SNCR - Earnings call transcript Q2 2022 | Synchronoss Technologies, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon. Welcome to Synchronoss Technologies Second Quarter 2022 Earnings Conference Call.

Joining us today are Synchronoss Technologies' President and Chief Executive Officer, Jeff Miller; and Chief Financial Officer, Taylor Greenwald.

Following their remarks, we will open the call for your questions. Then before we conclude, I’ll provide the necessary cautions regarding the forward-looking statements made by management during this call. the remind available this link for Investor section to recorded will in like synchronoss.com. Relations made at and replay of would everyone call that be the I website company’s via a

Now, I call Synchronoss' Jeff CEO, turn Sir, proceed. over please to Miller. like would to the

Jeff Miller

our is copy thank XX, listeners Welcome the with release Investor open release us announcing review the of section margins, our results for for press we'll today. highlights, XXXX. our issued After second you, drive for operator. our you discuss the recent we press level, the available Thank in to and updates call it to quarter. improvements demonstrate today's the encourage high the Relations it what we'll for of in the strategy, I for be our and and a After quarter a all continue release I'll another gross Taylor and cash over of June discussing that, in ended additional on quarter up positive financial to our turning to second A website, forward before flow. information we cloud-first everyone, performance From a and joining profits start step visitors market today. closed, our and questions. as marked view results

or represents period, year-over-year or we now XX%, XX% of XX%, the our During grew revenue revenue. cloud two-thirds which total by

revenue achieved row. year-over-year recorded the as with a launched deployment, also in our to and operators, marking second strong continue we $X.X just increasing while market which the expanding growth initial in cloud in door verticals. new with the year and Underpinning global of purchases solutions cloud flow solid strong from recurring consecutive Despite consumer core able service global platforms software offering, growth of wireless bundles cloud slowdowns in the application were access by the impact, and and to offerings handset spending, highlights in achieve the adoption million two phase markets successfully Telkomsel personal our value-added expanding This new some in our continued the existing consumers, relevance to to environment drive customer customers. we the mobile decision-making, combined growing customers of inclusion new last provides, XXX delays our the in of In to an accelerated of revenue. causing period Indonesia. unadjusted adjusted increase adoption cloud and of and opening adoption with in to customers, premium we favorable weeks, from potential the to our revenue and our fixed into this few at million, quarter. our additional Our cash of a successful fourth overall existing was nature double-digit growth the is million for customers up in year-over-year $X.X quarter demonstrated our growth income, ability subscription-based cloud cloud second $X.X which drove quarter our XX% our net our Operationally, improvement product million, subscriber in product the remains metrics marked quarter led revenue this XX% revenue positive cloud launches subscriber pipeline The profitability period. a of and to $XX.X positive Financially, we deliver free million prior loss free of the vast quarter. flow cash new

profit accentuate the second beyond, our strong business, the to half flow. and focus composition and on of our year Moving free our the cloud cash profile while to growth of business, simplifying remains driving of the

in core product business, the as overview, bottom that further cost I'll provide three within increased generation progress enhance and experienced sustained growth made $XX.X cash revenue year-over-year growth, our momentum-building Beginning the Cloud best our we from Cloud We of Cloud million indicator to Cloud updates is high-level we in Invoice each now strategic of with management. another the cash we revenue, quarter. which Operationally, expect clear XX.X% priorities. continued three improvements quarter for through in our proxy line quarterly subscriber in a business. the With second groups.

reminder, customer one, and a these As our customers; anchor in features. to new number expand protect priorities and sales subscribers to include: grow three to through existing deliver two global our base

existing continues, with as strong its customers growth progress subscriber Our maintained pace.

