Upland Software, Inc. Earnings Recaps
Q3 2025
Nov 8, 2025
Upland Software exceeded revenue and adjusted EBITDA guidance in Q3 2025, backed by strong organic growth and new customer acquisitions, while achieving significant improvements in debt management and liquidity.
Key takeaways
- Q3 revenue outperformed guidance midpoint, with adjusted EBITDA of $16 million and a margin of 32%.
- Core organic growth rate reached 3%, supported by the addition of 97 new customers, including 14 major wins.
- Successfully refinanced debt, extending maturity to July 2031 and reducing net debt leverage to 3.8x.
- Positive product developments included new AI features and significant contracts with notable Fortune 100 and global pharmaceutical companies.
- Free cash flow generation of $6.7 million positions the company for continued balance sheet strength and future deleveraging.