Upland Software, Inc. (NASDAQ:UPLD) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Jack McDonald – Chairman and Chief Executive Officer Mike Hill – Chief Financial Officer Conference Call Participants Jake Roberge – William Blair Johnathan McCary – Raymond James Operator Thank you for standing by, and welcome to the Upland Software First Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and i ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (Address, including zip code, of registrant's principal executive offices) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36720 UPLAND SOFTWARE, INC. (Exact name of reg ...

EXHIBIT 99.1 Upland Software Reports First Quarter 2024 Financial Results May 2, 2024, 04:01 PM Eastern Standard Time AUSTIN, Texas--(BUSINESS WIRE)-- Upland Software, Inc. (Nasdaq: UPLD), a leader in cloud-based tools for digital transformation, today announced financial and operating results for the first quarter 2024 and issued guidance for its second quarter and full year of 2024. First Quarter 2024 Financial Highlights "In Q1, we beat our revenue and Adjusted EBITDA guidance midpoints," said Jack McDon ...

Financial Data and Key Metrics Changes - For Q1 2024, adjusted EBITDA is expected to be between $11.3 million and $14.3 million, representing a 27% decrease from Q1 2023 [1] - Full year 2024 adjusted EBITDA is projected to be between $49 million and $61 million, a 15% decrease from 2023 [3] - Total revenue for Q4 2023 was $72.2 million, an 8% year-over-year decline [77] - Recurring revenue from subscription support decreased 8% year-over-year to $68.2 million [70] Business Line Data and Key Metrics Changes - Perpetual license revenue increased slightly to $1.8 million in Q4 2023 from $1.6 million in Q4 2022 [70] - Professional services revenue was $2.2 million for Q4 2023, reflecting a 26% year-over-year decline [70] Market Data and Key Metrics Changes - The company expects total revenue for the full year ending December 31, 2024, to be between $259 million and $283 million, indicating a 9% decline at the midpoint from 2023 [2] Company Strategy and Development Direction - The company aims to exit 2024 with a core organic growth rate of around 3%, focusing on building a true sales culture and enhancing product development [13][68] - The strategy includes significant investments in sales, marketing, and product development, particularly through the establishment of a Center of Excellence in India [9][12] - The company plans to turn acquisitions back on, targeting one or two deals in 2024, while also continuing a $25 million stock buyback program [41][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive core organic growth by the end of 2024, despite current challenges [13][68] - The company is focusing on mid-single digits core organic growth and margin expansion beginning in 2025 [36][40] Other Important Information - As of December 31, 2023, the company had outstanding net debt of approximately $245 million, with gross debt around $482 million [73] - The company reported free cash flow of $48.7 million for the full year 2023 [72] Q&A Session Summary Question: Update on go-to-market strategy and core revenue growth - Management indicated significant improvements in product development and sales processes, with a target of exiting 2024 with 3% core revenue growth [8][13] Question: Guidance on product revenue and non-core vs core revenues - Management noted that core organic growth is expected to turn positive in 2024, while sunset assets will continue to impact revenue [16][17] Question: Sales approach and cross-selling opportunities - The sales approach is primarily product-based, with a mix of inside and field sales, aiming for a balanced focus on expansion and new sales [22][25] Question: Expectations for free cash flow in 2024 - The company is targeting $20 million to $25 million of free cash flow for 2024 [26] Question: Capital allocation strategy between M&A, buybacks, and debt pay-down - The company plans to continue its stock buyback program while also looking for strategic acquisitions, balancing these with debt management [43][45] Question: Successes in bundling solutions and go-to-market motion - Management highlighted that product-centric sales are most effective, with a focus on expanding existing customer relationships [47][48] Question: Free cash flow contribution from sunset assets - Sunset assets are expected to contribute low free cash flow, with minimal impact anticipated [50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36720 Upland Software, Inc. (Exact name of registrant as specified in its charter) Delaware 27-2992077 (State or other jurisdiction of incorporation or organization) (I.R.S. Empl ...

February 22, 2024, 04:01 PM Eastern Standard Time EXHIBIT 99.1 Upland Software Reports Fourth Quarter 2023 Financial Results AUSTIN, Texas--(BUSINESS WIRE)-- Upland Software, Inc. (Nasdaq: UPLD), a leader in cloud-based tools for digital transformation, today announced financial and operating results for the fourth quarter 2023 and issued guidance for its first quarter and full year of 2024. Fourth Quarter 2023 Financial Highlights "We continue to make progress on our growth plan and remain focused on build ...

Upland Software, Inc. (NASDAQ:UPLD) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Jack McDonald - Chairman & Chief Executive Officer Mike Hill - Chief Financial Officer Conference Call Participants Scott Berg - Needham & Company Jeff Van Rhee - Craig-Hallum Jacob Zerbib - William Blair Operator Thank you for standing by, and welcome to the Upland Software Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a q ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36720 UPLAND SOFTWARE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Upland Software, Inc. (NASDAQ:UPLD) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Jack McDonald - Chairman and Chief Executive Officer Mike Hill - Chief Financial Officer Conference Call Participants Michael Rackers - Needham Jeff Van Rhee - Craig-Hallum Jacob Zerbib - William Blair Operator Thank you for standing by and welcome to the Upland Software Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a ques ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36720 UPLAND SOFTWARE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...