This time I'm a senior equity analyst here at Sidoti, and next up we have Synchronoss Technologies. As I mentioned, we have Jeff Miller, the CEO, with us today. We also have Lou Ferraro. He's the CFO. This is going to be conducted as a presentation by management, followed by Q&A. If you would like to submit a question, you can do so in the Q&A function at the bottom of your screen, and we'll address them after the presentation. With that, I'm happy to hand it over to you, Jeff. Terrific. Thank you, Anja. Thank you to the Sidoti team for once again assembling a very productive conference for us. Welcome, and thank you very much for joining us. My name is Jeff Miller. I'll introduce you to Lou Ferraro here in just a minute, but we'll have an opportunity to introduce you to Synchronoss. We are a software solutions provider that serves the community of large global service providers with a cloud solution that they use as a value-added reseller or as a value-added service to drive revenue and customer retention. Lou and I, as leaders of the team, have worked in, worked with, or represented some of the largest global service providers in the marketplace. We're a microcosm of the broader team that we have here at Synchronoss. All of us have understood the ecosystems in which our customers represent, and then how we serve them reflects the fact that we have an understanding of what drives them, what motivates them, and what's important for their business. That gets us into an introduction of what Synchronoss is. We are a personal cloud solution to allow consumers to back up their digital content, their photos, their videos, their files in a repository that is safe and secure. For our clients, the global service providers, we allow them, on a white label basis, to apply their brand name. In the marketplace, consumers know us as Verizon Cloud or AT&T Cloud because we serve two of the largest operators in the United States. In Japan, for SoftBank, we're known as Anshin Databox, which means peace of mind in Japanese. In all of those circumstances, we allow our customers to drive new subscription revenue and create an element of better customer retention to reduce their customer churn. We will introduce you more to it along the way. Synchronoss is a business that has been in operation for 25 years. Over the last four years, as Lou and I have taken over leadership of the business, we have focused on our cloud solution. During the history of Synchronoss, we have offered a wide array of software solutions, mostly targeted at the service provider community. We have found over that period that in the last few years, our cloud solution was the best with opportunities for growth. It had the best operating financial structure. We prioritized other businesses to be optimized and sold, leaving us in 2024 with a focus as a pure-play cloud business. Today, our cloud solution adds 50 million new photos to the libraries of our subscribers every day. We serve over 11 million subscribers globally across the brand names that you see at the bottom of this page. Those companies represent in total over 400 million subscribers. As you can do the quick math, we're just over 2.5% penetrated on the customers that we currently serve, leaving us a great foundation to continue future growth by more adoption of the cloud solution that's provided to their subscriber base. The reason we're relevant and important to our clients is because we've generated over $3 billion of top-line revenue for them over the last number of years. That $3 billion is also at a healthy margin. As a result, this is a business that they want to promote. In the case of Verizon alone, in 2024, they generated over $500,000,000 in revenue from Verizon Cloud. Our team that serves them is globally deployed, just as our customer base is globally deployed, with about 750 employees in the company in the United States here at our Bridgewater headquarters, but also with our large development center in Bangalore, India, our development center in Dublin, Ireland, and our presence in Japan serving our SoftBank client. To bring us close to the metrics of our business for 2025, we've just recently reported Q1 earnings, which met the revenue consensus, beat the EBITDA consensus, and continued to demonstrate 3%+ subscriber growth on the 11 million subscribers that we have. Our business also is quite predictable in its revenue streams. In Q1, we delivered 93% recurring revenue, and that's because of the subscription model in which we participate. We also have great visibility to the long-term nature of our relationships with our clients, with over 90% of our revenues entering 2025 under long-term contracts, three years or more. Our guidance for the year is $170 million to $180 million in revenue and EBITDA of $52 million to $56 million, so therefore EBITDA margins now at 30%. As I mentioned, we followed a strategy over the last number of years to refine the focus of the business all on our cloud business. As a result, we are a pure-play cloud solutions provider today, which delivered revenue growth of 5.9% last year and improvements such that in Q4 we had EBITDA margins of 30%. We repeated those types of metrics in Q1. As I mentioned to you earlier, we've got very nice contracts in place with Verizon to 2030, with AT&T. In December, they extended their contract for another three years. SoftBank is under a five-year agreement, and SFR also in Q4 of last year, our French customer, extended their relationship with us for three more years. We also are benefiting from the tailwinds of the market dynamics of personal cloud growth. People are capturing more photos and videos all the time, and they want to share those. That creation of new ingest needs to be protected someplace, and the best place for it is in the cloud. As such, we participate in a broader market that's growing at nearly 20% a year. We're simply trying to capture a fair share of that under the brand names of our customers. We're