Filing Flows › Upland Software (UPLD) › Q1 2026
Upland Software (UPLD) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Upland Software (UPLD) reported revenue of $48.7M for the first quarter 2026 (Q1 2026), -24% from a year earlier and -1% from the quarter before. Operating margin was 10.4%, net loss $1.2M (2.5% of revenue).
Upland Software, Q1 2026: revenue $48.7M (-24% year over year), operating margin 10.4%, net loss $1.2M, operating cash flow $5.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.7M | -1% | -24% |
| Operating profit | $5.0M | -30% | — |
| Net earnings | −$1.2M | -212% | — |
| Operating cash flow | $5.6M | -23% | -33% |
| Free cash flow | $5.5M | — | -30% |
What changed
Revenue was $48.7M in Q1 2026, down 24% year over year and down 1% from the previous quarter. Subscription and Support was the largest line at 95% of revenue. Subscription and Support lost $14.1M year over year (down 23%), 94% of the total change.
Gross margin was 75.5%, up 3.8 points from Q1 2025. Operating profit was $5.0M, a 10.4% margin (up 12.0 points year over year). Operating expenses fell 32% while revenue fell 24%. The quarter ended with a net loss of $1.2M, after a profit of $1.1M the previous quarter. Net interest and other expense of $5.3M was the main reason.
Operating cash flow was $5.6M (down 33% year over year). Non-cash charges added back $6.6M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $752K. After purchase of property and equipment ($81K), free cash flow as the company reports it was $5.5M.
Questions
What was Upland Software's revenue in the first quarter 2026?
Upland Software (UPLD) reported revenue of $48.7M for the first quarter 2026 (Q1 2026), -24% from a year earlier and -1% from the quarter before.
Was Upland Software profitable in the first quarter 2026?
Operating profit was $5.0M (10.4% of revenue) and net loss $1.2M.
Source: Upland Software 10-Q on SEC EDGAR.