SNCR - Earnings call transcript Q4 2018 | Synchronoss Technologies, Inc.

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Operator

Greetings and welcome to the Synchronoss Technologies’ Fourth Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I'd now like to turn the conference over to your host, Joe Crivelli, Vice President, Investor Relations. ahead. go Please

Joe Crivelli

Welcome year everyone. Technologies quarter fourth Good earnings to call. full XXXX and afternoon, Synchronoss

Joining call Officer. Officer and on Chief David and the Clark, is Glenn Chief Financial President Lurie, Executive

forward-looking our financial During of we including prospects federal and and future within maybe are statements results anticipates, and the make. other operations currently words market factors securities certain as the Please include to identified the are actual we statements obligation statements that trends, These expectations to business forward-looking Generally, make such to laws, beyond are may financial as filings position, our call, or relating today considered for no prospects forward-looking undertake risks new reference press and and risk statements that result meaning it as and by to we of XXXX as results business refer Any our forward-looking and statements and intends opportunities. business on on differ more and about future of from statements our the expects, see specific forward-looking a events. assumptions that based uncertainties. information the based for on these the believes, of release SEC earnings statements other expectations. indications call update future our materially cause to on this statements and information we environment of

Reconciliation call in GAAP description non-GAAP In to do We these press the in can believe of U.S. measures our I'll understanding Glenn enhance now earnings to addition reporting, GAAP. release. the of be to measures over the Lurie. to measures that not non-GAAP turn conform to the GAAP found the non-GAAP measures performance. certain today’s report their addition we measures financial of

Glenn Lurie

closed several joining in major Joe company for the new lead the about material of will streams excited also I we in that Synchronoss XXXX. tremendous talk made progress platforms. everyone recently thank you am each today. believe Thanks, to We've and to us revenue for to you new deals our

We to management have continuing to cloud, In we're label buildings we with to operators Synchronoss operator will Synchronoss with business material in their geek customer AT&T buildings of pocket opportunities our internal further earlier with to the platform are and and initiative advanced DXP UK its of three use deal utilize power the the for to and believe to solution, and of energy and in are digital, that is global also progress. will customer suite are platform pipeline to launch. power the portfolio. white forward British efficiencies Things, white messaging, looking of our DXP expand smart very Synchronoss lead at will will announced Each the and that our device Japanese resell our who new we messaging our pending cloud cementing agreement and for new Rackspace announcing we its mobile Cloud today we announced in AT&T a BT building of largest important Internet entire in partnership wins we operational new protection enhance the the smart proud bundle. the In lines quarter label relationship development our company. Assurant offered these reviewed the Telecom revenue we its service several with product major journeys. who we which Rackspace their an deal In platform this with the new will

coming in a months. series expect We announcements of

within for in Adjusted you results financial This year our EBITDA $XXX.X full-year have We full-year the fourth short, worked In and that XXXX. at our EBITDA delivered and to momentum million XX% refocus million stock leverage after had We $XX.X within strength all with Revenue foundation was business. million in in to pleased of We for us of demonstrate you the committed guidance. our hard shareholders $XX.X fourth operating the to profitable also in million our a to exceeded half XX% business growth third our cash. the over quarter pleased on overall and pay the to set of notes cost-cutting EBITDA that the profitability. of adjusted we are adjusted enabled a improve XXXX adjusted on preferred to quarter. and our and convertible EBITDA guidance. that commitment revenue quarter and alone are also quarter we was of are our generated second XX.X%. of XXXX. in convertible XXXX margin the million fourth and of we street exiting repurchase $X.X in in quarter significant third promises that the first margin recognized dividend adjust shareholders We We the expenses executed early $XX

seen product thing a reoccurring products the details Lastly, to of SaaS we year The solutions on more and do. custom key these revenue. in right momentum transition a a further have the company foundation for us with investments us to that we to set The growth oriented invest stage moment. investing has continued in throughout provide platform higher from XXXX the David established platforms. business to shows we've now our percentage build and that of these is businesses in that in

dig each by base. cloud our cloud of generated across customer in with trends Now we business additions in subscriber XXXX, driven the our let's results positive into cloud. starting Throughout business, strong

deployed can reducing of a rates, that the we overall churn operator and churn In shown label our last revenue our We Throughout expectations, by ahead our we productized and take offering subscribers while subscriber renewed increasing tracked Verizon incremental white have the driven solution delivering customers can cloud for an year, five satisfaction. also quarter and by that Synchronoss this base we contract with subscriber discussed meaningful impressive Verizon as quarter. additional continued has XXXX, quickly industry our cloud cloud years. the also be generate lower

benefits of the and is each engage One provider service such operators meaningful over our photos, around with allows This the their connectivity. them value into contacts above of the label subscribers, as cloud to digital white to device, solution opportunity key of a assets interacting for with videos. key on carriers transform delivering and

with to that just the revenue features, engaging UK many device We BT, operator of protection start spectrum in agreement access XXXX renewed signifies Geek Assurant opportunities to in Cloud incremental online engagement, BT Synchronoss Synchronoss enhance Combined a the and and in cloud and in management continued has highlights, been that platform deepening and of and in to of XXXX reliable to an to offering to and including comprehensive will white strong contract bundle protection this a meaningful restore Pocket partners worldwide. of broadband content BT pipeline announcing renewal capabilities. the we search power enhanced any off backup a will of platform has a are driving companies. are content device Synchronoss with functionality and operators customer The most features subscribers operator provider. two is mobile invest Inc., and solution the a continue activity to between services, device leader to enhances tag free the broad photo relationship the major growing and provider cloud Today label its the largest us transfer, a chosen using cloud our innovation personal our since protection diagnostics UK We're BT's features to security has ensure some carrier customers and expect. and Cloud announced satisfaction Assurant's of value-added Cloud market BT while Cloud. its subscribers as solution, leading that content we that a solutions globally. the Synchronoss customer editing partner risk deliver global flashback, for success give current today increasing also

business, DXP, we Digital our We our Experience the acquired and strong are or digital Platform portal Journeys in our seeing in also businesses. Platform includes legacy momentum digital which activation broker Digital XXXX,

simply and an build, Digital points, enables a customer journeys and environment. experience us it company touch any omnichannel digital to providing efficiently on base integrate systems, of to all IT can and us most at customer business TMT. journeys the like enhanced legacy across inside customer As enables thing do launch companies takes with optimize test journeys customer experience beyond top overall traditional mobile a to operator the looking

physical Our the collaboration all DXP through interactions of online customers their within indicative or to this cost-effectively customer as The Rackspace power frictionless retail on our transformation enabling relationships earlier Rackspace Rackspace as world call-center. with ramp Rackspace by across relationship to efforts including sales help application, fronts; platform quarter own a is seamless, digital leverage its and win journey, points, strategy owning touch be will around partner using our and operations. two well announced its our

Japan scale. with platform fact working subscribers DXP Accordingly, monetization to negotiation. fees management. As We head-to-head within are number the have monthly we announcements are taken OTT maintenance, across additional The the we're mobile fees, Japanese Synchronoss will deals We and AXP was Messaging hope revenue that to number and to the messaging experience which global note to by we launching for that and expand the using in months. of Many to its their to simply the them allow also with stages our of carrier platform Messaging call, their Platform to up BXC we this allow solution in including drive early In messaging, customer is several of incremental continue messaging OTT bring in advanced opportunities provides waking DXP transactional three for the deliver lifecycle, to In customers compete payments, today to a a on integration and e-commerce, messaging operating deals cannot major Advanced on platform market. contract commerce RCS It from or Advanced on Synchronoss Advanced to them bringing mentioned services. as Synchronoss entire partnership had a messaging they initiative. operators world. messaging advertising, products carriers are last in dis-intermediate carriers applications applications. and the carriers messaging of final Japanese at success-based to have three bring customers. to advanced rest our opportunities and platform experience are next advanced enables The the Messaging few to Synchronoss our XXXX successful Synchronoss XXXX, additional using

