Skip to main content

Synchronoss Reports Accelerated Cloud Subscriber Growth in the Fourth Quarter of 2021

Written by Customer Service on . Posted in Public Companies.

Increased Adoption from New and Existing Customers Drove 18% Year-Over-Year Subscriber Growth for Synchronoss Cloud in Q4 2021

BRIDGEWATER, N.J., Feb. 02, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today reported an 18% year-over-year increase in subscribers within its Synchronoss Cloud business for the fourth quarter of 2021. The 18% increase represents an acceleration from 16% growth in the prior quarter and 15% growth in the same period in 2020.

The key drivers behind the Company’s continued cloud subscriber growth include further adoption by existing customers, such as Verizon, AT&T, Tracfone, and Assurant, as well as the signing of new Synchronoss Cloud customers in its largest and most strategic business segment. In 2021, Synchronoss secured cloud contracts with four (4) new customers, including Allstate Protection Plans, Telkomsel, TelkomSigma and Kitamura. Allstate Protection Plans launched last year while the other three new customers are scheduled to roll out cloud offerings in 2022.

“The strength of our cloud subscriber performance in Q4 2021 reflects our commitment to Synchronoss Cloud as the future growth driver of our business,” said Jeff Miller, President and CEO of Synchronoss. “We are continuing to place greater focus on this strategic platform, delivering new offerings, feature enhancements, and user experiences to support our global expansion. We entered the new year with strong operating momentum giving us confidence in our ability to deliver healthy, double-digit subscriber growth in 2022, which should translate to greater topline expansion over time as new customers launch and existing customers ramp their cloud offerings.”

Synchronoss Cloud is a white-label platform that enables users to backup, sync, and organize photos, videos, contacts and more between any device and the cloud. The Synchronoss Cloud offering is currently integrated into a range of mobile and wireline service plans as well as other bundled offerings. The platform provides an easy way to securely manage, share, and safeguard all types of digital content. A feature-rich personal cloud offering gives service providers the opportunity to create new services, provide more value for subscribers, build brand loyalty and bolster their bottom lines.

Synchronoss will provide more detail on its cloud subscriber metrics when it reports complete financial results for the fourth quarter and full year 2021 in March. The details of the conference call will be provided prior to the event in the coming weeks.

About Synchronoss
Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.

Media Relations Contact:
Domenick Cilea
Springboard
dcilea@springboardpr.com

Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Group, Inc.
SNCR@gatewayir.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.