Upland Software, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 4, 2026, reporting a net loss of $451 thousand for the third quarter and a nine-month net loss of $36.999 million.

Key Highlights

  • Total revenue: $47.525 million for Q3 2026, down from $50.526 million in Q3 2025, according to the filing.
  • Net loss: $451 thousand for the three months ended September 30, 2026, compared to a net loss of $1.122 million in the same period of 2025.
  • Goodwill impairment: $35.246 million in impairment of goodwill and other intangibles recorded in the nine months ended September 30, 2026.
  • Loss per share: Net loss per common share, basic and diluted, was $0.67 for Q3 2026 and $14.15 for the nine months ended September 30, 2026.
  • Total assets: $352.091 million as of September 30, 2026, down from $413.177 million as of December 31, 2025.
  • Shares outstanding: 2,838,697 shares of common stock outstanding as of November 2, 2026.
  • Accumulated deficit: $677.507 million as of September 30, 2026, compared to $640.508 million at December 31, 2025.

Upland Software Q3 2026 Financial Results and Balance Sheet Position

According to the filing, Upland Software (NASDAQ:UPLD) reported total revenue of $47.525 million for the three months ended September 30, 2026, a decline from $50.526 million in the comparable prior-year quarter. Subscription and support revenue, the largest component, was $45.259 million in Q3 2026 versus $47.725 million in Q3 2025. Professional services revenue came in at $1.086 million, compared to $1.641 million a year earlier. Gross profit for the quarter was $36.006 million, against $38.849 million in Q3 2025.

The company reported income from operations of $5.333 million for Q3 2026, essentially flat with $5.348 million in Q3 2025. However, interest expense, net, increased to $5.083 million from $4.204 million in the prior-year quarter, contributing to a net loss of $451 thousand for the quarter. For the nine months ended September 30, 2026, the filing disclosed a loss from operations of $19.312 million, which included a $35.246 million charge for impairment of goodwill and other intangibles. The nine-month net loss totaled $36.999 million, compared to $39.999 million for the same period in 2025.

The condensed consolidated balance sheet as of September 30, 2026, showed total assets of $352.091 million and total liabilities of $310.017 million, resulting in a total stockholders' deficit of $91.566 million. Notes payable, less current maturities, stood at $216.921 million. The Series A Convertible Preferred Stock, with 115,000 shares issued and outstanding, carried a carrying value of $133.640 million. Cash and cash equivalents were $28.913 million, compared to $29.398 million at December 31, 2025. Goodwill decreased to $223.234 million from $259.631 million at year-end 2025, reflecting the impairment charge recorded during the period.

What Was Disclosed

Upland Software's 10-Q for Q3 2026 disclosed quarterly revenue of $47.525 million, a net loss of $451 thousand, a nine-month goodwill and intangibles impairment of $35.246 million, and a total stockholders' deficit of $91.566 million as of September 30, 2026.