Synchronoss Reiterates FY24 Revenue Outlook Of $170M - $175M (Est $173.295M)
Portfolio Pulse from Benzinga Newsdesk
Synchronoss Technologies has reiterated its FY24 revenue outlook of $170M - $175M, with an estimated $173.295M. The company has also raised its adjusted gross margin expectations to 73%-77% from 70%-75%, and its adjusted EBITDA to $43M-$46M from $42M-$45M, indicating at least a 25% adjusted EBITDA margin.
August 06, 2024 | 9:47 pm
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Synchronoss Technologies has reiterated its FY24 revenue outlook of $170M - $175M, with an estimated $173.295M. The company has also raised its adjusted gross margin expectations to 73%-77% from 70%-75%, and its adjusted EBITDA to $43M-$46M from $42M-$45M, indicating at least a 25% adjusted EBITDA margin.
The reiteration of the revenue outlook and the increase in adjusted gross margin and EBITDA expectations are positive indicators for Synchronoss Technologies. These adjustments suggest improved operational efficiency and profitability, which are likely to boost investor confidence and positively impact the stock price in the short term.
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