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Upland Software issues Q2 guidance, updates FY'18 outlook

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Upland Software issues Q2 guidance, updates FY'18 outlook

Upland Software Inc. issued its second-quarter outlook and revised its full-year 2018 guidance.

For the second quarter, the company expects total revenue to be around $33.5 million to $34.5 million, including subscription and support revenue of $30.5 million to $31.5 million. It projects adjusted EBITDA to be between $11.7 million and $12.3 million.

For 2018, Upland Software increased its estimated revenue to $133.2 million to $136.2 million, including subscription and support revenue of $119.9 million to $122.9 million. Previously, the company's projected revenue was $120.4 million to $124.4 million, including subscription and support revenue of $107.8 million to $111.0 million.

The company also expects higher adjusted EBITDA of $46.8 million to $48.8 million for the year, compared to its last projection of $42.0 million to $44.0 million.

For the quarter ended March 31, Upland Software reported a non-GAAP net loss of $7.7 million, or 37 cents per share, higher than the $2.9 million, or 16 cents per share, recorded in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the first quarter was 27 cents.

Net loss was $3.2 million, or a loss of 16 cents per share, compared with a net loss of $5.6 million, or a loss of 33 cents per share, in the year-ago quarter.