Upland Software's Q3 revenue falls due to customer churn
UPLD•Upland Software's third-quarter revenue fell 6% year over year to $47.53 million, with the decline attributed partly to customer churn and 2025 divestitures. It forecast fourth-quarter revenue of $44.7 million to $47.7 million.
1. Quarterly results
Upland Software reported third-quarter revenue of $47.53 million, up slightly from the $47.24 million consensus estimate. Net loss was $451,000, adjusted EBITDA was $12.60 million, and cash provided by operating activities was $2.76 million.
2. Outlook and drivers
The company said the year-over-year revenue decline reflected customer churn in the third quarter and divestitures completed in 2025. It added 77 new customers and expanded relationships with 185 existing customers. Upland expects fourth-quarter revenue of $44.7 million to $47.7 million and adjusted EBITDA of $12.5 million to $14.0 million, and targets an adjusted EBITDA margin of about 35% in the first half of 2028.
