Synchronoss Technologies CEO Jeff Miller joined Steve Darling from Proactive to provide an update on the company’s third-quarter results for 2024. A leader in personal Cloud solutions, Synchronoss helps service providers build secure connections with subscribers through its advanced SaaS Cloud platform. The platform simplifies subscriber onboarding and fosters engagement, leading to increased revenue, reduced costs, and quicker time-to-market for service providers.
For the third quarter, Synchronoss reported a revenue increase to $43.0 million, up from $39.8 million in the same period last year, primarily driven by 5.1% cloud subscriber growth. Notably, recurring revenue made up 92.2% of the total, compared to 89.5% last year. The company’s gross profit rose by 14.3% to reach $29.9 million. The company’s cash position remained strong, with $25.2 million as of September 30, 2024, compared to $23.6 million at the end of Q2. Synchronoss also highlighted a three-year contract extension with SFR, a significant …