Synchronoss sees FY24 revenue $170M-$175M, consensus $170.62

Sees FY24 continuation of positive trends it experienced with its customers throughout 2023. Coupled with its recent addition of SoftBank, the expiry of certain payment obligations and removal of other general costs in Q1, and the superior revenue to cash conversion capabilities of Cloud as a standalone business, Synchronoss is expecting net cash flow to be at least $10M for 2024.The Company expects Cloud subscriber growth to be in the high-single-digit to low-double-digit range throughout 2024. For the fiscal year ending December 31, the Company expects GAAP revenue to range between $170.0 M and $175M, consistent with the previously communicated range of 5-8% growth.The Company expects adjusted EBITDA to range between $42M and $45M in 2024, consistent with the previously communicated margin range.