- Upland Software press release ( NASDAQ: UPLD ): Q4 GAAP EPS of -$0.75 misses by $0.42 .
- Revenue of $78.8M (+4.1% Y/Y) beats by $2.03M .
- Adjusted EBITDA was $24.3 million, or 31% of total revenue, compared to $25.1 million, or 33% of total revenue, in the fourth quarter of 2021.
- GAAP operating cash flow was $5.8 million, compared to GAAP operating cash flow of $13.1 million in the fourth quarter of 2021.
- Free cash flow was $5.7 million, compared to free cash flow of $12.9 million in the fourth quarter of 2021.
- Outlook: For the quarter ending March 31, 2023, Upland expects reported total revenue to be between $72.0 and $78.0 million vs $76.87M consensus, including subscription and support revenue between $67.5 and $72.5 million, for a decline in total revenue of 5% at the mid-point over the quarter-ended March 31, 2022. First quarter 2023 Adjusted EBITDA is expected to be between $15.5 and $18.5 million, for an Adjusted EBITDA margin of 23% at the mid-point. This Adjusted EBITDA guide at the mid-point is a decrease of 27% from the quarter-ended March 31, 2022.
- For the full year ending December 31, 2023, Upland expects reported total revenue to be between $288.0 and $312.0 million vs $311.77M consensus, including subscription and support revenue between $269.0 and $289.0 million, for a decline in total revenue of 5% at the mid-point over the year ended December 31, 2022. Full year 2023 Adjusted EBITDA is expected to be between $63.0 and $75.0 million, for an Adjusted EBITDA margin of 23% at the mid-point. This Adjusted EBITDA guide at the midpoint is a decrease of 29% over the year ended December 31, 2022.
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Upland Software reports mixed Q4 earnings; initiates Q1 and FY23 outlook