Filing Flows › Upland Software (UPLD) › Q3 2025
Upland Software (UPLD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Upland Software (UPLD) reported revenue of $50.5M for the third quarter 2025 (Q3 2025), -24% from a year earlier and -5% from the quarter before. Operating margin was 10.6%, net loss $1.1M (2.2% of revenue).
Upland Software, Q3 2025: revenue $50.5M (-24% year over year), operating margin 10.6%, net loss $1.1M, operating cash flow $6.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.5M | -5% | -24% |
| Operating profit | $5.3M | — | — |
| Net earnings | −$1.1M | — | — |
| Operating cash flow | $6.9M | +109% | +60% |
| Free cash flow | $6.7M | — | +59% |
What changed
Revenue was $50.5M in Q3 2025, down 24% year over year and down 5% from the previous quarter. Subscription and Support was the largest line at 94% of revenue. Subscription and Support lost $16.0M year over year (down 25%), 99% of the total change.
Gross margin was 76.9%, up 6.4 points from a year earlier. Operating profit was $5.3M, a 10.6% margin (up 15.5 points year over year). Operating expenses fell 33% while revenue fell 24%. The quarter ended with a net loss of $1.1M, narrower than the previous quarter's $13.0M loss. Net interest and other expense of $6.7M was the main reason.
Operating cash flow was $6.9M (up 60% year over year). Non-cash charges added back $7.6M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $1.9M. After purchase of property and equipment ($207K), free cash flow as the company reports it was $6.7M.
Questions
What was Upland Software's revenue in the third quarter 2025?
Upland Software (UPLD) reported revenue of $50.5M for the third quarter 2025 (Q3 2025), -24% from a year earlier and -5% from the quarter before.
Was Upland Software profitable in the third quarter 2025?
Operating profit was $5.3M (10.6% of revenue) and net loss $1.1M.
Source: Upland Software 10-Q on SEC EDGAR.