secwatch.observer — SEC 8-K summary
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Issuer:     Upland Software, Inc. (UPLD)
CIK:        0001505155
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001505155-24-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505155/000150515524000038/0001505155-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505155/000150515524000038/upld-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001505155-24-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer