Synchronoss Technologies Chief Financial Officer Lou Ferraro joined Steve Darling from Proactive to announce that the company has received its anticipated tax refund under the 2020 CARES Act, totaling $33.9 million. This amount includes $5.9 million in interest from the Internal Revenue Service. Ferraro stated that the company has already received $30.2 million of the refund, and 75% of that—approximately $22.6 million—has been used to pay down Synchronoss’s existing term loan at par. The IRS has indicated the remaining $3.7 million is expected to be received by Labor Day 2025. In total, approximately $25.4 million of the refund will be allocated to reduce a portion of the company’s $200 million term loan facility, as stipulated in the Credit Agreement. This repayment will generate an estimated $2.9 million in annual interest savings at the current rate. Ferraro also noted that Synchronoss has reduced its overall debt by more than $100 million over the past four years. Furthermore, the company anticipates qualifying for a one-time 50-basis point reduction in its loan interest rate on the first anniversary of the term loan, based on the improved leverage ratio. This strategic use of the tax refund reinforces Synchronoss’s ongoing efforts to strengthen its balance sheet and reduce financial liabilities. #proactiveinvestors #synchronosstechnologiesinc #nasdaq #sncr #cloud #CloudRevenue #Q12025Results #JeffMiller #RecurringRevenue #TechEarnings #VerizonCloud #ATandTCloud #InvestorUpdates #TPBirchGrove #SoftwareGrowth #Refinancing