnerships with major telecom operators such as AT&T, Verizon, and SoftBank, deploying its solutions to millions of subscribers worldwide. The company generates its revenue primarily from subscriptions and transaction-based fees, with the majority of its income coming from the United States.

In recent developments, Synchronoss announced the focus on its Cloud business following the sale of its Messaging and NetworkX businesses. This strategic move allows the company to concentrate its resources and expand its services for existing and new Cloud customers. Additionally, Synchronoss has enhanced its capital structure and sharpened its focus as a pure-play cloud company.

Under the leadership of President and CEO Jeff Miller, Synchronoss continues to innovate and expand its product offerings. The introduction of Enhanced Plans and the advancements in the Genius AI capabilities underscore their commitment to delivering cutting-edge solutions that meet the evolving needs of their subscribers.

Synchronoss remains committed to providing carrier-grade solutions that prioritize data security and privacy, enabling service providers to offer branded, value-added services that reduce churn and increase average revenue per user (ARPU).

News

Synchronoss to Unveil New Version of AI-Powered Personal Cloud Platform at Mobile World Congress

Rhea-AI Summary
Synchronoss Technologies, Inc. announces the latest version of Synchronoss Personal Cloud at Mobile World Congress, featuring new AI photo editing tools and a streamlined onboarding process. The platform offers Enhanced Plans for operators to customize services, monetize upgrades, and increase user engagement. Genius AI capabilities have been enhanced to transform photos and improve user experience. The platform also includes BackTrack for file restoration and Advanced Highlights for personalized photo management.
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Synchronoss Successfully Completes Post-Divestiture Cost Removals, Resulting in Approximately $15 Million in Annual Savings

Rhea-AI Summary
Synchronoss Technologies, Inc. expects to report revenue and adjusted EBITDA meeting or exceeding the upper end of previously communicated guidance ranges for 2023. The company completed the consolidation of its standalone Cloud operations, removing $15 million in annualized costs. Management anticipates exceeding its 2023 financial guidance, with total revenue and adjusted EBITDA expected to surpass initial projections. The strategic divestiture of non-core assets in 2023 led to further cost reductions and streamlined operations. Looking ahead to 2024, Synchronoss projects total revenue growth between 5% and 8%, gross margins exceeding 75%, and adjusted EBITDA margins surpassing 25%. The CEO highlighted the successful transition to a Cloud solutions software provider, emphasizing improved cash flow generation and enhanced financial stability.
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Synchronoss Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary
Synchronoss Technologies, Inc. (SNCR) has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market, after having a closing bid price over $1.00 for over eleven consecutive business days from December 11 through December 26.
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Synchronoss Completes Cloud-Only Transformation, Reaffirms 2023 and 2024 Financial Projections

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Synchronoss Technologies, Inc. (SNCR) completes its cloud-only transformation, expecting positive cash flow in 2023 and projecting 5-8% revenue growth, gross margins >75%, and adjusted EBITDA margins >25% in 2024. The company aims for significant cost savings and increased free cash flow generation.
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Synchronoss Technologies Board Appoints 180 Degree Capital’s Kevin Rendino as New Director

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Synchronoss Technologies, Inc. (SNCR) appoints Kevin Rendino, a respected financial services leader, as a new director. With three decades of Wall Street experience, Rendino brings extensive expertise in capital markets, value investing, and corporate governance, making him a valuable addition to the board.
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Synchronoss Technologies Reports Third Quarter 2023 Results

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SNCR Completes Sale of Messaging and NetworkX Businesses, Realizes Multi-Year Strategy of Cloud-Only Operating Model
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Synchronoss Announces Sale of Messaging and NetworkX Businesses to Lumine Group as Part of Ongoing Strategic Alternatives Review Process