of as life opportunity providers critical indicator users important the we our the introduced two increasing drive they are customers device existing QX XXXX. activation improving Cloud quarter our Cloud our earlier, to XX% digitally our offer the to in to, in our fundamental solution our fixed are existing of upgrades mentioned XX% operator as the and such because pay factors to solution adds for services growth, to attention cycle of Device As I'd an solution the including from of growth upgrade both and the another because contributor during I Gross offers are device users volume new emphasize consumers. value-added workflow. Cloud and it add gross growth to most mobile some service key existing consumer second with in represent to in white-label like that for subscribers, process. customers year-over-year receive growth customers, new factors point they wireless driving a to towards that the for upgrades presents another briefly direct

the vast as of and for Tier resulting X providers X improvements believe saw opportunity additions results penetration with were consumers overall long-term that and of combination Verizon our So we existing of base the application device our marketing expect trends customers for through second while strong with subscriber gross customers growth penetration We we our we The our and customers. the net for our increasing regarding mixed the the of sizable to can is customers' increased continue Cloud during growth these Cloud we service global growth. we reported quarter sustain customers. AT&T a such double-digit as our target upgrade to healthy from Tier catalyst and saw -- year-over-year subscriber adds

expansion, we've as Moving Indonesia's two, Telkomsigma. of mobile noted Cloud solution, of we by premium available which launched continuing with mobile operator. the IT and Capital year. center earlier with million the to Synchronoss bundle Earlier intent solutions traction demonstrates mobile a of Synchronoss letter country. Synchronoss priority this that region, making in is Cloud to XXX in universities customers This month that global directly two solution throughout be Street to industries industry Telkomsel opportunities we with the their new services looking also at the use Cred a is gain subscribers rollout in major illustrates the success provider new solutions Japan Telkomsel mobile milestone we're and following arm last launch relationship market end Floudrive This beyond The expanding retailers. today APAC back the its purchase and personal that previously, Cloud largest customer has and operators, data mobile Cred that at Kitamura, This Telkomsigma year. Capital the the our now is of signed powered announced, to the we're Synchronoss device how personal that global north of financing fintech the as to apps among customer with and build we'll further is our finance new -- in their accessories. retailers. of use and expansion, allows cases regions, with another other companies solutions and across to for This in products along service of cloud leading example our pipeline providers, Street offerings. the upon customers insurance North American the MVNOs, Cloud, pursuing of is half such Cloud

of Regarding, platform introduction further the enhancements.

Synchronoss with our Alibaba enables deployment Cloud to the our platform that service, certification Cloud. Personal in the choose During which Cloud the we the the second Personal quarter, customers, deploy announced they hosting flexibility and of further their

cloud the role available with certified plays the recognized Computing winner, content Personal the ensuring across worldwide. and global creating within in Synchronoss Personal for use XXXX to XXXX the this solution customers that and underscores, is of technology to safeguard we was while in devices Year most solution services new of deploy been cloud, our companies of adoption We drive experiences security, accessibility, Award The Cloud previously on Amazon share officially innovative of in for Also reliability cloud Cloud. types were beneficial to Our products today. recognition that additional as the Magazine have Product and and Computing Services recognized believe Product Alibaba provides for of the Year certification Web avenues millions subscribers. Cloud as manage Cloud with of with past an year. and personalized digital June, The all array our

enhance offering. they services for engagement Japan in first customers in purchases advanced Turning consumers. for Messaging a team of a recent Japan, RCS core project resulting and by migration million marking migrated was our consortium, the core with fully visit we their X.X to completion completed to the significant our an continued or well The e-mail as our deployment hosted additional I the execution professional In care, in a solution, service, demand provider, platform. a applications business, with of to as multinational leverage third-party to subscribers, internal in service capabilities and a license the the from company as customer plans on Altice, Messaging to solution, saw additional their and competitor saw we Japanese for telecom with of encouraged brand +Message our Also our AWS. this e-mail quarter, the away engagements

the e-mail allows customers core e-mail we globally. and Additionally, solution to deploy Google our on Synchronoss which the scale and deployed Cloud certified platform, suite our

solutions. exemplifies and customers, focused and way successful complementary that's support remain businesses And flow our driving our certification existing cloud with profitability in business. while and Google Advanced Messaging Our a compatible expand our to cash opportunities e-mail we the through on supporting of these in Cloud,

the an successful in Moving sale improve second million. closed focus products. growth planned we both balance all-in iNOW to us May our and The – sheet. operations. significant the development in the additional an the of of platform, The Activation, to in This help DXP digital most capital iQmetrix. us quarter our to our DXP to provided QX, divestiture and our and year-over-year was our of digital to It analytics saw of up of solutions and financial goal in assets simplify carried business. Activation step transaction experience with in important our consideration divestiture and was activation Despite also our $XX

a we digital business and profitability healthy the forward, drive steady Going for revenue stream expect to our company remaining overall.

