Upland Software, Inc. (UPLD) AI Stock Analysis
UPLD AI stock analysis summary
AI ResearchUpland Software, Inc. (UPLD) provides cloud-based enterprise work management software solutions across marketing, sales, and operations. The company faces ongoing revenue contraction, with FY2025 revenue falling 21.1% to $216.9M and a 5-year revenue CAGR of -5.8%. In addition, it carries net debt of $195.2M and negative shareholders' equity of -$89.8M as of June 30, 2026.
- Market cap
- $10.0M
- Revenue (TTM)
- $197.7M
- P/E
- — fwd 2.6x
- 1Y return
- -86.4% S&P 500 16.8%
- Avg. target
- $12.50 270.9% vs last close
Bull case
- Upland generated $24.4M in free cash flow and $25.8M in operating cash flow in FY2025.
- The stock trades at a forward P/E of 2.6x, which is below the US-listed Technology peer median of 18.8x.
- Wall Street analysts have a mean price target of $12.50, implying 270.9% upside from the recent close of $3.37.
Bear case
- Revenue fell 21.1% in FY2025 to $216.9M and continued to contract with a 7.9% year-over-year decline in the quarter ended June 30, 2026.
- The balance sheet carries substantial debt with net debt of $195.2M and negative shareholders' equity of -$89.8M.
- The stock has dropped 99.0% over the past 5 years and 86.4% over the past year.
What Upland Software does
Headquartered in Austin, Texas, Upland Software, Inc. delivers cloud-based enterprise work management software solutions to large corporations, government agencies, and small to medium-sized businesses. Originally founded in 2010 as Silverback Enterprise Group, Inc. and rebranded in November 2013, the company offers applications spanning marketing, sales, contact center operations, project management, IT, business operations, human resources, and legal services. Upland serves clients in financial services, consulting, healthcare, retail, and manufacturing through direct and indirect sales channels. The company also provides professional services, including implementation, data extraction, integration, configuration, training, and ongoing technical support.
Growth and profitability
Upland's revenue rose to $317.3M in FY2022 before retreating to $297.9M in FY2023, $274.8M in FY2024, and $216.9M in FY2025, representing a 5-year CAGR of -5.8%. Operating margin improved to 7.7% in FY2025 from -37.2% in FY2024 and -55.0% in FY2023. Net losses persisted over the period, ending at -$38.9M in FY2025 compared to -$112.7M in FY2024. For the latest quarter ended June 30, 2026, quarterly revenue fell 7.9% year-over-year. Trailing twelve-month revenue stood at $197.7M, accompanied by an operating margin of 11.3% and a net profit margin of -18.5%.
Balance sheet and cash flow
As of June 30, 2026, Upland held $31.0M in cash and short-term investments against total debt of $226.3M, resulting in net debt of $195.2M. The company had a current ratio of 0.87 and negative shareholders' equity of -$89.8M on total assets of $356.6M. Operating cash flow for FY2025 was $25.8M and free cash flow was $24.4M. Capital expenditures totaled $1.4M during FY2025, alongside $137,000 deployed toward share buybacks.
Valuation and performance
UPLD has a market capitalization of $10.0M and an enterprise value of $338.6M. The stock trades at a forward P/E of 2.6x, compared to a median of 18.8x for its US-listed Technology peers. Its price-to-sales ratio is 0.1x against the peer median of 2.8x, while its EV/EBITDA of 26.9x trades above the peer median of 16.6x. Over the past year, UPLD shares declined 86.4%, while the S&P 500 gained 16.8%. Over a 5-year span, the stock fell 99.0% compared to an 83.0% gain for the benchmark.
What analysts expect
Wall Street analysts hold 1 Strong Buy and 1 Buy rating on UPLD, with no Hold, Sell, or Strong Sell ratings. The mean price target is $12.50, which stands 270.9% above the last close of $3.37. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $6.67 and revenue of $193.1M. For the following fiscal year, 2 analysts project revenue of $194.2M and EPS of $6.33. Upland beat EPS estimates in 3 of the last 4 quarters, with the next earnings release scheduled for November 5, 2026.
Key risks and what to watch
- Liquidity is tight, indicated by a current ratio of 0.87 and only $31.0M in cash against $226.3M in debt.
- The company has ongoing profitability challenges, posting a net loss of -$38.9M in FY2025 and a TTM EPS of -$14.42.
- Forecasted revenue of $193.1M for FY2026 signals a continued reduction from $216.9M in FY2025.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this UPLD AI stock analysis
This page is an AI-written research summary of Upland Software, Inc. (UPLD). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: UPLD income statement, UPLD balance sheet, UPLD key metrics, UPLD analyst forecast, UPLD chart. See the UPLD stock overview for the latest quote and news.
UPLD AI stock analysis FAQ
Does Upland Software pay a dividend?
No, Upland Software does not pay a dividend. Capital allocation has focused on operations, debt, and modest capital expenditures of $1.4M in FY2025.
What is Upland Software's current debt level?
As of June 30, 2026, Upland had $226.3M in total debt and $31.0M in cash, resulting in net debt of $195.2M. The company also reported negative shareholders' equity of -$89.8M.
What do analysts project for UPLD's future financial results?
Analysts project revenue of $193.1M and EPS of $6.67 for the fiscal year ending December 31, 2026. For the next fiscal year, expectations are for $194.2M in revenue and EPS of $6.33.
When is Upland Software's next earnings report?
Upland Software is scheduled to report its quarterly earnings on November 5, 2026. The company has beaten EPS expectations in 3 of the trailing 4 quarters.