Upland Software, Inc. reported a total revenue of $48.7 million for the first quarter of 2026, a decline of 24% compared to $63.7 million in the same period of 2025. This decrease was primarily attributed to expected declines in revenue from divested product lines, which accounted for approximately $14 million, and a reduction of $0.5 million from Sunset Assets. Subscription and support revenue saw a slight increase of $0.1 million, while professional services revenue decreased by 30% to $1.3 million. The company recorded a net loss of $1.2 million, significantly improved from a net loss of $25.8 million in the prior year, resulting in a net loss per share of $0.09 compared to $0.97.
In terms of operational efficiency, Upland Software managed to reduce its total cost of revenue by 34% to $11.9 million, leading to a gross profit of $36.8 million, which represents a gross margin of 75%. Operating expenses also decreased by 32% to $31.7 million, driven by reductions in sales and marketing, research and development, and general and administrative expenses. The company reported an income from operations of $5.0 million, a notable turnaround from an operating loss of $1.1 million in the previous year.
Upland Software's customer base remains strong, with over 1,100 enterprise customers utilizing its AI-powered knowledge and content management solutions. The company continues to focus on enhancing its product offerings and has not executed any divestitures in the first quarter of 2026, following significant divestitures in 2025. The company’s cash and cash equivalents, along with restricted cash, totaled $30.4 million as of March 31, 2026, reflecting a slight increase from $30.0 million at the end of 2025.
Looking ahead, Upland Software aims to leverage its existing customer relationships and expand its market presence. The company is actively monitoring its stock price to ensure compliance with Nasdaq listing requirements, as it received a deficiency notice regarding its stock price falling below the minimum required level. Upland Software plans to explore various options to regain compliance within the stipulated timeframe. The company remains committed to its strategic initiatives and expects to continue improving its financial performance in the upcoming quarters.
About Upland Software, Inc.
Upland Software provides cloud-based enterprise applications across knowledge management, content automation, and digital marketing. Its solutions enhance internal information sharing, content workflows, and customer engagement for diverse industries worldwide. The company emphasizes subscription revenue, customer success, and continuous innovation, leveraging AI and cloud technology to deliver scalable, secure, and easy-to-deploy software that supports operational efficiency and digital transformation.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.