Upland Software, Inc. · NASDAQ:UPLD

Upland Software — Q1 2025 Earnings Presentation

23 slides from Upland Software's earnings presentation, May 12, 2025

  1. Slide 1: Investor Presentation

    Investor Presentation May 2025 © Upland Software, Inc. All Rights Reserved. 1

  2. Slide 2: Safe Harbor Statement

    This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or our future financial or operating performance, includin

  3. Slide 3: Table of Contents

    Recent Updates 4 Company Overview 5 Products 6 Table of Customers 9 Contents Market Opportunity 10 Management Team 11 Financial Overview 12 Appendix 17 - Reconciliations, etc. 3

  4. Slide 4: Recent Updates

    • Completed Divestitures to focus our business on markets where we have the strongest competitive advantage, higher margins, and higher growth Recent • Completed build out of our India offshore development center, enabling efficient Updates product innovation • Enhanced product performance and capab

  5. Slide 5: Company Overview

    Company Overview Knowledge & Content Management Upland By the Numbers • Upland provides AI-powered knowledge & content ~$194 million 2.5%+ 1,100+ <3% Scale FY25E Core Total 2H25E Core Organic Enterprise Top Customer % management cloud software to more than 1,100 Revenue Growth Rate Customers of Reve

  6. Slide 6: Upland's AI-Powered Product Portfolio

    Upland’s AI-Powered Product Portfolio Our products solve complex business problems and provide a trusted path forward for AI adoption. 6

  7. Slide 7: Knowledge & Content Management Use Cases

    Knowledge & Content Management Use Cases CONNECTED DOCUMENT WORKFLOW SECURE & COMPLIANT ENTERPRISE AUTOMATION AUTOMATION CONTENT DELIVERY KNOWLEDGE S&C Questionnaire Response Automated RFP Response Mgmt. Powered Agent Assistance Enterprise Search Sales Proposal Generation Professional Services Autom

  8. Slide 8: Loved by Customers, Highly Regarded by Analysts and Media

    Loved by Customers, Highly Regarded by Analysts and Media Customer Validation Analyst Reports Media Recognition 2022 and 2024 Gartner® Market Guide for Customer Service Knowledge KMWorld AI 50 – 2022 (BA Management Systems Insight) (RightAnswers) 2024 Gartner® Market Guide for RFP Response Managemen

  9. Slide 9: 1,100+ Enterprise Accounts

    1,100+ Enterprise Accounts(1) ~87% Financial Services Manufacturing, Industrial Recurring Revenue from Major Enterprise Accounts(1) Government, Nonprofit, Education Corporate Services ~$135K Average annual spend per Enterprise Account(1) (ARR) Technology Healthcare 99% Telecom, Media Consumer, Retai

  10. Slide 10: ~$11B TAM

    Favorable Market Dynamics Supporting Long-Term Growth Knowledge Content Services(1) Knowledge Management software helps Management(2) $5B TAM organizations capture, organize, share, and $6B TAM analyze knowledge to improve decision- 15% Growth 15% Growth making and collaboration. Content Services so

  11. Slide 11: Experienced Management Team

    Experienced Management Team Karen Cummings Dan Doman Mike Hill Rick Rinewalt President & Chief Product Chief Financial Chief Technology Chief Operating Officer Officer Officer Officer Jack McDonald Founder, Chairman, & CEO Matt Smith Michael Frannea Jantzen McLellan Jen Verzal General Counsel & SVP

  12. Slide 12: Financial Highlights

    Financial Highlights ~$194 million 2.5%+ Growth at Scale FY25E Core Total Revenue 2H25E Core Organic Growth Rate Highly Predictable and 99% 93% Strong Visibility YE24 Net Dollar Retention Rate Core Only FY25E % Recurring Revenue Core Only 78% 27% → 31%+ Robust Profitability FY25E Non-GAAP FY25E AEBI

  13. Slide 13: Core Total Revenue Trend

    Core Total Revenue Trend(1) Our Core Total Revenue Trend ($ in millions) reflects historical and actual forecasted revenues of our Core business excluding Divestitures $400 Growth Goals and Sunset Assets. 20% $350 5%+ Core Organic 5%+ Our Core business has 99% 1% 2-3% Growth Rate: $300 0% 0% NDRR pr

  14. Slide 14: Total Revenue Trend

    Total Revenue Trend ($ in millions) We have completed Divestitures / Sunsets to focus our business on markets where we have a strong competitive $298 advantage, higher margins, $275 and higher growth. ~$78 ~$67 $219 ~$29 ~$15 Revenue associated with ~$17 ~$10 Divestitures is shown in purple $191 $19

  15. Slide 15: Total Adjusted EBITDA and Margin Trend

    Total Adjusted EBITDA and Margin Trend ($ in millions) AEBITDA Growth and $100 Margin Expansion Goals 40% Top-line growth and cost $90 30%+ 31%+ 30% efficiencies are driving AEBITDA 27% growth in FY’25 with Divestitures $80 22% of low/no margin assets driving 20% 20% $70 an increase in AEBITDA Margi

  16. Slide 16: Operating Targets

    Operating Targets (as a % of revenue) Target Target Non-GAAP Financial Measures 2023 2024 2025E(4) 2H25(5) Model(5) Core Organic Growth Rate(1) -2% -1% 2-3% 3%+ 8% Adjusted EBITDA(2) 22% 20% 27% 30%+ 32% Rule of X% 20% 19% 29% 33% 40% Revenue 100% 100% 100% 100% 100% Gross Margin(3) 73% 74% 78% 80%

  17. Slide 17: Appendix

    Appendix 17

  18. Slide 18: Debt Summary

    Debt Summary ($ in millions) March 31, 2025(1) Term Loans with fixed 5.4% rate(1) 216.9 Term Loans with floating 8.2% rate(2) 42.5 3.7x Total Gross Debt 259.4 YE25E Target Net Leverage Less: Unrestricted Cash 33.7 Continuing to De-lever Total Net Debt(3) 225.7 thereafter (1) Floating interest rate e

  19. Slide 19: Reconciliation of Total Revenue to Core Total Revenue

    Reconciliation of Total Revenue to Core Total Revenue ($ in millions) Year Ended December 31, 2024 2023 GAAP – based Total Revenue 275 298 Less: Revenue from Sunset Assets 17 29 Revenue from Divestitures 67 78 Core Total Revenue 191 191 Source: Company Information. Notes: • See Appendix for definiti

  20. Slide 20: Reconciliation of Total Revenue to Core Organic Revenue

    Reconciliation of Total Revenue to Core Organic Revenue ($ in millions) Year Ended December 31, 2023 2024 2023 2022 Compare Total Revenue 274.8 297.9 297.9 317.3 Less: Perpetual license revenue 5.8 6.1 6.1 7.0 Professional services revenue 8.3 10.2 10.2 12.5 Subscription and support revenue 17.1 28.

  21. Slide 21: Reconciliation of Selected Non-GAAP Measures

    Reconciliation of Selected Non-GAAP Measures Year Ended December 31, 2024 ($ in millions) GAAP % of Non-GAAP % GAAP Total Adjustments Note Non-GAAP of Total Revenue Revenue Total revenue 275 - 275 (1) Cost of revenue: 76 28% (10) 66 24% Subscription and support 5 2% - 5 2% Professional services and

  22. Slide 22: Reconciliation of Selected Non-GAAP Measures

    Reconciliation of Selected Non-GAAP Measures Year Ended December 31, 2023 ($ in millions) GAAP % of Non-GAAP % GAAP Total Adjustments Note Non-GAAP of Total Revenue Revenue (1) Total revenue 298 1 298 (2) Cost of revenue: 89 30% (14) 75 25% Subscription and support 7 3% - 7 3% Professional services

  23. Slide 23: Guidance and Projection Disclaimer

    Guidance & Projection Disclaimer; Definitions and Non-GAAP Financial Measures Guidance and Projection Disclaimer: FY25E Total Revenue, AEBITDA, AEBITDA Margin, Recurring Revenue are per guidance mid-points. Gross Margin and AEBITDA Margin is calculated based on Total Revenue. FY25E Core Organic Grow

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