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Support.com, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 13, 2021. Its latest SEC filing is a SC 13G from Sep 24, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Delivers outsourced customer and technical support services and cloud software to companies, and technology support to consumers and small businesses.

How Did They Make Money?

FY2017 revenue

Who Were Their Customers?

Companies buy outsourced customer support directly, while communications providers, retailers and technology companies sell partner-branded services to end users. Consumers and small businesses can also buy tech support directly, and software is sold directly or through resellers.

Did Revenues Turn Into Profits?

No. It lost $1.5M in FY2017.

Operating income, FY2017
−3% of revenue
▼ −90% (Loss) vs FY2016 (−$16.5M, −27%)
Net income, FY2017
−3% of revenue
▼ −90% (Loss) vs FY2016 (−$16M, −26%)
Free cash flow, FY2017
−7% of revenue
▼ −64% (Loss) vs FY2016 (−$12M, −19%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q2 FY2021, the three months to Jun 30, 2021
Revenue
▼ −23%
vs $11M in Q2 FY2020
Net income
▼ Now a loss
vs $617K in Q2 FY2020
  • Sep 14, 2021 Completed its merger with Greenidge; Nasdaq trading was suspended Each Support.com share converted into 0.115 Greenidge Class A shares.

Shrank. Revenue fell 28% in 3 years, from $83M in FY2014 to $60.1M in FY2017, about 10% a year.

Enterprise and global delivery focus The older report described services aimed at consumers and small businesses and U.S.-based agents; the latest report says the company intends to move toward enterprise customers and global delivery.

Software sales model The older report offered some software under perpetual licenses and some by subscription; the latest says end-user software is sold mainly through annual subscriptions.

Who Did They Compete With?

Competes with Concentrix, Teleperformance, Sitel, TaskUs, Alorica, and 24-7 Intouch

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