Upland Software, Inc. UPLD
Upland is a leader in AI-powered knowledge and content management software. Our solutions help enterprises unlock critical knowledge, automate content workflows, and drive measurable ROI in the following business functions:
•Knowledge Management. Upland provides Knowledge Management solutions designed to help organizations capture, organize, and distribute information to employees and customers. These solutions support internal knowledge sharing, customer self-service, and contact center operations by enabling access to accurate and up-to-date information. Features include AI-driven search, content recommendations, and workflow integrations aimed at improving information accessibility and operational efficiency.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $216.9M | $274.8M | $297.9M | $317.3M | $302.0M | $291.8M | $222.6M | $149.9M | $98.0M | $74.8M |
| Cost of revenue | $54.8M | $81.1M | $96.4M | $103.7M | $99.5M | $98.4M | $69.1M | $48.6M | $33.6M | $27.6M |
| Gross profit | $162.1M | $193.7M | $201.5M | $213.6M | $202.6M | $193.3M | $153.5M | $101.3M | $64.3M | $47.2M |
| R&D | $36.5M | $47.4M | $49.4M | $46.2M | $42.7M | $39.0M | $29.0M | $20.9M | $15.8M | $14.9M |
| SG&A | $38.0M | $49.5M | $61.3M | $70.5M | $76.9M | $68.1M | $48.1M | $32.0M | $23.3M | $18.3M |
| Total operating expenses | $157.7M | $296.0M | $365.4M | $253.8M | $237.2M | $217.1M | $177.8M | $106.9M | $75.4M | $55.7M |
| Operating income | $4.4M | -$102.3M | -$163.9M | -$40.2M | -$34.7M | -$23.8M | -$24.3M | -$5.6M | -$11.1M | -$8.5M |
| Interest expense | — | $8.9M | $18.7M | $29.1M | $31.6M | $31.5M | $22.3M | $13.3M | $6.6M | $2.8M |
| Pre-tax income | -$38.7M | -$110.1M | -$182.4M | -$70.2M | -$66.6M | -$55.5M | -$52.2M | -$20.6M | -$17.4M | -$12.0M |
| Income tax | $232.0K | $2.6M | $2.5M | $1.7M | $8.3M | $4.2M | $6.8M | $9.8M | $1.3M | $1.5M |
| Net income | $40.4M | $112.7M | $179.9M | -$68.4M | -$58.2M | -$51.2M | -$45.4M | -$10.8M | -$18.7M | -$13.5M |
| EPS, basic | -1.56 | -4.26 | -5.77 | -2.23 | -1.92 | -1.92 | -1.96 | — | — | — |
| EPS, diluted | -1.56 | -4.26 | -5.77 | -2.23 | -1.92 | -1.92 | -1.96 | -0.54 | -1.02 | -0.82 |
| Shares, diluted (wtd. avg.) | $28.6M | $27.8M | $32.1M | $31.5M | $30.3M | $26.6M | $23.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $29.4M | $56.4M | $236.6M | $248.7M | $189.2M | $250.0M | $175.0M | $16.7M | $22.3M | $28.8M |
| Receivables | $25.6M | $38.6M | $38.8M | $47.6M | $50.5M | $44.5M | $50.9M | $40.8M | $26.5M | $15.3M |
| Total current assets | $75.3M | $118.4M | $300.2M | $321.3M | $263.0M | $317.5M | $238.9M | $67.3M | $51.7M | $47.3M |
| Property, plant and equipment | $1.8M | $1.5M | $1.9M | $1.8M | $2.7M | $2.8M | $3.9M | $2.8M | $2.9M | $4.4M |
| Goodwill | $259.6M | $261.0M | $353.8M | $477.0M | $457.5M | $383.6M | $346.1M | $225.3M | $154.6M | $69.1M |
| Other intangibles | $62.3M | $123.9M | $182.3M | $248.9M | $279.9M | $280.0M | $282.7M | $179.6M | $70.0M | $28.5M |
| Total assets | $413.2M | $529.5M | $870.0M | $1.11B | $1.03B | $1.01B | $896.8M | $483.2M | $281.3M | $150.6M |
| Accounts payable | $2.1M | $9.4M | $8.1M | $14.9M | $20.4M | $5.4M | $5.9M | $3.5M | $3.9M | $1.3M |
| Short-term debt | $7.7M | $3.2M | $3.2M | $3.1M | $3.2M | $3.2M | $3.2M | $6.0M | $2.3M | $2.2M |
| Total current liabilities | $93.8M | $120.4M | $130.6M | $151.2M | $156.4M | $121.4M | $129.4M | $107.6M | $75.1M | $39.7M |
| Long-term debt | $224.7M | $287.0M | $473.5M | $511.8M | $515.2M | $518.4M | $521.9M | $273.7M | $108.8M | $45.7M |
| Total liabilities | $332.5M | $424.6M | $626.1M | $692.3M | $712.7M | $704.6M | $684.0M | $395.9M | $189.8M | $91.6M |
| Retained earnings | -$640.5M | -$601.6M | -$488.9M | -$309.0M | -$240.6M | -$182.4M | -$131.0M | -$85.7M | -$81.1M | -$62.4M |
| Total equity | -$48.4M | -$18.3M | $126.3M | $308.9M | $316.3M | $306.6M | $212.9M | $87.3M | $91.4M | $59.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $25.8M | $24.2M | $49.9M | $30.0M | $41.7M | $35.6M | $12.1M | $7.3M | $7.7M | $3.9M |
| Depreciation and amortisation | $32.1M | $55.0M | $72.0M | $56.1M | $52.9M | $47.2M | $34.6M | $21.3M | $11.9M | $9.8M |
| Stock-based compensation | $9.1M | $15.3M | $22.9M | $41.6M | $53.9M | $41.7M | $25.8M | $14.1M | $10.0M | $4.3M |
| Capital expenditure | $1.4M | $882.0K | $1.2M | $866.0K | $1.1M | $1.1M | $1.0M | $935.0K | $396.0K | $670.0K |
| Investing cash flow | $8.8M | -$882.0K | -$1.2M | -$63.2M | -$93.5M | -$69.0M | -$217.8M | -$161.7M | -$110.8M | -$13.2M |
| Financing cash flow | -$63.4M | -$202.3M | -$61.4M | $94.2M | -$8.2M | $107.9M | $363.8M | $149.9M | $96.2M | $19.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001505155-26-000022.
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