July 22, 2017 7:35 AM ET

Internet Software and Services

Company Overview of Synacor, Inc.

Company Overview

Synacor, Inc. operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation. The company, through its managed portals and advertising solutions, enables 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 o...

40 La Riviere Drive

Suite 300

Buffalo, NY 14202

United States

Founded in 1998

449 Employees

Phone:

716-853-1362

Fax:

716-332-0081

Key Executives for Synacor, Inc.

Chief Executive Officer, President and Director
Age: 49
Total Annual Compensation: $475.1K
Chief Financial Officer and Corporate Secretary
Age: 65
Total Annual Compensation: $352.3K
Compensation as of Fiscal Year 2016.

Synacor, Inc. Key Developments

Synacor, Inc. Presents at 7th Annual LD Micro Invitational, Jun-06-2017 05:00 PM

Synacor, Inc. Presents at 7th Annual LD Micro Invitational, Jun-06-2017 05:00 PM. Venue: Luxe Sunset Boulevard Hotel, Los Angeles, California, United States. Speakers: Himesh Bhise, Chief Executive Officer, President and Director, William J. Stuart, Chief Financial Officer and Corporate Secretary.

Synacor, Inc. Appoints Lisa Donohue as Director Effective May 18, 2017

Effective May 18, 2017, the board of directors of Synacor, Inc. appointed Lisa Donohue as a director of the Company. This appointment fills a vacancy on the Company's board of directors. Ms. Donohue will be a Class II director and serve in this role until the 2019 annual meeting of stockholders. Ms. Donohue was also appointed to the audit committee. Ms. Donohue is president of Starcom Global Brand, having previously served as chief executive officer of Starcom USA. Ms. Donohue is also a member of the Publicis Media global leadership team.

Synacor Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Second Quarter of 2017 and Full Year 2017

Synacor Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company's revenue was $26,540,000 against $30,260,000 a year ago, primarily due to the anticipated year-over-year decline in desktop search revenue. Loss from operations was $6,129,000 against $1,355,000 a year ago. Loss before income taxes was $6,210,000 against $1,421,000 a year ago. Net loss was $6,656,000 or $0.21 per basic and diluted share against $1,565,000 or $0.05 per basic and diluted share a year ago. Net cash used in operating activities was $967,000 against net cash generated from operating activities of $3,848,000 a year ago. Purchases of property and equipment were $1,515,000 against $937,000 a year ago. Adjusted LBITDA was $3,298,000 against adjusted EBITDA of $1,480,000 a year ago. For the second quarter of 2017, the company's revenue is projected to be in the range of $28.0 million to $30.0 million. Net loss to be from $3.2 million to $5.0 million and adjusted LBITDA to be from $1.5 million to $0.0 million, which excludes stock-based compensation expense of $0.7 million to $0.8 million, depreciation and amortization expense of $2.2 million to $2.4 million and tax, interest expense and other income and expense of approximately $0.3 million. For the fiscal year 2017, the company's revenue is projected to be in the range of $160.0 million to $170.0 million. The company expects to report a net loss in the range of $2.8 million to $8.0 million and adjusted EBITDA in the range of $6.0 million to $10.0 million, which excludes stock-based compensation expense of $2.8 million to $3.2 million, depreciation and amortization expense of $8.8 million to $9.6 million, and tax, interest expense and other income and expense of $1.2 million.

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