Okay, so welcome to the Sidoti Virtual MicroCap Conference. As I mentioned, next up we have Synchronoss. Its ticker SNCR, and I'm Anja Soderstrom, an equity analyst here at Sidoti. With me today I have the management team, Jeff Miller, the CEO, and Louis Ferraro, the CFO. This will be conducted as a presentation, which will be followed by Q&A, and you can submit your question by typing it into the Q&A function at the bottom of your screen, and we will address the questions following the presentation. With that, I'm happy to hand it over to you, Jeff. Welcome. Anja, thank you very much. We always enjoy the opportunity to participate in the Sidoti conference, and I'd like to thank all of those who have joined us today. We'll provide you a brief introduction to Synchronoss Technologies today, as Anja mentioned, and then allow time for questions. Of course, following the disclaimers, let's get into what we do. Synchronoss is a software solutions provider, a SaaS provider, and our solutions provide personal cloud software solutions to our customers, and our customers are global network operators or service providers, and they utilize our platforms to drive engagement with their subscribers and to drive new forms of revenue growth for their business. Now, we'll give you more context on that, but let me introduce you briefly to both Lou and myself. We represent the organization with depth of experience in the ecosystem in the telecom world. We have both worked extensively either inside telecom operators or serving them with products and services over the life of our career, and we're a microcosm of our broader leadership team, so we are steeped in deep understanding of what it takes to be successful in working in the telecom and global service provider arena. We therefore also have the technical depth to understand what it takes to successfully technologically integrate into a very complex and oftentimes antiquated ecosystem, to make sure that the best of our software solutions come through to their subscribers. Just to characterize the business's profile, we are a public company and have been so now for over 15 years. We, like our customer base, are global. We have roughly 750 employees around the globe, the largest concentration of which is in our software development center in Bangalore, India. We also have development centers in Dublin, Ireland, and where we're coming to you today from, our corporate headquarters in Bridgewater, New Jersey. We serve a little more than 10 large, top-tier global service providers with our software platform, and those companies, the logos of which are represented at the bottom of this page, represent over 400 million subscribers in their domains. Currently, we've had strong, scalable adoption of those who subscribe to our white label software platform. Now, over 10 million subscribers are utilizing our platform. But by virtue of the subscribers represented by our customers, as you can see, we have tremendous opportunity still to grow within our existing customer base, because we're only 2.5% penetrated in that 400 million dollar customer base. We've also scaled significantly on the data that we capture and protect on behalf of the subscribers, with over 200 petabytes of content managed by our platform. And the reason why we're relevant to global service providers is because we drive high-margin revenue for them as a value-added service that complements their voice, data, and in-home data plans to their subscribers. Now, just to capture a little bit of a snapshot of today's key company metrics. Most of these items are referenced, even Q2 quarterly earnings performance, which we just announced last week. We enjoyed subscriber performance and continued growth, which we have done now for 17 consecutive quarters, with the most recent quarterly performance representing 6% subscriber growth on a year-over-year basis, adopting our platform. That, by the way, was also matched with 6% year-over-year GAAP revenue growth. Because our customers are primarily participating in a subscription service to utilize our cloud platform, our financial performance is characterized by very high recurring revenue, over 90% for the second quarter. Because we have large customer relationships that span multiple years, over 75% of our revenue today that we're projecting for fiscal 2024 is captured in contracts with even more than four years or longer, still in their existence for those relationships. We have long-term customers, large customers, and nice contracts to back it up. Financially, our guidance this year is to drive $170 million-$175 million in top-line revenue, representing a 5%-8% growth rate over the prior year. Our EBITDA revenue or EBITDA numbers represent guidance of 43%-46%, which we recently increased in our most recent earnings call last week. Now, we are not only and have not only been servicing the cloud side of the software solution area historically. We have been a diversified software solutions provider, mostly serving the telecom and global service provider arena. But we've made a very conscious effort over the course of the last 3 years to narrow our focus to our cloud business, and as such, we shut down an IoT business. We divested a business on digital experiences, and most recently, last November, we sold our messaging and Network X businesses to the Lumen Group. That left us with a high-margin, subscription-oriented business