Synacor was founded in 1998 and is headquartered in Buffalo, US

Senior Vice President, Software Engineering

Synacor has offices in Buffalo, Westford, Frisco, London and in 7 other locations

Buffalo, US (HQ)

300 40 La Riviere Dr

Toronto, CA

501 410 Adelaide St W

Minato, JP

3F Shiodome Building, 1-2-20 Kaigan, Minato-ku

Singapore, SG

9 Battery Road 11/F Straits Trading Building

San Francisco, US

1100 360 Post St

Pune, IN

Bund Garden Rd

Synacor's revenue was reported to be $26.5 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 26.5 m |

## Gross profit (Q1, 2017) | 14 m |

## Gross profit margin (Q1, 2017), % | 53% |

## Net income (Q1, 2017) | (6.7 m) |

## EBIT (Q1, 2017) | (6.1 m) |

## Market capitalization (22-Aug-2017) | 89.5 m |

## Cash (31-Mar-2017) | 11.3 m |

Synacor's current market capitalization is $89.5 m.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 111.8 m | 106.6 m | 110.2 m | 127.4 m |

## Revenue growth, % | (5%) | 3% | 16% | |

## Cost of goods sold | 59.6 m | 57.9 m | 54.4 m | 59.1 m |

## Gross profit | 52.2 m | 48.6 m | 55.8 m | 68.2 m |

## Gross profit Margin, % | 47% | 46% | 51% | 54% |

## Sales and marketing expense | 22.8 m | |||

## R&D expense | 25.6 m | |||

## General and administrative expense | 19.7 m | |||

## Operating expense total | 68.2 m | |||

## EBIT | (149 k) | (5.7 m) | (2.9 m) | (9.2 m) |

## EBIT margin, % | (0%) | (5%) | (3%) | (7%) |

## Interest expense | 193 k | 218 k | 245 k | 318 k |

## Pre tax profit | (940 k) | (7 m) | (3.2 m) | (9.5 m) |

## Income tax expense | (134 k) | 4.8 m | 239 k | 1.2 m |

## Net Income | (1.4 m) | (12.9 m) | (3.5 m) | (10.7 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 24.2 m | 26.2 m | 26.7 m | 24.7 m | 26.4 m | 30.3 m | 30.5 m | 31.7 m | 26.5 m |

## Cost of goods sold | 13.1 m | 14.4 m | 14.4 m | 12.5 m | 13.3 m | 13 m | 13.5 m | 14.6 m | 12.6 m |

## Gross profit | 11 m | 11.8 m | 12.3 m | 12.2 m | 13.1 m | 17.3 m | 17 m | 17.1 m | 14 m |

## Gross profit Margin, % | 46% | 45% | 46% | 49% | 50% | 57% | 56% | 54% | 53% |

## Sales and marketing expense | 2.5 m | 2.6 m | 3.6 m | 3.6 m | 4.3 m | 5.7 m | 5.6 m | 5.9 m | 6.7 m |

## R&D expense | 7.1 m | 7.6 m | 5.9 m | 6.6 m | 6.8 m | 7.3 m | |||

## General and administrative expense | 3.5 m | 4.1 m | 3.4 m | 3.4 m | 3.7 m | 5 m | 5.1 m | 4.9 m | 4 m |

## Operating expense total | 13.1 m | 14.3 m | 6.9 m | 7 m | 8 m | 16.5 m | 17.3 m | 17.6 m | 17.9 m |

## EBIT | (2.1 m) | (3.6 m) | (971 k) | (999 k) | (854 k) | (1.4 m) | (2.7 m) | (2.9 m) | (6.1 m) |

## EBIT margin, % | (9%) | (14%) | (4%) | (4%) | (3%) | (4%) | (9%) | (9%) | (23%) |

## Interest expense | 23 k | 75 k | 50 k | 59 k | 35 k | 68 k | 84 k | 75 k | 87 k |

## Pre tax profit | (2.2 m) | (3.6 m) | (1 m) | (1 m) | (921 k) | (1.4 m) | (2.5 m) | (3 m) | (6.2 m) |

## Income tax expense | (641 k) | (1.3 m) | 4 k | 16 k | 10 k | 144 k | 260 k | 379 k | 446 k |

## Net Income | (1.9 m) | (2.6 m) | (1.1 m) | (1.1 m) | (931 k) | (1.6 m) | (2.8 m) | (3.4 m) | (6.7 m) |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 36.4 m | 25.6 m | 15.7 m | 14.3 m |

