UPLD · Upland Software, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.69M | - | $50.53M | $53.38M | $63.66M | - | $66.69M | $69.34M | $70.74M | - |
| Cost of Revenue | $11.93M | - | $11.68M | $13.44M | $18.05M | - | $19.70M | $20.47M | $21.05M | - |
| Gross Profit | $36.76M | - | $38.85M | $39.95M | $45.61M | - | $46.99M | $48.87M | $49.69M | - |
| R&D | $8.04M | - | $7.87M | $9.78M | $11.54M | - | $11.43M | $12.19M | $12.46M | - |
| SG&A | $8.54M | - | $8.79M | $10.22M | $11.62M | - | $11.05M | $13.88M | $13.23M | - |
| Total Operating Expenses | $31.71M | - | $33.50M | $46.98M | $46.66M | - | $50.30M | $54.24M | $141.33M | - |
| D&A | $6.62M | - | $6.36M | $6.86M | $9.66M | - | $11.49M | $11.38M | $13.80M | - |
| Operating Income | $5.05M | - | $5.35M | ($7.04M) | ($1.05M) | - | ($3.31M) | ($5.37M) | ($91.64M) | - |
| Interest Expense | - | - | - | $4.14M | $4.96M | - | $2.52M | $5.38M | - | - |
| Income Tax | $986.0K | - | ($259.0K) | ($171.0K) | ($1.34M) | - | $530.0K | $1.21M | ($547.0K) | - |
| Net Income | ($1.23M) | - | ($1.12M) | ($13.03M) | ($25.85M) | - | ($1.73M) | ($11.44M) | ($96.13M) | - |
| EPS - Basic | ($0.09) | - | ($0.09) | ($0.51) | ($0.97) | - | ($0.12) | ($0.47) | ($3.37) | - |
| EPS - Diluted | ($0.09) | - | ($0.09) | ($0.51) | ($0.97) | - | ($0.12) | ($0.47) | ($3.37) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $29.78M | $29.40M | $22.75M | $41.01M | $33.70M | $56.43M | $59.74M | $232.38M | $231.61M | $236.56M |
| Accounts Receivable | $23.62M | $25.60M | $18.94M | $20.13M | $26.08M | $38.65M | $31.85M | $30.24M | $29.25M | $38.77M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $2.29M | $2.14M | $1.77M | $3.06M | $1.94M | $9.39M | $8.79M | $7.48M | $4.64M | $8.14M |
| Current Assets | $73.51M | $75.25M | $65.10M | $83.39M | $84.17M | $118.39M | $117.95M | $289.93M | $289.19M | $300.23M |
| Total Assets | $402.66M | $413.18M | $409.11M | $441.72M | $456.97M | $529.52M | $554.94M | $739.86M | $754.95M | $870.02M |
| Current Liabilities | $87.23M | $93.76M | $83.95M | $89.64M | $101.28M | $120.42M | $118.98M | $122.28M | $123.38M | $130.65M |
| Long-term Debt | - | $224.67M | - | - | - | $286.97M | - | - | - | $473.50M |
| Total Liabilities | $324.47M | $332.47M | $328.76M | $357.99M | $370.13M | $424.60M | $432.22M | $612.96M | $615.81M | $626.09M |
| Stockholders' Equity | ($52.39M) | ($48.37M) | ($47.25M) | ($42.39M) | ($37.82M) | ($18.30M) | $907.0K | $6.49M | $20.12M | $126.29M |
| Retained Earnings | ($641.74M) | ($640.51M) | ($641.60M) | ($640.48M) | ($627.45M) | ($601.60M) | ($598.17M) | ($596.44M) | ($585.00M) | ($488.87M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.60M | - | - | - | $8.30M | - | - | - | $5.12M | - |
| Investing Cash Flow | $96.0K | - | - | - | $3.79M | - | - | - | ($183.0K) | - |
| Financing Cash Flow | ($5.11M) | - | - | - | ($34.72M) | - | - | - | ($9.60M) | - |
| CapEx | $81.0K | - | - | - | $424.0K | - | - | - | $183.0K | - |
| Free Cash Flow | $5.52M | - | - | - | $7.88M | - | - | - | $4.94M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 75.5% | - | 76.9% | 74.8% | 71.6% | - | 70.5% | 70.5% | 70.2% | - |
| Operating margin | 10.4% | - | 10.6% | -13.2% | -1.7% | - | -5.0% | -7.7% | -129.6% | - |