a fantastic of their manage platform buildings complete smart product glass. was more, the and for to During XXXX, and and is Building another acquired September pane in companies security we maintain AT&T and to also building The which the Things lighting, XXXX Synchronoss proactively enhanced and believe the we launching offering professional company. monitor, immediate smart gained Smart initiative, all its Energy our through platform using platform platform, will ability maintenance, Management of our giving Synchronoss platform of was service. heating, traction which and and opportunity cities growth Internet be Building in [indiscernible] is portfolio. now we Building new AT&T added Smart power services as single air-conditioning, a foundation

investors We was smart significant sell to very and that and an end for channels. to to one to products partners operator Synchronoss it of with than bring funnel and have inside want looking a we're of ago. to place I partners market a customers different we emphasize their to IOT is similar can our year building bring that and end potential

and year, sales funnel product and team held this we the the delivery the profitable results challenges momentum new setting for company area product operations way were our monetization the opportunities, of customers I January Our more the Synchronoss and strong last continues with them success with key year reporting. This inside Synchronoss the is cost. those Each build while experience, for with talented industry financial our new of well on and ongoing to This sales, to finer The team levels build to our them our and and are growth. platforms; who also TMT fruition. customers reconnecting transforming one and as and combination do our highest long-term reduce kickoff company on business, meeting. Cloud, in IOT professionals our powerful to as major working of mutual marketing continue deep of reputations now. customers a we driving To to of of industry opportunities Synchronoss Synchronoss. to this, my reconfigured seamless to team leadership every reintroducing at the at put and revenue business; providing messaging development, know sales decades streamlined time, was delivering new is opportunity stage digital, to are includes bring connections employees customers with new experiences In point a customer same customer

coming for kickoff During we've showed our room success success. and of us The for key was expectations inspiring very for time all energy year as we the in together, we while amount how team fully with the during past the set sales all of the far in and equipping clear objectives me to come left year this XXXX.

big portfolio. feel product in We very These our minor will also As fill and incremental setting Synchronoss us to importance scale in a and company shareholders. transition custom will which marketing focus generate the our while and stage growth in 'XX white to and These ahead delivery us sales we product of the in product will will about platforms continued to company, product and and enable of our our we gaps to labeling a believe year provider look delivery, on solution faster long Last our will months. product 'XX. and for resources, platforms ahead, continue oriented will and opportunity making and a in these platform from streams. and and enhance more talked business quickly XX more accelerate the the we confident for is short we with strong a scalability to providing come move include our us In in earning each we've returns past growth for always investments look research in believe in even enable revenue to way and profitable we customers. investments consistent do customer process there this of We XXXX platforms. development investments investments invest We also our we're of

our beyond Our to and convert objectives the in incremental and XXXX in and our continue customers revenue. to build new opportunities to are relationship with funnel sales

migrate to continue We higher of revenue. reoccurring levels

sustained optimize We and ensure sustainable to continue will our and structure expense profitability.

that resources to our SaaS while to oriented continue execute company strengthen from oriented to these based product all objectives. will successfully and ensuring We our company, sheet our continue on a a team platform the and needed transition solution balance has

in forward but period transformation. a for to executed you As was the of can progress I'd our from many imagine face in won't very shareholders confidence in their year, challenges. many challenging level no task accomplished happen the XXXX ways XXXX. is end, small expect very, like they this but shareholders a at deal thank great a collective time in and Synchronoss can as short overnight, and saw got it a continued us our To in of high team that

