0001131554-25-000055 | 10-Q | XBRL Viewer | Synchronoss Technologies INC

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Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Net revenues	$ 42,213	$ 42,965
Professional Services
Disaggregation of Revenue [Line Items]
Net revenues	2,727	3,773
Subscription Services
Disaggregation of Revenue [Line Items]
Net revenues	39,292	39,143
License
Disaggregation of Revenue [Line Items]
Net revenues	194	49
North America
Disaggregation of Revenue [Line Items]
Net revenues	40,355	39,641
APAC
Disaggregation of Revenue [Line Items]
Net revenues	1,506	1,548
EMEA
Disaggregation of Revenue [Line Items]
Net revenues	$ 352	$ 1,776

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 606
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+ Details

Stock Plans

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock Plans

As of March 31, 2025, the Company maintains two stock-based compensation plans, the 2015 Equity Incentive Plan (the “2015 Plan”) and the 2017 New Hire Equity Incentive Plan (“2017 Plan”), under which the Company may grant to its employees, outside directors, and consultants awards in the form of stock options, shares of restricted stock, stock units, or stock appreciation rights and performance shares. As of March 31, 2025, the maximum number of shares of common stock authorized for issuance is 5,741,575 shares under the 2015 Plan and 229,635 shares under the 2017 Plan. As of March 31, 2025, there were 45,114 shares available for the grant or award under the Company’s 2015 Plan and 108,382 shares available for the grant or award under the Company’s 2017 Plan.

Stock Options

Stock options granted under the Company’s 2015 and 2017 Plans generally vest one-third of the applicable shares on the first, second, and third anniversary of the grant date, subject to continuous service. The Company accounts for stock options under equity accounting. Stock options are measured at fair value at the grant date using the Black-Scholes option pricing model and expense is recognized on a straight-line basis over the requisite service period. The expense for these awards is recorded in APIC on the Condensed Consolidated Balance Sheets.

Restricted Stock Awards

Restricted stock awards granted under the Company’s 2015 and 2017 Plans generally vest one-third of the applicable shares on the first, second, and third anniversary of the grant date, subject to continuous service. The Company accounts for these awards under equity accounting. Restricted stock awards are measured at the closing stock price at the grant date and expense is recognized on a straight-line basis over the requisite service period. The expense for these awards is recorded in APIC on the Condensed Consolidated Balance Sheets.

Performance-Based Cash Units

Performance-based cash units (“PBCU”) are performance-based awards granted under the Company’s Long Term Incentive (“LTI”) Plans. PBCU are three-year grants tied to specific company performance metrics. Each year, the Compensation Committee establishes performance targets for the applicable performance period and PBCU are earned annually based on the achievement of these targets. All earned PBCU generally vest at the end of a three-year period assuming

continuous employment as of the vesting date. The PBCU can be settled in cash or in equity as determined by the Compensation Committee, subject to the availability of shares for issuance as of the vesting date.

PBCU that are accounted for as equity awards are measured at the closing stock price at the grant date and expense is recognized on a straight-line basis over the requisite service period. The expense for the period will increase or decrease based on the percentage achievement of the performance metrics at each reporting date. The expense for these awards is recorded in APIC on the Condensed Consolidated Balance Sheets.

PBCU that are accounted for as liability awards are measured at the fair value at the reporting period end date and expense is recognized on a straight-line basis over the requisite service period. The expense for the period will increase or decrease based on updated fair values of these awards as well as the percentage achievement of the performance metrics at each reporting date. The short-term liability related to these awards is included in Accrued expenses and the long-term portion is included in Other liabilities, non-current on the Condensed Consolidated Balance Sheets.

As of March 31, 2025, the Company has three active LTI Plans: 2023-2025 LTI Plan, 2024-2026 LTI Plan and 2025-2027 LTI Plan.

The Company’s PBCU granted to employees under the 2022-2024 LTI Plan were accounted for as equity awards due to Company’s intent and ability to settle them in shares of stock. 246,047 PBCU were earned and distributed in shares of stock upon vesting during the first quarter of 2025.

As of March 31, 2025, the Company’s PBCU granted to employees under the 2023-2025 LTI Plan, 2024-2026 LTI Plan and 2025-2027 LTI Plan have been accounted for as liability awards, due to the Company’s intent and the ability to settle such awards in cash upon vesting and expected lack of shares available for issuance. As of March 31, 2025, the short-term liability for such awards is $0.4 million and the long-term liability is $1.2 million.

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense related to all of the Company’s stock awards included by operating expense categories, as follows:


	Three Months Ended March 31,
	2025		2024
Cost of revenues	$	99	$	23
Research and development	539		223
Selling, general and administrative	1,491		864
Total stock-based compensation expense	$	2,129	$	1,110

The following table summarizes stock-based compensation expense related to all of the Company’s stock awards included by award type, as follows:


	Three Months Ended March 31,
	2025		2024
Awards classified as equity:
Stock options	$	115	$	198
Restricted stock awards	940		428
Performance-based cash units	381		463
Total equity classified awards	1,436		1,089
Awards classified as liability:
Performance-based cash units	693		21

Total stock-based compensation before taxes	$	2,129	$	1,110
Tax benefit	$	470	$	252

The total unamortized stock-based compensation cost related to unvested restricted stock awards and stock options as of March 31, 2025 was $7.9 million. The expense is expected to be recognized over a weighted-average period of approximately 2.3 years.

The total unamortized stock-based compensation cost related to unvested performance-based cash units as of March 31, 2025 was $4.5 million. The expense is expected to be recognized over a weighted-average period of approximately 2.3 years.

Subsequent Events (Details) - USD ($) $ in Thousands		3 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Apr. 24, 2025	Mar. 31, 2025	Mar. 31, 2024
Subsequent Event [Line Items]
Outstanding aggregate principal amount		$ 469	$ 0
First Amendment Loan \| Subsequent Event
Subsequent Event [Line Items]
Springing maturity	9 months
Stepdown leverage ratio, percentage	0.0050
Net leverage ratio	6.30
First Amendment Loan \| Subsequent Event \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate	2.50%
First Amendment Loan \| Subsequent Event \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate	7.00%
First Amendment Loan \| Term Loan \| Subsequent Event
Subsequent Event [Line Items]
Aggregate principal amount	$ 200,000
Outstanding aggregate principal amount	73,600
First Amendment Loan \| Senior Notes \| Subsequent Event
Subsequent Event [Line Items]
Outstanding aggregate principal amount	$ 121,000

Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

The Company has entered into contracts with third parties to lease a variety of assets, including certain real estate, equipment, automobiles, and other assets. The Company’s leases frequently allow for lease payments that could vary based on factors such as inflation or the degree of utilization of the underlying asset. For example, certain of the Company’s real estate leases could require us to make payments that vary based on common area maintenance charges, insurance, and other charges. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company is party to certain sublease arrangements, primarily related to the Company’s real estate leases, where it acts as the lessee and intermediate lessor.

Assets under operating leases are included in Operating lease right-of-use assets, with the related short-term liabilities included in Accrued expenses and long-term portion included in Leases, non-current on the Condensed Consolidated Balance Sheets.

Assets under finance leases are included in Property, plant and equipment, net, with the related short-term liabilities included in Accrued expenses and long-term portion in Leases, non-current on the Condensed Consolidated Balance Sheets.

Operating lease costs are recognized on a straight-line basis over the lease terms. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease terms.

The following table presents information about the Company's right-of-use (“ROU”) assets and lease liabilities:


	March 31, 2025		December 31, 2024
Operating lease assets:
Non-current operating lease ROU assets	$	7,900	$	8,445
Finance lease assets:
Equipment, net	1,370		1,137



Operating lease liabilities:
Lease liabilities, current	6,179		6,010
Lease liabilities, non-current	14,791		16,320
Total operating lease liabilities	$	20,970	$	22,330

Finance lease liabilities:
Lease liabilities, current	838		722
Lease liabilities, non-current	603		456
Total finance lease liabilities	$	1,441	$	1,178

The following table presents information about lease expense and sublease income:


	Three Months Ended March 31,
	2025		2024
Finance leases:
Interest expense	$	31	$	28
Depreciation expense	186		167
Total finance leases	$	217	$	195

Operating leases:
Operating lease cost1	$	1,033	$	1,424
Other lease costs and income:
Variable lease costs1	363		141

Sublease income1,2	(2,452)		(1,019)
Total operating leases	(1,056)		546
Total net lease cost	$	(839)	$	741

________________________________

1 Amounts are included in Cost of revenues, Selling, general and administrative and/or Research and development based on the function that the underlying leased asset supports, which are reflected on the Condensed Consolidated Statements of Operations.

2 Amounts include receipt of a $1.6 million past due sublease payment in the current period, for which we previously recorded an allowance for credit losses.

The following table provides the undiscounted amount of future cash flows included in the Company’s lease liabilities at March 31, 2025 for each of the five years subsequent to December 31, 2024 and thereafter, as well as a reconciliation of such undiscounted cash flows to our lease liabilities at March 31, 2025:


	Operating Leases		Finance Leases
2025	$	5,683	$	733
2026	7,577		661
2027	6,216		144
2028	4,276		—
2029	—		—

Total future lease payments	23,752		1,538
Less: amount representing interest	(2,782)		(97)
Present value of future lease payments (lease liability)	$	20,970	$	1,441

The following table provides the weighted average remaining lease term and weighted-average discount rates for our leases:


	March 31, 2025	December 31, 2024
Weighted average remaining lease term (years), weighted based on lease liability balances:
Finance leases	2.1	2.0
Operating leases	3.3	3.7

Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Finance leases	10.2%	10.0%
Operating leases	8.0%	8.0%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities:


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases	$	190	$	186
Operating leases	1,886		1,961

Lease liabilities arising from obtaining right-of-use assets:
Finance leases	$	397	$	105
Operating leases	—		—

Restructuring

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring

The Company continues to identify workforce optimization opportunities to better align the Company’s resources with its key strategic priorities.

