Upland Software (UPLD) Misses Q3 EPS by 1c, Revenues Beat; FY18 Revenue Guidance Above Consensus

Upland Software (NASDAQ: UPLD) reported Q3 EPS of $0.38, $0.01 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $37.1 million versus the consensus estimate of $36.57 million.

Total revenue was $37.1 million, an increase of 42% from $26.1 million in the third quarter of 2017.
Subscription and support revenue was $33.9 million, an increase of 46% from $23.2 million in the third quarter of 2017.
GAAP net loss was $4.3 million, an increase of 21% from a GAAP net loss of $3.5 million, in the third quarter of 2017.
Adjusted EBITDA was $13.1 million, or 35% of total revenue, an increase of 57% from $8.3 million, or 32% of total revenue, in the third quarter of 2017.
Cash on hand as of the end of the third quarter was $16.1 million.

"Q3 was another record quarter with strong revenue growth, record Adjusted EBITDA, and a host of significant product enhancements that demonstrate our commitment to customer-driven innovation," said Jack McDonald, chairman and CEO of Upland Software. "And just after quarter close, we announced our largest acquisition to date of Rant & Rave, a leading customer engagement platform and strategic addition to our product portfolio, which added meaningful cross-selling opportunities in the United States and Europe. Our Q4 and full-year guidance is strong, our M&A pipeline is robust, and we are actively pursuing additional strategic acquisition opportunities."

GUIDANCE:

Upland Software sees FY2018 revenue of $146.5-148.5 million, versus the consensus of $146 million.

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

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