Upland Software Reports $49.1 Million Revenue and $35.3 Million Net Loss in Q2 2026

Upland Software, Inc. reported a total revenue of $49.1 million for the second quarter of 2026, a decrease of 8% compared to $53.4 million in the same period of 2025. The decline was primarily attributed to expected reductions in revenue from divested product lines and Sunset Assets, which accounted for a combined decrease of approximately $4.3 million. Subscription and support revenue fell to $46.2 million, down 9% year-over-year, while perpetual license revenue increased by 45% to $1.7 million. For the first half of 2026, total revenue was $97.8 million, reflecting a 16% decrease from $117.0 million in the prior year.

The company's net loss for the second quarter was $35.3 million, significantly higher than the $13.0 million loss reported in the same quarter of 2025. This increase was largely due to a goodwill impairment charge of $35.2 million, which arose from a decline in the company's stock price and other indicators of impairment. Operating expenses surged to $67.2 million, up from $47.0 million in the previous year, driven by higher costs associated with the impairment and a reduction in revenue. The net loss attributable to common stockholders for the quarter was $36.8 million, resulting in a net loss per share of $12.53.

Upland's operational metrics showed a decrease in customer engagement, with total customer counts remaining stable at over 1,100 enterprise clients. The company continues to focus on its core products while managing the transition from divested assets. The firm has also implemented a reverse stock split, effective June 17, 2026, aimed at improving its stock price and compliance with Nasdaq listing requirements. As of June 30, 2026, Upland had $31.7 million in cash and cash equivalents, a slight increase from $30.0 million at the end of 2025.

Looking ahead, Upland Software anticipates challenges in regaining compliance with Nasdaq's minimum market value requirement, as it received a notification of deficiency on July 31, 2026. The company has until January 27, 2027, to meet the requirement or face potential delisting. Upland plans to actively monitor its market value and explore options to enhance compliance. Despite the current financial pressures, the company remains focused on leveraging its AI capabilities to drive future growth and operational efficiency.