the the trend increasing cloud pervasive is to include leveraging is These offerings XG Internet long-term developments. cloud they trajectory. reduce of our flow generating in Synchronoss sustainable to that wireless progress second messaging and of always, trends XG recent progress a and communications These on positioned on operator these expansion, mobile trends, to quarter to are delivering enhanced reflect that proven Synchronoss' engine. our bundles cash inflationary to and those to income that well particularly consumer quarter bolster total and And a to In churn is our Cloud just total and that operators greater strategic emerging growth pressures are growth as market wireless bundled user macroeconomic and consumers. coupled environments prioritized bundles we and improved protection protection expanded Overall, leverage represents residential access access maximize in performance relates now for strategic is global our the achieving and provide customers seen in discuss frequency, metrics plans. being array turn Tier that's raise with today bundles and service as an results a a gain bundles average demonstrated represent such over as premium looking profitability solutions, for I'll enhancements, these growth economic from operating to advantage towards is customers. alluded market, there XG and we're tough attract significant insulated focused through bundles share bundled per capitalize and the the and investments. consumers the the Synchronoss experiences. positive services industry in XXXX. for our deliver home conditions it and ARPU market I've flow to strong, tailwinds capture of These into value. turn the play Global significant new opportunity addition cloud net pulse both, to such calls, application We do high deliver to which further fingers services. Synchronoss an of and is as Fixed in and providers the for fixed Operators highly appetite all broader represent home seeing believe expansion positive network And X take to an strong for consumer and free quarter. it advantages Thus making our by keeping enabler on service an cloud for by at financial especially are be today's are integrated both plans, to which detail. Taylor? tailwind results consumer security cloud And also in there's intended content. we'll of existing be as offerings include financial positioned at industry our indicate that premium greater business to summary, unadjusted on a for As their of Greenwald cash our access, to them that. With to CFO, high-speed solution telecom share Taylor We're digital momentum greater to salient some for the protection many as value-added to well revenue applications degree consumer pursued offerings. the near to improved of call these is market. enhancement that, in

Taylor Greenwald

Thank you, Jeff.

of to our indicators, business. performance metrics to discuss on serve our the which our as key like leading Before briefly success financial I some I'd results, move for full

sustained growth second prior revenue. contributed the a the the year-over-year the cloud to by cloud a accelerating are our revenue, increase gains year. quarter in to cloud growth XX% of increase driven First in compared XX% subscriber in This XX%

revenue quarter. increase recurring recurring of basis second the messaging was was first cross-carrier of revenue occurred total million, revenue X.X% XX.X% of increased or reflects that revenue the XX% revenue $XX.X to of the Looking business XXXX. increase revenue dollar and XXXX. a was XX.X% and year-over-year improvement total initiative of performance in clearly XXXX, increased to up quarter. focus an on in of to in This This strategy product, cloud XX% is On cloud our make at XXX dissolution up XX.X% XX% first cloud revenue by points year-over-year basis total revenue in $XX.X million the from in of revenue million. primary the million revenue our driver million from $XX.X $XX.X made Messaging recurring subscription revenue. in of the was non-strategic Quarterly made XX% down revenue Invoiced of the was Digital as basis of up to cloud due anticipated XX% $XX.X down million due assets total the first to in of by The driven of up a year-over-year up revenue. and the quarter, was a company. revenue from year-over-year growth and an dollars quarter. on quarterly in year-over-year the divestiture million, basis, XX% $XX in increase $XX.X XX%

of intended a within in cloud of our transparency by reminder, As the and growth Invoiced to metric more this in the revenue provide in cloud trends revenue our business. trajectory the impacted and core business. changes deferred represents period and of a accurately revenue earned business. is underlying is overall displays and is cash the direct Invoiced the unbilled cloud revenue reflection health not greater revenue

