SYNC - Synacor reports Q3 misses as pandemic pressure continues

Synacor (SYNC) reports Q3 misses with revenue down 41% Y/Y to $18.5M and a $0.10 loss per share, which missed estimates by $1.84M and $0.03, respectively.Software and services sales were down $1M on the year to $10.1M as double-digit Enterprise SaaS growth was offset by pandemic-related declines in consumer email, maintenance, and enterprise licenses.Adjusted EBITDA was $1M, below the $2.7M in last year's quarter but above the $800K consensus.Synacor expects to be cash flow positive as of q4on a go-forward basis.The company reinstates its Q4 guidance due to improved visibility, seeing $20-22M in revenue (consensus: $23.8M), a GAAP net loss of $0.5-1.1M (consensus: $0.04 loss), and adjusted EBITDA of $2.5-3.1M (consensus: $2.4M).Press release.Previously: Synacor EPS misses by $0.03, misses on revenue (Nov. 11 2020)

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Synacor reports Q3 misses as pandemic pressure continues