Synacor Reports First Quarter 2020 Financial Results; Strength In Software Offset By COVID-19 Impact On Publisher Advertising
SYNACOR INC (SYNC)
Last synacor inc earnings: 11/14 04:05 pm
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Source: Business Wire
BUFFALO, N.Y.--(BUSINESS WIRE)--Synacor, Inc. (Nasdaq: SYNC), a cloud-based software and services company serving global video, internet and communications providers, device manufacturers, governments and enterprises, today announced its financial results for the first quarter ended March 31, 2020.First Quarter HighlightsFirst quarter revenue of $20.6 millionFirst quarter GAAP net loss of $4.5 million and Adjusted EBITDA of $0.3 million260 new and expansion customers for Zimbra email and collaboration platform. Ramping up the previously announced significant new streaming services Cloud ID customerSoftware segment adjusted EBITDA margins grew to 31.9% from 25% and unallocated corporate G&A declined 20% compared to the year ago quarterMerger planning with Qumu continues; S-4 registration filing has been slightly delayed due to COVID-19“Our transition to a higher-margin, SaaS-focused software company continued,” said Himesh Bhise, Synacor’s Chief Executive Officer. “It is encouragin
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