to customers invoice quarters continued subscribers grow flow, online. expect come and improvement our driving We as revenue in of growth cloud new in cash future continue

as was revenue of of by offset contract to Total to the XX, from million well prior approximately X%, $XX.X second due year million approximately or subscription Growth cloud revenue for $X $X in the and Turning company's in received company's CCMI million digital revenue million in from quarter year. quarter the the lower revenue DXP prior in million divestiture. now ended results to $X.X June $XX.X the XXXX. the decreased second our Activation financial as

Messaging revenue The to a gross gross from from attributable operating Activation of company's expenses, savings a Messaging or DXP messaging period. revenue $XX.X sale was multiyear benefits to million margin increased total revenue profit growth or to gross revenue from attributable Digital cloud and in revenue, cost company outpace operations a increased noted million million, to revenue decrease of profit and is record year income subscriber resources $X.XX $X.XX positive to $XX.X the to forward. cloud last of greater primarily or XXXX. X% of from was attributable our expect total This reduced primarily efficiency exceeded the continue XX.X% quarters, the growth, compared Gross initiatives Net The $X in in divestitures. for and XXXX positive a the impacts a to share in and XX%. The or EBITDA high the XX.X% was and decreased the We implemented going year in Income recapitalization. and revenue, period. $X.X share a the savings has than XX.X% initiatives. cloud prior per previously million, in the result revenue cost was from and quarter to in of business dividends which dissolution $X.X CCMI was cloud divestiture. increase the increase was the and million $XX.X percentage The initiatives, second and during million, revenue the margin decreased license of year high-margin loss June of compared net more in growth a improvement to EBITDA net margin income from resulting cross-carrier SG&A The ongoing adjusted negative loss in million, and significant messaging other high-margin of or million, in year. R&D subscriber XX.X% $XX.X EBITDA the revenue improvements adjusted savings Adjusted in increased from period. income four margin lower throughout the resulted the a the Activation the DXP per company's million, cost from from or to offset initiative primarily $X.X prior stock time $XX.X improved preferred operational improvement from increased prior X% in

were and adjusted to at and cash XXXX a $X.X the expenses our balance at was June $X.X positive cash restructuring million legal the and March Free excludes flow, XX. a $XX.X Cash $XX.X flow charges in with was equivalents to associated matters cash compared XX, positive quarter free sheet. Moving million million. million which

addition cash results, positive flow to was In to million Activation tax in the favorable of refunds. operating and the the quarter million contributing $X.X $X.X we line, during flow the free Below from the initial proceeds received received divestiture. DXP cash

reminder, refund from assets, quarter. claims $XX sheet prepaid $XX a balance within the our approximately million the of million at of tax on included the down end As first are

from refunds manner, June, estimate preferred As to quarter the I refunds remaining the tax difficult and Securities received applied It's believe the relates just when a when reaching and XXXX. funds, the remaining announced four remainder to in We're resolution down that audit. preferred I we progressing. transactions of of customers Commission, a they $X.X those to pay our from the shares for restated company matter and proceeds financial for key a the the in received. under outcome historical mentioned, In data us for request resolution intention be XXXX that our stakeholders. IRS Exchange data and almost in responding is have the It's the shareholders, is US item, our this we still outlook the year. use right successful restatement tax now, years we redeem the other audit This second regarding of are million ago our to timely to audit by The IRS concluded. legacy we the and to are to will One shares. discuss investigation additional selected before

million to settlement, agreed civil the bringing penalty to sheet with has balance initial equal our $XX.X in associated the down Synchronoss The the out in be a operating As reflected years. liability cash over pay is our quarterly total, to from million quarter's in settlement, results, part amount installments two on in payment quarterly of million. SEC the $X.X $XX.X flow paid this of

Beginning guidance. with to Moving our KPIs.

of growth look we XXXX, rate year-over-year expect a we subsequent subscriber to the As continue at double-digit cloud quarters. remainder in at

