Upland Software | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 49.14 M

Revenue: As of FY2026 Q2, the actual value is USD 49.14 M, beating the estimate of USD 48.61 M.

EPS: As of FY2026 Q2, the actual value is USD -12.53.

EBIT: As of FY2026 Q2, the actual value is USD -29.69 M.

Second Quarter 2026 Financial Highlights

Total RevenueUpland Software, Inc. reported total revenue of $49.1 million for the second quarter of 2026, which is an 8% decrease from $53.4 million in the second quarter of 2025, primarily due to divestitures completed in 2025.

Subscription and Support RevenueSubscription and support revenue was $46.2 million, representing a 9% decrease from $50.5 million in the second quarter of 2025, also primarily attributed to divestitures completed in 2025.

GAAP Net LossThe GAAP net loss for the second quarter of 2026 was - $35.3 million, compared to a GAAP net loss of - $13.0 million in the second quarter of 2025, primarily due to a non-cash goodwill impairment recorded in June 2026.

Non-GAAP Net IncomeNon-GAAP net income increased by 18% to $6.6 million in the second quarter of 2026 from $5.6 million in the second quarter of 2025.

Adjusted EBITDAAdjusted EBITDA was $12.8 million, or 26% of total revenue, in the second quarter of 2026, compared to $13.6 million, or 25% of total revenue, in the second quarter of 2025.

GAAP Operating Cash FlowGAAP operating cash flow was $5.4 million, an increase from $3.3 million in the second quarter of 2025.

Free Cash FlowFree cash flow was $5.3 million, up from $2.7 million in the second quarter of 2025.

Cash on HandCash on hand as of the end of the second quarter of 2026 was $31.0 million.

Six Months Ended June 30, 2026 Financial Highlights

Total RevenueTotal revenue for the six months ended June 30, 2026, was $97,831 thousand, compared to $117,038 thousand for the same period in 2025.

Subscription and Support RevenueSubscription and support revenue was $92,243 thousand for the six months ended June 30, 2026, down from $110,649 thousand in the prior year period.

GAAP Net LossThe GAAP net loss was - $36,548 thousand for the six months ended June 30, 2026, compared to - $38,877 thousand for the same period in 2025.

Adjusted EBITDAAdjusted EBITDA was $25,490 thousand for the six months ended June 30, 2026, compared to $26,667 thousand for the same period in 2025.

Net Cash Provided by Operating ActivitiesNet cash provided by operating activities was $10,973 thousand for the six months ended June 30, 2026, compared to $11,594 thousand in the prior year period.

Free Cash FlowFree cash flow was $10,805 thousand for the six months ended June 30, 2026, up from $10,536 thousand in the prior year period.

Operational Metrics

Upland Software, Inc. welcomed 81 new customers in the second quarter, including 7 new major customers. The company also expanded relationships with 200 existing customers, 19 of which were major expansions.

Business Outlook

For the third quarter ending September 30, 2026, Upland Software, Inc. anticipates total revenue between $45.7 million and $48.7 million, with Adjusted EBITDA projected to be between $11.9 million and $13.4 million, targeting an Adjusted EBITDA margin of 27% at the midpoint. For the full year 2026, total revenue is expected to range from $190.1 million to $196.1 million, and Adjusted EBITDA is forecast between $49.8 million and $52.8 million, also with a 27% Adjusted EBITDA margin at the midpoint. The expected year-over-year revenue declines for both periods are primarily attributed to divestitures completed in 2025.