Upland Software Inc Q4 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Congrats on the results. Almost $40 million of free cash flow here in the back half, that's great to see. Jack, so look, you've assembled a critical mass portfolio in CXM or customer engagement, whatever you want to call it, right? And it seems like the cross-sell in that segment has certainly been helping to drive the organic growth. If we think about the M&A strategy going forward, is there a priority now around tighter product synergy, be that in CX or maybe a new category? Or is it really about being financially opportunistic given where valuations are these days?

Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst : Yes, yes. That makes sense. I mean huge categories and the distribution will help. And that's probably a good segue into my follow-up. So I want to hit on the dollar-based net retention rate. Obviously, a blip this year with the pandemic, but it was 97% last year, right? So we're within striking distance of triple digits. Rod and team are obviously pushing really hard on the cross-sell/up-sell motion. Do you think net retention can get to 100% plus? Or how are you thinking about that evolving over the next couple of years?