Upland Software reports Q2 revenue $80.2M, beats guidance; announces $115M HGGC investment

Upland Software, Inc.

2022-Q2 EPS reported -$1.25 revenue$158,943,000

Total revenue $80.2M (+5% YoY); subscription & support $75.0M (+4% YoY); GAAP net loss $16.4M ($0.52/share loss).
Adjusted EBITDA $24.5M (31% margin); free cash flow $13.9M, up from $10.6M in Q2 2021.
After quarter close, announced $115M strategic equity investment from HGGC at $17.50/share convertible preferred with 4.5% dividend.
Q3 2022 guidance: revenue $75.7-81.7M, Adj. EBITDA $23.2-26.2M; FY22 revenue $310.5-322.5M, Adj. EBITDA $94.5-100.5M.

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