Filing Flows › Upland Software (UPLD) › Q2 2025
Upland Software (UPLD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Upland Software (UPLD) reported revenue of $53.4M for the second quarter 2025 (Q2 2025), -23% from a year earlier and -16% from the quarter before. Operating margin was -13.2%, net loss $13.0M (24.4% of revenue).
Upland Software, Q2 2025: revenue $53.4M (-23% year over year), operating margin -13.2%, net loss $13.0M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $53.4M | -16% | -23% |
| Operating profit | −$7.0M | — | — |
| Net earnings | −$13.0M | — | — |
| Operating cash flow | $3.3M | -60% | -40% |
| Free cash flow | $2.7M | — | -49% |
What changed
Revenue was $53.4M in Q2 2025, down 23% year over year and down 16% from the previous quarter. Subscription and Support was the largest line at 95% of revenue. Subscription and Support lost $15.0M year over year (down 23%), 94% of the total change.
Gross margin was 74.8%, up 4.4 points from a year earlier. Operating costs exceeded revenue by $7.0M, an operating margin of -13.2%. Operating expenses fell 13% while revenue fell 23%. The fastest-growing cost line was Other operating costs (+42%). The quarter ended with a net loss of $13.0M, narrower than the previous quarter's $25.8M loss.
Operating cash flow was $3.3M (down 40% year over year). Non-cash charges added back $8.2M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $5.1M. After purchase of property and equipment ($634K), free cash flow as the company reports it was $2.7M.
Questions
What was Upland Software's revenue in the second quarter 2025?
Upland Software (UPLD) reported revenue of $53.4M for the second quarter 2025 (Q2 2025), -23% from a year earlier and -16% from the quarter before.
Was Upland Software profitable in the second quarter 2025?
Operating loss was $7.0M (-13.2% of revenue) and net loss $13.0M.
Source: Upland Software 10-Q on SEC EDGAR.