Synchronoss Technologies, Inc. (NASDAQ:SNCR) Q3 2019 Earnings Conference Call - Final Transcript

Nov 04, 2019 • 05:00 pm ET


Synchronoss Technologies, Inc. (NASDAQ:SNCR) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Synchronoss Technologies Incorporated Third Quarter 2019 Earnings Conference Call. [Operator Instructions] A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce our host, Joe Crivelli, Vice President of Investor Relations. Thank you sir, you may begin.

Joe Crivelli

Thanks, Diego. Good afternoon, everyone. Welcome to the Synchronoss Technologies third quarter 2019 earnings call. Joining me on the call is Glenn Lurie, President and CEO of Synchronoss; and David Clark, our Chief Financial Officer. During the call, we'll make references to our prospects and expectations for 2019 and beyond and other statements relating to our business that may be considered forward-looking statements within the meaning of the Federal Securities Laws, including statements about our future trends, future financial results and financial position, business prospects and market opportunities. Generally forward-looking statements are identified by words such as expects, believes, anticipates, intends and other indications of future expectations.

These forward-looking statements are based on the business environment as we currently see it and include certain risks and uncertainties. Please refer to our SEC filings for more information on specific risk factors that may cause actual results to differ. Any forward-looking statements on this call are based on assumptions as of today and we undertake no obligation to update these statements as a result of new information or future events.

In addition to US GAAP reporting, we report certain financial measures that do not conform to GAAP. We believe these non-GAAP measures enhance the understanding of our performance, reconciliation of the GAAP measures to their non-GAAP measures in addition to description of the non-GAAP measures can be found in today's earnings release.

I'll now turn the call over to Glenn Lurie.

Glenn Lurie

Thanks, Joe and thanks everybody for joining us today. Before I comment on earnings, I want to take a moment to comment on the multiple exciting and transformative new deal that Synchronoss has announced. Today, we are very excited to announce a new major US-based Tier 1 carrier customer for our white label cloud offering. While as it is typical in the industry, they have requested they remain quiet around their identity until they launch the service in early 2020.

Over time, we expect this customer to generate material revenue for Synchronoss. This is obviously a tremendous growth catalyst for Synchronoss that we believe puts us on the path to return to sustained double-digit revenue growth in 2020 and beyond. In addition, we are very excited about the deal we announced with British American Tobacco for our Digital Experience Platform last week. I'll talk about this deal more in a moment, but we believe with the completion of these two new modules and analytics based decision engine and catalog module, we now have the most advanced customer experience software available for retailers today. As British American Tobacco was -- so our first DXP customer outside our traditional TMT ecosystem. We believe the successful pilot will