Rhea-AI Summary
Synchronoss Technologies, Inc. has announced the sale of its Messaging and NetworkX businesses to Lumine Group Inc. for up to $41.8 million. The transaction is part of Synchronoss' strategic alternatives review process and aims to maximize shareholder value. The sale will enable Synchronoss to focus solely on its cloud business, improving operating margins and cash flows. The proceeds will also be used to redeem a portion of the Company's outstanding preferred stock. Synchronoss expects gross margins of over 70% and adjusted EBITDA margins of over 25% by the end of fiscal year 2024.
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Synchronoss Technologies to Report Third Quarter 2023 Financial Results on Tuesday, November 7, 2023 at 4:30 p.m. ET

Rhea-AI Summary
Synchronoss Technologies, Inc. will hold a conference call on November 7, 2023, to discuss its financial results for Q3 2023. The call will be hosted by Synchronoss management and will include a question-and-answer period. Registration is required to access the webcast and dial-in numbers.
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Leading Japanese Telecommunications Carrier SoftBank Corp. Deploys Synchronoss Personal Cloud

Rhea-AI Summary
Synchronoss Technologies has announced the roll-out of Anshin Data Box, powered by Synchronoss Personal Cloud, in collaboration with SoftBank Corp. The service allows customers to backup and restore photos, videos, and files, while also offering artificial intelligence features to optimize low-resolution photos and create new content. SoftBank's Anshin Data Box will be available in November with 500 gigabytes of storage per month and will be integrated into new devices. The service will be distributed through multiple channels, including retail stores and digital buy flow.
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Synchronoss Announces SpatialNX 9.0 Including Support for PostgreSQL

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Synchronoss Technologies announces the release of SpatialNX 9.0 with support for PostgreSQL, providing a reliable and scalable platform for managing physical network infrastructure. SpatialNX is part of the Synchronoss NetworkX suite used by telecom service providers to manage network planning, design, service delivery, and billing reconciliation.
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FAQ

What is the current stock price of Synchronoss Technologies (SNCR)?

The current stock price of Synchronoss Technologies (SNCR) is $9.3 as of February 25, 2025.

What is the market cap of Synchronoss Technologies (SNCR)?

The market cap of Synchronoss Technologies (SNCR) is approximately 103.0M.

What does Synchronoss Technologies Inc (SNCR) do?

Synchronoss provides personal cloud solutions and software-based activation services for connected devices, helping consumers and enterprises manage their digital content securely.

What is Synchronoss Personal Cloud™?

Synchronoss Personal Cloud™ is a secure and scalable platform that allows users to back up, protect, and manage their personal content across multiple devices.

Who are Synchronoss Technologies' major partners?

Synchronoss has partnerships with major telecom operators such as AT&T, Verizon, and SoftBank, deploying its solutions to millions of subscribers worldwide.

How does Synchronoss generate revenue?

Synchronoss generates revenue primarily from subscriptions and transaction-based fees, with the majority of its income coming from the United States.

What recent strategic changes has Synchronoss announced?

Synchronoss recently announced a focus on its Cloud business and the sale of its Messaging and NetworkX businesses to concentrate resources on expanding Cloud services.

What new features are included in the latest version of Synchronoss Personal Cloud?

The latest version includes new AI photo editing features, a streamlined onboarding process, Enhanced Plans, and the Genius AI capabilities for enriched photo experiences.

How does Synchronoss prioritize data security?

Synchronoss offers carrier-grade solutions with a strong focus on data security and privacy, enabling service providers to deliver secure and branded value-added services.

Who is the current CEO of Synchronoss Technologies?

Jeff Miller is the President and CEO of Synchronoss Technologies Inc.

What is the focus of Synchronoss Technologies' recent developments?

Synchronoss is focusing on enhancing its Cloud business, expanding services for existing and new Cloud customers, and introducing innovative features like AI photo editing.

Where can I find more information about Synchronoss Technologies Inc?

For more information, visit the Synchronoss website at www.synchronoss.com.
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Synchronoss Technologies Inc

Nasdaq:SNCR

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SNCR Stock Data

102.97M
9.54M
12.12%
45.81%
1%
Software - Infrastructure
Services-computer Programming Services
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United States
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