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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments21,92131,504 38,990103,771159,410
Cash and cash equivalents21,92131,504 38,990103,771156,299
Short-term investments      3,111
Restricted cash and investments    116,08989,826
Receivables47,82451,58651,24965,863102,79878,186
Prepaid expense    33,23045,058 
Other current assets    4,7928,508 
Other undisclosed current assets35,54238,90170,1181128,23043,557
Total current assets:105,287121,991121,367142,897294,454370,979
Noncurrent Assets
Operating lease, right-of-use asset20,86326,39934,538 
Property, plant and equipment 4,5826,97911,73226,52567,937111,825
Long-term investments and receivables 4,8344,8344,834 8,277107,901
Due from related parties     73,984
Long-term investments     8,27733,917
Accounts and financing receivable, after allowance for credit loss 4,8344,8344,834   
Intangible assets, net (including goodwill)258,425284,912302,364300,582323,605369,470
Goodwill210,889224,577232,771222,969224,899237,303
Intangible assets, net (excluding goodwill)47,53660,33569,59377,61398,706132,167
Other noncurrent assets4,0815,6197,4208,0548,9825,236
Other undisclosed noncurrent assets   53,965  
Total noncurrent assets:292,785328,743360,888389,126408,801594,432
TOTAL ASSETS:398,072450,734482,255532,023703,255965,411
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities66,32473,01382,07587,53873,12178,698
Accounts payable14,20911,09712,74921,55113,5765,959
Accrued liabilities52,11561,91669,32665,98759,54572,739
Deferred revenue13,85922,36833,045 
Debt   10,000 113,542 
Derivative instruments and hedges, liabilities      37,959
Deferred revenue and credits75,829
Contract with customer, liability65,85857,101
Total current liabilities:80,18395,381125,120153,396243,764192,486
Noncurrent Liabilities
Long-term debt and lease obligation134,584168,68244,126 9,494238,887
Long-term debt, excluding current maturities134,584133,104   227,704
Capital lease obligations9,49411,183
Liabilities, other than long-term debt33,94510,32619,43926,53070,63831,436
Deferred revenue and credits25,241
Deferred revenue32454812,569 
Contract with customer, liability21,94159,841
Deferred income tax liabilities4665601,875 
Other liabilities3,9339,2184,9954,58910,7976,195
Operating lease, liability29,22235,57844,126 
Other undisclosed noncurrent liabilities41551714762,655  
Total noncurrent liabilities:168,944179,52563,71289,18580,132270,323
Total liabilities:249,127274,906188,832242,581323,896462,809
Temporary equity, carrying amount12,50012,500250,141213,36512,50025,280
Equity
Equity, attributable to parent68,09790,82343,28276,077188,909463,587
Common stock995555
Treasury stock, value   (82,087)(82,087)(82,087)(105,584)
Additional paid in capital488,848492,512499,348525,739534,673597,553
Accumulated other comprehensive loss(44,131)(32,985)(28,213)(33,261)(30,383)(23,373)
Accumulated deficit(376,629)(368,713)(345,771)(334,319)(233,299)(5,014)
Other undisclosed equity      
Total equity:68,09790,82343,28276,077188,909463,587
Other undisclosed liabilities and equity 68,34872,505  177,95013,735
TOTAL LIABILITIES AND EQUITY:398,072450,734482,255532,023703,255965,411

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues252,628280,615291,670308,749325,839402,361
Cost of revenue(97,428)(113,096)(131,517)(195,157)(219,274)(243,384)
Cost of goods and services sold(91,702)(109,050)(121,817)   
Provision for loan, lease, and other losses     (84,314)
Gross profit:155,200167,519160,153113,592106,565158,977
Operating expenses(153,878)(186,536)(208,275)(221,380)(270,841)(288,579)
Operating income (loss):1,322(19,017)(48,122)(107,788)(164,276)(129,602)
Nonoperating income (expense)3,912(4,838)11,1328,647(67,147)(5,176)
Investment income, nonoperating465391,5971,2587,77012,502
Other nonoperating income (expense)3,447(4,877)9,5357,389(74,917)(17,678)
Interest and debt expense(13,640)(6,420)(476)(533)(3,151)(85,184)
Loss from continuing operations before equity method investments, income taxes:(8,406)(30,275)(37,466)(99,674)(234,574)(219,962)
Loss from equity method investments    (1,619)(28,600)(9,125)
Other undisclosed income from continuing operations before income taxes 2,549     
Loss from continuing operations before income taxes:(5,857)(30,275)(37,466)(101,293)(263,174)(229,087)
Income tax expense (benefit)(1,859)7,17727,108(2,174)17,89434,863
Loss from continuing operations:(7,716)(23,098)(10,358)(103,467)(245,280)(194,224)
Loss before gain (loss) on sale of properties:(23,098)(10,358)(103,467)(226,992)(118,729)
Income from discontinued operations     18,28875,495
Net loss:(7,716)(23,098)(10,358)(103,467)(226,992)(118,729)
Net income (loss) attributable to noncontrolling interest(200)156(344)(1,126)8,8379,291
Other undisclosed net income (loss) attributable to parent   344(32,134)(25,593) 
Net loss attributable to parent:(7,916)(22,942)(10,358)(136,727)(243,748)(109,438)
Preferred stock dividends and other adjustments(9,552)(35,509)(37,981) (25,593) 
Other undisclosed net loss available to common stockholders, basic   (344)   
Net loss available to common stockholders, diluted:(17,468)(58,451)(48,683)(136,727)(269,341)(109,438)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(7,716)(23,098)(10,358)(103,467)(226,992)(118,729)
Other comprehensive income (loss)(11,146)(4,772)5,048(2,878)(7,010)18,977
Comprehensive loss:(18,862)(27,870)(5,310)(106,345)(234,002)(99,752)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(200)156(344)(1,126)8,8379,291
Comprehensive loss, net of tax, attributable to parent:(19,062)(27,714)(5,654)(107,471)(225,165)(90,461)

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.

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