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) has acquired BlueVenn, a leading cloud-based customer data platform, for $51.9 million. This acquisition aims to enhance Upland's Customer Experience Management (CXM) by unifying consumer data from various channels, improving digital engagement strategies. BlueVenn is expected to generate annual revenue of approximately $15.5 million, with $13.2 million being recurring. The deal falls within Upland's valuation target of 5-8x pro forma Adjusted EBITDA and is anticipated to be accretive to Upland's Adjusted EBITDA per share. Insights on the acquisition indicate strong market potential.
Upland Software reported a strong fourth quarter 2020 with total revenue of $78.2 million, an 18% increase year-over-year. Subscription revenue grew by 27% to $74.9 million. While they recorded a GAAP net loss of $5.7 million, it was significantly improved from a loss of $19.9 million in Q4 2019. Full-year revenue reached $291.8 million, a 31% rise. Looking forward, Upland expects Q1 2021 revenue between $70.6 and $74.6 million, indicating a projected growth of 8%. Additionally, free cash flow improved to $21.2 million from $6.7 million in Q4 2019.
Upland Software (Nasdaq: UPLD) will announce its financial results for Q4 and full-year 2020 on February 24, 2021, after market close. A conference call to discuss these results and the business outlook will follow at 4:00 p.m. CT. Investors can access the call via webcast or by phone. Upland Software specializes in cloud-based tools aimed at enhancing digital transformation, supporting organizations in customer engagement, sales optimization, project management, and workflow automation.
Upland Software (Nasdaq: UPLD) has acquired Second Street Media for $25.4 million in cash, enhancing its digital transformation offerings. This acquisition integrates Second Street's audience engagement tools into Upland's product suite, expected to generate approximately $9.4 million in annual recurring revenue. The deal aligns with Upland's strategy to improve customer engagement through interactive content. Following integration, Second Street is projected to deliver at least $4.2 million in Adjusted EBITDA annually, contributing positively to Upland's financial performance.
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.