A summary of the Company’s restructuring accrual at March 31, 2025 and changes during the three months ended March 31, 2025, are presented below:


	Employee Termination Costs
Balance at December 31, 2024	$	712
Charges	118
Payments	(672)

Balance at March 31, 2025	$	158

Leases - Weighted Average Lease Term and Rates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Weighted average remaining lease term (years), weighted based on lease liability balances:
Finance leases	2 years 1 month 6 days		2 years
Operating leases	3 years 3 months 18 days		3 years 8 months 12 days
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Finance leases	10.20%		10.00%
Operating leases	8.00%		8.00%
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases	$ 190	$ 186
Operating leases	1,886	1,961
Lease liabilities arising from obtaining right-of-use assets:
Finance leases	397	105
Operating leases	$ 0	$ 0

Legal Matters (Details)		3 Months Ended
Legal Matters (Details)	Jun. 07, 2022 USD ($) defendant	Jun. 30, 2024 USD ($) defendant
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, damages awarded	$ 12,500,000
Loss contingency, payment term	2 years
Loss contingency, number of defendants \| defendant	2	1
Damages paid		$ 145,000
Amount awarded from other party		$ 430,741

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Operating Assets and Liabilities

The following table presents information about the Company's right-of-use (“ROU”) assets and lease liabilities:


	March 31, 2025		December 31, 2024
Operating lease assets:
Non-current operating lease ROU assets	$	7,900	$	8,445
Finance lease assets:
Equipment, net	1,370		1,137



Operating lease liabilities:
Lease liabilities, current	6,179		6,010
Lease liabilities, non-current	14,791		16,320
Total operating lease liabilities	$	20,970	$	22,330

Finance lease liabilities:
Lease liabilities, current	838		722
Lease liabilities, non-current	603		456
Total finance lease liabilities	$	1,441	$	1,178

Schedule of Components of Lease Expense and Weighted Average Lease Term and Rates

The following table presents information about lease expense and sublease income:


	Three Months Ended March 31,
	2025		2024
Finance leases:
Interest expense	$	31	$	28
Depreciation expense	186		167
Total finance leases	$	217	$	195

Operating leases:
Operating lease cost1	$	1,033	$	1,424
Other lease costs and income:
Variable lease costs1	363		141

Sublease income1,2	(2,452)		(1,019)
Total operating leases	(1,056)		546
Total net lease cost	$	(839)	$	741

________________________________

2 Amounts include receipt of a $1.6 million past due sublease payment in the current period, for which we previously recorded an allowance for credit losses.

The following table provides the weighted average remaining lease term and weighted-average discount rates for our leases:


	March 31, 2025	December 31, 2024
Weighted average remaining lease term (years), weighted based on lease liability balances:
Finance leases	2.1	2.0
Operating leases	3.3	3.7

Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Finance leases	10.2%	10.0%
Operating leases	8.0%	8.0%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities:


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases	$	190	$	186
Operating leases	1,886		1,961

Lease liabilities arising from obtaining right-of-use assets:
Finance leases	$	397	$	105
Operating leases	—		—

Schedule of Maturities of Operating Lease Liabilities


	Operating Leases		Finance Leases
2025	$	5,683	$	733
2026	7,577		661
2027	6,216		144
2028	4,276		—
2029	—		—

Total future lease payments	23,752		1,538
Less: amount representing interest	(2,782)		(97)
Present value of future lease payments (lease liability)	$	20,970	$	1,441

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended
Restructuring (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Restructuring accrual and changes
Charges	$ 118	$ 219
Employee Termination Costs
Restructuring accrual and changes
Balance at December 31, 2024	712
Charges	118
Payments	(672)
Balance at March 31, 2025	$ 158

Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract asset, balance	$ 500	$ 600
Changes In Contract Liabilities [Roll Forward]
Balance at December 31, 2024	837
Revenue recognized in the period	(42,264)
Amounts billed but not initially recognized as revenue	42,027
Balance at March 31, 2025	600
Deferred revenue	$ 300

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 24, 2025 (the “Closing Date”), Synchronoss Technologies Inc. (the “Synchronoss”) and certain of its subsidiaries (together with Synchronoss, the “Companies”) entered into that certain First Amendment to Credit Agreement and Pledge and Security Agreement (the “Amendment”) with the lenders party thereto and BGC Lender Rep LLC, as administrative agent (the “Administrative Agent”), which amended (i) that certain Credit Agreement, dated as of June 28, 2024 (the “Credit Agreement”, and as amended by the Amendment, the “Amended Credit Agreement”), among Synchronoss, the lenders party thereto from time to time and the Administrative Agent and (ii) that certain Pledge and Security Agreement, dated as of June 28, 2024 (the “Security Agreement”, and as amended by the Amendment, the “Amended Security Agreement”), among the Companies and the Administrative Agent. On the Closing Date, the Amended Credit Agreement established a new term loan facility in an aggregate principal amount of $200 million (the “First Amendment Loan”), with any existing lenders under the Credit Agreement participating pursuant to a cashless settlement of the $73.6 million outstanding aggregate principal amount of term loan facility under the Credit Agreement. Synchronoss intends to use proceeds from the First Amendment Loan, together with cash on hand, to redeem all of the $121 million outstanding aggregate principal amount of senior notes on or around May 12, 2025 at the applicable redemption price, as previously disclosed. The First Amendment Loans will mature on April 24, 2029 (subject to a springing maturity of nine months prior to the date of cancellation of certain material contracts if unreplaced in accordance with the terms of the Amended Credit Agreement) and bear an interest rate of the secured overnight financing rate, which shall not be less than 2.50%, plus a margin of 7.00% per annum (with one 0.50% stepdown at specified leverage). The First Amendment also includes (i) a covenant tested quarterly which limits the consolidated secured leverage ratio to 6.30 to 1.00 or under, (ii) a covenant tested monthly with respect to a minimum number of subscribers under certain material contracts and (iii) certain other changes to the terms of the Credit Agreement, including with respect to certain negative covenants.

Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

The Company assessed its current structure and operations and determined it has one operating segment and a single reportable segment as the business is managed and assessed by the chief operating decision-maker based on the consolidated results of the organization. The Chief Executive Officer is the chief operating decision-maker (“CODM”) for the Company.

The segment derives revenues from customers through the Company’s cloud product under software-as-a-service arrangements.

The accounting policies of the single segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance and decides how to allocate resources based on consolidated net income (loss) from continuing operations. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The CODM uses consolidated net income (loss) from continuing operations to evaluate the overall financial performance of the company. The focus is on revenue performance as well as on comparing actual functional spend categories to forecast and, occasionally, prior-year results to assess variances and trends. Decisions regarding resource allocation are primarily made during the annual budget planning process and augmented as needed throughout the year.

Segment operating results and a reconciliation of segment operating income to consolidated net income (loss) from continuing operations are as follows:


	Three Months Ended March 31,
		2025		2024


Net revenues1		$	42,213	$	42,965
Less (add):
Employees related expense net of capitalized software		18,834		19,826
Hosting expense		3,732		3,946
Professional services expense		4,413		5,304
Other segment items2		8,506		1,143
Depreciation and amortization		4,078		4,359


Interest income		(233)		(208)
Interest expense		5,422		3,517




Provision (benefit) for income taxes		1,278		603
Segment net (loss) income		(3,817)		4,475
Reconciliation of profit or loss
Adjustments and reconciling items		—		—

Consolidated net (loss) income from continuing operations		$	(3,817)	$	4,475

_____________________________

1 There are no intra-entity sales or transfers.

2 Other segment items include: administrative expense, facilities expense, maintenance charges, restructuring expense, sales and marketing expense, stock-based compensation expense, non-cash impact of the foreign exchange gains and losses on intercompany payables and receivables, and other overhead expense.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Topic 280
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+ Details

Stock Plans - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	$ 2,129	$ 1,110
Awards classified as equity:	1,436	1,089
Tax benefit	470	252
Stock options
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Awards classified as equity:	115	198
Restricted stock awards
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Awards classified as equity:	940	428
Performance-based cash units
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Awards classified as equity:	381	463
Awards classified as liability:	693	21
Cost of revenues
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	99	23
Research and development
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	539	223
Selling, general and administrative
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Total stock-based compensation expense	$ 1,491	$ 864

Revenue - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2025 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 149.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	88.80%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Carrying Amounts

The carrying amounts of the Company’s borrowings were as follows:


	March 31, 2025		December 31, 2024
2021 Senior Notes:
Senior Notes	$	121,387	$	121,387
Unamortized discount and debt issuance cost1	(2,214)		(2,625)
Carrying value of Senior Notes	119,173		118,762
2024 Term Loan:
Term Loan	73,594		74,063
Unamortized debt issuance cost1	(5,726)		(6,110)

Carrying value of Term Loan	67,868		67,953
Total carrying value of debt	187,041		186,715
Current portion of long-term debt	1,875		1,875
Long-term debt, net of current portion	$	185,166	$	184,840

________________________________

1 Debt issuance costs are deferred and amortized into interest expense using the effective interest method.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments


	Balance at March 31, 2025
			Fair Value
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total



Total debt	$	187,041	$	—	$	188,683	$	—	$	188,683


	Balance at December 31, 2024
			Fair Value
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total



Total debt	$	186,715	$	—	$	193,275	$	—	$	193,275

Schedule of Interest Expense

The following table summarizes the Company’s interest expense:


	Three Months Ended March 31,
	2025		2024
2021 Senior Notes
Amortization of debt issuance costs	$	383	$	408
Interest on borrowings	2,542		2,954
Amortization of debt discount	28		26
2024 Term Loan:
Amortization of debt issuance costs	384		—
Amortization of exit fee	85		—
Interest on borrowings	1,838		—

Other1	162		129
Total interest expense	$	5,422	$	3,517

________________________________

1 Includes interest on uncertain tax provisions.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Stock Plans - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($) compensation_plan shares	Dec. 31, 2024 USD ($)
Stockholder's Equity
Short-term liability \| $	$ 1,643	$ 948
Stock-based compensation cost related to non-vested equity awards not yet recognized as an expense \| $	$ 7,900
Weighted-average period over which stock-based compensation cost related to non-vested equity awards is expected to be recognized	2 years 3 months 18 days
Restricted stock awards \| Share-Based Payment Arrangement, Tranche One
Stockholder's Equity
Percentage of awards vesting	33.33%
Restricted stock awards \| Share-Based Payment Arrangement, Tranche Two
Stockholder's Equity
Percentage of awards vesting	33.33%
Restricted stock awards \| Share-Based Payment Arrangement, Tranche Three
Stockholder's Equity
Percentage of awards vesting	33.33%
Stock options \| Share-Based Payment Arrangement, Tranche One
Stockholder's Equity
Percentage of awards vesting	33.33%
Stock options \| Share-Based Payment Arrangement, Tranche Two
Stockholder's Equity
Percentage of awards vesting	33.33%
Stock options \| Share-Based Payment Arrangement, Tranche Three
Stockholder's Equity
Percentage of awards vesting	33.33%
Performance-based cash units
Stockholder's Equity
Vesting period (in years)	3 years
Stock-based compensation cost related to non-vested equity awards not yet recognized as an expense \| $	$ 4,500
Weighted-average period over which stock-based compensation cost related to non-vested equity awards is expected to be recognized	2 years 3 months 18 days
2015 Plan
Stockholder's Equity
Number of plans \| compensation_plan	2
Number of shares authorized (in shares) \| shares	5,741,575
Number of shares available for grant (in shares) \| shares	45,114
2015 Plan \| Performance-based cash units
Stockholder's Equity
Short-term liability \| $	$ 400
Long-term liability \| $	$ 1,200
2017 New Hire Plan
Stockholder's Equity
Number of shares authorized (in shares) \| shares	229,635
Number of shares available for grant (in shares) \| shares	108,382
Performance-based cash units \| Performance-based cash units
Stockholder's Equity
Vested (in shares) \| shares	246,047

Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment operating results and a reconciliation of segment operating income to consolidated net income (loss) from continuing operations are as follows:


	Three Months Ended March 31,
		2025		2024


Net revenues1		$	42,213	$	42,965
Less (add):
Employees related expense net of capitalized software		18,834		19,826
Hosting expense		3,732		3,946
Professional services expense		4,413		5,304
Other segment items2		8,506		1,143
Depreciation and amortization		4,078		4,359


Interest income		(233)		(208)
Interest expense		5,422		3,517




Provision (benefit) for income taxes		1,278		603
Segment net (loss) income		(3,817)		4,475
Reconciliation of profit or loss
Adjustments and reconciling items		—		—

Consolidated net (loss) income from continuing operations		$	(3,817)	$	4,475

_____________________________

1 There are no intra-entity sales or transfers.

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2025	May 05, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Transition Report	false
Entity File Number	001-40574
Entity Registrant Name	SYNCHRONOSS TECHNOLOGIES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1594540
Entity Address, Address Line One	200 Crossing Boulevard
Entity Address, Address Line Two	8th Floor
Entity Address, City or Town	Bridgewater
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08807
City Area Code	866
Local Phone Number	620-3940
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,497,976
Entity Central Index Key	0001131554
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Common Stock, $.0001 par value
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $.0001 par value
Trading Symbol	SNCR
Security Exchange Name	NASDAQ
8.375% Senior Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	8.375% Senior Notes due 2026
Trading Symbol	SNCRL
Security Exchange Name	NASDAQ

Stock Plans (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation

The following table summarizes stock-based compensation expense related to all of the Company’s stock awards included by operating expense categories, as follows:


	Three Months Ended March 31,
	2025		2024
Cost of revenues	$	99	$	23
Research and development	539		223
Selling, general and administrative	1,491		864
Total stock-based compensation expense	$	2,129	$	1,110

The following table summarizes stock-based compensation expense related to all of the Company’s stock awards included by award type, as follows:


	Three Months Ended March 31,
	2025		2024
Awards classified as equity:
Stock options	$	115	$	198
Restricted stock awards	940		428
Performance-based cash units	381		463
Total equity classified awards	1,436		1,089
Awards classified as liability:
Performance-based cash units	693		21

Total stock-based compensation before taxes	$	2,129	$	1,110
Tax benefit	$	470	$	252

Basis of Presentation and Consolidation

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

The accompanying interim unaudited condensed consolidated financial statements have been prepared by Synchronoss and, in the opinion of management, include all adjustments necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows for the interim periods. They do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025.

The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All material intercompany transactions and accounts are eliminated in consolidation.

Unless otherwise noted, tables are presented in U.S. dollars in thousands. Certain columns and rows may not add due to the use of rounded numbers. Percentages and Earnings per share (“EPS”) amounts presented are calculated from the underlying numbers in thousands. We may reclassify certain prior year amounts to conform with current year presentation.

For further information about the Company’s basis of presentation and consolidation or its significant accounting policies, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Recently Issued Accounting Standards

Standards recently adopted

Standard

Description

Effect on the financial statements

Update 2024-01 - Compensation—Stock Compensation
(Topic 718) - Scope Application of Profits Interest and Similar Awards

The amendments in this Update related to the scope application issue apply to all reporting entities that account for profits interest awards as compensation to employees or nonemployees in return for goods or services. This Update provides specific examples to help stakeholders to determine whether a profits interest award should be accounted for as a share-based payment arrangement (Topic 718) or similar to a cash bonus or profit-sharing arrangement (Topic 710, Compensation—General, or other Topics).

The Company evaluated these changes and noted that the adoption of this standard did not have a material impact on the Company’s consolidated financial position or results of operations.

Date of adoption: January 1, 2025

Standards issued not yet adopted

Standard

Description

Effect on the financial statements

Update 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

Requires a public business entity to disclose, on an annual basis and interim basis, disaggregated information about certain income statement line items in a tabular format in the notes to the financial statements. The guidance does not change what is presented on the face of the income statement.

The Company continues to evaluate these changes and does not anticipate any material impact on the Company’s consolidated financial position or results of operations upon adoption.

Planned date of adoption: January 1, 2027

Update 2023-09 - Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

The amendments in this Update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction.

The Company evaluated these changes and noted that the adoption of this standard did not have a material impact on the Company’s consolidated financial position or results of operations. The ASU is effective for annual periods beginning after December 15, 2024, and will not impact interim disclosures for 2025.

Planned date of adoption: December 31, 2025

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 31, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Debt - Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Carrying Amount	$ 187,041	$ 186,715
Fair Value	188,683	193,275
(Level 1)
Debt Instrument [Line Items]
Fair Value	0	0
(Level 2)
Debt Instrument [Line Items]
Fair Value	188,683	193,275
(Level 3)
Debt Instrument [Line Items]
Fair Value	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Capital Structure (Details)		3 Months Ended
Capital Structure (Details)	Jun. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2025 USD ($) vote $ / shares shares	Dec. 31, 2024 shares
Stockholder's Equity
Capital stock authorized (in shares)		26,666,667
Capital stock, par value (in dollars per share) \| $ / shares		$ 0.0001
Common stock, shares authorized (in shares)		16,666,667	16,667,000
Dividends \| $		$ 0
Preferred Stock
Stockholder's Equity
Preferred stock, shares authorized (in shares)		10,000,000
Common Stock
Stockholder's Equity
Number of votes per share \| vote		1
Series B Preferred Stock
Stockholder's Equity
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.0001
Preferred stock, liquidation preference (in dollars per share) \| $ / shares	$ 1,000
Series B Preferred Stock \| Private Placement
Stockholder's Equity
Number of shares issued in transaction (in shares)	75,000
Consideration received on transaction \| $	$ 72,800,000

Basis of Presentation and Consolidation (Tables)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Recently Issued Accounting Standards

Standards recently adopted

Standard

Description

Effect on the financial statements

Update 2024-01 - Compensation—Stock Compensation
(Topic 718) - Scope Application of Profits Interest and Similar Awards

The Company evaluated these changes and noted that the adoption of this standard did not have a material impact on the Company’s consolidated financial position or results of operations.

Date of adoption: January 1, 2025

Standards issued not yet adopted

Standard

Description

Effect on the financial statements

Update 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

The Company continues to evaluate these changes and does not anticipate any material impact on the Company’s consolidated financial position or results of operations upon adoption.

Planned date of adoption: January 1, 2027

Update 2023-09 - Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Planned date of adoption: December 31, 2025

Accumulated Other Comprehensive (Loss) / Income (Tables)

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive (loss) income during the three months ended March 31, 2025 were as follows:


	Balance at December 31, 2024		Other Comprehensive Income		Tax Effect		Balance at March 31, 2025
Foreign currency	$	(37,617)	$	8,853	$	—	$	(28,764)
Unrealized loss on intercompany foreign currency transactions	(3,520)		—		—		(3,520)

Total	$	(41,137)	$	8,853	$	—	$	(32,284)

Earnings per Common Share (EPS) (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator Used in Computing Basic and Diluted Net Income Attributable to Common Stockholders Per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable to common stockholders per common share from operations.


	Three Months Ended March 31,
	2025		2024
Numerator - Basic:
Net (loss) income	$	(3,817)	$	4,475
Net loss attributable to redeemable non-controlling interests	—		(5)
Preferred stock dividend	—		(2,129)
Net (loss) income attributable to Synchronoss	(3,817)		2,341




Numerator - Diluted:
Net (loss) income attributable to Synchronoss	(3,817)		2,341




Net (loss) income attributable to Synchronoss	$	(3,817)	$	2,341

Denominator:
Weighted average common shares outstanding — basic	10,201		9,842
Dilutive effect of:


Shares from assumed conversion of PBCU	—		277
Options and unvested restricted shares	—		158
Weighted average common shares outstanding — diluted	$	10,201	$	10,277


Earnings (loss) per share:



Basic	$	(0.37)	$	0.24




Diluted	$	(0.37)	$	0.23


Anti-dilutive stock options and restricted stock awards1	459		627

________________________________

1 Represent stock options and restricted stock awards excluded from the Diluted EPS calculations because the effect would be anti-dilutive.

Revenue (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	Three Months Ended March 31,
	2025		2024
Geography:
North America	$	40,355	$	39,641
APAC	1,506		1,548
EMEA	352		1,776
Total revenue	$	42,213	$	42,965

Service Line:
Professional Services	$	2,727	$	3,773

Subscription Services	39,292		39,143
License	194		49
Total revenue	$	42,213	$	42,965

Schedule of Significant Changes in the Contract Liabilities Balance

Significant changes in the contract liabilities balance during the period are as follows:


	Contract Liabilities1
Balance at December 31, 2024	$	837
Revenue recognized in the period	(42,264)
Amounts billed but not initially recognized as revenue	42,027


Balance at March 31, 2025	$	600

________________________________

1 Comprised of Deferred Revenue. $0.3 million of revenue recognized in the period was included in the contract liability balance at the beginning of the period.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	16,666,667	16,667,000
Common stock, shares issued (in shares)	11,498,000	11,075,000
Common stock, shares outstanding (in shares)	11,498,000	11,075,000

Debt - 2024 Term Loan (Details) - USD ($)		3 Months Ended
Debt - 2024 Term Loan (Details) - USD ($)	Jun. 28, 2024	Mar. 31, 2025	Oct. 25, 2021	Jun. 30, 2021
Term Loan Facility
Debt Instrument [Line Items]
Quarterly principal repayment amount		$ 500,000
Line of Credit \| 2024 Term Loan:
Debt Instrument [Line Items]
Borrowing capacity	$ 75,000,000
Debt instrument, variable interest rate, type [extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Basis spread on variable rate	5.50%
Basis spread on variable rate, floor	2.50%
Exit fee required if conditions met	$ 1,500,000
Line of Credit \| 2024 Term Loan: \| September 30, 2024 through June 30, 2026
Debt Instrument [Line Items]
Quarterly principal repayment amount	468,750
Line of Credit \| 2024 Term Loan: \| September 30, 2026 and thereafter
Debt Instrument [Line Items]
Quarterly principal repayment amount	$ 1,875,000
Senior Notes \| 2021 Senior Notes:
Debt Instrument [Line Items]
Interest rate, as a percent			8.375%	8.375%

