secwatch.observer — SEC 8-K summary
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Issuer:     Upland Software, Inc. (UPLD)
CIK:        0001505155
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001505155-23-000046
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upland Q1 revenue $77.1M (-2% YoY); GAAP net loss $140M on $128.8M goodwill impairment
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- Total revenue $77.1M, down 2% YoY; subscription revenue $72.9M, down 1% (flat ex-FX). Beat Q1 guidance midpoint.
- GAAP net loss $140.0M inclusive of $128.8M non-cash goodwill impairment; GAAP EPS loss $4.38 vs $0.73 loss YoY.
- Adjusted EBITDA $17.6M (23% margin) vs $23.4M (30%) a year ago; free cash flow $15.6M, up from $8.0M.
- Q2 2023 guidance: revenue $69.8-$75.8M, Adj EBITDA $15-$18M (23% margin); full-year 2023 reaffirmed.
- Added 20 new major customers and 207 new customers in Q1; cash $257.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505155/000150515523000046/0001505155-23-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505155/000150515523000046/upld-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001505155-23-000046

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