Upland Software, Inc. (UPLD) Income Statement
UPLD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsUPLD revenue and net income
Where UPLD's revenue goes
2025Each bar shows an amount and its share of revenue. UPLD kept −17.9% of revenue as net income.
UPLD profit margins
UPLD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −21.1% | −11.9% | −5.8% | +12.0% |
| Gross profit | −30.2% | −14.1% | −6.9% | +12.1% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −16.3% | −22.2% | −11.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
UPLD quarterly EPS vs estimates
Upland Software beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.60).
UPLD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $216.9M | $274.8M | $297.9M | $317.3M | $302.0M | $291.8M | $222.6M | $149.9M | $98.0M | $74.8M |
| Cost of revenue | $81.6M | $81.1M | $96.4M | $103.7M | $99.5M | $98.4M | $69.1M | $48.6M | $33.6M | $27.6M |
| Gross profit | $135.3M | $193.7M | $201.5M | $213.6M | $202.6M | $193.3M | $153.5M | $101.3M | $64.3M | $47.2M |
| Research & development | $36.5M | $47.4M | $49.4M | $46.2M | $42.7M | $39.0M | $29.0M | $21.3M | $15.8M | $14.9M |
| Sales, general & admin | $82.1M | $115.8M | $125.6M | $129.9M | $132.0M | $114.1M | $83.2M | $53.0M | $38.6M | $30.4M |
| Total operating expenses | $118.6M | $296.0M | $365.4M | $253.8M | $237.2M | $217.1M | $177.8M | $88.2M | $60.3M | $50.1M |
| Operating income | $16.6M | −$102.3M | −$163.9M | −$40.2M | −$34.7M | −$23.8M | −$24.3M | −$4.7M | −$11.1M | −$8.5M |
| Interest income | — | — | — | — | — | — | $22.3M | $13.3M | $6.6M | $2.8M |
| Interest expense | $15.8M | $8.9M | $18.7M | $29.1M | $31.6M | $31.5M | $22.3M | $13.3M | $6.6M | $2.8M |
| Income before taxes | −$38.7M | −$110.1M | −$182.4M | −$70.2M | −$66.6M | −$55.5M | −$52.2M | −$19.8M | −$17.4M | −$12.0M |
| Income taxes | $232,000 | $2.6M | −$2.5M | −$1.7M | −$8.3M | −$4.2M | −$6.8M | −$9.8M | $1.3M | $1.5M |
| Net income | −$38.9M | −$112.7M | −$179.9M | −$68.4M | −$58.2M | −$51.2M | −$45.4M | −$9.9M | −$18.7M | −$13.5M |
| EBITDA | $9.2M | −$46.2M | −$91.7M | $15.1M | $18.0M | $23.2M | $4.8M | $13.6M | $525,000 | −$21,000 |
| EPS (diluted) | $7.04 | $8.41 | $9.04 | $14.97 | $16.40 | $12.83 | $24.80 | $11.68 | $6.97 | $1.22 |
| Gross margin | 62.4% | 70.5% | 67.6% | 67.3% | 67.1% | 66.3% | 69.0% | 67.6% | 65.6% | 63.1% |
| Operating margin | 7.7% | −37.2% | −55.0% | −12.7% | −11.5% | −8.2% | −10.9% | −3.1% | −11.4% | −11.4% |
| Net margin | −17.9% | −41.0% | −60.4% | −21.6% | −19.3% | −17.6% | −20.4% | −6.6% | −19.1% | −18.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.1M | $48.7M | $49.3M | $50.5M | $53.4M | $63.7M | $68.0M | $66.7M | $69.3M | $70.7M | $72.2M | $74.1M |
| Cost of revenue | $11.7M | $11.9M | $11.6M | $11.7M | $13.4M | $18.0M | $19.9M | $19.7M | $31.9M | $21.0M | $23.7M | $22.9M |
| Gross profit | $37.5M | $36.8M | $37.7M | $38.8M | $39.9M | $45.6M | $48.2M | $47.0M | $37.5M | $49.7M | $48.5M | $51.2M |
| Research & development | $7.8M | $8.0M | $7.3M | $7.9M | $9.8M | $11.5M | $11.3M | $11.4M | $12.2M | $12.5M | $11.7M | $12.7M |
| Sales, general & admin | $18.6M | $18.0M | $17.3M | $18.5M | $21.0M | $25.4M | $27.5M | $27.4M | $30.7M | $30.2M | $31.3M | $31.5M |
