Upland Q1 revenue down 8% YoY to $70.7M; guides FY24 revenue down 8% at midpoint

Upland Software, Inc.

2024-Q1 EPS reported -$3.37 revenue$70,736,000

Total revenue $70.7M, down 8% YoY; subscription revenue $67.1M, also down 8%.
GAAP net loss $96.1M ($3.37/share), improved from $140M loss in Q1 2023 due to lower goodwill impairment ($87.2M vs $128.8M).
Adjusted EBITDA $13.1M (19% margin), down from $17.6M (23%) in Q1 2023; free cash flow $4.9M vs $15.6M.
Q2 2024 guidance: revenue $64.4M-$70.4M (down 10% at midpoint YoY); Adj. EBITDA $11.8M-$14.8M (down 20%).
FY 2024 guidance: revenue $264.7M-$282.7M (down 8% at midpoint); Adj. EBITDA $50.8M-$59.8M (down 14%).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Upland Software, Inc. reported the quarter ended March 31, 2024 results: revenue $70.7 million, net income $96.1 million, EPS $3.37 per share.

Period: the quarter ended March 31, 2024
Revenue: $70.7 million
Net income: $96.1 million
EPS: $3.37 per share
Result: reported results

Exact text from the filing

and operating results for the first quarter 2024 and issued guidance for its second quarter and full year of 2024. First Quarter 2024 Financial Highlights • Total revenue was $70.7 million, a decrease of 8% from $77.1 million in the first quarter of 2023. • Subscription and support revenue was $67.1 million, a decrease of 8% from $72.9 million in the first quarter

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Source: SEC EDGAR

accession 0001505155-24-000038

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