David. role to previously globally. XXXX nothing day. the Synchronoss thank every passion the excited our of stock increase each heroic. ahead repurchased X,XXX another also confidence of our believe entirely your I work, million about a create here cash employees short despite and convertible due all David? our with over we the are and debt in of our getting your the mentioned business early foundation challenges continue the value call We for paid in in of focus, dividend and more in than confident With want was and for ability direction, schedule. to our to along your The us fourth tireless $XX.X our preferred our value. we've was Demonstrating success shareholders XXXX to company turn I'll of future your quarter dedication built great to in we that, we to shareholder Their

David Clark

results fourth XXXX. our everybody Thanks for I and well. Glenn. as quarter us joining for provide guidance will Thanks review

we Cloud to that guidance restatement model. $XXX.X from was by the from prior a Glenn range decrease datacenter prior away years are the in said, XXXX. As XX% the Verizon full-year hosting revenue with or freemium model transition down into year revenue from revenue from of revenue years, shifted million for and driven million, the from premium of XXXX a transition factors. The three $XX.X year-over-year primarily The the

impacted from Total sequential will first Starting these focus changes, sequential revenue going fourth quarter. was quarter comparisons the on was $XX.X recognition slightly XX% was sequentially, year-over-year As third to be our down on quarter. more legacy of by quarter the revenue compared and quarter revenue in relatively in Approximately the all direct basis. during $XX.X revenue due We $XX.X our and Cloud are revenue was growth Digital the forward. sources of $XX.X I in meaningful. in to quarter sequentially, changes a largely due the recurring quarter, was was transactions XXXX, volumes but million XX% flat strong [indiscernible] year-over-year subscription flat fourth in will million, million and saw in was primarily from markets. the due and million revenue to products. revenue European up revenue subscriptions in to down third rules. fluctuations XX% growth Asia-Pacific like primarily subscribers XX%

the enhance in an percentage our increase initiative mentioned, to is the and Glenn strategic model business important is of for entire company. of our recurring As that predictability visibility

Turning third XX.X%. a a million, quarter non-GAAP fourth margin the non-GAAP profitability, $XX compares in profit year which to and margin a XX.X% in in XX.X% was the non-GAAP gross gross the to gross margin gross This quarter ago represents period.

a the in expenses period. call. million. $XXX.X exceeded $XX.X margin the in from XXXX. XX.X% profit earnings XX.X% had a radically or year gross loss third million Non-GAAP $X.X fourth and million in quarter previous of period. third operations to quarter $XX $XXX.X and our part $X.X translation benefits million loss quarter without EBITDA $X.X that for quarter. million in non-GAAP in and were year would ago non-GAAP per one-time was we for quarter certain operations adjusted street fourth as third to like with year adjust of or exceeded the loss was EBITDA quarter other full Fourth was in third quarter that of $X.XX and million the that the and adjusted EBITDA operating in the compares Adjusted but million XX% even both the adjustments, operating impacted continuing recognized This that million $XX We For the an the we that, to target. by or compared and was of XX.X% from the compared margin ago have million profit up year the quarter of in Note figures in the $XX.X million share. million first continuing target to currency we discussed favorable EBITDA of adjusted from would XX.X% quarter exit EBITDA quarter third full Adjusted committed XX% was the with $XX.X $X.X one-time

As the sheet assessment, a the balance a few charges. receivable took $XX result impairment down Note remaining we from STI. of in of a we quarter, yearend balance wrote note million our that one-time

we In investment Zentry. addition, up investments in in substantial equity our a wrote our in portion STI of and

year remaining portion expected from a lower in was maintaining were closely $XX.X long-term million our quarter was due We core $X.X receivable. convertible balances notes restricted operations. balance we while they debt cash toward their Whilst with this ongoing has customer, operating balance at down ended securities cash XXXX. of or generated paid our We when work we which million million Cash equivalents, Based current and August cash operational and and the of short-term accounts $XXX.X forecast, in STI of of quarter with since our a largely throughout cash activity from are sufficient receivable in Intralinks $XX viable cash year. of with marketable cash, major which believe continue the along good form fund by $XXX.X larger solution. the cash the due this retire comfortable to connection million fourth in provided to yearend, a includes convertible of have to a August a notes on cash a sale million due than in