Accounts Receivable Securitization Facility	3 Months Ended
Accounts Receivable Securitization Facility	Mar. 31, 2025
Receivables [Abstract]
Accounts Receivable Securitization Facility	Accounts Receivable Securitization Facility On June 23, 2022 (the “A/R Closing Date”), the Company and certain of its subsidiaries (together with the Company, the “Company Group”) entered into a $15 million accounts receivable securitization facility (the “A/R Facility”) with Norddeutsche Landesbank Girozentrale. The A/R Facility transaction includes (i) Receivables Purchase Agreements (the “Receivables Purchase Agreements”) dated as of the Closing Date, among the Company, as initial servicer, SN Technologies, LLC, a wholly owned special purpose subsidiary of the Company (“SN Technologies”), as seller, Norddeutsche Landesbank Girozentrale, as administrative agent (the “Administrative Agent”), and the purchasers party thereto, the group agents party thereto and the originators party thereto; (ii) Purchase and Sale Agreements (the “Purchase and Sale Agreements”) dated as of the Closing Date, between the Company Group, as originators (the “Originators”), and SN Technologies, as purchaser; (iii) the Administration Agreement (the “Administration Agreement”) dated as of the Closing Date, between the Company, as servicer, and Finacity Corporation, as administrator; and (iv) the Performance Guaranty (the “Performance Guaranty”) dated as of the Closing Date made by the Company in favor of the Administrative Agent. Pursuant to the Purchase and Sale Agreements, the Originators will sell existing and future accounts receivable (and related assets) (the “Receivables”) to SN Technologies in exchange for cash and/or subordinated notes. The Originators and SN Technologies intend the transactions contemplated by the Purchase and Sale Agreements to be true sales to SN Technologies by the respective Originators. Pursuant to the Receivables Purchase Agreement, SN Technologies will in turn grant an undivided security interest to the Administrative Agent in the Receivables in exchange for a credit facility permitting borrowings of up to $15 million outstanding from time to time. Yield is payable to the Administrative Agent under the Receivables Purchase Agreements at a variable rate based on the Norddeutsche Landesbank Girozentrale’s Hanover funding rate plus a 2.35% margin. The Company’s commitment fee shall equal 0.85% per annum on the average daily unused outstanding capital. Pursuant to the Performance Guaranty, the Company guarantees the performance of the Originators of their obligations under the Purchase and Sale Agreements. The Company has not agreed to guarantee any obligations of SN Technologies or the collection of any of the receivables and will not be responsible for any obligations to the extent the failure to perform such obligations by the Company or any Originators results from receivables being uncollectible on account of the insolvency, bankruptcy or lack of creditworthiness or other financial inability to pay of the related obligor. Unless earlier terminated or subsequently extended pursuant to the terms of the Receivables Purchase Agreement, the A/R Facility will expire on June 23, 2025. The Company did not draw on the A/R Facility for the three months ended March 31, 2025. The Company drew $3.0 million on the A/R Facility for the three months ended March 31, 2024, and had repaid the balance in full as of March 31, 2024. The interest associated with the draw and repayment was not material for the prior period. The drawdown and subsequent repayment of the A/R Facility represent financing activities, as reported on the Condensed Consolidated Statements of Cash Flows. As of March 31, 2025 approximately $2.3 million of the Company’s receivables are held by SN Technologies. As of March 31, 2025 there were no outstanding borrowings against the A/R facility and $1.3 million was available for the Company to draw under the A/R Facility. The Company drew $3.0 million on the A/R Facility on April 21, 2025 and had not repaid the balance as of the day of filing this quarterly Form 10-Q.

Segment Information - Schedule of Reconciliation of Operating Profit (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Segment Reporting Information [Line Items]
Net revenues	$ 42,213	$ 42,965
Less (add):
Depreciation and amortization	4,078	4,359
Interest income	(233)	(208)
Interest expense	5,422	3,517
Provision (benefit) for income taxes	1,278	603
Net (loss) income	(3,817)	4,475
Reportable Segment
Less (add):
Net (loss) income	(3,817)	4,475
Reportable Segment \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	42,213	42,965
Less (add):
Employees related expense net of capitalized software	18,834	19,826
Hosting expense	3,732	3,946
Professional services expense	4,413	5,304
Other segment items	8,506	1,143
Depreciation and amortization	4,078	4,359
Interest income	(233)	(208)
Interest expense	5,422	3,517
Provision (benefit) for income taxes	1,278	603
Net (loss) income	(3,817)	4,475
Reportable Segment \| Segment Reporting, Reconciling Item, Corporate Nonsegment
Less (add):
Net (loss) income	$ 0	$ 0

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Operating Leases
2025	$ 5,683
2026	7,577
2027	6,216
2028	4,276
2029	0
Total future lease payments	23,752
Less: amount representing interest	(2,782)
Present value of future lease payments (lease liability)	20,970	$ 22,330
Finance Leases
2025	733
2026	661
2027	144
2028	0
2029	0
Total future lease payments	1,538
Less: amount representing interest	(97)
Present value of future lease payments (lease liability)	$ 1,441	$ 1,178

Earnings per Common Share (EPS)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings per Common Share (EPS)

Earnings per Common Share (“EPS”)

Basic EPS is computed based upon the weighted average number of common shares outstanding for the year. Diluted EPS is computed based upon the weighted average number of common shares outstanding for the year plus the dilutive effect of common stock equivalents using the treasury stock method and the average market price of the Company’s common stock for the year. The Company includes participating securities (such as performance-based cash unit awards) in the computation of EPS pursuant to the two-class method. The two-class method of computing earnings per share is an allocation method that calculates earnings per share for common stock and participating securities. During periods of net loss, no effect is given to the participating securities because they do not share in the losses of the Company.

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable to common stockholders per common share from operations.


	Three Months Ended March 31,
	2025		2024
Numerator - Basic:
Net (loss) income	$	(3,817)	$	4,475
Net loss attributable to redeemable non-controlling interests	—		(5)
Preferred stock dividend	—		(2,129)
Net (loss) income attributable to Synchronoss	(3,817)		2,341




Numerator - Diluted:
Net (loss) income attributable to Synchronoss	(3,817)		2,341




Net (loss) income attributable to Synchronoss	$	(3,817)	$	2,341

Denominator:
Weighted average common shares outstanding — basic	10,201		9,842
Dilutive effect of:


Shares from assumed conversion of PBCU	—		277
Options and unvested restricted shares	—		158
Weighted average common shares outstanding — diluted	$	10,201	$	10,277


Earnings (loss) per share:



Basic	$	(0.37)	$	0.24




Diluted	$	(0.37)	$	0.23


Anti-dilutive stock options and restricted stock awards1	459		627

________________________________

1 Represent stock options and restricted stock awards excluded from the Diluted EPS calculations because the effect would be anti-dilutive.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income tax expense	$ 1,278	$ 603
Effective tax rate	(50.30%)	11.90%
Unrecognized tax benefit	$ 4,400
Decrease in unrecognized tax benefits is reasonably possible	$ 3,800

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net (loss) income:	$ (3,817)	$ 4,475
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	8,853	(6,109)
Comprehensive income (loss)	5,036	(1,634)
Comprehensive loss attributable to redeemable non-controlling interests	0	(5)
Comprehensive income (loss) attributable to Synchronoss	$ 5,036	$ (1,639)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Additional Financial Information (Tables)

3 Months Ended

Mar. 31, 2025

Other Income and Expenses [Abstract]

Schedule of Components of Other Income (expense), Net

The following table sets forth the components of Other Income (expense), net included in the Condensed Consolidated Statements of Operations:


	Three Months Ended March 31,
	2025		2024
Foreign exchange gains (losses)	$	(5,579)	$	3,801



Other1	—		10
Total	$	(5,579)	$	3,811

________________________________

1 Represents an aggregate of individually immaterial transactions.

Legal Matters	3 Months Ended
Legal Matters	Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	Legal Matters In the ordinary course of business, the Company is regularly subject to various claims, suits, regulatory inquiries and investigations. The Company records a liability for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable, and the loss can be reasonably estimated. Management has also identified certain other legal matters where they believe an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against the Company, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the Company’s business, financial position, results of operations, or cash flows, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations, or financial condition of the Company. In the third quarter of 2017, the SEC and Department of Justice (the “DoJ”) initiated investigations in connection with certain financial transactions that the Company effected in 2015 and 2016 and its disclosure of and accounting for such transactions, which the Company restated in the third quarter of 2018 in its restated annual and quarterly financial statements for 2015 and 2016. On June 7, 2022 the SEC approved the Offer of Settlement and filed an Order Instituting Cease-And-Desist Proceedings pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-And-Desist Order (the “SEC Order”). Pursuant to the terms of the SEC Order, the Company consented to pay a civil penalty in the amount of $12.5 million in equal quarterly installments over two years and to cease and desist from committing or causing any violations of Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and the associated rules thereunder. Failure to comply with the provisions of the SEC Order could result in further actions by one or both governmental agencies which could have a material adverse effect on the Company’s results of operations. The penalties have been paid in full as of March 31, 2024. Also on June 7, 2022, the SEC filed a civil action against two former members of the Company’s management team (the “defendants”), alleging misconduct arising out of certain of the restated transactions that took place in 2015 and 2016 investigated by the SEC as set forth above. During the second quarter of 2024, the Court entered final judgments in both of these civil actions pursuant to which the defendants agreed to pay civil penalties totaling an aggregate of $145,000 and one defendant agreed to disgorge incentive compensation received during the period of the restated transactions in the amount of $430,741. The Company has indemnified the defendants in these actions for certain costs and expenses, including reasonable attorney’s fees. During the quarter ended March 31, 2024, the Company reimbursed the defendants for the remaining costs and expenses, and as of March 31, 2025, no additional amounts are owed pursuant to this indemnification obligation. The Company is not currently subject to any other legal proceedings that would be expected to have a material adverse effect on its operations; however, the Company may from time to time become a party to various legal proceedings arising in the ordinary course of its business.

