Investor Presentaiton
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-
GAAP financial measures: Adjusted EBITDA, non-GAAP net income (loss), non-GAAP net income (loss) per share and free cash flow.
We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period
comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our
performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our recurring core business operating
results, such as our revenues excluding the impact for foreign currency fluctuations or our operating performance excluding not only non-cash
charges, but also discrete cash charges that are infrequent in nature. We believe that both management and investors benefit from referring to
these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP
financial measures also facilitate management's internal comparisons to our historical performance and liquidity as well as comparisons to our
competitors' operating results. We believe these non-GAAP financial measures are useful to investors both because they allow for greater
transparency with respect to key metrics used by management in its financial and operational decision-making and they are used by our
institutional investors and the analyst community to help them analyze the health of our business. For a reconciliation of these non-GAAP
financial measures to the most directly comparable GAAP financial measures, see the tables provided below in this presentation.
We are unable to reconcile any forward-looking non-GAAP financial measures to their directly comparable GAAP financial measures because the
information which is needed to complete a reconciliation is unavailable at this time without unreasonable effort.
Upland defines Adjusted EBITDA as net loss, calculated in accordance with GAAP, plus depreciation and amortization expense, interest expense,
net, other expense (income), net, loss on debt extinguishment, provision (benefit) for income taxes, stock-based compensation expense,
acquisition-related expenses, and purchase accounting adjustments for deferred revenue.
Upland defines Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue.
Upland defines free cash flow as GAAP operating cash flow less purchases of property and equipment.
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Non-GAAP Financial Measures
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