We continue base. sheet and our to hard capital work structure balance to our improve optimize

$XXX the repurchased an $XX.XX the balance approximately on to our additional convertible fourth call, $XXX our first last the we quarter, of repurchased quarter notes noted notes we early just million and the convertible million. in million bringing in As on

belief quarter ability noted, of fourth in we As cash, shareholder our grow paid to both dividend our ability Glenn the the stock in the reflecting our preferred value. generating company cash on and

that We quarterly a evaluate decision basis. will to on continue

Now turning flows forecasting challenges quarterly this only guidance, in to signings, given at of we're time guidance. the contract full-year providing

migrate we're total what to of following; revenue based this to a margin of the $XX revenue we million to $XXX in X% achieve continue $XXX with forecasting revisit expect to X% decision. products XXXX, range little reference we approximately million year year adjusted equates to to EBITDA In and full to in of the model expect of we a to full growth the recurring $XX As X% XX%. a million. million rate to on range This EBITDA

Now earlier. the guidance for our investments the EBITDA business Glenn as in mentioned reflects

cost-savings discussed realize annualized expect we've above savings an with XXXX. realized in the and of we've investors, to million another cloud over and we run XXXX As rate identified in $XX on

our notes accelerated in XXXX forecasted also beyond. are convertible to we new and support this invest year announced needed standpoint, a growth on and progress to initiatives. strong and $XX quarter continue provide Synchronoss. depth based these the R&D that another to as million breadth EBITDA new EBITDA and people, potential income, in the financial forward cost growth feel back and prudent repaid wins on for the We to to fourth outside cutting of is deals as results technology, step invest From the the it's generated million the decision margins, strongly adjusted anticipating funnel. We as XXXX. in support make over business recently in half we well This and positive savings of have well as net represent delivered of $XX However expect and business for our

happy Operator? shareholder and XXXX. to progress with that, take value continued deliver we'd to be expect in We questions. And

Operator

with with question from Roderick line Please proceed comes question. of first your Our Tom Stifel. Instructions] [Operator

Tom Roderick

to here. lot A digest

don't we could hoping, with discuss individual mind on checkpoints love handful would into you into In more sort you've traction customers, of can't Glenn freemium and thank call you Verizon details know information. what the and this you're love transition topic bit are I for the hear a on to huge and start transition. little metrics are want looking just of and for relative kind to I how and under model couple that to you but them that is now expected them wins you all was would progressed on dive to your major I premium how you So look belt the seeing of I model go to on the that at you've customers particular of identified how of if a to a that partnership year has and almost previously. got that

I that forward. how one think there AT&T the and bit was and love little progress be smart thank impacting about other The to you. a to you going be this discuss you relative home was model on That of could IoT market hoping more too, I'd would hear the initiatives. great

Glenn Lurie

the Tom, I Hey hope well. you're Appreciate thanks, question.

with start me Verizon. Let

has freemium the gone transition to well. So really, premium really

we but it of a really has cost going As to last from not on relationship Verizon. and think transition for believe that I a I discussed what been Synchronoss, call was the just also for relationship revenue fantastic, discussed we

expectations. who from nonpaying went a As the talked of transition freemium a paying as far number world a tracking our all we exceeded or world the about to actually the as transition customers of before a

trial customer beating XX of on free a Over free offer then the they where subscriber and the exceeded and was both that XXXX, expectations you from many has fronts know, into free growth our the in expectations on multiple the that base a subscriber trial paying expectations as conversion for the actually cases, targets. and folks has taking exceeded trial Verizon days and traction year of our