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 767	$ 408
Other	162	129
Total interest expense	5,422	3,517
2024 Term Loan:
Debt Instrument [Line Items]
Amortization of debt issuance costs	384	0
Interest on borrowings	1,838	0
Amortization of exit fee	85	0
Senior Notes \| 2021 Senior Notes:
Debt Instrument [Line Items]
Amortization of debt issuance costs	383	408
Interest on borrowings	2,542	2,954
Amortization of debt discount	$ 28	$ 26

Debt - Repurchase of Senior Notes and Series B Preferred (Details) $ in Millions	Jun. 28, 2024 USD ($) note
Debt Instrument [Line Items]
Repurchase of debt and equity, consideration transferred	$ 66.5
Non-interest-bearing deferred consideration	2.6
Total consideration	$ 69.1
2021 Senior Notes: \| Senior Notes
Debt Instrument [Line Items]
Repurchase percentage of debt	14.00%
BRPI \| 2021 Senior Notes: \| Senior Notes
Debt Instrument [Line Items]
Number of notes repurchased \| note	787,590
Series B Preferred Stock
Debt Instrument [Line Items]
Preferred stock, repurchase percentage	100.00%

Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into the nature of the services and geographical regions. The Company’s geographic regions are the North America, Europe, the Middle East and Africa (“EMEA”), and Asia Pacific (“APAC”). The majority of the Company’s revenue is from the technology, media, and telecom (“TMT”) sector.


	Three Months Ended March 31,
	2025		2024
Geography:
North America	$	40,355	$	39,641
APAC	1,506		1,548
EMEA	352		1,776
Total revenue	$	42,213	$	42,965

Service Line:
Professional Services	$	2,727	$	3,773

Subscription Services	39,292		39,143
License	194		49
Total revenue	$	42,213	$	42,965

Trade Accounts Receivable and Contract Balances

The Company classifies its right to consideration in exchange for deliverables as either a receivable or a contract asset. A

receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, the Company recognizes a receivable for revenues related to its time and materials and volume-based contracts. The Company presents such receivables in Trade accounts receivable, net on the Condensed Consolidated Balance Sheets at their net estimated realizable value. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that may not be collected. The allowance is based upon an assessment of customer creditworthiness, historical payment experience, the age of outstanding receivables, and other applicable factors.

A contract asset is a right to consideration that is conditional upon factors other than the passage of time. For example, the Company would record a contract asset if it records revenue on a professional services engagement but are not entitled to bill until the Company achieves specified milestones. The Company presents such contract assets in Other current assets and Other noncurrent assets on the Condensed Consolidated Balance Sheets. The contract asset balance was $0.5 million and $0.6 million at March 31, 2025 and December 31, 2024, respectively.

Amounts collected in advance of services being provided are accounted for as contract liabilities, which are presented as Deferred revenue, current on the Condensed Consolidated Balance Sheets and are realized with the associated revenue recognized under the contract. Nearly all of the Company's contract liabilities balance are related to services revenue, primarily subscription services contracts.

The Company’s contract assets and liabilities are reported in a net position on a customer basis at the end of each reporting period.

Significant changes in the contract liabilities balance during the period are as follows:


	Contract Liabilities1
Balance at December 31, 2024	$	837
Revenue recognized in the period	(42,264)
Amounts billed but not initially recognized as revenue	42,027


Balance at March 31, 2025	$	600

________________________________

1 Comprised of Deferred Revenue. $0.3 million of revenue recognized in the period was included in the contract liability balance at the beginning of the period.

Transaction Price Allocated to the Remaining Performance Obligations

Topic 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of March 31, 2025. The Company has elected not to disclose transaction price allocated to remaining performance obligations for:

1.Contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty.

2.Contracts for which the Company recognizes revenues based on the right to invoice for services performed.

3.Variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with Topic 606 Section 10-25-14(b), for which the criteria in Topic 606 Section 10-32-40 have been met. This applies to a limited number of situations where the Company is dependent upon data from a third party or where fees are highly variable.

Many of the Company’s performance obligations meet one or more of these exemptions. Specifically, the Company has excluded the following from the Company’s remaining performance obligations, all of which will be resolved in the period in which amounts are known:

•consideration for future transactions, above any contractual minimums

•consideration for success-based transactions contingent on third party data

•credits for failure to meet future service level requirements

As of March 31, 2025, the aggregate amount of transaction price allocated to remaining performance obligations, other than those meeting the exclusion criteria above, was $149.3 million, of which approximately 88.8% is expected to be recognized as revenues within 2 years, and the remainder thereafter.

Estimates of revenue expected to be recognized in future periods also exclude unexercised customer options to purchase services that do not represent material rights to the customer. Customer options that do not represent a material right are only accounted for in accordance with Topic 606 when the customer exercises its option to purchase additional goods or services.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

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+ Details

Commitments (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 15,242
2026	3,431
2027	1,903
2028	142
Total	$ 20,718

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Additional Financial Information

3 Months Ended

Mar. 31, 2025

Other Income and Expenses [Abstract]

Additional Financial Information

Other Income (Expense)

The following table sets forth the components of Other Income (expense), net included in the Condensed Consolidated Statements of Operations:


	Three Months Ended March 31,
	2025		2024
Foreign exchange gains (losses)	$	(5,579)	$	3,801



Other1	—		10
Total	$	(5,579)	$	3,811

________________________________

1 Represents an aggregate of individually immaterial transactions.

The non-cash impact of the foreign exchange gains and losses on intercompany payables and receivables is reflected as an adjustment to reconcile the Net income to cash within the Other, net line item in the operating activities, as reported on the Condensed Consolidated Statements of Cash Flows.

Additional Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Other Income and Expenses [Abstract]
Foreign exchange gains (losses)	$ (5,579)	$ 3,801
Other	0	10
Total	$ (5,579)	$ 3,811

Fair Value Measurements

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

In accordance with US GAAP, fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy prioritizes the inputs used to measure fair value as follows:

•Level 1 - Observable inputs - quoted prices in active markets for identical assets and liabilities.

•Level 2 - Observable inputs other than the quoted prices in active markets for identical assets and liabilities includes quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, and amounts derived from valuation models where all significant inputs are observable in active markets.

•Level 3 - Unobservable inputs - includes amounts derived from valuation models where one or more significant inputs are unobservable and require the Company to develop relevant assumptions.

The following is a summary of assets and liabilities, and their related classifications under the fair value hierarchy:


	March 31, 2025
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Money market accounts1	$	12,110	$	12,110	$	—	$	—


Total assets	$	12,110	$	12,110	$	—	$	—
Liabilities
Performance-based cash units2,3	$	1,643	$	—	$	1,643	$	—

Total liabilities	$	1,643	$	—	$	1,643	$	—


	December 31, 2024
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Money market accounts1	$	9,552	$	9,552	$	—	$	—


Total assets	$	9,552	$	9,552	$	—	$	—
Liabilities
Performance-based cash units2,3	$	948	$	—	$	948	$	—

Total liabilities	$	948	$	—	$	948	$	—

________________________________

1 Included in Cash and cash equivalents on the Condensed Consolidated Balance Sheets.

2 The short term portion is included in Accrued expenses and the long-term portion is included in Other liabilities, non-current on the Condensed Consolidated Balance Sheets.

3 For a discussion of performance-based cash units see Note 12. Stock Plans of the Notes to Condensed Consolidated Financial Statements in Item 1 of this Form 10-Q.

Refer to Note 9. Debt of the Notes to Condensed Consolidated Financial Statements in Item 1 of this Form 10-Q for presentation of Fair Value of Debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Commitments (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Aggregate Annual future Minimum Payments Under Non Cancelable Agreements

Aggregate annual future minimum payments under non-cancelable agreements as of March 31, 2025 for each year subsequent to December 31, 2024 and thereafter, are as follows:


	Non-cancelable Agreements
2025	$	15,242
2026	3,431
2027	1,903
2028	142

Total	$	20,718

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Finance leases:
Tax - ASC 740/FIN 48 Interest	$ 31	$ 28
Depreciation expense	186	167
Total finance leases	217	195
Operating leases:
Operating lease cost	1,033	1,424
Other lease costs and income:
Variable lease costs	363	141
Sublease income	(2,452)	(1,019)
Total operating leases	(1,056)	546
Total net lease cost	(839)	$ 741
Past due sublease payment in the current period	$ 1,600

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023		10,314
Beginning balance at Dec. 31, 2023	$ 26,632	$ 1	$ 483,527	$ (25,732)	$ (431,164)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,089		1,089
Issuance of restricted stock (in shares)		1
Issuance of restricted stock	0
Preferred stock dividend	(2,129)		(2,129)
Net income (loss)	4,475				4,475
Non-controlling interest	0		5		(5)
Total other comprehensive income (loss)	(6,109)			(6,109)
Ending balance (in shares) at Mar. 31, 2024		10,315
Ending balance at Mar. 31, 2024	$ 23,958	$ 1	482,492	(31,841)	(426,694)
Beginning balance (in shares) at Dec. 31, 2024	11,075	11,075
Beginning balance at Dec. 31, 2024	$ 29,775	$ 1	495,906	(41,137)	(424,995)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	1,436		1,436
Issuance of restricted stock (in shares)		501
Issuance of restricted stock	0
Issuance of common stock on exercise of options (in shares)		1
Issuance of common stock on exercise of options	13		13
Shares withheld for taxes in connection with issuance of restricted stock (in shares)		(79)
Shares withheld for taxes in connection with issuance of restricted stock	(822)		(822)
Net income (loss)	(3,817)				(3,817)
Total other comprehensive income (loss)	$ 8,853			8,853
Ending balance (in shares) at Mar. 31, 2025	11,498	11,498
Ending balance at Mar. 31, 2025	$ 35,438	$ 1	$ 496,533	$ (32,284)	$ (428,812)