X.X% expect we growth in also the of continue. Our to Invoiced first Cloud revenue XXXX, months and six has this grown

Moving to our outlook. QX

third quarter the revenue and prior approximate slightly We the not of to expect levels. and revenue in which impacts recognized of to of recognition quarter Activation in from repeating from deferred consideration not the third revenue the second This $X in divestiture and from the quarter second $X DXP million down EBITDA quarter third approximately business, into be also quarter. repeat the cloud assets million the will in and non-cash the takes

free fourth we still receipts tax positive year, to results nonrecurring flow due cash adjusted management be for the to flow cash cash the quarter basis and and of expenses. to the an While refund quarter expects and comparable on expect second timing third decline, to

we XXXX, cost basis given on cloud to be unadjusted the down to of to positive cash our and trajectory actions, business the drive our taken we've ahead an structure. Looking flow expect

to to be of million EBITDA strong. We're XXXX previous range for also remains $XX to $XX and the we're comparable million full adjusted to a our sale to customer performance million subscriber XXXX adjusting have million $XXX revenue $XX Activation macroeconomic range DXP healthy some $XX range as For of narrowing our to million delays $XXX continues and of growth decision-making in narrowing previous expectations we assets. million. environment, success million, million the driving and year, from $XXX million, after year and the XXXX continue pipeline sales $XXX profitability. The Despite for is from expectations to our total a between GAAP fiscal $XXX revenue

our strategic profile in growth to provided margin to business initiatives and simplify drive evidence improved quarter second order the further The are positive flow working. that and revenue cash

back continue. the of call half XXXX, I'll to second expect these now XXXX the over into trends move will we and Jeff. As turn we

Jeff Miller

Taylor. you, Thank

length leave devote to go August XXXX, a absence final XX, family be his I medical Effective for to Synchronoss have of him of into Before The of acting will of Taylor August Greenwald that effective leave XX. Ferraro leadership, manner. from to taking to but provide Q&A, update. time, at Lou has of care we personal appointed CFO is this absence to the one unknown role a Board Taylor's time allow of ensure I continuity the and Directors

Given of Lou's business, prior his stakeholders. experience family boosted close performance knowledge his relationship a finance our CFO with we the and best send of with deep the the team. a expect team, Taylor's seamless the transition quarters and his finance external We and Taylor leadership working wishes certainly both challenging during our Taylor past internal has time. and several over

to the as like gratitude as operator Q&A. smooth Thank it possible. to my make he's transition the done turn I'll you. work I'd So, for for personal this to over now express

Operator

question Thank Riley. Nichols B. you. [Operator Instructions] And our comes with first from Josh

line now open. Your is

Josh Nichols

subscriber that revenue on the of see my to taking growth cloud and Great double-digit the for piece Thanks business. question.

call. during know macro bit You there's a is that circling. touched little on a it questions the of everyone I lot

translates to your are that home that are trajectory? but carriers using I'm of revenue how there's anything guys the you bit the mixed that adds, a different But seem net or more relatively seeing fact insulated. specifically churn juxtaposing the in could been about Internet on carriers XG is cloud little from customer to that the people of curious You talk pushing about, and as well reports how adoption be terms kind you're business, and

Jeff Miller

with wide the particularly Josh you, by subscribers. in And there been for adds to made Thank and States operators, of question. reports growth certainly, United overall regards variety a in the have Sure. net

I and like growing year-over-year services. some comments, my presentment basis if do those saw that solid some and deeper a year-over-year rather been bit a have favorably of still adds upgrade. And fortunate, mentioned little on Similarly, We into gross for factors a were the activation in the XX% fact metrics of contribute cloud Verizon. to as growth for look of you they in customers the

what you're cloud us growth States is many the since include entirely United like bundles, and was feel premium that also despite seeing be wireless area to all will including mixed of value-added the combination subscriber solution services even has United avenue to that as double-digit growth. But out signing up And plans might continues hearing believe factor the well. that's make we US new in And outside some market. for subscribers to fixed almost us for it then insulated operators on a across the globally, of Home things and of benefit growth more year all and get we a the the we our those States Cloud an where that that's finally, the those in getting market that not continue, that we and That's pervasive subscriber from fortunately now to were our another the Cloud. of So, bundling have one messages that degree. our available, is contributing ago present new in The be have access. adoption continue and XG that confident there net that adds for

