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Upland Software (ETR:SOWGn), Inc. (NASDAQ:UPLD) announced Monday that its board of directors has approved a stock repurchase program authorizing the company to buy back up to $10 million of its outstanding common stock, representing nearly 19% of the company’s current market capitalization of $52.94 million. According to InvestingPro data, this move comes as the stock has declined over 60% in the past six months, trading at $1.84. The authorization, which was approved by the board on Friday, allows for repurchases to be made in the open market or through other methods, including negotiated transactions, accelerated share repurchase, indirect purchases using derivatives, or other transactions, in accordance with applicable securities laws. While the company is not currently profitable, InvestingPro analysis shows analysts expect a return to profitability in 2025, with multiple analysts recently revising earnings estimates upward.
The program does not have a specified expiration date and will remain in effect until the full $10 million authorized amount has been used or until the board decides to terminate the plan. The aggregate purchase price for all repurchased shares, including any taxes payable as a result of such repurchases, may not exceed $10 million.
The company stated that the plan covers shares of its issued and outstanding common stock, with a par value of $0.0001 per share. Upland Software’s common stock is listed on the Nasdaq Global Market under the trading symbol UPLD.
This information is based on a statement released in a Form 8-K filing with the U.S. Securities and Exchange Commission.
In other recent news, Upland Software reported lower-than-expected earnings for the second quarter of 2025. The company’s earnings per share (EPS) came in at $0.15, missing the forecast of $0.1867, which represents a 19.66% negative surprise. Additionally, Upland Software’s revenue for the quarter was $53.38 million, falling short of the anticipated $59.97 million, a 10.99% shortfall. Despite these results, Needham maintained its Hold rating on the company, noting that the business appears to be stabilizing. In a positive development, Upland Software announced that its knowledge management solution, RightAnswers, is now available in the Amazon (NASDAQ:AMZN) Web Services (AWS) Marketplace. This move aims to provide customers with streamlined purchasing and management capabilities. These recent developments highlight the company’s ongoing efforts to expand its market reach and manage its financial performance.
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