Q1 2025 Upland Software Inc Earnings Call Transcript
Key Points
- Upland Software Inc (UPLD) exceeded its revenue and adjusted EBITDA guidance midpoints for Q1 2025.
- The company reported a Q1 adjusted EBITDA of $13.1 million, resulting in a margin of 21%, with expectations to increase to 26% in Q2.
- Upland Software Inc (UPLD) welcomed 107 new customers in Q1, including 19 major customers, and expanded relationships with 245 existing customers.
- The company earned 76 badges in G2's Spring 2025 report, highlighting the strength of its AI-enabled products.
- Upland Software Inc (UPLD) paid down $34.2 million of debt in Q1 2025, contributing to a decrease in net leverage to 3.7x by year-end.
- The core organic growth rate was flat in Q1 2025, although it is expected to improve to 2% in Q2.
- The divestiture of mobile messaging product lines lowered the 2025 revenue guidance midpoint by $25 million.
- Total revenue for Q2 2025 is expected to decline by 23% at the midpoint compared to the same quarter in 2024.
- Full-year 2025 revenue is projected to decline by 20% at the midpoint compared to 2024.
- The termination of the Chief Sales Officer in April raises questions about the future go-to-market strategy.
Thank you for standing by, and welcome to the Upland Software first-quarter 2025 earnings call. (Operator Instructions) The conference call will be recorded and simultaneously webcast at investor.uplandsoftware.com, and a replay will be available for 12 months.
By now, everyone should have access to the first-quarter 2025 earnings release, which was distributed today at 9:05 AM Eastern Time. If you're not -- if you've not received the release, it's available on Upland's website.
I'd now like to turn the call over to Jack McDonald, Chairman and CEO of Upland Software. Please go ahead, sir.
All right, thank you and welcome to our Q1 2025 earnings call. I'm joined by Mike Hill, our CFO. On today's call, I will start with a Q1 review. Mike will provide some detail on the Q1 numbers and guidance, and then we'll open the call up for Q&A.
Before we get started, Mike, would you please read the Safe Harbor statement?
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