with marquee customers focused on our cloud solution only. It allows us to invest in that cloud platform, which is providing returns of very high gross margin performance, greater than 75% on an adjusted gross margin basis, and as mentioned previously, we're backed by long-term contracts with our clients. Most recently, we signed a major extension to our contract with Verizon, our largest and longest-term customer, to extend our commercial relationship that's already got a decade under its belt, to extend that relationship to 2030. That is a unique opportunity and a demonstration of the value that we provide to that key customer. Immediately following this divestiture, we also took actions to reduce over $15 million of operating expense from our business on an annualized basis. We did so in December of last year, giving us an improved run rate of operating performance into 2024, and we're enjoying that based on our Q1 and Q2 results, and expect that to continue. We also, more recently, took a very major step to improve the capital structure of the business. To give you a little bit of a snapshot of that, I'm going to turn it to Lou to talk about that most recent event. Thanks, Jeff. So as mentioned, we took a very opportunistic step to improve our capital structure on June 28th. We completed a $75 million, four-year term loan with AS Birch Grove, and we used those proceeds to do the following: First, we retired all of the outstanding preferred obligation that we had of $61 million at a discount of 14%, saving the company $8.1 million. Next, we took $16.5 million of the proceeds and redeemed approximately $20 million of baby bonds at a discount of 16%, saving the company another $3.2 million. The annualized savings on the preferred stock dividends and interest, as depicted in the table below, is an annualized savings of about $2.2 million. Most importantly, it put us in a capital structure improvement, where we previously had $2.2 million outstanding, we now have one point-- $196 million outstanding, and we were able to reduce the preferred obligation interest rate from 14% to a term loan rate of SOFR plus 5.5 basis points to bring that down to 10.83%. So following our very strategic divestitures, the further focus on our cloud business, and the enhancements we've made to our capital structure, we enter 2024 as a cloud solutions provider characterized by high recurring revenue on a market, a go-to-market plan that scales globally and applies to customers in each of the major geographies around the world. And we will continue to focus on our ongoing subscriber growth while we continue to optimize the cost structure of the business and our capital structure. All of those, we've taken very big steps to. Now, we've talked about the operating performance. Let me introduce you to what we do. We provide an engaging user application that protects your digital content, your photos, your videos, your files, your music, in a manner that invites you to engage with that content and utilize it, and share it. Just to give you a little bit of a glimpse, we'll go through an animation here that introduces you, if you are an AT&T subscriber, to how you get to know the AT&T Personal Cloud. First, you get a free trial offer, and this is all part of a digital onboarding experience when you upgrade your device. If you take advantage of that, you immediately have the opportunity to personalize that experience, applying your own photo, applying your name, and then you get to select what content classes you would like backed up into your cloud. And then as soon as you get that process initiated, we are taking content off your device and putting it on the cloud, such that independent of the fact that you might lose that device, leave it in a taxi, drop it in a bucket somewhere, you will always have access to that digital content, independent of that device or any net future generation devices. Then we create a visually stimulating and interactive experience that allows you and invites you to organize that content and interact with it. And because people are capturing more and more content all the time, we organize it in very simple ways for you to digest it, or invite you to share it with other people. You can organize it again by function, so it could be your music file or your photos, or you can do it by the people that you interact with, and personalize it so that you have the ability to recall any photo that you might have from a member of your family or for a subject matter. You even have the ability, because of the metadata we capture on the photo, to search the content by subject matter. We allow you, therefore, to easily find the most important digital content when you want it, where you want it, and it is independent of the operating system of your device. You can do this and utilize these capabilities if you're an iOS user, an Android user, or if you work off of a Microsoft operating system, and you access it through our desktop application. We also make use of the latest, generative AI technology to allow you to take older photos that might be black and white, and colorize them, or apply filters to introduce the ability to create new forms of art from your old photos. All of this is intended to create more engagement with the platform, creating greater utility for the user and greater stickiness to the application. It also creates stickiness to our customers, the global service