Upland Software (NASDAQ: UPLD) reported Q4 EPS of $0.58, $0.09 better than the analyst estimate of $0.49. Revenue for the quarter came in at $45.2 million versus the consensus estimate of $43.45 million.

• Total revenue was $45.2 million, an increase of 62% from $27.8 million in the fourth quarter of 2017.
• Subscription and support revenue was $41.8 million, an increase of 69% from $24.8 million in the fourth quarter of 2017.
• GAAP net income was $2.7 million, or income of $0.13 cents per share, compared to a GAAP net loss of $3.8 million, or a loss of $0.19 cents per share, in the fourth quarter of 2017.
• Adjusted EBITDA was $16.7 million, or 37% of total revenue, an increase of 72% from $9.7 million, or 35% of total revenue, in the fourth quarter of 2017.
• Cash on hand as of the end of the fourth quarter was $16.7 million.

“Q4 was a strong finish to a transformational year marked by accelerating revenue growth, expanding margins, market leading product innovation, increasing customer loyalty and retention, record acquisition activity, and profitable international expansion,” said Jack McDonald, chairman and CEO of Upland Software. “Our pro forma annualized run-rates are now north of $194 million in revenue and $72 million in Adjusted EBITDA and, as our strong guidance indicates, we are set up for a great 2019 with strong customer relationships, productive sales channels, a robust pipeline of acquisitions, and the operating and financial resources to execute on our plan," he added. “Additionally, just this week we announced a major new product and go-to-market strategy with the launch of our enterprise cloud solution suites, to maximize value for customers and increase Upland\'s organic growth.”

GUIDANCE:

Upland Software sees Q1 2019 revenue of $47.9-48.9 million, versus the consensus of $46.43 million.

Upland Software sees FY2019 revenue of $194.8-198.8 million, versus the consensus of $190.34 million.

For the quarter ending March 31, 2019, Upland expects reported total revenue to be between $47.9 and $48.9 million, including subscription and support revenue between $44.4 and $45.2 million, for growth in recurring revenue of 62% at the mid-point over the quarter-ended March 31, 2018. First quarter 2019 Adjusted EBITDA is expected to be between $17.2 and $17.8 million, for an Adjusted EBITDA margin of roughly 36% at the mid-point, representing growth of 62% at the mid-point over the quarter-ended March 31, 2018.

For the full year ending December 31, 2019, Upland expects reported total revenue to be between $194.8 and $198.8 million, including subscription and support revenue between $181.8 and $185.0 million, for growth in recurring revenue of 34% at the mid-point over the year ended December 31, 2018. Full year 2019 Adjusted EBITDA is expected to be between $70.8 and $73.2 million, for an Adjusted EBITDA margin of 37% at the mid-point, representing growth of 36% at the mid-point over the year ended December 31, 2018.

For earnings history and earnings-related data on Upland Software (UPLD) click here.