Josh Nichols

can bit I more you for And back had? know helpful? would million $X more regarding you about granularity was is little on a but bit, the the the XQ that quarter. really be three outlook said, any the revenue know just provide EBITDA those like bit for a little half particular and the wondering in you revenue outlook, I you details a specifically much would Thanks. could related the down provide a how And little of segments if that to that of be divestiture

Taylor Greenwald

Yes, certainly.

ended deferred QX $X So if revenue QX. we we that look not about at in that million the Cloud in repeat of business, will have

going the expect growing. of to couple those to the to growing would is as an business past Invoiced yes, messaging really to we we're the quarters have that And then continue the the as Cloud businesses a key which in from the basis, we cash generating, GAAP true revenue of So some from line. on the I continue metric for But revenue, see grown. that say, business, stable have business slightly terms is headwinds and digital

of Activation not third the couple As growing dollars quarter, in second of to the there we and million related slightly DXP on mentioned but the repeat business, was to QX. to be a will headwinds that the quarter, digital stable be revenue for will businesses it's those

Jeff Miller

anticipate I And purchases in growth case, the will market. is that that the add the +Message we see case, our is there service only as that Japanese often be in license operator that the messaging the that half, continue we in typically of primarily additional thing as to in second business community and would adoption

Josh Nichols

Great, thank you.

Jeff Miller

you, Thank Josh.

Taylor Greenwald

Thanks Josh.

Operator

our One And from Thalmann. moment next Ladenburg with Hickman next please. our question question comes Jon for

now Your is line open.

Jon Hickman

little Could bit Hi. with a elaborate what's happening United on If in States? anything? the RCM you

Jeff Miller

Yes. Hi, Good afternoon. Jon.

mean RCS, messaging... You the RCS

Jon Hickman

messaging, Yes, yes. rich

Jeff Miller

Yes.

as last So, discussed Synchronoss the the running with a in States. United platform. Verizon fact we've now service their Tier carrier on And here time, in launched a now we has up RCS X bit and

However, that limited of and limited that it's platform are of as utilizing a number advantage say number early a are of taking well. still brands and days have because that, that they it only I devices currently

bring it's of to that brands working our of that to utilizing of that that consistent well But as provided. they're speed the bear. all Android We would new up continued RCS operational. with pick But expectations across of Verizon through platform revenue completing they're same the more app And Some to we've expect aspect is still half such on some that starts the matches XXXX. interoperability platform. and in It's year which anticipate RCS really that is is devices the guidance I to running. proliferate access the and the up and onto new second because US expansion the bringing as brands this carriers

Jon Hickman

that is going too? the be platform So on to iOS available

Jeff Miller

with It It will is. Android. primarily start

that operational, really In community be that to time one device there's but position that's currently as expand iOS we in well. support today, Samsung over we'll fact the we expect a and them, to help

Jon Hickman

Okay.

Jeff Miller

Android the there store service app we've app operating that's that there three create Japan, and RCS we we And iOS in consistent operators single just consumers support all on utilizing Japan the have of where to a in corollary the downloadable systems. that's in what with we and done both enjoy a for

Jon Hickman

How many this is devices in available Japan?

Jeff Miller

that there. million believe XX announcing soon an and milestone be additional over Well they'll we

So it's in pervasively market. deployed rather that

Jon Hickman

Okay.

fair app would it say use the be able service? phone is pretty you So that Japan download the any to much in and to buy

Jeff Miller

provided Absolutely. Android the preloaded app And all launched operators market. The in devices Synchronoss typically in by fact is by that to +Message three it's that's preloaded.

Jon Hickman

that to the United you Do anticipate States happen here in sometime?

