Upland Software Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $47.5 million, down 6% year over year
- ➤Adjusted EBITDA $12.6 million, or 27% of revenue, down from 32%
- ➤Term loan balance $225.4 million after $13.1 million year-to-date repayments
- ➤2026 revenue guidance midpoint $191.6 million, down 12% year over year
- ➤Targeting approximately 35% Adjusted EBITDA margin in first half of 2028
Expert Statements
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“Three months after laying out our plan in my shareholder letter, I’m pleased to report that we are executing on it.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“Our roadmap for this next chapter has three phases: Simplify and Delever, through early 2027; Stabilize and Expand, in 2027; and Grow, in 2028 and beyond, driven by new AI use cases.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“We have four operational pillars underpinning that plan, including protecting and deepening our customer relationships, winning new logos with emerging AI use cases, scaling our reach through channel partnerships, and expanding margins by reimagining how we operate with AI.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“As we work through the plan, we are targeting an adjusted EBITDA margin of approximately 35% in the first half of 2028.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“We have already made meaningful progress. We reorganized around three product groupings aligned to our customers, brought in Jennifer Simon as CFO, and added Carahsoft as a channel partner to bring our knowledge management solutions to the public sector.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“In the third quarter, we delivered revenue above the midpoint of our guidance, improved our adjusted EBITDA margin sequentially and continued to pay down debt.”
Sean Nathaniel, President and Chief Executive Officer of Upland Software
“With HGGC as a long-term sponsor and a healthy balance sheet, we have the foundation to see this plan through and turn our AI advantage into margin expansion and, ultimately, revenue growth.”
Q3 revenue reported above midpoint of guidance; company outlines three-phase plan targeting approximately 35% Adjusted EBITDA margin in the first half of 2028
Upland Software, Inc. (Nasdaq: UPLD), a leader in AI-powered knowledge and content management software, today announced its financial and operating results for the third quarter 2026, outlined its multi-year strategic plan, and issued guidance for its fourth quarter and full year of 2026.
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