Shares of cloud software provider Upland Software (UPLD 8.00%) rose on Friday following a fourth-quarter report that handily beat analyst expectations on all fronts. Revenue soared by more than 60% year over year, and the company's guidance didn't disappoint. The stock was up about 13.8% at 11:05 a.m. EST.
Upland Software reported fourth-quarter revenue of $45.2 million, up 62% year over year and nearly $2 million above the average analyst estimate. Subscription and support revenue was $41.8 million, up 69% year over year.
Non-GAAP earnings per share came in at $0.58, up from $0.37 in the prior-year period and $0.09 better than analysts were expecting. Adjusted earnings before interest, taxes, depreciation, and amortization was $16.7 million, up 72% year over year.
"Q4 was a strong finish to a transformational year marked by accelerating revenue growth, expanding margins, market leading product innovation, increasing customer loyalty and retention, record acquisition activity, and profitable international expansion," said Upland Software CEO Jack McDonald.
Check out the latest earnings call transcript for Upland Software.
Upland Software expects to produce first-quarter revenue between $47.9 million and $48.9 million and full-year revenue between $194.8 million and $198.8 million. Both those ranges are above the consensus analyst estimates of $46.4 million and $190.4 million, respectively.
With fourth-quarter results and guidance coming in ahead of estimates, there was a lot to like about Upland Software's report.