Capital Structure	3 Months Ended
Capital Structure	Mar. 31, 2025
Stockholders' Equity Note [Abstract]
Capital Structure	Capital Structure As of March 31, 2025, the Company’s authorized capital stock was 26,666,667 shares of stock with a par value of $0.0001, of which 16,666,667 shares were designated as common stock and 10,000,000 shares were designated as preferred stock. Common Stock Each holder of common stock is entitled to vote on all matters and is entitled to one vote for each share held. Dividends on common stock will be paid when, and if, declared by the Company’s Board of Directors. No dividends have ever been declared or paid by the Company. Treasury Stock The Company’s Treasury Stock balance is nil as of March 31, 2025. Preferred Stock The Company’s Board of Directors (the “Board”) is authorized to issue preferred shares and has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges, and liquidation preferences of preferred stock. Series B Non-Convertible Preferred On June 30, 2021, the Company closed a private placement of 75,000 shares of its Series B Perpetual Non-Convertible Preferred Stock, par value $0.0001 per share, with an initial liquidation preference of $1,000 per share (the “Series B Preferred”), for net proceeds of $72.8 million (the “Series B Transaction”). The sale of the Series B Preferred was pursuant to the Series B Preferred Stock Purchase Agreement, dated as of June 24, 2021 (the “Series B Purchase Agreement”), between the Company and BRPI. In connection with the closing of the Series B Transaction, the Company (i) filed a Certificate of Designation with the State of Delaware setting forth the rights, preferences, privileges, qualifications, restrictions and limitations on the Series B Preferred (the “Series B Certificate”) and (ii) entered into an Investor Rights Agreement with B. Riley Financial, Inc. (“B. Riley Financial”) and BRPI setting forth certain governance and registration rights of B. Riley Financial with respect to the Company. Repurchase of Series B Preferred On June 28, 2024 the Company repurchased all outstanding shares of the Series B Preferred stock, as discussed in Note 9. Debt of the Notes to Condensed Consolidated Financial Statements in Item 1 of this Form 10-Q. On July 1, 2024 the Company filed a Certificate of Elimination to the Series B Certificate with the Secretary of State of the State of Delaware. As a result of the Series B Repurchase, no shares of the Series B Preferred remain outstanding and none are authorized for issuance as of March 31, 2025, and the authorized shares of Series B Preferred Stock were returned to the status of authorized but unissued shares of preferred stock of the Company, without designation as to series pursuant to the Certificate of Designations.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 29,138	$ 33,375
Accounts receivable, net	19,286	18,129
Prepaid & other current assets	29,781	29,878
Total current assets	78,205	81,382
Non-current assets:
Property and equipment, net	3,280	3,154
Operating lease right-of-use assets	7,900	8,445
Goodwill	182,378	179,408
Intangible assets, net	19,135	19,117
Other assets, non-current	2,438	2,319
Total non-current assets	215,131	212,443
Total assets	293,336	293,825
Current liabilities:
Accounts payable	4,158	7,067
Accrued expenses	31,515	30,519
Deferred revenues, current	600	837
Debt, current	1,875	1,875
Total current liabilities	38,148	40,298
Long-term debt, net of debt issuance costs	185,166	184,840
Deferred tax liabilities	3,279	4,903
Leases, non-current	15,394	16,776
Other liabilities, non-current	3,411	4,733
Total liabilities	245,398	251,550
Commitments and contingencies:
Redeemable non-controlling interest	12,500	12,500
Stockholders’ equity:
Common stock, $0.0001 par value; 16,667 and 16,667 shares authorized, 11,498 and 11,075 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	1	1
Additional paid-in capital	496,533	495,906
Accumulated other comprehensive loss	(32,284)	(41,137)
Accumulated deficit	(428,812)	(424,995)
Total stockholders’ equity	35,438	29,775
Total liabilities and stockholders’ equity	$ 293,336	$ 293,825

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Held and their Related Classifications Under the Fair Value Hierarchy

The following is a summary of assets and liabilities, and their related classifications under the fair value hierarchy:


	March 31, 2025
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Money market accounts1	$	12,110	$	12,110	$	—	$	—


Total assets	$	12,110	$	12,110	$	—	$	—
Liabilities
Performance-based cash units2,3	$	1,643	$	—	$	1,643	$	—

Total liabilities	$	1,643	$	—	$	1,643	$	—


	December 31, 2024
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Money market accounts1	$	9,552	$	9,552	$	—	$	—


Total assets	$	9,552	$	9,552	$	—	$	—
Liabilities
Performance-based cash units2,3	$	948	$	—	$	948	$	—

Total liabilities	$	948	$	—	$	948	$	—

________________________________

1 Included in Cash and cash equivalents on the Condensed Consolidated Balance Sheets.

2 The short term portion is included in Accrued expenses and the long-term portion is included in Other liabilities, non-current on the Condensed Consolidated Balance Sheets.

3 For a discussion of performance-based cash units see Note 12. Stock Plans of the Notes to Condensed Consolidated Financial Statements in Item 1 of this Form 10-Q.

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Money market accounts	$ 12,110	$ 9,552
Total assets	12,110	9,552
Liabilities
Performance-based cash units	1,643	948
Total liabilities	1,643	948
(Level 1)
Assets
Money market accounts	12,110	9,552
Total assets	12,110	9,552
Liabilities
Performance-based cash units	0	0
Total liabilities	0	0
(Level 2)
Assets
Money market accounts	0	0
Total assets	0	0
Liabilities
Performance-based cash units	1,643	948
Total liabilities	1,643	948
(Level 3)
Assets
Money market accounts	0	0
Total assets	0	0
Liabilities
Performance-based cash units	0	0
Total liabilities	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Operating activities:
Net (loss) income from operations	$ (3,817)	$ 4,475
Adjustments to reconcile net (loss) income to net cash from operating activities:
Depreciation and amortization	4,078	4,359
Amortization of debt issuance costs	767	408
Deferred income taxes	(1,668)	7
Stock-based compensation	2,129	1,110
Other, net	4,753	(3,931)
Changes in operating assets and liabilities:
Accounts receivable, net	(1,093)	918
Prepaid expenses and other current assets	120	1,627
Accounts payable	(3,221)	(1,149)
Accrued expenses	1,145	(6,158)
Other assets	(95)	(5)
Deferred revenues	(261)	(422)
Other liabilities	(2,544)	(712)
Net cash provided by operating activities	293	527
Investing activities:
Purchases of fixed assets	(324)	(517)
Additions to capitalized software	(2,986)	(3,286)
Net cash used in investing activities	(3,310)	(3,803)
Financing activities:
Share-based compensation-related proceeds	13	0
Taxes paid on withholding shares	(822)	0
Repayment of Term Loan	(469)	0
Drawdown on A/R Facility	0	3,000
Repayment of A/R Facility	0	(3,000)
Net cash used in financing activities	(1,278)	(2,129)
Effect of exchange rate changes on cash	58	(67)
Net decrease in cash and cash equivalents	(4,237)	(5,472)
Beginning cash and cash equivalents	33,375	24,572
Ending cash and cash equivalents	29,138	19,100
Series B Preferred Stock
Financing activities:
Series B Preferred dividend paid in the form of cash	$ 0	$ (2,129)

Leases - Operating/Financing Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Operating lease assets:
Non-current operating lease ROU assets	$ 7,900	$ 8,445
Finance lease assets:
Equipment, net	$ 1,370	$ 1,137
Operating lease liabilities:
Operating lease, liability, current, statement of financial position [extensible list]	Accrued expenses	Accrued expenses
Lease liabilities, current	$ 6,179	$ 6,010
Operating lease, liability, noncurrent, statement of financial position [extensible list]	Leases, non-current	Leases, non-current
Lease liabilities, non-current	$ 14,791	$ 16,320
Total operating lease liabilities	$ 20,970	$ 22,330
Finance lease liabilities:
Finance lease, liability, current, statement of financial position [extensible list]	Accrued expenses	Accrued expenses
Lease liabilities, current	$ 838	$ 722
Finance lease, liability, noncurrent, statement of financial position [extensible list]	Leases, non-current	Leases, non-current
Lease liabilities, non-current	$ 603	$ 456
Total finance lease liabilities	$ 1,441	$ 1,178

Restructuring (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Schedule of the Restructuring Accrual and Changes

A summary of the Company’s restructuring accrual at March 31, 2025 and changes during the three months ended March 31, 2025, are presented below:


	Employee Termination Costs
Balance at December 31, 2024	$	712
Charges	118
Payments	(672)

Balance at March 31, 2025	$	158

Basis of Presentation and Consolidation (Policies)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

Recently Issued Accounting Standards

Standards recently adopted

Standard

Description

Effect on the financial statements

Update 2024-01 - Compensation—Stock Compensation
(Topic 718) - Scope Application of Profits Interest and Similar Awards

The Company evaluated these changes and noted that the adoption of this standard did not have a material impact on the Company’s consolidated financial position or results of operations.

Date of adoption: January 1, 2025

Standards issued not yet adopted

Standard

Description

Effect on the financial statements

Update 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

The Company continues to evaluate these changes and does not anticipate any material impact on the Company’s consolidated financial position or results of operations upon adoption.

Planned date of adoption: January 1, 2027

Update 2023-09 - Income Taxes (Topic 740) - Improvements to Income Tax Disclosures

Planned date of adoption: December 31, 2025

Fair Value Measurements

•Level 1 - Observable inputs - quoted prices in active markets for identical assets and liabilities.

•Level 3 - Unobservable inputs - includes amounts derived from valuation models where one or more significant inputs are unobservable and require the Company to develop relevant assumptions.

Accumulated Other Comprehensive (Loss) / Income

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive (Loss) / Income

The changes in accumulated other comprehensive (loss) income during the three months ended March 31, 2025 were as follows:


	Balance at December 31, 2024		Other Comprehensive Income		Tax Effect		Balance at March 31, 2025
Foreign currency	$	(37,617)	$	8,853	$	—	$	(28,764)
Unrealized loss on intercompany foreign currency transactions	(3,520)		—		—		(3,520)

Total	$	(41,137)	$	8,853	$	—	$	(32,284)

Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Debt

2024 Term Loan

On June 28, 2024 (the “Effective Date”), the Company entered into a Credit Agreement (the “Credit Agreement”) with BGC Lender Rep LLC, as administrative agent, and the lenders party thereto. The Credit Agreement established a senior secured term loan facility of up to $75.0 million (the “Term Loan”), all of which was funded on the Effective Date. The proceeds of the Term Loan were used to (i) fund the Senior Note Repurchase (as defined below), (ii) to fund the Series B Repurchase (as defined below) and (iii) to pay transaction fees and expenses associated with the closing of the transactions contemplated by the Credit Agreement.

The Term Loan matures on June 28, 2028 (the “Maturity Date”); provided that if (i) the Company’s 8.375% Senior Notes due 2026 (the “Senior Notes”) are not refinanced, redeemed or repaid in full prior to March 31, 2026, the Maturity Date shall be March 31, 2026 and (ii) in the event of a refinancing, redemption or repayment of the Senior Notes in full prior to March 31, 2026, the Maturity Date shall be the earlier of (A) June 28, 2028 and (B) the date that is twelve (12) months prior to the final stated maturity date for the indebtedness resulting from such refinancing, redemption or repayment of the Senior Notes in full.

The Term Loan bears interest at a rate per annum equal to the Adjusted Term Secured Overnight Financing Rate (“SOFR”) (as defined in the Credit Agreement) for the applicable interest period, plus 5.50%, subject to a floor of 2.50%.

