Synacor’s technology now authenticates more than 75 million pay TV homes in the U.S., an indication that the company’s Cloud ID single sign-on product is making strides, CEO Himesh Bhise said Wednesday on the company’s Q4 2015 earnings call.
He added that Synacor, which has been on a buying binge as it shores up a strategy that factors in advanced advertising and over-the-top services, has also won another deal to support in-home and out-of-home advanced video services for a still-unnamed broadband service provider. That follows last November’s disclosure that Synacor had won a deal to provide the backend platform for an OTT service coming from “regional full service communications” provider.
Synacor has not identified those OTT partners, but its known customers include Armstrong, Atlantic Broadband, Burlington Telecom, Cable One, Blue Ridge Communications, Charter, Cincinnati Bell, Grande Communications, EPB Fiber Optics, Consolidated Communications, Suddenlink Communications, WideOpenWest, Verizon, Windstream, GVTC Communications, and CenturyLink Communications, which recently detailed new OTT products that it will offer in and out of its Prism TV footprint for managed IPTV services.
Synacor’s recent OTT focus comes after it acquired NimbleTV, formed a partnership with Siemensand executed an integration with thePlatform, the Comcast-owned online video company.
On the financial end, Synacor posted Q4 revenues of $32.4 million, up 5% from $30.9 million in the year-ago quarter, alongside a net loss of $400,000, narrowed from a loss of $6.4 million.
However, search and advertising revenue dropped 22%, to $19.3 million. Synacor is looking to drive more ad revenue for its service provider customers via its recent $3 million acquisition of Technorati.
Synacor ended 2015 with $15.7 million in cash and cash equivalents.
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