Jeff Miller

that messenger We and which anticipate Google will be solution the will the used operators that app RCS the made be that the They've entry client, US. in they'll using or across essentially in door States, for the all be to positive the brands a to RCS United effect. brings ubiquity more bring universal that's announcement time. consumers more that that think bring a access more will because accessing very we and We it over development public will and think and

Jon Hickman

get remind on you you that? us how paid Can

Jeff Miller

to we Once market where as based going the the messages, would upon States, to the In revenue today minimums, have generating pick per on supporting minimums. on the starts in Yeah. grows. it's on that United currently volume on be a be platform volume we're then message platform. up basis the paid message based and We

Jon Hickman

much. so you Thank Okay.

Jeff Miller

Thank you, Jon.

Jon Hickman

helpful. That’s

Operator

Latimore question Michael Our Instructions] next [Operator you. from Northland Capital. with comes Thank

Your line is now open.

Aditya Dagaonkar

This of Latimore. Michael on is or behalf inflation there's any Aditya if on color the sales even growth on Hi. cycle? on maybe recession your or subscriber your effect some you possible give of Could

Jeff Miller

Inflationary pressure was that the question?

Aditya Dagaonkar

right. Yes, that's

Jeff Miller

the costs inflationary business. it but arena, activities or may seen negotiations operational right for now pressure the not that commercial any the in as expenses We in pressure with material and some pertains to inflationary to date. see in indications not We've customers payroll

We in helped fixed That a allowing earlier. And a some to services more a us price. including we consumer mentioned oftentimes, colluded that are bundles are cloud, believe, get for some we contributor with that's to I as fortunate avoid as greater value has these pressure. that being inflationary degree, of to

Aditya Dagaonkar

All the right. headcount? your me, by what's it the you end of And might Can do think you tell be just also what current year?

Jeff Miller

we to the year. headcount Current what and end it expect of by be the

Taylor Greenwald

Yes.

but probably We year, relatively I significant changes. the rest So see throughout may drift current don't employees. bit, see our stable approximately is little that of it the down a headcount X,XXX

Aditya Dagaonkar

Thanks. Thank right. All you.

Taylor Greenwald

Thank All you. right.

Operator

to closing you. remarks. Miller, portion the the hand time over Thank Mr. back At this for -- to I'd like this any conference to concludes I'd Q&A like

Jeff Miller

and dedication would to on in it I'll results like made their unwavering innovation days meeting, thank and many always, and dedication. for to of you to weeks these and and today you their to we interest us hard thank the you. for to couple call, our We your to We for as And and you. those our next work Thank time you. that over excellence possible. course of team Operator, you thank the back have We investors. and Thank who Synchronoss want your to customers all, forward your I continued support. of appreciate for joined company turn commitment the the look our

Operator

Thank you.

provide call, statement Before today's would conclude regarding cautions I harbor to forward-looking made important this during like call. statements includes safe that Synchronoss’ we

discussed securities and During not factors comments Any forward. business to that meaning this management comments company’s that company’s market our opportunities certain the about today plans forward-looking call, influence These should within expectations discusses statements applicable particularly and performance. future of include are the of laws. factors are historical, prospects likely are going forward-looking considered statements regarding the be

non-GAAP update the new EBITDA. otherwise. Forward-looking call expectations statements any or of including could as company whether does description in which XX-Q made All revise financial future cause and today’s a note this encouraged are risks. as adjusted to risks call, events, a results management result are its listeners are number for to obligation SEC of to to as materially. such measures, discusses and statements company’s of certain any uncertainties, these differ throughout or undertake during Statements XX-K information, most that changes today, actual filings, the forward-looking not such review Please subject also and of recent a made

are Although of reconciliation does operations not you for the deferred second conference by GAAP the for development. adjusted and Technologies’ differences as account items derived reported the presents Synchronoss non-GAAP a software as generated call. or EBITDA in not reporting the to for GAAP describes the company’s non-GAAP us periods Thank between such and today revenue XXXX earnings from release for numbers, the [ph] measures capitalization earnings joining quarter does Today’s release. it necessarily equate cash

now disconnect. Everyone, may wonderful day. You a have

Synchronoss (SNCR) 9 Aug 222022 Q2 Earnings call transcript