also seeing adoption of multiple clouds by over 50% of the subscriber base out there, people using them maybe for dual purposes or candidly to have a backup solution for their backup. Yet still, 27% of subscribers in the market do not back up their digital content, not through a subscription service today. We believe there is ample opportunity for continued growth and adoption of our solution as this market continues to expand and grow. I mentioned some of our clients, the most recent of which we launched was SoftBank. That was in November of 2023. We had a full year of operation in 2024. As we shared with the market, we have over hundreds of thousands of subscribers that have now adopted that in its first year of implementation. That still leaves us with less than 1% or just about 1% penetration of their 50+ million subscribers. We believe this is going to be a vector for growth under the Anshin Databox brand name for many years to come. We have not even started to tap their messaging base of subscribers under their line brand, where they have 90 million subscribers. There is a lot of potential for our growth with our U.S.-based customers like Verizon and AT&T, but certainly in Japan, we have a similar opportunity. Now, again, personal cloud may mean a lot of things to a lot of people, but in our case, we are capturing your digital memories, your most precious digital content. We create an inviting environment interface for you to relive those memories and to want to share those. We put them in the form of albums so that we organize them on your behalf. Yes, there are other players in the personal cloud space. Let me just describe why Synchronoss stands apart. First, we are agnostic to the operating system that you might use on your device. Apple customers, Android customers, all are welcome into the Synchronoss personal cloud, allowing our customers to give choice to their consumers to select the device that they want to use at any given point in time. Or in the case of a family that might have a combination of Apple or Android devices, allow them to have a single cloud repository that can handle both of those operating systems without difference. We also extend ourselves to tablets, desktop computers, or any end device. Therefore, if you're working in a Microsoft operating system, it's just as easy for you to back up and access your content from any place. We also provide a digital protection for your digital content that we think differentiates us in the marketplace. There are many consumers who are suspect or question what happens with the advertising or the other monetization of their digital relationship with firms like Apple and Google. Their relationship with their carrier is one that's often and long-time trusted. We leverage that relationship as a means by which to protect their digital content. We do not in any manner monetize that digital content in any way beyond the subscription service itself. We even go beyond that for digital protection, where certain elements of your library that you get to select can be put behind a biometric or password-protected private folder, allowing you to treat certain documents that you might want to have proprietary and not even shared with others in the family, put in their own separate repository. We also organize the data utilizing our technology and AI to better put you in a position that you can find the photo that you want when you want it. We will present that content back to you in a manner that's inviting and engaging. It might be a memory of your pictures over the years of the same person or the vacation that you just enjoyed in the last trip you took to Europe. We also made an enhanced announcement today, earlier today, on the latest recent release of our solution that even more personalizes the content and the memories that we present back to you, inviting you to engage in the application and to share that content with others. We've also introduced the opportunity for you to look at it from a view of the map on the world. If you do not remember when you took a photo, you will remember where you took it, and you can go search on your photo library in that manner as well. I would like to give you a quick glimpse into what the experience digitally is for our subscribers. What you will see here is an animation of what an AT&T subscriber would get as they power up the latest Samsung device. They are immediately greeted with an invitation to take advantage of a free trial offer of the AT&T Cloud. If they take advantage of that, which many do, you can quickly personalize it with your name and a photo and then select the digital content classes that you would like to back up in your cloud. Immediately, we will start taking the content that's on the device and backing it up in our cloud solution so that even if you lose that device tomorrow, that digital content will always be there. You can access it from any device, from any location. We organize the data and present it back to you in the form of albums or curated slices of your content library that we think, and machine learning would tell us, you're most likely to want to engage with. That allows you to get what you want when you want and in a more visually enticing manner than just a list of all of your photos. We also organize the data in a manner that allows you to search on it very simply. If you want, therefore, to capture all of the items of the pictures of your friend or wife, you can do so by name, or you can do so by topic. We utilize the metadata, the information that's on the photo itself, to allow you to search the device or search that content in any manner that you like. If it's not by name, it can be a subject where you can organize it by those subject matters or even search such that all the photos I want to capture which have turtles in them, I can go quickly search those and pick the one that I want, or by calendar, or as I mentioned, by map. All of these are just ways for us to allow