providers, because statistically, customers are less likely to churn from AT&T or Verizon if they have this application in addition to their voice and data plans. And then we'll proactively feed you the content to invite you to further engage with this, or to recall what you did on your vacation last summer. All of this helps make sure that that customer has a positive experience, and one that goes way beyond receiving a monthly bill from their service provider. Now, we believe that this is a market that's worth serving, because only about 34% of subscribers today have a monthly subscriptions to back up and protect their digital content. As a result, there is a role to be played by players beyond Apple and Google, and we believe the trusted relationship that exists with a global service provider and their subscribers, whether it's SoftBank, Verizon, or BT in the UK, is such that they are in a great position to augment their voice and data plans by providing protection services for their digital content. As more people capture more content, the importance of that digital content will well outstrip the investment that they make in an individual device, and last for a much longer period of time. It's also backed by statistics. In the U.S. market alone, there's greater than $10 billion of available addressable market for personal cloud service offerings. Synchronoss is in an early growth opportunity that has tremendous runway to expand for basic personal cloud backup and storage, with additional extension capabilities in areas that we're already participating, like backing up content in your home, or complementing your insurance plan for a device with an insurance plan for your digital content. We believe that the market is one that is very inviting of continued growth and expansion. Once we have a client on our platform, we have a multitude of opportunities to engage with their subscribers through digital channels, such as the onboarding process when you activate a new device, or their retail channels at point of sale, or at home when you activate a new router to bring your fixed wireless access up to speed in your home. We can also introduce you to the fact that we can back up all your digital content in the home. This gives us many avenues for long-term growth and expansion. Now, let me turn it to Lou to give you a little bit more context on the financials of the business. Thank you very much, Jeff. Let's look ahead at our performance in Q2. As Jeff mentioned, we experienced our 17th consecutive quarter of 6% or higher cloud subscriber growth. That was the main driver of our 6% revenue growth. Importantly, we did that with a very strong focus on profitability. Our GAAP gross margin expanded to 67.5%, and our adjusted gross margins improved to 77.5%. Adjusted EBITDA improved 115% to $13 million, and year- over- year, our net income increased by over $11 million. We have been on a strong trajectory at Synchronoss of improving our financial performance, and adjusted EBITDA is probably the best indicator to show that and demonstrate that. In 2023, we improved our adjusted EBITDA to $31 million, and this year we're on track at the midpoint of guidance to produce EBITDA of approximately $44.3 million or 26%. We are well on our way to improving the financial performance of the company, leading to additional profitability, and ultimately, sustained cash flow performance. Our guidance for this year, as we've mentioned, is GAAP revenue of $170 million-$175 million. That generates revenue growth of 5%-8%. Adjusted EBITDA, which we just increased after the Q2 results, to $43 billion-$46 billion, and producing net cash flow. All cash flow of all receipts, all payments for the company, of at least $10 million, and that includes the new debt amortization payments that we will be paying, starting in Q3, as part of our term loan with AS Birch Grove. That puts us well and firmly positioned to achieve the Rule of 30 in 2024, and well on our path for the Rule of 40 in the coming years. Jeff? You wanna share- Oh, I'm sorry. The long term? Yeah, from a long-term perspective, thank you. Ou r two- to three-year targets really look at our GAAP revenue of going from mid- to high single digits to double digits. Our recurring revenue staying very consistent at 90%+, our adjusted gross margins being 75% or higher, our adjusted EBITDA margin, which was just under 30% in Q2, getting to 30% or higher, and again, improving on free cash flow above that $10 million double-digit level as we move forward. So our focus as a company is now to continue the expansion and growth, and adoption of our platform with our existing clients. That's our highest priority, and that will help us deliver on our results for 2024, and set the stage for a successful 2025 and beyond. Additionally, we will selectively expand to new global customers, just as we did with SoftBank in November of last year, adding a massive new mobile customer in the Japanese market. We will also continue to invest in our platform. Cloud functionality and our personal expectations are always increasing, so we need to make sure that our feature roadmap is competitive and utilizes the best in machine learning, generative AI, and other technologies that will organize that information in a manner that's simple to go access. And then finally, just as we took steps in Q2, we will constantly look for ways to recapitalize our outstanding