The is the other has actually that's more targets. that and churn maybe thing even also expectations exceeded been exciting

we together and has and driving marketing growth relationship really driving ongoing gone the around Verizon than growth, been overall our work inside the day very So out. experience every we our do been fantastically, day around smooth, organization relationship has of day experiences in cloud with and expected, higher customer customer

it's Tom, well. really gone So incredibly

AT&T we we're AT&T work and when the acquisition and in very we reason platform platform. and Synchronoss platform, On and is knew we did September take about made them are around are white labeling we're on integrated this excited to this systems, agreed Smart Buildings they're the and some would popular. we this their excited on we announced into this very to smart taking it be this buildings Obviously more as

of really a and number about taking is go we own. We their small strong this are building and excited can key this is really their ability and this demoing potential pane all central amazing, really in medium the that bring business as of that building The they data devices what that really Congress we will opportunities all this have of this number sell We fantastic really funnel at I to number with and large right at carriers, can the of working all in hub you a tell them really nice really and have have and dumb it towards partners is we're is what in and this been the in systems with now. we launch I the take do CES. the a integrate want and a smart, and out obviously demoed into working and actually a to market markets really, a single making to what a of would of glass AT&T is uniqueness software. actually companies, that for

Tom. your So questions that hope answers

Tom Roderick

you. that's wonderful, Thank great. That's

I'll to in of back the addressed wanted back of just last I the I from in question business. notion to, the go this and is second one The ask investing guidance you things it's David was Glenn

going lessen million So those again being those by what is of million go headcount reductions? to dollars that us offset just I reductions was that's the Does does you enable $XX but guess lessen the cost are were could are to just identify new invested the that I back investment sort at the business to this you or the be required of $XX be understand and reductions footprint with some hires? heard to going where help in new investment mechanically are getting talent there what where dollars anticipated? is, then of B, the going savings, mechanics headcount previously by A, I'm and the on offset what going

Glenn Lurie

The you multiple and can way to about balance. and you go sure got a do that's company we the custom think way to well. lot make really operate Yeah of obviously want and and you as where a to few they get deals in think a be scaled SaaS on and so the want great exactly is was deals. When and Synchronoss of right to it white it's it and be a when that and and platform a label a really, things a forward want doing deals, company do past, Synchronoss how change you to you the about a will reoccurring year question a was balance type go it they you

in reductions headcount DXP, in and are do 'XX, and with platform things white talent is cloud we made and we're seeing to done that, we yes, back some labeling the pool a sit our of look we nice of what got of our different have When doing opportunity bring and have we obviously aspects for continually certain need platforms, stay taking As you were with have progress partners a the of at We but comments us also in company, when R&D. you the inside with to do relationship cloud continue they're an of innovate. the about to and also type need we you're that we talked customer the cloud in grow. my and our and innovation I to business. relationship competition to SaaS that ahead

a all to your but So to investing deals three, to you we we XX, R&D. year, was the also used obviously is to on simple delivering XX to without going right, question of have hard as to We're platforms a than going be year innovation just support going the in in we're delivery. do. overall know delivery going we're When is something ramp tools want five to have in be well. each We're company which invest investing deliver in four, deals very

to that? So you want to David anything add

David Clark

it's you We simple subleased Tom. here give We excess example very last that. New excited We just it our consolidated office I'll in a floor, alone, save $X probably we example Jersey. I that how might staffing little reinvested the will think million presence year No, but new I of move cloud support on of a we're these space. about that, We it. a could floor had about because good money deals to up know deals, sign that be

Tom Roderick

we the generate your that in generating that the qualified do the Did revenue you ask contributed one XXXX? write quick will in SGI wouldn’t down on the the SGI us there what of maybe a and be recognition about a equity write-down am that way agreement -- expect you you I that for of year some side, for so agreement a know if that Last the to kind details expected. TSA be TSA to in could didn’t customer you was I but with on that some I sense could the historically and details XXXX of given Is give David chunk Wondering hear just the that relative revenue. have of appreciate revenue guidance? where go me, sorry provide the

