Synchronoss Technologies Inc. (SNCR) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
200 CROSSING BOULEVARD BRIDGEWATER, NJ 08807 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7371 - Computer Programming Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 24,572 | 21,921 | 31,504 | 38,990 | 103,771 | ||||
| Cash and cash equivalents | 24,572 | 21,921 | 31,504 | 38,990 | 103,771 | ||||
| Restricted cash and investments | 11 | 6,089 | |||||||
| Receivables | 24,177 | 47,824 | 51,586 | 51,249 | 65,863 | 102,798 | |||
| Prepaid expense | 33,230 | 45,058 | |||||||
| Other current assets | 4,792 | 8,508 | |||||||
| Other undisclosed current assets | 33,253 | 35,542 | 38,901 | 70,118 | 11 | 28,230 | |||
| Total current assets: | 82,002 | 105,287 | 121,991 | 121,367 | 142,897 | 294,454 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 14,791 | 20,863 | 26,399 | 34,538 | ✕ | ||||
| Property, plant and equipment | 3,673 | 4,582 | 6,979 | 11,732 | 26,525 | 67,937 | |||
| Long-term investments and receivables | 4,834 | 4,834 | 4,834 | 8,277 | |||||
| Long-term investments | 8,277 | ||||||||
| Accounts and financing receivable, after allowance for credit loss | 4,834 | 4,834 | 4,834 | ||||||
| Intangible assets, net (including goodwill) | 206,122 | 258,425 | 284,912 | 302,364 | 300,582 | 323,605 | |||
| Goodwill | 183,908 | 210,889 | 224,577 | 232,771 | 222,969 | 224,899 | |||
| Intangible assets, net (excluding goodwill) | 22,214 | 47,536 | 60,335 | 69,593 | 77,613 | 98,706 | |||
| Other noncurrent assets | 3,749 | 4,081 | 5,619 | 7,420 | 8,054 | 8,982 | |||
| Other undisclosed noncurrent assets | 53,965 | ||||||||
| Total noncurrent assets: | 228,335 | 292,785 | 328,743 | 360,888 | 389,126 | 408,801 | |||
| TOTAL ASSETS: | 310,337 | 398,072 | 450,734 | 482,255 | 532,023 | 703,255 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 46,602 | 66,324 | 73,013 | 82,075 | 87,538 | 73,121 | |||
| Accounts payable | 7,475 | 14,209 | 11,097 | 12,749 | 21,551 | 13,576 | |||
| Accrued liabilities | 39,127 | 52,115 | 61,916 | 69,326 | 65,987 | 59,545 | |||
| Deferred revenue | 1,095 | 13,859 | 22,368 | 33,045 | ✕ | ||||
| Debt | 10,000 | 113,542 | |||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 65,858 | 57,101 | ||
| Total current liabilities: | 47,697 | 80,183 | 95,381 | 125,120 | 153,396 | 243,764 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 136,771 | 134,584 | 168,682 | 44,126 | 9,494 | ||||
| Long-term debt, excluding current maturities | 136,215 | 134,584 | 133,104 | ||||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 9,494 | ||
| Finance lease, liability | 556 | ✕ | |||||||
| Liabilities, other than long-term debt | 27,935 | 33,945 | 10,326 | 19,439 | 26,530 | 70,638 | |||
| Deferred revenue | 324 | 548 | 12,569 | ✕ | |||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 21,941 | 59,841 | ||
| Deferred income tax liabilities | 3,207 | 466 | 560 | 1,875 | ✕ | ||||
| Other liabilities | 1,691 | 3,933 | 9,218 | 4,995 | 4,589 | 10,797 | |||
| Operating lease, liability | 23,037 | 29,222 | 35,578 | 44,126 | ✕ | ||||
| Other undisclosed noncurrent liabilities | 415 | 517 | 147 | 62,655 | |||||
| Total noncurrent liabilities: | 164,706 | 168,944 | 179,525 | 63,712 | 89,185 | 80,132 | |||
| Total liabilities: | 212,403 | 249,127 | 274,906 | 188,832 | 242,581 | 323,896 | |||
| Temporary equity, carrying amount | 12,500 | 12,500 | 12,500 | 250,141 | 213,365 | 12,500 | |||
| Equity | |||||||||
| Equity, attributable to parent | 26,632 | 68,097 | 90,823 | 43,282 | 76,077 | 188,909 | |||
| Common stock | 1 | 9 | 9 | 5 | 5 | 5 | |||
| Treasury stock, value | (82,087) | (82,087) | (82,087) | ||||||