senior notes to continue to improve the operating performance and the financial strength of the company. With that, Anja, I will turn it back to you and see what questions we might have from the audience. Okay, great. Thank you. That was a good overview. For the audience, if you have a question, you can type it in the Q&A function at the bottom of your screen. You mentioned SoftBank. You won them over in the fall of last year. How is that revenue build expected? When is that going to become more meaningful for you? SoftBank actually made a meaningful contribution to our revenue stream even in 2023, and that was primarily through professional services, where we were developing, and refining, and testing, and preparing the platform for launch. So they generated nearly $5 million in revenue for our company last year. This year, while our professional services revenues continue, we're just beginning to see revenue come in a subscription basis, and we're glad to say that we're off to a strong start. Well, now we're measuring their subscriber base in hundreds of thousands, I should say. And that now will begin to have a meaningful impact on our subscription revenue, and we expect that will continue to expand in 2025 and beyond. I hope that answered your question. Yes. Thank you. And do you have any other large clients in the pipeline? We do. What does the pipeline look like? We do. The pipeline is quite healthy, and it is for the following reasons: As I'm sure all of you are aware, almost everyone has a cell phone, so growth in cell phone penetration has been tapped out. Additionally, fewer people are moving from one operator or one carrier to the next, so churn is down. And people are holding on to their devices longer, now on an average of greater than 3.5 years. So global service providers are looking for alternate forms of growth, and it is revenue, new revenue per user that is the method that they're going to get higher growth, by adding value-added services to their portfolio. So we're in conversations with customers in North America, Asia, and Western Europe at this point, some in Latin America as well, who are seeing this be a successful business model for our current customers, and therefore, that value proposition is resonating. We don't have any announcements to share today about any new customers, but we do feel confident that over the course of time, later this year or early next, we will be expanding our customer portfolio to augment the growth that we're experiencing in our current clients. Okay, so the guidance you have for this year is not pending any new clients signups, so- It is not, no. It is really dependent simply on continued growth and expansion of adoption of our current customer base. Okay, and another question here: What is the penetration rate at your most mature carrier overall? Approximately 10% of their subscriber base leveraging our platform, and that would be a tremendous penetration to accomplish across our customers. Because as you can see on that, 400 million subscriber addressable market, we've only tapped about 2.5% on average. Do you have a target for that, or? We'd be happy to double that and get that to 5%, as a good place to start. Another question here. Your 2Q adjusted EBITDA of $30 million was much better than expected. Were there any one-times that boosted the quarter, or will operating expenses pick up in the back half of the year? I'll let Lou address that. So, the good news is, no, there were no one-time benefits that bolstered that $13 million EBITDA performance in Q2. That is what enabled us to raise guidance for the year slightly. What I will say is, the cost-cutting measures that we had at the beginning of the year, we right-sized the cloud business effective the 1st of January, and our continued subscriber growth put us slightly ahead of where we wanted to be from an EBITDA perspective. We expect to see that trend continue. We do not expect any other additional large expenditures that would increase expenses in the back half of the year. Okay, and what is your average revenue per user, and does it grow with usage? There are tiered service offerings that the carrier offers to their subscribers, typically somewhere in the neighborhood of $5 a month for a 500 GB plan and $10 a month for a 2 TB plan. And we also have seen, more recently, unlimited offerings being extended by our customers to their subscribers, anywhere from $10-$20 per month. We do enjoy some different revenue streams, but on average, we make a little more than $1 per subscriber per month, as the subscribers are utilizing a portfolio of those different plans. Thank you. And, in terms of renewals, are there any renewals coming up soon that could be a risk that they won't renew and set you back in terms of your targets? We have a couple contracts renewal, renewals, but we don't expect that we have any surprises there whatsoever. We have had solid and consistent growth. That has been very, a great performance for AT&T and their personal cloud solution. And as such, we're generating more revenue for AT&T. The stickiness of that application to their user base is expanding, so we expect the renewal with AT&T to be concluded before the end of the year. We also have a customer in France, SFR, which has been a long-standing customer of ours. We also have high confidence in their renewal to be accomplished later this year. Okay, thank you. What are the