Synchronoss technologies CEO sells shares worth $111,765

Published 09/06/2025, 12:44
Synchronoss technologies CEO sells shares worth $111,765

Jeffrey George Miller, the Chief Executive Officer of Synchronoss Technologies Inc. (NASDAQ:SNCR), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The company, currently valued at $76.23 million, has maintained impressive gross profit margins of 78.29% despite challenging market conditions, according to InvestingPro data. The transactions, which took place on June 5 and June 6, involved the sale of a total of 15,917 shares.

The sales were executed at prices ranging from $6.987 to $7.057 per share, amounting to a total value of approximately $111,765. Following these transactions, Miller retains ownership of 429,647 shares of Synchronoss Technologies.

The sales were conducted as part of an approved Rule 10b5-1 trading plan, which was established to cover tax obligations associated with the vesting of restricted stock. While the stock has shown significant price volatility, InvestingPro analysis indicates the company maintains strong liquidity with current assets exceeding short-term obligations.

In other recent news, Synchronoss Technologies reported its Q1 2025 earnings, revealing a slight decline in revenue to $42.2 million from $43 million the previous year. Despite the decrease, the company maintained a high percentage of recurring revenue at 93.1% and achieved significant operational efficiencies, reducing expenses by 11.5% year-over-year. Synchronoss also reported a net loss of $3.8 million, or $0.37 per share, but adjusted EBITDA increased to $12.7 million, representing a 30.2% margin. The company reaffirmed its revenue guidance for 2025, projecting between $170 million and $180 million, with an expected adjusted gross margin of 78-80%.

Additionally, Synchronoss has been included in the Russell 2000 Index, a move that is seen as a positive signal for its strategic progress and financial health. This inclusion is expected to enhance the company’s visibility within the investment community. Synchronoss also refinanced its debt, extending maturity to 2029, which strengthens its capital structure and provides financial flexibility. The company continues to focus on its strategic transformation into a leading cloud solutions provider, emphasizing partnerships with major carriers like AT&T and Verizon (NYSE:VZ). These developments reflect Synchronoss’s efforts to navigate a challenging market environment and drive future growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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