Benzinga | Aug 4, 2021 04:22PM EDT

Upland Software Sees Q3 Sales $75.4M-$79.4M vs $77.5M Est.l Sees FY21 Sales $300.8M-$321.8M vs $307.03M Est.

Business Outlook

For the quarter ending September 30, 2021, Upland expects reported total revenue to be between $75.4 and $79.4 million, including subscription and support revenue between $72.2 and $75.8 million, for growth in recurring revenue of 4% at the mid-point over the quarter-ended September 30, 2020. Third quarter 2021 Adjusted EBITDA is expected to be between $23.9 and $25.9 million, for an Adjusted EBITDA margin of 32% at the mid-point. This Adjusted EBITDA guide at the mid-point is in line with the quarter-ended September 30, 2020.

For the full year ending December 31, 2021, Upland expects reported total revenue to be between $300.8 and $312.8 million, including subscription and support revenue between $287.1 and $297.1 million, for growth in recurring revenue of 5% at the mid-point over the year ended December 31, 2020. Full year 2021 Adjusted EBITDA is expected to be between $94.8 and $100.8 million, for an Adjusted EBITDA margin of 32% at the mid-point. This Adjusted EBITDA guide at the midpoint is a reduction of 2% over the year ended December 31, 2020, reflecting incremental investments in our go-to-market activities.