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Mar 31, 2023
Upland Q1 2023 Earnings Report
Upland Software's Q1 2023 financial results were released, with the company surpassing its Q1 guidance and reaffirming its full-year 2023 guidance.
Key Takeaways
Upland Software reported a decrease in total revenue by 2% year-over-year to $77.1 million, while beating revenue and Adjusted EBITDA guidance midpoints. GAAP net loss was $140.0 million, and free cash flow came in stronger than expected at $15.6 million.
Total revenue was $77.1 million, a 2% decrease from Q1 2022.
Subscription and support revenue was $72.9 million, a 1% decrease from Q1 2022.
GAAP net loss was $140.0 million compared to a GAAP net loss of $22.8 million in Q1 2022, primarily due to a $128.8 million non-cash Goodwill impairment charge.
Free cash flow was $15.6 million, compared to $8.0 million in Q1 2022.
Revenue by Segment
Forward Guidance
For the quarter ending June 30, 2023, Upland expects total revenue between $69.8 and $75.8 million, and Adjusted EBITDA between $15.0 and $18.0 million. For the full year ending December 31, 2023, Upland expects total revenue between $288.0 and $312.0 million, and Adjusted EBITDA between $63.0 and $75.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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