Upland Software, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $216.9M | $274.8M | $297.9M | $317.3M | $302.0M |
| Cost of revenue | $54.8M | $81.1M | $96.4M | $103.7M | $99.5M |
| Gross profit | $162.1M | $193.7M | $201.5M | $213.6M | $202.6M |
| Research and development | $36.5M | $47.4M | $49.4M | $46.2M | $42.7M |
| Operating expenses | $157.7M | $296.0M | $365.4M | $253.8M | $237.2M |
| Operating income | $4.4M | -$102.3M | -$163.9M | -$40.2M | -$34.7M |
| Interest expense | — | $8.9M | $18.7M | $29.1M | — |
| Pretax income | -$38.7M | -$110.1M | -$182.4M | -$70.2M | -$66.6M |
| Income tax expense | $232,000 | $2.6M | -$2.5M | -$1.7M | -$8.3M |
| Net income | -$38.9M | -$112.7M | -$179.9M | -$68.4M | -$58.2M |
| Balance Sheet | |||||
| Cash and equivalents | $29.4M | $56.4M | $236.6M | $248.7M | $189.2M |
| Current assets | $75.3M | $118.4M | $300.2M | $321.3M | $263.0M |
| Total assets | $413.2M | $529.5M | $870.0M | $1.1B | $1.0B |
| Current liabilities | $93.8M | $120.4M | $130.6M | $151.2M | $156.4M |
| Total liabilities | $332.5M | $424.6M | $626.1M | $692.3M | $712.7M |
| Total debt | $238.5M | $293.6M | $482.1M | $522.5M | $527.9M |
| Stockholders' equity | -$48.4M | -$18.3M | $126.3M | $308.9M | $316.3M |
| Cash Flow Statement | |||||
| Cash from operations | $25.8M | $24.2M | $49.9M | $30.0M | $41.7M |
| Depreciation and amortization | $32.1M | $55.0M | $72.0M | $56.1M | $52.9M |
| Stock-based compensation | $9.1M | $15.3M | $22.9M | $41.6M | $53.9M |
| Capital expenditure | $1.4M | $882,000 | $1.2M | $866,000 | $1.1M |
| Free cash flow | $24.4M | $23.4M | $48.7M | $29.1M | $40.6M |
| Share repurchases | $137,000 | $10.8M | $14.2M | — | — |
| Impairments | $0 | $87.2M | $128.8M | $12.5M | $0 |
Shares outstanding 29.4M · Free float 37.8%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.