| Additional paid in capital | 483,527 | 488,848 | 492,512 | 499,348 | 525,739 | 534,673 | |||
| Accumulated other comprehensive loss | (25,732) | (44,131) | (32,985) | (28,213) | (33,261) | (30,383) | |||
| Accumulated deficit | (431,164) | (376,629) | (368,713) | (345,771) | (334,319) | (233,299) | |||
| Other undisclosed equity | 58,802 | ||||||||
| Total equity: | 85,434 | 68,097 | 90,823 | 43,282 | 76,077 | 188,909 | |||
| Other undisclosed liabilities and equity | 68,348 | 72,505 | 177,950 | ||||||
| TOTAL LIABILITIES AND EQUITY: | 310,337 | 398,072 | 450,734 | 482,255 | 532,023 | 703,255 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 164,196 | 252,628 | 280,615 | 291,670 | 308,749 | 325,839 | ||
| Cost of revenue | (42,503) | (97,428) | (113,096) | (131,517) | (195,157) | (219,274) | ||
| Cost of goods and services sold | (42,218) | (91,702) | (109,050) | (121,817) | ||||
| Provision for loan, lease, and other losses | (84,314) | |||||||
| Gross profit: | 121,693 | 155,200 | 167,519 | 160,153 | 113,592 | 106,565 | ||
| Operating expenses | (132,339) | (153,878) | (186,536) | (208,275) | (221,380) | (270,841) | ||
| Operating income (loss): | (10,646) | 1,322 | (19,017) | (48,122) | (107,788) | (164,276) | ||
| Nonoperating income (expense) | (4,702) | 3,912 | (4,838) | 11,132 | 8,647 | (67,147) | ||
| Investment income, nonoperating | 426 | 465 | 39 | 1,597 | 1,258 | 7,770 | ||
| Other nonoperating income (expense) | (5,128) | 3,447 | (4,877) | 9,535 | 7,389 | (74,917) | ||
| Interest and debt expense | (13,963) | (13,640) | (6,420) | (476) | (533) | (3,151) | ||
| Loss from continuing operations before equity method investments, income taxes: | (29,311) | (8,406) | (30,275) | (37,466) | (99,674) | (234,574) | ||
| Loss from equity method investments | (1,619) | (28,600) | ||||||
| Other undisclosed income from continuing operations before income taxes | 2,549 | |||||||
| Loss from continuing operations before income taxes: | (29,311) | (5,857) | (30,275) | (37,466) | (101,293) | (263,174) | ||
| Income tax expense (benefit) | (4,743) | (1,859) | 7,177 | 27,108 | (2,174) | 17,894 | ||
| Loss from continuing operations: | (34,054) | (7,716) | (23,098) | (10,358) | (103,467) | (245,280) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (23,098) | (10,358) | (103,467) | (226,992) | |
| Income (loss) from discontinued operations | (20,517) | 18,288 | ||||||
| Other undisclosed net loss | ||||||||
| Net loss: | (54,571) | (7,716) | (23,098) | (10,358) | (103,467) | (226,992) | ||
| Net income (loss) attributable to noncontrolling interest | 36 | (200) | 156 | (344) | (1,126) | 8,837 | ||
| Other undisclosed net income (loss) attributable to parent | 344 | (32,134) | (25,593) | |||||
| Net loss attributable to parent: | (54,535) | (7,916) | (22,942) | (10,358) | (136,727) | (243,748) | ||
| Preferred stock dividends and other adjustments | (10,007) | (9,552) | (35,509) | (37,981) | (25,593) | |||
| Other undisclosed net income (loss) available to common stockholders, basic | (344) | |||||||
| Net loss available to common stockholders, diluted: | (64,542) | (17,468) | (58,451) | (48,683) | (136,727) | (269,341) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (54,571) | (7,716) | (23,098) | (10,358) | (103,467) | (226,992) | ||
| Other comprehensive income (loss) | 18,399 | (11,146) | (4,772) | 5,048 | (2,878) | (7,010) | ||
| Comprehensive loss: | (36,172) | (18,862) | (27,870) | (5,310) | (106,345) | (234,002) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 36 | (200) | 156 | (344) | (1,126) | 8,837 | ||
| Comprehensive loss, net of tax, attributable to parent: | (36,136) | (19,062) | (27,714) | (5,654) | (107,471) | (225,165) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.