The Credit Agreement requires the Company to repay the outstanding principal amounts of the Term Loan in an amount of $468,750 on the last day of each fiscal quarter beginning on September 30, 2024 and ending on June 30, 2026. Starting on September 30, 2026, and on the last day of each fiscal quarter thereafter, such repayments of outstanding principal shall be $1,875,000. The final principal repayment of the Term Loan shall be repaid on the Maturity Date in an amount equal to the aggregate principal amount of the Term Loan outstanding on such date. The Company may at any time voluntarily prepay the

Term Loan, in whole or in part subject to a variable prepayment fee if such prepayment is made prior to the third anniversary of the Effective Date. The Company is required to pay an exit fee of $1.5 million if, among other things, the Maturity Date is extended beyond March 31, 2026. The Credit Agreement also contains mandatory prepayment provisions that are customary for secured financings of this type from excess cash flow and with the proceeds of certain asset sales, tax refunds, equity sales or issuances, and debt issuances, each as more fully described in the Credit Agreement.

The Company made $0.5 million of principal payments on the Term Loan for the three months ending March 31, 2025 in line with the terms of the Credit Agreement.

The Company’s obligations under the Credit Agreement are secured by substantially all of the assets (other than existing real property) of Synchronoss. Other than an Irish Subsidiary (as defined in the Credit Agreement), none of the Company’s direct or indirect foreign subsidiaries or immaterial subsidiaries has guaranteed the loans under the Credit Agreement, but under certain circumstances, such subsidiaries may become guarantors. The Credit Agreement contains customary covenants that limit the Company’s ability and its restricted subsidiaries to, among other things, (i) incur additional indebtedness, (ii) pay dividends or make certain other restricted payments, (iii) sell assets, (iv) make certain investments, (v) grant liens and (vi) enter into transactions with affiliates. These covenants are subject to exceptions and qualifications set forth in the Credit Agreement. The financial covenants set forth in the Credit Agreement include (i) a maximum consolidated secured leverage ratio, which will be tested at the end of each of the Company’s fiscal quarter and (ii) an average liquidity requirement for any calendar month. All borrowings under the Credit Agreement are subject to the satisfaction of customary conditions, including the absence of a default and the accuracy of representations and warranties subject to certain exceptions. Upon the occurrence and continuance of an event of default, which, for example, could be triggered by a breach or violation of, or default under, certain material contracts of the Company, BGC Lender Rep may take either or both of the following actions: (i) terminate the commitments and (ii) declare all outstanding obligations immediately due and payable and take such other actions as set forth in the Credit Agreement.

The Company was in compliance with its debt covenants pertaining to the Term Loan as of March 31, 2025.

2024 Repurchase of Senior Notes and Series B Preferred

On June 28, 2024, the Company used $66.5 million of the proceeds from the Term Loan and $2.6 million non-interest-bearing deferred consideration, which was paid to BRPI in December of 2024, for a total consideration of $69.1 million (“the total consideration”) to repurchase 100% of its outstanding Series B Perpetual Non-Convertible Preferred Stock (the “Series B Preferred”) and 787,590 (14%) of its outstanding Senior Notes from BRPI, a related party.

2021 Senior Notes

On June 30, 2021, the Company closed its underwritten public offering of $120.0 million aggregate principal amount of 8.375% senior notes due 2026 at a par value of $25.00 per senior note (the “Senior Notes”). The offering was conducted pursuant to an underwriting agreement (the “Notes Underwriting Agreement”) dated June 25, 2021, by and among the Company and B. Riley Securities, Inc., as representative of the several underwriters (the “Notes Underwriters”). At the closing, the Company issued $125.0 million aggregate principal amount of Senior Notes, inclusive of $5.0 million aggregate principal amount of Senior Notes issued pursuant to the full exercise of the Notes Underwriters’ option to purchase additional Senior Notes.

The Notes Underwriting Agreement contains customary representations, warranties and covenants of the Company, customary conditions to closing, indemnification obligations of the Company and the Notes Underwriters, including for liabilities under the Securities Act, other obligations of the parties and termination provisions.

On June 30, 2021, the Company entered into an indenture (the “Base Indenture”) and a supplemental indenture (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) with The Bank of New York Mellon Trust Company National Association, as trustee (the “Trustee”), between the Company and the Trustee. The Indenture establishes the form and provides for the issuance of the Senior Notes.

The Senior Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. The Senior Notes are effectively subordinated in right of payment to all of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally subordinated to all existing and future indebtedness of the Company’s subsidiaries, including trade payables. The Senior Notes bear interest at the rate of 8.375% per annum. Interest on the Senior Notes is payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on July 31, 2021. The Senior Notes will mature on June 30, 2026, unless redeemed prior to maturity.

The Company may, at its option, at any time and from time to time, redeem the Senior Notes for cash in whole or in part (i) on or after June 30, 2022 and prior to June 30, 2023, at a price equal to $25.75 per Senior Note, plus accrued and unpaid interest to, but excluding, the date of redemption, (ii) on or after June 30, 2023 and prior to June 30, 2024, at a price equal to $25.50 per Senior Note, plus accrued and unpaid interest to, but excluding, the date of redemption, (iii) on or after June 30, 2024 and prior to June 30, 2025, at a price equal to $25.25 per Senior Note, plus accrued and unpaid interest to, but excluding, the date of redemption, and (iv) on or after June 30, 2025 and prior to maturity, at a price equal to 100% of their principal amount, plus accrued and unpaid interest to, but excluding, the date of redemption. On and after any redemption date, interest will cease to accrue on the redeemed Senior Notes.

The Indenture contains customary events of default and cure provisions. If an uncured default occurs and is continuing, the Trustee or the holders of at least 25% of the principal amount of the Senior Notes may declare the entire amount of the Senior Notes, together with accrued and unpaid interest, if any, to be immediately due and payable. In the case of an event of default involving the Company’s bankruptcy, insolvency or reorganization, the principal of, and accrued and unpaid interest on, the principal amount of the Senior Notes, together with accrued and unpaid interest, if any, will automatically, and without any declaration or other action on the part of the Trustee or the holders of the Senior Notes, become due and payable.

On October 25, 2021, the Company entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) between the Company and B. Riley Securities, Inc. (the “Agent”), a related party, pursuant to which the Company may offer and sell, from time to time, up to $18.0 million of the Company’s 8.375% Senior Notes due 2026. Sales of the additional Senior Notes pursuant to the Sales Agreement, if any, may be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”). Under the Sales Agreement, the Agent will be entitled to compensation of 2.0% of the gross proceeds of all notes sold through it as the Company’s agent.

During the fourth quarter of 2021, the Company sold an additional $16.1 million aggregate principal amount of Senior Notes pursuant to the Sales Agreement. The additional Senior Notes sold have terms identical to the initial Senior Notes and are fungible and vote together with, the initial Senior Notes. The Senior Notes are listed and trade on The Nasdaq Global Market under the symbol “SNCRL.”

On June 28, 2024, Synchronoss repurchased 787,590 of its Senior Notes from BRPI, as described above.

The Company was in compliance with its debt covenants pertaining to the Senior Notes as of March 31, 2025.

On April 24, 2025 the Company entered into an agreement with TP Birch Grove to refinance its existing 2021 Senior Notes and 2024 Term Loan facilities with a new $200 million, four-year Term Loan. Refer to Note 19. Subsequent Events of the Notes to Condensed Consolidated Financial Statements in Item 1 of this Form 10-Q for further detail on the transaction.

Carrying Value of Debt

The carrying amounts of the Company’s borrowings were as follows:


	March 31, 2025		December 31, 2024
2021 Senior Notes:
Senior Notes	$	121,387	$	121,387
Unamortized discount and debt issuance cost1	(2,214)		(2,625)
Carrying value of Senior Notes	119,173		118,762
2024 Term Loan:
Term Loan	73,594		74,063
Unamortized debt issuance cost1	(5,726)		(6,110)

Carrying value of Term Loan	67,868		67,953
Total carrying value of debt	187,041		186,715
Current portion of long-term debt	1,875		1,875
Long-term debt, net of current portion	$	185,166	$	184,840

________________________________

1 Debt issuance costs are deferred and amortized into interest expense using the effective interest method.

Fair Value of Debt

The fair value of the 2021 Senior Notes was determined based on the closing trading price of the Senior Notes as of March 31, 2025 and is categorized accordingly as Level 2 in the fair value hierarchy. The fair value of the 2024 Term Loan was obtained using the Discounted Cash Flow (“DCF”) valuation model with observable inputs as of March 31, 2025 and is categorized accordingly as Level 2 in the fair value hierarchy.


	Balance at March 31, 2025
			Fair Value
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total



Total debt	$	187,041	$	—	$	188,683	$	—	$	188,683


	Balance at December 31, 2024
			Fair Value
	Carrying Amount		(Level 1)		(Level 2)		(Level 3)		Total



Total debt	$	186,715	$	—	$	193,275	$	—	$	193,275

Interest Expense

The following table summarizes the Company’s interest expense:


	Three Months Ended March 31,
	2025		2024
2021 Senior Notes
Amortization of debt issuance costs	$	383	$	408
Interest on borrowings	2,542		2,954
Amortization of debt discount	28		26
2024 Term Loan:
Amortization of debt issuance costs	384		—
Amortization of exit fee	85		—
Interest on borrowings	1,838		—

Other1	162		129
Total interest expense	$	5,422	$	3,517

________________________________

1 Includes interest on uncertain tax provisions.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Income Statement [Abstract]

Net revenues

$ 42,213

$ 42,965

Costs and expenses:

Cost of revenues

^[1]

8,711

10,223

Research and development

9,698

10,331

Selling, general and administrative

11,379

13,257

Restructuring charges

118

219

Depreciation and amortization

4,078

4,359

Total costs and expenses

33,984

38,389

Income from operations

8,229

4,576

Interest income

233

208

Interest expense

(5,422)

(3,517)

Other (expense) income, net

(5,579)

3,811

(Loss) income from operations, before taxes

(2,539)

5,078

Provision for income taxes

(1,278)

(603)

Net (loss) income

(3,817)

4,475

Net loss attributable to redeemable non-controlling interests

(5)

Preferred stock dividend

(2,129)

Net (loss) income attributable to Synchronoss

$ (3,817)

$ 2,341

Earnings (loss) per share:

Basic (in dollars per share)

$ (0.37)

$ 0.24

Diluted (in dollars per share)

$ (0.37)

$ 0.23

Weighted average common shares outstanding:

Basic (in shares)

10,201

9,842

Diluted (in shares)

10,201

10,277

[1]	Cost of revenues excludes depreciation and amortization which are shown separately.

