Filing Flows › Upland Software (UPLD) › Q1 2025
Upland Software (UPLD) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Upland Software (UPLD) reported revenue of $63.7M for the first quarter 2025 (Q1 2025), -10% from a year earlier and -6% from the quarter before. Operating margin was -1.7%, net loss $25.8M (40.6% of revenue).
Upland Software, Q1 2025: revenue $63.7M (-10% year over year), operating margin -1.7%, net loss $25.8M, operating cash flow $8.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $63.7M | -6% | -10% |
| Operating profit | −$1.1M | — | — |
| Net earnings | −$25.8M | — | — |
| Operating cash flow | $8.3M | -11% | +62% |
| Free cash flow | $7.9M | — | +60% |
What changed
Revenue was $63.7M in Q1 2025, down 10% year over year and down 6% from the previous quarter. Subscription and Support was the largest line at 95% of revenue. Subscription and Support lost $6.9M year over year (down 10%), 97% of the total change.
Gross margin was 71.6%, up 1.4 points from a year earlier. Operating costs exceeded revenue by $1.1M, an operating margin of -1.7%. Operating expenses fell 67% while revenue fell 10%. The quarter ended with a net loss of $25.8M, wider than the previous quarter's $3.4M loss. Net interest and other expense of $26.1M was the main reason.
Operating cash flow was $8.3M (up 62% year over year). Non-cash charges added back $9.7M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $21.8M. After purchase of property and equipment ($424K), free cash flow as the company reports it was $7.9M.
Questions
What was Upland Software's revenue in the first quarter 2025?
Upland Software (UPLD) reported revenue of $63.7M for the first quarter 2025 (Q1 2025), -10% from a year earlier and -6% from the quarter before.
Was Upland Software profitable in the first quarter 2025?
Operating loss was $1.1M (-1.7% of revenue) and net loss $25.8M.
Source: Upland Software 10-Q on SEC EDGAR.