Upland Software Inc . (NASDAQ:UPLD) stock has reached a new 52-week low, touching down at $1.89, as the company grapples with a challenging market environment. This latest price level reflects a significant downturn from previous periods, marking a stark contrast to the stock's performance over the past year. Investors have witnessed a substantial decline in value, with Upland Software's stock experiencing a -35.47% change over the one-year period. The company, known for its cloud-based enterprise work management software, is navigating through a period of investor skepticism and broader market pressures that have weighed heavily on its stock price.
In other recent news, Upland Software outperformed its Q2 2024 earnings estimates, demonstrating a sequential increase in adjusted EBITDA and core bookings which surpassed core churn for the second consecutive quarter. Despite a year-over-year decrease in revenue, the company added 155 new customers and expanded relationships with 275 existing ones. Upland Software also earned 56 badges in G2's Summer 2024 market reports.
Looking ahead, the company expects a year-over-year revenue decline for Q3, but has raised its full-year guidance for 2024. The full-year 2024 revenue is projected to be between $269.6 million and $281.6 million, with adjusted EBITDA anticipated to be between $52.6 million and $58.6 million.
In terms of future strategy, Upland Software plans to refinance its debt in the first half of 2025, with a focus on organic growth and margin expansion. The company is also monitoring acquisition opportunities and anticipates a shift towards 60% new and 40% expansion revenue in the future. These are the recent developments surrounding Upland Software.
InvestingPro Insights
As Upland Software Inc. (UPLD) stock hits a new 52-week low, a closer examination of real-time metrics and InvestingPro Tips can provide investors with a more nuanced understanding of the company's current position. According to recent data, Upland Software has a market capitalization of $52.35 million and is trading near this low point with a price previously closing at $1.96. Despite the challenges, the company maintains a strong gross profit margin of 69.21% over the last twelve months as of Q2 2024. However, it's important to note that the company has not been profitable during this period, with a basic and diluted EPS from continuing operations standing at -$4.6.
InvestingPro Tips suggest that analysts are expecting a sales decline in the current year, which could be contributing to the bearish sentiment. Nonetheless, Upland Software's liquid assets do exceed its short-term obligations, indicating some financial stability in the face of current headwinds. While the stock has seen a significant price reduction over the last three months, with a total return of -33.45%, analysts predict the company will be profitable this year, which could signal a potential turnaround for patient investors. For those looking for deeper insights, there are over 10 additional InvestingPro Tips available, providing a comprehensive analysis of Upland Software's financial health and stock performance.
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