you to engage and interact with the application, which makes this a stickier experience for their relationship with their service provider. Of course, everyone's talking about AI and machine learning. We utilize it and actually put machine learning and AI and generative AI in the hands of our consumers so that you can take a photo you might have taken years ago and apply a filter to make an anime version of that, which our Japanese customers have found very appealing. You can also take 3D versions or sketch versions or versions that are not unlike a Van Gogh picture and apply that kind of filter to make your old more new and more inviting for you to share it with other third parties. All of this is to get more engagement in the platform and to create a sticky experience. Lastly, I want to mention the fact that we have a multitude of ways for our app to be discovered through digital channels, like I just showed you with the AT&T example, or through the retail stores and the retail sales representatives of our carrier customers, or through a wide variety of other avenues. Inside your My Account app, for example, My Verizon or My AT&T, we've most recently embedded our cloud solution into the My Verizon app, making one more avenue for a customer to discover the app and then engage and launch their own subscription relationship. All of these are avenues that allow us to continue to drive continued expansion of our existing customers and create a business model that is profitable for our clients and one that we feel confident will replicate with other clients that we do not yet have under contract to expand the reach of our platform in 2025 and beyond. Now, to give you a little bit of sense of what our financial operations and performance is, I am going to turn it over to Lou Ferraro. Lou? Thank you very much, Jeff. Good day, everyone. Let's start with three macro-level performance items from our Q1 numbers. Jeff highlighted these, but let's reiterate them. Number one, we met our analyst consensus for the quarter of $42.2 million in revenue. We exceeded analyst consensus by our EBITDA performance of $12.7 million, and our free cash flow performance improved when compared to the first quarter of 2024. Now, a little bit more on the details. Our cloud subscriber growth of 3.3% and our 93% recurring revenue provided substantial growth within our subscriber revenue category. That was slightly offset by the loss of the European customer that we lost in the fourth quarter of 2024 that we announced previously during our year-end earnings call. From a margin perspective, our gross margin on a GAAP basis was over 70%, and on an adjusted basis, was 79%. Finally, our EBITDA margin for the quarter was at 30%, and that is something that we're very proud to see us do for the second consecutive quarter. I will note that our net loss for the quarter was solely the result of the reevaluation of our intercompany payables and receivables, where we reevaluate those as required on a quarterly basis versus the strength of the dollar between our legal entity businesses in the US, Ireland, and in India. Now, our EBITDA performance has really been driven as a cloud-only business by our revenue growth and very vigilant cost management. When we became a pure-play cloud company in the fourth quarter of 2023, we took a number of actions to make sure that our cost structure was indicative of a SaaS-based cloud performance company. Those included right-sizing the organization, making sure that spans of control were increased, layers of management were decreased, and overall, a very strong vigilance on vendor cost management. That also was complementary to the movement we made years ago to get out of the hosting management of our own data center and take advantage of economies of scale offered by Amazon, Microsoft, and some of our own customers' data centers where they house their own experiences. Moving to guidance. As Jeff mentioned, our revenue guide is $170 million to $180 million. Our adjusted EBITDA guide is $52 million to $56 million, and our GAAP free cash flow guide is $11 million to $16 million. When you look at our overall financial performance, you'll see that we are, again, experiencing very positive results that we expect for 2025, and that put us well on path to hit the rule of 30 and rule of 40 outcomes in the coming years. One other thing to note, we are still waiting the receipt of our IRS tax refund. It is now approved by the Joint Committee, and we have recently been notified that that information is now current to us and that our payment will be received in 2025, and we have very strong confidence that that is what's going to happen. Now, let's take a look at our history here and our trajectory into the future. When you look at where we performed in 2024, you can see that our 2025 expectations are very realistic. Trying to grow to the $180 million revenue level, recurring revenue, which we feel very confident about with the strong nucleus of our Verizon, AT&T, and SoftBank contracts, margin profiles from adjusted gross margin and EBITDA, and a free cash flow of $11 million to $16 million. Achieving those results puts us very well on our path to our two- to three-year goals, as indicated on the slide in front of you. I'll turn it over to Jeff to recap this session. As we've mentioned, we've been on a journey over the last few years to place a focus on our cloud business. The operating performance for 2024, continued in Q1 of 2025, is really what we've been striving to achieve for the last number of years. We also recapitalized our financial structure very recently, and that puts us in a position where we've got line of sight for our capital support through the year 2029. Our focus now is to continue the ongoing growth of subscriber adoption with our existing customers and then bring more clients onto the platform as a means to further accelerate that growth in a business that's already delivering strong gross margins, strong