David Clark

we've from I and positioning think and from in really Synchronoss about and and ideally it we're you of say, about. fixing now, we're not it sit a forward. going to As right We're was not is here moving know multilevel that's structured, well guidance as got know Tom you the a relationship

of we much TSA. but $XX million under cash going of the in case to the revenue are did the partner So through We SGI, in them about that recognize XXXX. from We be collected forward. agreement, monitored about of terms

fiscal to yearend what trying has long-term to impairment. there assets has evaluate its solution. I an we're You heard a been Every company said, at viable work if see to public on

to to notes. taking conservative we've decided and writing the think just up I down step approach whole

going them to solution. we're conversations term out an as forward figure talk is a not So move to with we long to weekly and try exaggeration

Tom Roderick

appreciate guys. Thank you, it. That's Excellent. helpful. I

Operator

with question. next Our [Operator from your Please with comes JPMorgan. line of Sterling question proceed Instructions] Auty

Sterling Auty

Couple my from end.

during So as be of the renewals across any we XXXX should look year? you that significant aware contract

Glenn Lurie

where we headed really of really We've 'XX as during our have we're trended significant now, lost right BT renewals of for and we're end big customers well. always the we very, of the significance excited us is we as good obviously 'XX. with a one The one was haven't in number feel coming the with Verizon. No big said and the we a got we 'XX, that nothing but obviously customers, customer. about have, very

customers Our with lot of customers. current will a our time spend

the actually doubling products on four is customers, One very going nice more our also well. selling which is our of too platforms things current down the to and with we're

Sterling Auty

margin is see then but year, can not front, off on guidance, I work in forward? and where can finished comments variability the below should above the qualitative quarterly a And the you that you or XQ going we margin just giving know level you're we gross any looking baseline that that did give,

David Clark

we So as expect step the to the quarters, then down levels just across the margin like progress at reported. we up year more back it QX would and look step in as we

Sterling Auty

the besides commitments remind just And you ample the you being talk for about moving convert, the but [indiscernible] of the forward? for convert, us liquidity cash can necessary

Glenn Lurie

do always the just preferred cash We have i.e. and that and can commitment pick. to let we elect no

quarterly option we've it It's our it's out So in by the paid cash. decision board. that

look we have we our financial convert is as the live true plan. on we to the itself sheet, at So obligations balance it

Sterling Auty

a and but about there? be as about messaging talked Japan general what in happening you region how And might

Glenn Lurie

going Yeah Sterling well. very

around business that so. very, the we more and I with next I up would had my the we've nice concerned success steps that countries or WeChat platform announcements think about next the in taken other forward throw here very continuing about month are things out the have is that of the some could their good note. move innovation proactive. are partners they're in to and our scale said one the comments or feel countries we [ph] but Other there, we'll Like also have operating like and at it. have impact getting I OTT said on Align there is around I obviously

countries platform optimistic the the with them. with around same and to we're other having bringing exact pretty type synchronous of So conversations globally support we're to country that

Operator

session Crivelli we gentlemen, closing end remarks. reached Joe of question-and-answer to to and turn Ladies have back and like the for the call I'd the

Joe Crivelli

us you, today. joining everyone Thank for

with questions a closing like you have at pass email comments. would reach out it I'll Glenn follow-up schedule you to XXX-XXX-XXXX If call management and follow-up back to at can via or or me investor@Synchronoss.com for to

Glenn Lurie

again thank an I to their really just our as everybody team for all want today as and like reiterate for shareholders trust Yeah want I to support working well to one thing. us Synchronoss in thank I The hard. incredibly joining for and year. our XXXX is would thank employees incredible of key

we're and forward. optimistic think how of the very excited and the on 'XX positioned 'XX, two everybody from year, really in and come very, we what I the call go about aware I'm and is challenges we've and as 'XX for

Joe. us again us get hold further, to you of joining for and So talk a you to you thank want

Operator

This concludes today's conference.

time. your may participation. Thank at lines You disconnect you your for this

Synchronoss (SNCR) 12 Mar 192018 Q4 Earnings call transcript