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Dec 31, 2023
Upland Q4 2023 Earnings Report
Upland Software's Q4 2023 financial results were announced, revealing a decrease in total revenue but progress in growth plan.
Key Takeaways
Upland Software reported a decrease in total revenue for Q4 2023, but showed progress in their growth plan with increasing recognition of their products.
Total revenue decreased by 8% to $72.2 million compared to Q4 2022.
Subscription and support revenue decreased by 8% to $68.2 million compared to Q4 2022.
GAAP net loss was $16.0 million, an improvement from the $22.7 million loss in Q4 2022.
Free cash flow increased to $8.6 million, compared to $5.7 million in Q4 2022.
Upland
Upland
Upland Revenue by Segment
Revenue by Segment
Subscription and Support Revenue
CapyFin.comPerpetual License Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Upland expects a decline in total revenue for the quarter ending March 31, 2024, and for the full year ending December 31, 2024, but is making significant investments in sales, marketing, and product development as part of its comprehensive growth plan.
Positive Outlook
- Focus on building great software and delivering value for customers.
- Continued and increasing recognition of products.
- Expansion of relationships with existing customers.
- Welcoming new customers to Upland.
- Product innovation with the launch of the Customer Reference Activity Hub.
Challenges Ahead
- Expected decline in total revenue for the quarter ending March 31, 2024.
- Expected decline in subscription and support revenue.
- Decrease in Adjusted EBITDA for the quarter ending March 31, 2024.
- Expected decline in total revenue for the full year ending December 31, 2024.
- Decrease in Adjusted EBITDA for the full year ending December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income