EBITDA margins, and positive cash flow. With that, Anja, I'm going to ask you to come back, and we'll entertain any questions that we have along the way. Okay, great. Thank you. That was a great overview. Again, for the audience, if you would like to participate in the Q&A, you can submit your question in the Q&A function at the bottom of your screen. Let me start with a couple of questions that come in during the presentation. How long will it take to go back to double-digit growth? Please explain in detail. Yeah, what we believe will be necessary to achieve double-digit growth will be the addition of one, potentially two new clients to add on top of the continued growth that we have with our existing customer base in further penetration of their base. The timing on that is probably a year and a half to two years away, but we believe we've got the opportunity to do so based on the number of clients that we're speaking with today actively that have given us enough confidence to say that we expect to sign at least one new customer in 2025. Typically, the lifecycle of those engagements takes time before they launch a new subscriber offer into their customer marketplace, but that could be towards the end of 2026 or into 2027. Okay. Does T-Mobile have a service like this? If so, is it an in-house solution or a competing third-party service? T-Mobile today is actually, we think, missing a significant opportunity to take advantage of the opportunity of driving revenue and customer retention that both AT&T and Verizon enjoy. They have chosen a path to leverage a relationship with Google to offer a Google One by T-Mobile. However, in that situation, there is no stickiness. There is no reason for a consumer for a Google One that is the same Google One available at Verizon and AT&T to provide retention value for T-Mobile. We are in ongoing conversations with T-Mobile to offer ways for us to get them interested in a T-Mobile-based cloud because they certainly do represent the biggest opportunity in the United States that we do not currently have under our wing. Okay. Please let us know if there are any plans to do share buybacks to support the lagging share price. Also, if you could provide more information about the IRS refund other than what you did during the presentation. Sure. I will let Lou actually address both of those. In the short term, there are no plans for any share buybacks in the short term. As it relates to the IRS refund, we filed under the legislation known as the CARES Act prior to 2024 in excess of $42.3 million of refunds. We quickly received $14.3 million of refunds. The IRS then decided that if you had received more than $5 million in refunds, we would go in a way or any company would into an audit-first, pay-second status. In order to be paid, you have to go through a very vigorous process with the IRS that results in a full audit of the years in question. Then you go through a phase called a Tax C omputation Specialist where they apply the tax code and make sure that your refund claims are in conjunction with the code as it applies. Once those two phases are done, it goes to an executive review in the IRS referred to as the Joint Committee. We were advised in writing by the IRS on March 28th that we had completed all three phases of that and that our refund claim tied to their numbers to the dollar, and we were being sent to the payment process in Ogden, Utah for receipt of refund. We feel very strongly that we will receive this money in 2025. On a serious note, we literally check our mail incoming into the company on a daily basis. Okay. I have a question, sir, about signing on other tier one customers and sort of sales motion there and why it's taking long to announce a new contract. Maybe just talk about the sales motion there. Also, you mentioned you're talking to several large customers, right? We are. We have, as I mentioned, geographically, very sincere client interest in the United States. We have interest as well in the Asia-Pacific market, likewise in Western Europe and even potentially in Africa. We have a multitude of dialogues going on. The situation here is one where it is a key matter of prioritization on behalf of the prospects that we have in our sales funnel, if you will. The prioritization is whether or not they want to enter themselves with their own brand name into this business model where they put their brand name on a cloud service as a new value-added service. We have compelling references with Verizon, AT&T, and SoftBank, which have helped these conversations progress well. At the same point in time, you have to get into their IT billing cycles and all that to integrate and successfully launch them. That's the reason why it takes time, and it takes quite a bit of time for them to contemplate the strategy to employ this. It took SoftBank actually well over a year to assess their alternatives and decided to jump in with Anshin Databox. Similarly, it took AT&T over a year before they launched in 2020. The nature of these contemplations is not unusual, and all of these communications companies are juggling a wide variety of priorities. As such, you're just trying to work to get that in. We have enough irons in the fire, enough opportunities in the funnel that we feel good about the fact that we will land at least one new client between now and the end of this year and then bring them on to add more subscribers to the base of penetration that we have with our existing customers. What is your opportunity to grow and avenues to grow with existing customers? Quite terrific. As I mentioned, we are very lightly penetrated at SoftBank. The most recent client to launch, we have only penetrated about 1% of their subscriber base during the first year of operation. That gives us a tremendous base to continue to market to and communicate with. Plus, in the case of SoftBank, we have not yet integrated our software as a preload as we have already done successfully with AT&T