Procore signs multi-year strategic collaboration agreement with AWS
Patrick Joseph Doran, the Executive Vice President and Chief Technology Officer of Synchronoss Technologies Inc. (NASDAQ:SNCR), a company with impressive gross profit margins of 77.5% and strong financial health according to InvestingPro metrics, recently sold a portion of his holdings in the company. According to a recent SEC filing, Doran sold 1,751 shares of common stock on April 28, 2025, at a price of $10.68 per share. This transaction, executed under an approved Rule 10b5-1 trading plan, was carried out to cover tax obligations associated with the vesting of restricted stock. The sale comes at a time when the stock has shown significant volatility, with a 55% return over the past year despite recent market fluctuations.
Following this sale, Doran retains ownership of 168,436 shares in the company. The transaction is valued at approximately $18,700. While this insider transaction provides valuable insight, InvestingPro analysis reveals 12 additional key investment factors for SNCR, including detailed valuation metrics and growth projections available in the comprehensive Pro Research Report.
In other recent news, Synchronoss Technologies Inc. reported a 6.8% increase in revenue for the fourth quarter of 2024, reaching $44.2 million. The company also recorded a full-year revenue of $173.6 million, marking a 5.7% increase from the previous year. Synchronoss has completed its transformation into a high-margin cloud solutions provider, with over 90% of its 2025 revenue secured through multi-year contracts. The company has projected revenue between $170 million and $180 million for 2025, with expectations for continued subscriber growth and new customer acquisitions. Analysts have noted the company’s strategic shift and its impact on financial performance. Synchronoss’s focus on recurring revenue streams has contributed to its stable growth, as evidenced by a 31.4% adjusted EBITDA margin in the fourth quarter. CEO Jeff Miller highlighted the use of AI to enhance product offerings and operational efficiency, which the company believes will drive future growth. Additionally, the company signed significant multi-year contract extensions with AT&T and SFR, further solidifying its revenue base for the upcoming years.
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