Internet Software and Services
Company Overview of Synacor, Inc.
Synacor, Inc. operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation. The company, through its managed portals and advertising solutions, enable its customers to earn revenue by monetizing media among their consumers. It also offers recurring and fee-based revenue solutions, including End-to-End Advanced Video Services that enable customers to provide their consumers with TV everywhere and multiscreen over the top service...
40 La Riviere Drive
Buffalo, NY 14202
Founded in 1998
Key Executives for Synacor, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $404.2K
Chief Financial Officer, Principal Accounting Officer and Corporate Secretary
Total Annual Compensation: $317.8K
Compensation as of Fiscal Year 2015.
Synacor, Inc. Key Developments
Synacor, Inc. Appoints Timothy Schermerhorn as Senior Vice President of Service Provider Sales and Marketing
Sep 26 16
Synacor, Inc. announced the appointment of Timothy Schermerhorn as Senior Vice President of Service Provider Sales and Marketing. He will be responsible for all aspects of Synacor’s revenue efforts in the service provider market. His addition strengthens Synacor’s sales leadership as the company looks to extend its broad product platform which is at the center of today’s most powerful digital trends including advertising, multiplatform video and messaging into new customers, verticals and geographies. Throughout his career, Schermerhorn has driven revenue growth, technology business development, and strategic partner management in pay TV, high-speed data, access technology, software and professional services. He joins from Ericsson, where he was Vice President and General Manager, Broadband and Media Accounts. Prior to that, he held leadership positions at Intel, ADB, and Motorola. He will report to CEO Himesh Bhise.
Synacor, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Third Quarter and Full Year of 2016
Aug 3 16
Synacor, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the second quarter of 2016, total revenue was $30.5 million, an increase of 23% compared with the second quarter of 2015. Recurring and fee-based revenue increased 126% compared with the second quarter of 2015. Net loss was $2.8 million, compared with net loss of $1.1 million in the second quarter of 2015, reflecting the investment to support the AT&T portal business. Earnings per share, or EPS, was a loss of $0.09 compared with a loss of $0.04 in the second quarter of 2015. Adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA), which excludes stock-based compensation expense, was $0.3 million compared with $1.5 million, for the second quarter of 2015. The second quarter 2016 adjusted EBITDA reflects the $1.5 million investment (operating expense) to support the recently won AT&T portal business. Cash generated by operating activities was $1.8 million for the second quarter of 2016, despite the investment in the AT&T portal business. Loss from operations was $2.65 million compared to $0.999 million a year ago. Loss before income taxes and equity interest was $2.49 million compared to $1.04 million a year ago. Purchases of property and equipment were $1.6 million compared to $2.8 million a year ago.
For the six months, the company’s revenue was $60.7 million compared to $51.5 million a year ago. Loss from operations was $4.01 million compared to $1.97 million a year ago. Loss before income taxes and equity interest was $3.9 million compared to $2.078 million a year ago. Net loss was $4.32 million, compared to net loss of $2.15 million a year ago. Earnings per share, or EPS, were a loss of $0.14, as compared to a loss of $0.08 a year ago. Net cash provided by operating activities was $5.66 million compared to $4.129 million a year ago. Purchases of property and equipment were $2.004 million compared to $1.561 million a year ago. Adjusted EBITDA was $1,782,000 compared to $2,727,000 a year ago.
Revenue for the third quarter of 2016 is projected to be in the range of $29.0 million to $31.0 million. The company expects to report a net loss of $5.2 million to $6.5 million and adjusted LBITDA of $2.0 million to $3.0 million, which excludes stock-based compensation expense of $0.7 million to $0.8 million, depreciation and amortization of $2.2 million to $2.4 million and tax, interest expense and other income and expense of $0.3 million.
Revenue for the full year of 2016 is projected to be in the range of $130.0 million to $135.0 million. The company expects to report a net loss in the range of $10.5 million to $12.6 million and adjusted EBITDA in the range of $0.5 million to $2.0 million, which excludes stock-based compensation expense of $2.8 million to $3.0 million, depreciation and amortization of $8.8 million to $9.2 million, and tax, interest expense and other income and expense of $0.9 million. Net Income and adjusted EBITDA guidance for the third quarter and fiscal year 2016 reflect a portion of the $10 million investment planned between the second quarter of 2016 through the first quarter of 2017 to deploy portal services for AT&T.
Synacor, Inc. to Report Q2, 2016 Results on Aug 03, 2016
Jul 25 16
Synacor, Inc. announced that they will report Q2, 2016 results at 5:00 PM, US Eastern Standard Time on Aug 03, 2016
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