Synacor Reports Continued Bottomline Improvement in Second Quarter of 2019
Summary
BUFFALO, N.Y.--(BUSINESS WIRE)--Synacor, Inc. (Nasdaq: SYNC), the trusted technology, multiplatform services and revenue partner for video, internet and communications providers, device manufacturers, governments and enterprises, today announced its financial results for the second quarter ended June 30, 2019. “Our revenue was in line with our expectations, while our adjusted EBITDA was slightly above our guidance range and up significantly from a year ago.” “This improved financial performance is enabling us to invest in our high-margin, recurring-revenue-driven enterprise software business,” added Bhise. The pipeline for our software business is very strong, as we transition our Zimbra email and collaboration platform to a recurring revenue model and expand Cloud ID Identity and access management solutions into broader enterprise applications. Synacor (Nasdaq: SYNC) is the trusted technology development, multiplatform services and revenue partner for video, internet and communications providers, device manufacturers, governments and enterprises. The risks and uncertainties referred to above include - but are not limited to - risks associated with: execution of our plans and strategies, including the loss of a significant customer; the nature and terms of a wind-down and migration plan with AT&T; our ability to obtain new customers; our ability to integrate the assets and personnel from acquisitions; expectations regarding consumer taste and user adoption of applications and solutions; developments in internet browser software and search advertising technologies; general economic conditions; expectations regarding the Companys ability to timely expand the breadth of services and products or introduction of new services and products; consolidation within the cable and telecommunications industries; changes in the competitive dynamics in the market for online search and digital advertising; the risk that security measures could be breached and unauthorized access to subscriber data could be obtained; potential third party intellectual property infringement claims or other legal claims against Synacor; and the price volatility of our common stock.