| EBITDA margin | 24.0% | - | 23.2% | -0.3% | 13.5% | - | 12.3% | 8.7% | -110.0% | - |
| Net margin | -2.5% | - | -2.2% | -24.4% | -40.6% | - | -2.6% | -16.5% | -135.9% | - |
| Free cash flow margin | 11.3% | - | - | - | 12.4% | - | - | - | 7.0% | - |
| FCF / Net income | -4.49 | - | - | - | -0.30 | - | - | - | -0.05 | - |
| R&D / Revenue | 16.5% | - | 15.6% | 18.3% | 18.1% | - | 17.1% | 17.6% | 17.6% | - |
| SG&A / Revenue | 17.5% | - | 17.4% | 19.1% | 18.3% | - | 16.6% | 20.0% | 18.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -0.3% | - | -0.3% | -2.9% | -5.7% | - | -0.3% | -1.5% | -12.7% | - |
| Return on equity | 2.3% | - | 2.4% | 30.7% | 68.3% | - | -191.1% | -176.3% | -477.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.84 | 0.80 | 0.78 | 0.93 | 0.83 | 0.98 | 0.99 | 2.37 | 2.34 | 2.30 |
| Quick ratio | 0.84 | 0.80 | 0.78 | 0.93 | 0.83 | 0.98 | 0.99 | 2.37 | 2.34 | 2.30 |
| Cash ratio | 0.34 | 0.31 | 0.27 | 0.46 | 0.33 | 0.47 | 0.50 | 1.90 | 1.88 | 1.81 |
| Leverage | ||||||||||
| Debt / Equity | - | -4.64 | - | - | - | -15.68 | - | - | - | 3.75 |
| Debt / Assets | - | 0.54 | - | - | - | 0.54 | - | - | - | 0.54 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | -1.7x | -0.2x | - | -1.3x | -1.0x | - | - |
| Equity multiplier | -7.69 | -8.54 | -8.66 | -10.42 | -12.08 | -28.93 | 611.84 | 114.03 | 37.52 | 6.89 |
| Liabilities / Assets | 0.81 | 0.80 | 0.80 | 0.81 | 0.81 | 0.80 | 0.78 | 0.83 | 0.82 | 0.72 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.12 | 0.12 | 0.14 | - | 0.12 | 0.09 | 0.09 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 177d | - | 137d | 138d | 150d | - | 174d | 159d | 151d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 70d | - | 55d | 83d | 39d | - | 163d | 133d | 80d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | 74.9x | 10.5x | 4.4x | - |
| P / S | 0.4x | - | 1.4x | 1.0x | 1.3x | - | 1.0x | 1.0x | 1.3x | - |
| EV / EBITDA | -0.9x | - | 3.9x | - | 5.5x | - | 1.0x | -27.3x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -23.5% | - | -24.2% | -23.0% | -10.0% | - | -10.0% | -6.9% | -8.2% | - |
| Revenue CAGR (3y) | -14.2% | - | -14.0% | -12.7% | -6.8% | - | -4.3% | -3.1% | -1.5% | - |
| Revenue CAGR (5y) | -8.0% | - | -7.4% | -5.6% | -1.3% | - | 3.9% | 5.5% | 7.8% | - |
| Gross profit growth (YoY) | -19.4% | - | -17.3% | -18.2% | -8.2% | - | -8.2% | -2.9% | -3.6% | - |
| Operating income growth (YoY) | - | - | - | -31.0% | 98.9% | - | 57.1% | 42.8% | 33.3% | - |
| Net income growth (YoY) | 95.2% | - | 35.3% | -13.9% | 73.1% | - | 80.0% | 24.5% | 31.4% | - |
| EPS growth (YoY) | 90.7% | - | 25.0% | -8.5% | 71.2% | - | 61.3% | 7.8% | 23.1% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -29.9% | - | - | - | 59.6% | - | - | - | -68.4% | - |
| FCF CAGR (5y) | -14.7% | - | - | - | - | - | - | - | 1.0% | - |
| Book value growth (YoY) | -38.5% | -164.2% | - | - | - | - | -99.4% | -96.1% | -87.9% | -59.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$427.23M totalProduct$210.35M · 49.2%
Subscription And Support$205.07M · 48.0%
Professional Services And Other$6.52M · 1.5%
Perpetual License$5.28M · 1.2%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Upland Software against the 5 most active filers in the same SIC group.