January 21, 2017 11:17 PM 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 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

Suite 300

Buffalo, NY 14202

United States

Founded in 1998

387 Employees

Phone:

716-853-1362

Fax:

716-332-0081

Key Executives for Synacor, Inc.

Chief Executive Officer, President and Director
Age: 48
Total Annual Compensation: $404.2K
Chief Financial Officer, Principal Accounting Officer and Corporate Secretary
Age: 64
Total Annual Compensation: $317.8K
Compensation as of Fiscal Year 2015.

Synacor, Inc. Key Developments

Synacor, Inc. Presents at 19th Annual Needham Growth Conference, Jan-12-2017 01:30 PM

Synacor, Inc. Presents at 19th Annual Needham Growth Conference, Jan-12-2017 01:30 PM. Venue: Lotte New York Palace, 455 Madison Avenue at 50th Stree, New York, NY 10022, United States. Speakers: Himesh Bhise, Chief Executive Officer, President and Director, William J. Stuart, Chief Financial Officer, Principal Accounting Officer and Corporate Secretary.

Synacor, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2016; Revised Earnings Guidance for the Fourth Quarter and Full Year of 2016

Synacor, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended of September 30, 2016. For the quarter, the company reported revenue of $31,721,000 compared to $26,351,000 a year ago. Loss from operations was $2,873,000 compared to $854,000 a year ago. Loss before income taxes and equity interest was $2,986,000 compared to $921,000 a year ago. Net loss was $3,365,000 compared to $931,000 a year ago. Basic and diluted net loss per share was $0.11 compared to $0.03 a year ago. Adjusted EBITDA was $221,000 compared to $1,994,000 a year ago. For the nine months, the company reported revenue of $92,457,000 compared to $77,797,000 a year ago. Loss from operations was $6,883,000 compared to $2,824,000 a year ago. Loss before income taxes and equity interest was $6,904,000 compared to $2,999,000 a year ago. Net loss was $7,687,000 compared to $3,086,000 a year ago. Basic and diluted net loss per share was $0.26 compared to $0.11 a year ago. Net cash provided by operating activities was $6,711,000 compared to $6,178,000 a year ago. Purchases of property and equipment were $4,246,000 compared to $2,474,000 a year ago. Adjusted EBITDA was $2,003,000 compared to $4,722,000 year ago. The company revised earnings guidance for the fourth quarter and full year of 2016. For the quarter, the company’s revenue is projected to be in the range of $34.0 million to $38.0 million. The company expects to report a net loss of $2.5 million to $3.2 million and adjusted EBITDA of $0.0 million to $1.0 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 approximately $0.3 million. For the full year of 2016, the company’s revenue is projected to be in the range of $126.0 million to $130.0 million. The company expects to report a net loss in the range of $10.2 million to $10.9 million, versus the previous range of $10.5 million to $12.6 million. Adjusted EBITDA is now expected in the range of $2.0 million to $3.0 million, exceeding the previous range of $0.5 million to $2.0 million.

Synacor May Seek Acquisitions

Synacor, Inc. (NasdaqGM:SYNC) announced a shelf- registration of $40 million and will use the proceeds for working capital and general corporate purposes and for continued investments in development of our core technology and our product offerings. In addition, we may use a portion of such net proceeds for acquisitions of complementary businesses, technologies or other assets.

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