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home / news releases / SYNC - Synacor reports Q2 missed revenue suspends guidance


SYNC - Synacor reports Q2 missed revenue suspends guidance

  • Synacor (NASDAQ:SYNC) reports Q2 results that missed revenue estimates.
  • Q2 highlights: Revenue was down 43% y/y to $18.2M.
  • Revenue by segment: Software & Services segment totaled $10.9M (+3% y/y), Portal & Advertising totaled $7.3M (-65.8% Y/Y).
  • Adjusted EBITDA margins expand to 34% from 26% in the prior year.
  • Net loss was $3.2M, compared with a net loss of $2.5M in the prior year.
  • Adjusted EBITDA was $0.5M, compared with $1.6M in last year's quarter.
  • The Company ended the quarter with $6.0M in cash and cash equivalents, compared with $8.9M in previous quarter.
  • Guidance: Due to the continued uncertainty surrounding the duration and pace of recovery from the COVID-19 pandemic, management has decided to continue the suspension of quarterly guidance updates until visibility improves.
  • Shares -9% premarket.
  • Previously: Synacor EPS beats by $0.01, misses on revenue (Aug. 11)
  • More news on: Synacor, Inc., Tech stocks news, Stocks on the move, Earnings news and commentary, , ,
Stock Information

Company Name: Synacor Inc.
Stock Symbol: SYNC
Market: NASDAQ
Website: synacor.com

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