## Inventories | 1.7 m | 2.3 m | 3.3 m | |

## Current Assets | 53 m | 48.4 m | 43.3 m | 46.6 m |

## PP&E | 14.4 m | |||

## Goodwill | 1.6 m | 1.6 m | 15.2 m | 15.9 m |

## Total Assets | 74.8 m | 66.2 m | 89 m | 93.4 m |

## Accounts Payable | 13.6 m | 12.5 m | 9 m | 18.8 m |

## Total Debt | 7.6 m | 7 m | ||

## Current Liabilities | 20.7 m | 22.1 m | 31.6 m | 43.6 m |

## Total Liabilities | 53.8 m | |||

## Common Stock | 306 k | |||

## Additional Paid-in Capital | 102.2 m | 106 m | 113.2 m | 117.7 m |

## Retained Earnings | (49.7 m) | (62.6 m) | (66.1 m) | (76.9 m) |

## Total Equity | 46.1 m | 39.6 m | ||

## Debt to Equity Ratio | 0.2 x | 0.2 x | ||

## Debt to Assets Ratio | 0.1 x | 0.1 x | ||

## Financial Leverage | 1.9 x | 2.4 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 25.7 m | 24.4 m | 26.8 m | 27.1 m | 15.6 m | 15.7 m | 16.3 m | 15 m | 11.3 m |

## Accounts Receivable | 19.3 m | ||||||||

## Current Assets | 46.4 m | 44.2 m | 48.3 m | 46.1 m | 38.6 m | 42.5 m | 40.5 m | 39.6 m | 33.6 m |

## PP&E | 14.5 m | 14.1 m | 14.7 m | 13.9 m | 14 m | 14.8 m | 14.9 m | ||

## Goodwill | 1.6 m | 1.6 m | 1.6 m | 1.6 m | 14.7 m | 15.9 m | 15.9 m | 15.9 m | 15.9 m |

## Total Assets | 69.5 m | 68.8 m | 65.5 m | 62.8 m | 85.5 m | 90.1 m | 87.7 m | 87.1 m | 80.5 m |

## Accounts Payable | 10.7 m | 10.8 m | 13.5 m | 10.4 m | 11.6 m | 12.1 m | 10.7 m | 11.9 m | 15 m |

## Current Liabilities | 18.6 m | 19.1 m | 21.7 m | 19.1 m | 28.1 m | 33.4 m | 34.5 m | 36.3 m | 36.1 m |

## Additional Paid-in Capital | 103.8 m | 105.1 m | 106.8 m | 107.7 m | 112.9 m | 114 m | 115.1 m | 116.2 m | 118.7 m |

## Retained Earnings | (53.6 m) | (56.2 m) | (63.7 m) | (64.8 m) | (65.7 m) | (67.7 m) | (70.4 m) | (73.8 m) | (83.5 m) |

## Total Equity | 42.1 m | 41.9 m | 46.2 m | 45.4 m | 43.4 m | 41.3 m | 34 m | ||

## Financial Leverage | 1.6 x | 1.5 x | 1.8 x | 2 x | 2 x | 2.1 x | 2.4 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | (1.4 m) | (12.9 m) | (3.5 m) | (10.7 m) |

## Depreciation and Amortization | 4.7 m | 5.1 m | 6.9 m | 9.2 m |

## Accounts Receivable | 1.1 m | (5.9 m) | (362 k) | (2.1 m) |

## Inventories | 189 k | (367 k) | (547 k) | |

## Accounts Payable | (527 k) | (359 k) | (3.6 m) | 8.7 m |

## Cash From Operating Activities | 5.2 m | (3.3 m) | 7.7 m | 8.2 m |

## Purchases of PP&E | (5.9 m) | (5 m) | (3.2 m) | (5.9 m) |

## Cash From Investing Activities | (8.9 m) | (4.8 m) | (20.5 m) | (8.4 m) |

## Short-term Borrowings | (2.1 m) | (2.3 m) | (1.4 m) | (1.7 m) |

## Cash From Financing Activities | (1.9 m) | (2.8 m) | 2.9 m | (1.2 m) |

## Interest Paid | 165 k | 219 k | 212 k | 318 k |

## Income Taxes Paid | 140 k | 112 k | 210 k | 737 k |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | (1.9 m) | (2.6 m) | (1.1 m) | (1.1 m) | (931 k) | (1.6 m) | (2.8 m) | (3.4 m) | (6.7 m) |

## Depreciation and Amortization | 1.1 m | 1.1 m | 1.5 m | 1.7 m | 1.6 m | 2.1 m | 2.3 m | 2.4 m | 2.2 m |

## Accounts Receivable | 19.3 m | ||||||||

## Accounts Payable | 10.7 m | 10.8 m | 13.5 m | 10.4 m | 11.6 m | 12.1 m | 10.7 m | 11.9 m | 15 m |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 62 k |

## Financial Leverage | 2.4 x |

Source: 19 public H-1B filings from Synacor