Upland Software reported its financial and operating results for the third quarter of 2024, with total revenue reaching $68.0 million. This represents a decrease from $72.2 million in the same period of 2023. Subscription and support revenue, a key component, was $64.3 million, down from $68.2 million year-over-year.
The company reported a net loss of $3.4 million for the quarter, an improvement from a net loss of $16.0 million in the third quarter of 2023. Adjusted EBITDA for Q3 2024 was $14.9 million, resulting in a 22% margin. Non-GAAP profit was $0.42 per share, exceeding analysts' consensus estimates by 150%.
For the fourth quarter of 2024, Upland provided guidance expecting total revenue between $66.0 million and $72.0 million, with subscription and support revenue between $62.5 million and $67.5 million. Adjusted EBITDA for Q4 2024 is projected to be between $13.5 million and $16.5 million, implying a 22% margin at the midpoint.
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