Welcome to our dedicated page for Upland Software news (Ticker: UPLD), a resource for investors and traders seeking the latest updates and insights on Upland Software stock.
Upland Software reports developments for a Nasdaq-listed enterprise software company focused on AI-powered knowledge and content management applications. Its updates center on quarterly financial results, subscription and support revenue, Adjusted EBITDA, cash flow, and the revenue effects of completed divestitures.
Company news also covers product activity across Upland's portfolio, including knowledge management, AI enablement, audience engagement, workflow automation, and cloud fax offerings such as Second Street, Panviva, RightAnswers, BA Insight, and InterFAX. Governance-related announcements include chief executive succession and equity compensation matters tied to executive leadership.
Upland Software (Nasdaq: UPLD) announced Q3 2020 results, reporting total revenue of $74.2 million, up 35% year-over-year. Subscription and support revenue reached $71.0 million, reflecting a 39% increase. The GAAP net loss decreased to $11.3 million from $12.3 million in Q3 2019. Adjusted EBITDA grew 21% to $25.0 million, representing 34% of total revenue. Upland raised guidance for Q4 and full year 2020, projecting total revenue between $283.5 and $287.5 million. The company also completed a $136.9 million equity offering, enhancing its capital for potential acquisitions.
Upland Software (Nasdaq: UPLD) plans to announce its third-quarter financial results on November 5, 2020, after market close. An investor conference call will follow at 4:00 p.m. Central Time, accessible via a webcast or by phone. Upland emphasizes its commitment to customer success with its cloud-based tools for digital transformation, enabling effective engagement with customers, optimizing sales performance, and automating document workflows.
On August 18, 2020, Upland Software conducted a registered public offering, raising US$119 million by selling 3,500,000 shares at $34.00 each. The offering included a 30-day option for underwriters to purchase an additional 525,000 shares. Credit Suisse led the underwriting syndicate, which featured Jefferies, Canaccord Genuity, and others. This strategic funding aims to bolster Upland's position in the cloud-based digital transformation sector, potentially enhancing its growth prospects.