Upland Software Reports First Quarter 2026 Financial Results

Upland Software announced its financial results for the first quarter of 2026. Total revenue was $48.7 million, a decrease of 24% from Q1 2025, mainly due to divestitures. Subscription and support revenue decreased by 23% to $46.1 million. The company reported a GAAP net loss of $1.2 million, an improvement from a $25.8 million net loss in Q1 2025. Adjusted EBITDA was $12.7 million (26% of revenue), slightly down from $13.1 million in Q1 2025. GAAP operating cash flow was $5.6 million, and free cash flow was $5.5 million. The company added 107 new customers and expanded relationships with 189 existing ones. Upland launched new AI features, including AI Conversational Search for Panviva Sidekick and Upland Second Street’s Text-to-Vote. For Q2 2026, Upland expects total revenue between $47.1-$50.1 million and Adjusted EBITDA of $12.0-$13.6 million. For the full year 2026, total revenue is projected to be $192.5-$201.5 million, with Adjusted EBITDA of $51.7-$56.3 million. These outlooks reflect a continued year-over-year revenue decline primarily due to prior-year divestitures.