| Total operating expenses | $67.2M | $31.7M | $30.5M | $33.5M | $47.0M | $46.7M | $50.1M | $50.3M | $42.9M | $141.3M | $57.9M | $58.9M |
| Operating income | −$29.7M | $5.0M | $7.2M | $5.3M | −$7.0M | −$1.1M | −$2.0M | −$3.3M | −$5.4M | −$91.6M | −$9.4M | −$7.7M |
| Interest income | — | — | — | — | — | — | — | $2.3M | — | — | — | — |
| Interest expense | $4.5M | $4.5M | $5.0M | $4.2M | $2.9M | $2.4M | $1.3M | $2.3M | $5.1M | $5.0M | $5.3M | $2.5M |
| Income before taxes | −$34.5M | −$244,000 | $3.1M | −$1.4M | −$13.2M | −$27.2M | −$2.0M | −$1.2M | −$10.2M | −$96.7M | −$15.4M | −$10.1M |
| Income taxes | $841,000 | $986,000 | $2.0M | −$259,000 | −$171,000 | −$1.3M | $1.4M | $530,000 | $1.2M | −$547,000 | $633,000 | −$1.5M |
| Net income | −$35.3M | −$1.2M | $1.1M | −$1.1M | −$13.0M | −$25.8M | −$3.4M | −$1.7M | −$11.4M | −$96.1M | −$16.0M | −$8.7M |
| EBITDA | −$23.5M | $11.6M | $14.9M | $10.4M | −$909,000 | −$15.1M | $12.9M | $12.6M | $8.6M | −$77.9M | $7.5M | $10.1M |
| EPS (diluted) | $1.45 | $1.60 | $0.24 | $3.00 | $1.50 | $2.30 | $0.41 | $4.20 | $1.90 | $1.90 | $0.14 | $3.30 |
| Gross margin | 76.3% | 75.5% | 76.5% | 76.9% | 74.8% | 71.6% | 70.8% | 70.5% | 54.1% | 70.2% | 67.2% | 69.1% |
| Operating margin | −60.4% | 10.4% | 14.5% | 10.6% | −13.2% | −1.7% | −2.9% | −5.0% | −7.7% | −129.6% | −13.0% | −10.4% |
| Net margin | −71.9% | −2.5% | 2.2% | −2.2% | −24.4% | −40.6% | −5.0% | −2.6% | −16.5% | −135.9% | −22.2% | −11.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in UPLD's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
UPLD financial results
In fiscal year 2025 (ended December 31, 2025), Upland Software reported revenue of $216.9 million, down 21.1% from the year before. It had a net loss of $38.9 million, a net profit margin of −17.9%. Diluted earnings per share came to $7.04. Over five years revenue grew at an average rate of −5.8% a year.
See the UPLD stock overview for the latest quote and news, or the UPLD chart for price history and technical indicators.
UPLD income statement FAQ
What is Upland Software's annual revenue?
Upland Software reported total revenue of $216.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 21.1% from $274.8 million the previous year.
Is Upland Software profitable?
No. Upland Software reported a net loss of $38.9 million in fiscal 2025, a net profit margin of −17.9%; its operating margin was 7.7%.
What is Upland Software's gross margin?
Upland Software's gross margin was 62.4% in fiscal 2025: for every $100 of revenue, Upland Software kept $62 after the direct cost of its products and services.
How much does Upland Software spend on research and development?
Upland Software spent $36.5 million on research and development in fiscal 2025, 16.8% of revenue.
How fast is Upland Software growing?
Revenue grew −5.8% a year on average over the last five fiscal years, from $291.8 million to $216.9 million.
What are Upland Software's earnings per share?
Upland Software earned $7.04 per diluted share in fiscal 2025, compared with $8.41 a year earlier.
When will Upland Software report its next earnings?
Upland Software is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Upland Software's fiscal year end?
Upland Software's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.