and Verizon. We're working with them to curate that same kind of digital experience that I introduced to you on AT&T in the case of SoftBank. There are a lot of exercises or muscles we have not yet exercised there. In the case of AT&T and Verizon, we're looking to use more of their retail channels as the means by which to sell the offering and complement their voice and data services. We've done more of that in the recent quarters where our Verizon take rates are at the highest they've ever been through the retail channel as we finished 2024 and entered 2025. That's another avenue that candidly has not been the prime channel of customer acquisition. We've also better digitally integrated our cloud solution for discoverability with Apple customers. We have done that in the case of Verizon by completing an SDK or a software development kit integration of our cloud inside the My Verizon app. Almost all Verizon customers deploy and utilize the My Verizon app for customer care, for billing inquiries, and so forth. It is a central highway that everyone passes through. We have now better integrated the cloud to be discovered there for Apple customers so that you do not even need to download the application of Verizon Cloud, and you can find and access and begin a relationship with Verizon Cloud through that channel. We also have expansion opportunities in their value segments, which are their prepaid brands. In their small business segments, Verizon just launched My Biz, and in that, they have a Verizon Cloud perk. As you can get a sense, there are a multitude of avenues with existing customers to continue to expand our reach and penetration, driving more subscriber growth and profitability for our business. Anja, maybe just to dimensionalize Jeff's example at SoftBank, we have said publicly today SoftBank represents hundreds of thousands of customers at just slightly better than a 1% penetration. If they were to replicate or get close to replicating the Verizon performance, hundreds of thousands of customers to Synchronoss becomes a few million customers to Synchronoss. That is why we feel very confident about growth in an account like that. It is exciting. Another question here is about the European customer that you lost. How come you lost them? Did they switch to another third party or? Let me provide a little further clarification on that. Actually, it was a wind down of an eight-year relationship on a legacy BT wireline cloud service offering that was a business that they've chosen to actually exit. BT, as you may or may not know, has gone through a significant transformation over the last couple of years. They have a new CEO who's been there a little over a year. They have a new Chief Commercial Officer or the CEO of their consumer business and their business segment, and they have been retooling the entire business and consolidating significantly in the cost side. As part of that, they wound down a few platforms. This was one that, because it was only targeted at the wireline subscriber base, was one that did not have significant scale and wasn't a significant contributor to us on a growth basis, but it did represent nearly $6 million of annualized revenue. They wound down that service offering, not at all as a result of any issues with the cloud service, but more a consolidation of platforms. We are in ongoing communication with BT. I was there last week because now with the new generation of leaders, they're focused on their converged offerings of their broadband streaming services and mobile with their EE brand. We are in dialogue about how we might be able to revisit a cloud offering that improves their revenue growth and retention as well. Thank you. We're kind of out of time. I just wanted to conclude with asking what you think is sort of misunderstood with your story and why investors did not appreciate the good numbers you put out. Yeah, one of it is I think that there is always an anticipation of what's the next growth vector. When's that next logo going to come in? We have, as I said, confidence that we have a path to do that. We have a great set of references and reference accounts and a business model that we know can work. As a result, we just need to deliver on that expectation and promise. Next, people have been waiting to hear about this tax refund for years. The lack of that tax refund caused us to actually refinance more money than we would have liked to have refinanced if we had received that $28 million plus interest. That also came at a slightly higher interest rate because the last time we refinanced our capital structure, interest rates were at a much lower level. Those contributing factors we think are items that are causing people a little bit of pause. When you deliver on the numbers that you said that you expected to deliver and share it at the end of Q4 and in our earliest communication in 2025, it's a little bit puzzling to us. We are going to just keep on communicating the strength of the business, the profitability of the business, and the long-term nature of our relationships with our key clients. Okay. Thank you. We are actually out of time. I want to thank you, Synchronoss, for joining us today and everyone who participated. I know you have a full one-on-one schedule, but if anyone wants to catch up with the management team, we can squeeze you in outside of the conference maybe. Reach out to us or to the management team directly. With that, I'll hand it over to you, Jeff, for some concluding remarks. Yes. Again, Anja, I'd like to thank you and the Sidoti team for creating a platform such as this that gets us access to tremendous investors. We appreciate the fact that you've invested time with us. For those of you who joined the call today, thank you for getting a better understanding of where Synchronoss is today and the business that we've transformed and now the trajectory we have for future success. Have a great rest of your day. Great. Thank you. Thank you, everyone.