The lowered full-year guidance and continued revenue contraction signal structural headwinds from divestitures and organic stagnation. Monitor for further asset sales, debt reduction progress, and whether non-GAAP profitability can sustain as the top line shrinks. The $35M goodwill impairment suggests impaired acquisition value, raising risk of further write-downs.
Price Chart
Executive Summary
Upland Software reported Q2 2026 revenue of $49.1M (-8% YoY) and a GAAP net loss of $35.3M, including a $35.2M non-cash goodwill impairment. Non-GAAP diluted EPS of $1.78 improved 18% YoY, but the company lowered full-year 2026 revenue guidance to $190.1-196.1M (down 11% at the midpoint from 2025), indicating continued headwinds from divestitures and organic pressure.
Key Financial Metrics
Key Facts
- Total revenue $49.1M, down 8% YoY from $53.4M
- Subscription & support revenue $46.2M, down 9% YoY
- GAAP net loss $35.3M vs $13.0M loss in Q2 2025, driven by $35.2M goodwill impairment
- Non-GAAP net income $6.6M, up 18% YoY from $5.6M
- Adjusted EBITDA $12.8M (26% margin) vs $13.6M (25% margin) in Q2 2025
- Operating cash flow $5.4M; free cash flow $5.3M
- Cash on hand $31.0M
- Full-year 2026 guidance lowered: revenue $190.1-196.1M (midpoint down 11% YoY)
- Q3 2026 revenue guidance $45.7-48.7M (down 7% YoY at midpoint)
Financial Impact
Revenue declined 8% YoY; full-year guidance reduced by ~$5M at midpoint vs prior outlook; GAAP net loss widened by $22.3M due to impairment
Risk Factors
- Further revenue decline from divestitures and sunset asset plans
- Additional goodwill or intangible impairments if organic growth does not materialize
- High debt load ($223.8M net notes payable) relative to $18M market cap
- Preferred stock dividend obligation ($1.5M/quarter) consumes cash
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001505155-26-000068 |
| Document: upld-20260814.htm | 0001505155-26-000068 |
| Document: 0001505155-26-000068-index-headers.html | 0001505155-26-000068 |
| Document: 0001505155-26-000068-index.html | 0001505155-26-000068 |
| Document: 0001505155-26-000068.txt | 0001505155-26-000068 |
| 8-K Data (Synthetic) | 0001505155-26-000068 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 10w ago | 8-K | $5.35 $4.72 | ▲ +11.78% | ▲ +11.30% | $3.94 (+26.36%) |
Jul 21, 2026 13w ago | 8-K | $4.35 $4.23 | ▼ −2.76% | ▼ −1.52% | $3.94 (−9.43%) |
Jul 21, 2026 14w ago | Court Ruling | $4.35 $4.23 | ▲ +2.76% | ▲ +1.52% | $3.94 (+9.43%) |
Jun 4, 2026 20w ago | 8-K | $7.70 $7.07 | ▲ +8.18% | ▲ +5.60% | $3.94 (+48.83%) |
Apr 20, 2026 27w ago | DEFA14A | $6.59 $6.48 | ▼ −1.67% | ▼ −1.01% | $3.94 (−40.21%) |
Apr 10, 2026 28w ago | 8-K | $6.47 $5.76 | ▲ +10.97% | ▲ +11.95% | $3.94 (+39.10%) |
Feb 25, 2026 34w ago | 8-K | $0.9170 $0.8830 | ▼ −3.71% | ▼ −3.26% | $3.94 (+329.66%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers