Filing Flows › Upland Software (UPLD) › Q3 2026 › vs Q3 2025
Upland Software (UPLD) Q3 2026 vs Q3 2025 (year over year)
Upland Software's revenue fell $3.0M (-6%) from $50.5M in Q3 2025 to $47.5M in Q3 2026. The biggest changes: Total product revenue −$2.4M (-5%); Professional Services −$555K (-34%).
Upland Software, Q3 2026: revenue $47.5M (-6% year over year), operating margin 11.2%, net loss $451K, operating cash flow $2.8M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 5.6% | 13.2% | -7.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Subscription and Support | $45.3M | $47.7M | −$2.5M | -5% |
| Perpetual License | $1.2M | $1.2M | $20K | +2% |
| Total product revenue | $46.4M | $48.9M | −$2.4M | -5% |
| Professional Services | $1.1M | $1.6M | −$555K | -34% |
| Revenue | $47.5M | $50.5M | −$3.0M | -6% |
| Net loss | $451K | $1.1M | −$671K | -60% |
| Costs & expenses | $48.0M | $51.9M | −$3.9M | -8% |
| Operating costs | $42.2M | $45.2M | −$3.0M | -7% |
| Interest & other, net | $4.9M | $6.7M | −$1.8M | -27% |
| Income tax | $855K | −$259K | $1.1M | — |
| Cost of revenue | $11.5M | $11.7M | −$158K | -1% |
| Research & development | $7.8M | $7.9M | −$91K | -1% |
| Sales & marketing | $9.0M | $9.7M | −$731K | -8% |
| General & admin | $8.4M | $8.8M | −$389K | -4% |
| Other operating costs | $5.5M | $7.1M | −$1.6M | -23% |
| Operating cash sources | $7.0M | $9.9M | −$2.9M | -29% |
| Depreciation & amortization | $6.3M | $7.6M | −$1.3M | -17% |
| Share-based compensation | $723K | $2.3M | −$1.6M | -69% |
| Net loss absorbed | $451K | $1.1M | −$671K | -60% |
| Working capital & other | $3.8M | $1.9M | $1.9M | +104% |
| Operating cash flow | $2.8M | $6.9M | −$4.1M | -60% |
| Free Cash Flow (company-reported) | $2.7M | $6.7M | −$4.0M | -60% |
| Purchase of property and equipment | $110K | $207K | −$97K | -47% |
Questions
How much did Upland Software's revenue grow year over year in Q3 2026?
Upland Software's revenue fell $3.0M (-6%) from $50.5M in Q3 2025 to $47.5M in Q3 2026.
What drove Upland Software's revenue change in Q3 2026?
Total product revenue −$2.4M (-5%); Professional Services −$555K (-34%).