alternatives you're thinking about around refinancing the outstanding bonds? So as we look forward, we're trying to put ourselves in a very positive position. We think as we continue to expand our EBITDA results, we will have a very strong opportunity to refinance the baby bonds. And hopefully, we'll do that long before they become current on July 1st of 2025. As we found when we refinanced the debt and the smaller portion of the baby bonds we did this year, we were introduced and had significant interest in that offering, and we expect to expand those relationships, and we'll be addressing that as we move into the beginning of 2025. Okay, thank you. And, who is your primary competitor, and how do you compete or win? Well, clearly, in the broader marketplace, Apple and Google provide cloud-based services that are built into their ecosystems, and consumers popularly adopt those solutions. Having said that, as I mentioned, only about 34% of subscribers today are participating in an active backup subscription for their digital content. So there is an untapped opportunity to capture that subscriber revenue, and the carriers are the best way for us to participate in that and allow them to gain a better portion of the revenue that they would otherwise be foregoing if those subscribers simply signed up for Apple or for Google. So it puts us in a position where them as an alternative provider for cloud is a natural extension of their voice and data services, and when we compete with others, it is usually the operator, the service provider, making a conscious decision that they wanna participate in that revenue stream and not just hand it over to Apple or Google. Okay, and, are there any switching costs to the carrier? Can you put any numbers around that, if possible? Yes. The level of technical billing, security integration that we perform to set up and establish a relationship with our client is extensive. And as such, to make a switch, for example, or to try to turn off a service, would create tremendous jeopardy for the client that we're working with because they have hundreds of thousands or millions of subscribers that are high-value, high-revenue producing subscribers, that they might be jeopardizing commercially to make any kind of a switch or to extract the data content from the current, you know, solution that we provide. Additionally, because of the technical integration and the security integration, it would take well over a year to make some kind of a modification to a commercial relationship to wind down or to transition a service. So the switching costs are quite extensive, and that's also why it took us 11 months in 2023 to complete our integration, testing, security operations to launch SoftBank last November, and that level of extensive integration is not something that is replaced easily. Okay, thank you. One final question here: How do the carriers promote your service, at the time of sale activation, or are you preloaded on devices? Yes to all of the above. We are on Android devices, preloaded with these applications, so that Verizon Cloud is preloaded on every Samsung device that comes out of the factory and is launched and sold by Verizon. Similarly, in the case of AT&T, we have not activated all of those channels yet with SoftBank, and therefore, they're more heavily taking a retail-first, point-of-sale approach to their sales of Anshin Data Box, which is their version of their cloud offering. We also utilize digital channels. This has been our most successful, so that as you power up a new device, you are invited. Like the illustration that I shared earlier shows, you're invited to participate in a free trial, and you will be walked through that digital experience just by powering on your new device, and therefore, it's got 100% presentment to Android clients. We also have the opportunity to communicate through other channels, digital SMS, other promotional activities that we can do inside of our application, and we also, as I mentioned, in the home, have the ability to introduce our services as you power on your new in-home router, giving us a multitude of channels to communicate with our customers and the prospects that are subscribers of our carriers, but not yet customers of our cloud service. Okay, thank you. We're actually out of time, so I want to thank you, Jeff and Louis, and Synchronoss for joining us today, and everyone from the audience who participated. I know you have a pretty full one-on-one schedule, but if anyone wants to catch up with you offline, you can reach out to the management team directly or us at Sidoti, and we'll put you in touch with the management team. I want to hand it over to you, Jeff, for some closing remarks before we close it down. Yes, I think it's... first of all, we greatly appreciate the opportunity, once again, to participate in the Sidoti conference. It always brings forth very relevant investors for us to have a conversation with. We appreciate everyone taking the time to listen to us today, and hopefully, you're seeing very clearly that the strategy that our company has followed has put us on a very strong course for improved financial performance, strong growth, and improved profitability and cash flow. And we look forward to continuing that, and we would be glad to have an opportunity to continue conversations with you. Have a great rest of your day. Thank you. Okay, thank you. Thank you, everyone.