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Upland Software, Inc. key statistics and ratios

In fiscal 2025, Upland Software, Inc. had a net margin of -17.9%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−11.0%−22.3%−31.2%−19.5%−18.1%−19.1%−7.2%−20.4%−17.6%−19.3%−21.6%−60.4%−41.0%−17.9%−18.5%
Return on equity——−72.5%−20.8%−22.7%−24.9%−12.1%−30.2%−19.7%−18.7%−21.9%−82.7%———
Return on assets—−9.7%−17.5%−10.6%−9.9%−8.7%−2.8%−6.6%−5.4%−5.7%−6.4%−18.1%−16.1%−8.3%−9.5%
R&D as % of revenue23.3%25.1%40.5%22.6%20.0%16.1%14.0%13.0%13.4%14.1%14.6%16.6%17.2%16.8%15.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 4 checks passed · June 30, 2026
What it owns · $357m
Short-term assets $70mLonger-term assets $286m
What it owes, and who funded it · $314m
Short-term liabilities $80mLonger-term liabilities $234mShareholders' equity $-90m
  • Short-term assets cover short-term liabilities $70m of assets due within a year against $80m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $70m short-term assets against $234m of longer-dated liabilities.
  • More cash than debt $31m of cash against $220m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $25m of operating cash flow against $220m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Upland Software, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

45 /100

Weak moat

How hard Upland Software's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 10.1% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.6%, moving by 3.1 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -9.7%; its worst year was -52.1%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.9% of revenue.

  • Discipline 3 / 20

    The diluted share count rose 11.0% over five years; stock-based pay has been a median 9.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (60 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Upland Software, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Upland Software, Inc.