our financial XXXX. the the year the outlook for and highlights quarter cover full I’ll Jack. first fourth you, quarter for Thank and
which we gross compensation quarter, $X.X acquisition-related quarter revenue, revenue growth or to from expenses, $XX.X million for generally total stock-based expected. due gross product were strong fourth Also, Professional So depreciation, excluding XX% COVID-XX quarter, refer adding million $X.X on back of as Operating cash expenses quarter revenue approximately margin in amortization, expected all when margin. expenses and the during of million total was foreign a acquired amortization, to which travel the and impacts. was renewed the as $XX.X rate were the our course, margin income as gross year-over-year for acquisition remained to Recurring or XX% acquisition-related decline, year And XX%, at representing of over of million grew million. quarter. services year the and and are revenue Overall for are activity. continue fourth the statement, XX% XX% depreciation acquisitions. fourth the typically revenue our in QX slightly annual we’ll fourth XX% of more and XX%. subscription support Acquisition-related was XX% for expenses, result was run generally a $XX.X
of and transformation the three these incurred XX% months For each the acquisition, first expenses acquisitions and then tapered first XX% by within complete transaction are until anniversary. down to rapidly
QX. XX% volume for mobile Adjusted adjusted high $XX.X million or that the X% to investments total telecom of messaging to lower total in fourth to due EBITDA to costs increased XXXX quarter or and quarter up fourth EBITDA we go-to-market our was experienced margin the compared year was due CXM XXXX. Our million election due of $XX of revenue, revenue XX% continuing
differences was million now cash flow QX, was cash and $XX.X record timing flow of to net acquisition-related produced a million XXXX, note of the QX GAAP I after this benefited a record capital in cash flow we us, the million cash quarter $XX.X that GAAP in $X.X quarter right of with operating million will free expenses was million. So for fourth in temporary flow, positive were $X.X cash flow working accounts. $XX.X of operating over by that QX. flows for cash Even little our
for the flow cash XX% adjusting from timing over adjusted still So EBITDA. differences, that’s conversion
forward, $XX.X and $XX.X full XXXX million, million after free generating free cash expenses. flow substantial GAAP GAAP on we are on operating with flow focused a of was year. the cash acquisition-related at even flow, cash was million XXXX this cash Looking From expenses even acquisition-related and $XX.X operating year flow point
cash acquisitions acquisitions. and with upon that possibly future over timing ongoing should over additional $XX $XX million size be for the even XX-month depending of free flow estimating million, We’re and
$XXX million Now of on our in this XXXX, as to a that million is dependency cash up I revolver. to of NOL for addition $XXX note will our sheet, net existing With balance X.X income total approximately our will carryforwards, the capital times currently the leverage that generation, comprised around available cash the three self currently of our should million has liquidity free sheet be ongoing approximately note should estimate This sustained generation balance around to expanding existing $XX cash and times. debt million, flow in flow approximately growth of $XXX prior allow expiration. ongoing utilization that I $XXX tax to of of net our these, we Upland and debt and available markets. undrawn for equity without leverage on XX, regard maintaining at maximum taxes, million of credit December facility, while And of
outstanding XX, the on had that million As per term $XXX will principal of XXXX, our December I factoring of cash net balance or of payments, X% on debt our term $XXX.X debt level. at with X.X%, current year debt making debt million after of locked the approximately we in maturing in note approximately is year sheet. annual are million cash balance million our $X.X $XX XXXX. interest about interest rate August remaining our per outstanding on at our The payments
that our term debt borrowings. no on financial out Additionally, current has I point will covenants
million to for revenue mid-point million, between March at be and of $XX.X million growth XXXX Now XXXX. the total and expects guidance, support and XX, revenue reported to recurring between over the including ended March quarter million subscription XX, $XX.X quarter Upland for $XX.X revenue $XX.X and ended X% the
adjusted XX, XXXX, million million, lead-generation adjusted reflecting sales at in mid-point, related XX% over mid-point representing and reduction headcount and quarter of X% XXXX, be our to of EBITDA incremental the $XX.X quarter $XX.X activities. ended EBITDA a investment margin expected for is March the the between at an First
year EBITDA the a during the back with adjusted to read additional to And related and XX%. target our lead-generation over pass incremental the And expects ended representing $XXX.X full December the the adjusted ended and recurring and revenue ending million year and is and $XX.X XXXX, year EBITDA mid-point of total million, with year XX, XXXX, be of the our $XX.X an investment at sales million add December Upland back to I’ll mid-point, the call EBITDA of XXXX, the subscription support acquisitions X% growth at mid-point Full to revenue expected Jack. headcount at I’ll in mid-XX% margin reflecting XX% between $XXX.X including revenue by activities. that, XXXX margin QX between XXXX, is $XXX.X XXXX. million, around to adjusted million million XX, For XX, between reported X% $XXX.X be be that for that and reduction December over for