Accounts Receivable Securitization Facility (Details) - USD ($)			3 Months Ended
	Apr. 21, 2025	Jun. 23, 2022	Mar. 31, 2025	Mar. 31, 2024
Accounts Receivable, Noncurrent, Past Due [Line Items]
Proceeds from accounts receivable facility			$ 0	$ 3,000,000
Accounts Receivable Securitization Facility
Accounts Receivable, Noncurrent, Past Due [Line Items]
Accounts receivable securitization facility		$ 15,000,000
Borrowing capacity		$ 15,000,000
Debt instrument, variable interest rate, type [extensible enumeration]		Hanover Rate [Member]
Basis spread on variable rate		2.35%
Commitment fee percentage		0.85%
Proceeds from accounts receivable facility			0	$ 3,000,000.0
Remaining borrowing capacity			1,300,000
Accounts Receivable Securitization Facility \| Subsequent Event
Accounts Receivable, Noncurrent, Past Due [Line Items]
Proceeds from accounts receivable facility	$ 3,000,000.0
Accounts Receivable Securitization Facility \| SN Technologies
Accounts Receivable, Noncurrent, Past Due [Line Items]
Accounts receivable securitization facility			$ 2,300,000

Debt - Offering of Senior Notes (Details)	Apr. 24, 2025 USD ($)	Oct. 25, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 28, 2024 note	Dec. 31, 2021 USD ($)
Term Loan \| TP Birch Grove \| Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 200,000,000
Debt instrument, term	4 years
Senior Notes \| 2021 Senior Notes:
Debt Instrument [Line Items]
Aggregate principal amount		$ 18,000,000	$ 120,000,000		$ 16,100,000
Interest rate, as a percent		8.375%	8.375%
Par value (in dollars per share)			$ 25.00
Amount issued inclusive of underwriters' option to purchase			125,000,000
Amount issued to underwriters			$ 5,000,000
Principal amount redeemed			100.00%
Percentage of debt holders demand full repayment on debt default amount			25.00%
Sales agent compensation, percentage		2.00%
Senior Notes \| 2021 Senior Notes: \| BRPI
Debt Instrument [Line Items]
Number of notes repurchased \| note				787,590
Senior Notes \| 2021 Senior Notes: \| On or after June 30, 2022 and prior to June 30, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price (in dollars per share)			$ 25.75
Senior Notes \| 2021 Senior Notes: \| On or after June 30, 2023 and prior to June 30, 2024
Debt Instrument [Line Items]
Debt instrument, redemption price (in dollars per share)			25.50
Senior Notes \| 2021 Senior Notes: \| On or after June 30, 2024 and prior to June 30, 2025
Debt Instrument [Line Items]
Debt instrument, redemption price (in dollars per share)			$ 25.25

Accumulated Other Comprehensive (Loss) / Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
Changes in accumulated other comprehensive income (loss)
Other Comprehensive Income	$ 8,853
Tax Effect	0
Accumulated Other Comprehensive (Loss) Income
Changes in accumulated other comprehensive income (loss)
Beginning balance	(41,137)
Ending balance	(32,284)
Foreign currency
Changes in accumulated other comprehensive income (loss)
Beginning balance	(37,617)
Other Comprehensive Income	8,853
Tax Effect	0
Ending balance	(28,764)
Unrealized loss on intercompany foreign currency transactions
Changes in accumulated other comprehensive income (loss)
Beginning balance	(3,520)
Other Comprehensive Income	0
Tax Effect	0
Ending balance	$ (3,520)

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt - Carrying Amounts (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Oct. 25, 2021	Jun. 30, 2021
Debt Instrument [Line Items]
Total carrying value of debt	$ 187,041	$ 186,715
Current portion of long-term debt	1,875	1,875
Long-term debt, net of current portion	185,166	184,840
2021 Senior Notes: \| Senior Notes
Debt Instrument [Line Items]
Interest rate, as a percent			8.375%	8.375%
Long-term debt, gross	121,387	121,387
Unamortized discount and debt issuance cost	(2,214)	(2,625)
Total carrying value of debt	119,173	118,762
2024 Term Loan: \| Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	73,594	74,063
Unamortized discount and debt issuance cost	(5,726)	(6,110)
Total carrying value of debt	$ 67,868	$ 67,953

Earnings per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net (loss) income	$ (3,817)	$ 4,475
Net loss attributable to redeemable non-controlling interests	0	(5)
Preferred stock dividend	0	(2,129)
Net (loss) income attributable to Synchronoss	(3,817)	2,341
Net income attributable to Synchronoss	(3,817)	2,341
Net (loss) income attributable to Synchronoss	$ (3,817)	$ 2,341
Denominator:
Weighted average common shares outstanding - basic (in shares)	10,201	9,842
Weighted average common shares outstanding - diluted (in shares)	10,201	10,277
Earnings (loss) per share:
Basic (in dollars per share)	$ (0.37)	$ 0.24
Earnings (loss) per share:
Diluted (in dollars per share)	$ (0.37)	$ 0.23
Anti-dilutive stock options and restricted stock awards (in shares)	459	627
Performance-based cash units
Denominator:
Shares from assumed conversion of PBCU and options and unvested restricted shares (in shares)	0	277
Options and unvested restricted shares
Denominator:
Shares from assumed conversion of PBCU and options and unvested restricted shares (in shares)	0	158

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business General Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) is a leading provider of white label cloud software and services that enable our customers to keep subscribers, systems, networks, and content in sync. The Synchronoss Personal CloudTM platform is a secure and highly scalable white label platform that allows our customers’ subscribers to backup and protect, engage with, and manage their personal content and gives our operator customers the ability to increase average revenue per user (“ARPU”) and reduce churn. Designed for smartphones, tablets, and desktops across all operating systems, our platform ensures a seamless cross-device experience.

Commitments

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments

Non-cancelable Agreements

The Company has various non-cancelable arrangements such as services for hosting, support, and software that expire at various dates, with the latest expiration in 2028.

Aggregate annual future minimum payments under non-cancelable agreements as of March 31, 2025 for each year subsequent to December 31, 2024 and thereafter, are as follows:


	Non-cancelable Agreements
2025	$	15,242
2026	3,431
2027	1,903
2028	142

Total	$	20,718

Note Receivable	3 Months Ended
Note Receivable	Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]
Note Receivable	Note Receivable Sequential Technology International, LLC During the second quarter of 2020, the Company entered into an agreement with Sequential Technology International, LLC (“STIN”) and AP Capital Holdings II, LLC (“APC”) to divest its remaining equity interest in STIN as well as settle its paid-in-kind purchase money note (“PIK note”) and certain amounts due as of December 31, 2019 in consideration for a $9.0 million secured promissory note (the “Note”). As of December 31, 2022, the carrying value of the Note after the consideration of the allowance for credit loss was approximately $4.8 million. The Company determined the allowance on the Note using a discounted cash flow analysis, which discounts the expected future cash flows of the asset to determine the collectible amount. During the third quarter of 2023, the interest payment for the Note was not received by the Company from STIN. In the third quarter of 2023 the Company reassessed the collectability of the Note and determined that a full allowance for credit losses was required equal to the carrying value of the Note, recorded within the Selling, general and administrative expenses line item on the Consolidated Statements of Operations. During the first quarter of 2024, the Company entered into an agreement with STIN and APC to amend the aforementioned promissory note and reduce the principal balance to $3.0 million, forgive outstanding accrued interest and extend the maturity date of the Note to September 2027. On January 8, 2025, the Company and STIN, APC and Sequential Technology International Holdings, LLC (collectively the “Sequential Parties”) entered into an Amended and Restated Settlement Agreement (“Settlement Agreement”) to further amend the amounts due from STIN under the Note in connection with a transaction through which the Sequential Parties were acquired. Under the Settlement Agreement the Company received $1.6 million in past-due rent and contingent consideration which the Company may be entitled to if certain key performance indicators are met within the time periods specified in that Agreement. Given the full allowance for credit losses had been recorded against the Note in 2023, the modification of the terms of the Note had no net impact on the consolidated financial statements for the year ended March 31, 2025.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recognized an income tax expense of approximately $1.3 million and $0.6 million during the three months ended March 31, 2025 and 2024, respectively. The effective tax rate was approximately (50.3)% for the three months ended March 31, 2025, which was lower than the U.S. federal statutory rate primarily due to impact of permanent adjustments, including Global Intangible Low-Taxed Income, and valuation allowances recorded, partially offset by the impact of foreign tax rate differential. The Company’s effective tax rate was approximately 11.9% for the three months ended March 31, 2024, which was lower than the U.S. federal statutory rate primarily due to the impact of valuation allowances recorded and foreign tax rate differential, partially offset by projected current income tax expense in the U.S. and certain foreign jurisdictions. The Company continues to consider all available evidence, including historical profitability and projections of future taxable income together with new evidence, both positive and negative, that could affect the view of the future realization of deferred tax assets. As a result of this assessment, the Company continues to record a valuation allowance against the net deferred tax assets of certain jurisdictions as the realization of these assets is not more likely than not, given uncertainty of future earnings in these jurisdictions. Unrecognized tax benefits associated with uncertain tax positions were $4.4 million at March 31, 2025. We are not able to reasonably estimate when we would make any cash payments required to settle these liabilities, but we do not believe that the ultimate settlement of our obligations will materially affect our liquidity. The Company anticipates that $3.8 million of its currently unrecognized tax benefits, primarily related to research and development credits and other U.S. tax positions, may be recognized within the next 12 months as a result of a lapse of the statute of limitations. During 2021 the Internal Revenue Service commenced an audit of certain of the Company’s prior year U.S. federal income tax filings, including the 2013 through 2020 tax years. The audit is currently ongoing and is in its concluding stages. While the receipt of the associated refunds would materially improve its financial position, the Company does not believe that the results of this audit will have a material effect on its results of operations. The Company has not accrued for any potential interest income related to the expected tax refund as of March 31, 2025. The Pillar Two Global Anti-Base Erosion rules issued by the Organization for Economic Co-operation and Development ("OECD"), a global policy forum, introduced a global minimum tax of 15% which would apply to multinational groups with consolidated financial statement revenue in excess of EUR 750 million. Nearly all OECD member jurisdictions have agreed in principle to adopt these provisions and numerous jurisdictions, including jurisdictions where the Company operates, have enacted these rules effective January 1, 2024. The Company is not currently subject to these rules but is continuing to evaluate the Pillar Two Framework and its potential impact on future periods.

- Definition

The entire disclosure for income tax.

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+ Details

Note Receivable (Details) - Sequential Technology International, LLC and AP Capital Holdings II, LLC - USD ($) $ in Millions	Jan. 08, 2025	Mar. 31, 2024	Dec. 31, 2022	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Other assets fair value disclosure			$ 4.8
Loans Payable
Schedule of Equity Method Investments [Line Items]
Aggregate principal amount				$ 9.0
Promissory Note
Schedule of Equity Method Investments [Line Items]
Aggregate principal amount		$ 3.0
Proceeds from collection of notes receivable	$ 1.6