NASDAQ$UPLD
Upland Software Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of 2024 and issued guidance.
Upland Software's Q2 2024 total revenue was $69.3 million, a 7% decrease compared to Q2 2023. The company beat revenue and Adjusted EBITDA guidance midpoints. GAAP net loss was $11.4 million, and free cash flow was $5.2 million. They saw meaningful new customer wins and major customer expansions, along with reinforced strategic partnerships.
- Total revenue decreased by 7% to $69.3 million compared to the second quarter of 2023.
- Subscription and support revenue decreased by 7% to $65.5 million compared to the second quarter of 2023.
- GAAP net loss improved to $11.4 million compared to a net loss of $15.1 million in the second quarter of 2023.
- Adjusted EBITDA was $13.6 million, representing 20% of total revenue.
Headline financials
Revenue & EPS history
Upland · Revenue · Quarterly
$69.3M
Revenue by segment
Upland · $74.1M total across 3 segments · Q3 2023
- Subscription and Support$70M-6.8%94.4%
- Professional Services$2.67M-3.8%3.6%
- Perpetual License$1.49M-11.3%2.0%
Forward guidance
For the quarter ending September 30, 2024, Upland expects total revenue between $63.2 and $69.2 million and Adjusted EBITDA between $12.5 and $15.5 million. For the full year ending December 31, 2024, Upland expects total revenue between $269.6 and $281.6 million and Adjusted EBITDA between $52.6 and $58.6 million.
Tailwinds
- Total revenue is expected to be between $63.2 and $69.2 million for Q3 2024.
- Subscription and support revenue is expected to be between $60.1 and $65.1 million for Q3 2024.
- Adjusted EBITDA is expected to be between $12.5 and $15.5 million for Q3 2024.
- Total revenue is expected to be between $269.6 and $281.6 million for the full year 2024.
- Adjusted EBITDA is expected to be between $52.6 and $58.6 million for the full year 2024.
Headwinds
- Total revenue is expected to decline by 11% at the mid-point for Q3 2024 compared to Q3 2023.
- Adjusted EBITDA is expected to decrease by 13% at the mid-point for Q3 2024 compared to Q3 2023.
- Total revenue is expected to decline by 7% at the mid-point for the full year 2024 compared to 2023.
- Adjusted EBITDA is expected to decline by 14% at the mid-point for the full year 2024 compared to 2023.
- Subscription and support revenue is expected to be between $254.1 and $264.1 million for the full year 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.5%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+0.9%
Avg return
30 days after
57%
26 / 46 earnings
Positive
+27.4%
Q3 2023
Best reaction
-37.6%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | +51.4% | +44.4% | |
| Q4 2025 | -13.6% | -24.8% | -23.6% | |
| Q3 2025 | -7.7% | -4.1% | -9.8% | |
| Q1 2025 | -2.2% | -7.7% | -37.0% | |
| Q4 2024 | +8.4% | +10.1% | -14.0% | |
| Q3 2024 | +16.7% | +23.0% | +100.5% | |
| Q2 2024 | +8.2% | -8.5% | -4.1% | |
| Q1 2024 | +26.3% | +63.9% | +34.1% | |
| Q4 2023 | -37.6% | -42.9% | -37.8% | |
| Q3 2023 | +27.4% | +42.3% | +47.3% | |
| Q2 2023 | -4.5% | -10.8% | +5.4% | |
| Q1 2023 | +1.9% | -10.5% | -9.1% | |
| Q4 2022 | -31.3% | -33.9% | -51.8% | |
| Q3 2022 | +1.6% | -6.5% | -1.3% | |
| Q2 2022 | +4.6% | +2.3% | -14.5% | |
| Q1 2022 | -6.8% | -7.7% | -4.8% | |
| Q4 2021 | +25.3% | +19.3% | +8.6% | |
| Q3 2021 | -21.3% | -22.2% | -40.5% | |
| Q2 2021 | +1.5% | +5.9% | +11.1% | |
| Q1 2021 | -13.8% | -11.9% | -15.5% | |
| Q4 2020 | +0.3% | +6.3% | +1.1% | |
| Q3 2020 | -1.7% | -13.9% | -7.7% | |
| Q2 2020 | +2.6% | -12.7% | -10.1% | |
| Q1 2020 | +5.8% | -1.1% | +20.1% | |
| Q4 2019 | -4.1% | -3.6% | -38.7% | |
| Q3 2019 | -9.7% | -6.8% | -6.4% | |
| Q2 2019 | +8.0% | +3.7% | -11.7% | |
| Q1 2019 | +1.4% | -4.2% | +1.8% | |
| Q4 2018 | +22.0% | +23.9% | +24.8% | |
| Q3 2018 | -1.7% | -9.3% | -16.7% | |
| Q2 2018 | +2.2% | +2.3% | +3.8% | |
| Q1 2018 | +8.4% | +7.8% | +18.1% | |
| Q4 2017 | +10.4% | +3.8% | +3.4% | |
| Q3 2017 | -2.0% | -1.5% | +5.9% | |
| Q2 2017 | -1.1% | +0.5% | -3.9% | |
| Q1 2017 | +1.2% | +6.2% | +2.7% | |
| Q4 2016 | +11.9% | +11.1% | +22.5% | |
| Q3 2016 | +8.4% | +7.3% | +17.3% | |
| Q2 2016 | +10.1% | +15.4% | +20.9% | |
| Q1 2016 | +0.7% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | -4.8% | — | — | |
| Q2 2015 | -1.0% | — | — | |
| Q1 2015 | +20.2% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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