Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $74.8M | $98.0M | $150M | $223M | $292M | $302M | $317M | $298M | $275M | $217M |
| Revenue growth | — | 31.0% | 53.0% | 48.5% | 31.1% | 3.5% | 5.1% | -6.1% | -7.7% | -21.1% |
| Gross profit | $47.2M | $64.3M | $101M | $154M | $193M | $203M | $214M | $201M | $194M | $162M |
| Gross margin | 63.1% | 65.6% | 67.6% | 69.0% | 66.3% | 67.1% | 67.3% | 67.6% | 70.5% | 74.8% |
| Operating income | -$8.52M | -$11.1M | -$5.59M | -$24.3M | -$23.8M | -$34.7M | -$40.2M | -$164M | -$102M | $4.43M |
| Operating margin | -11.4% | -11.4% | -3.7% | -10.9% | -8.2% | -11.5% | -12.7% | -55.0% | -37.2% | 2.0% |
| Net income | -$13.5M | -$18.7M | -$10.8M | -$45.4M | -$51.2M | -$58.2M | -$68.4M | -$180M | -$113M | -$38.9M |
| Net margin | -18.1% | -19.1% | -7.2% | -20.4% | -17.6% | -19.3% | -21.6% | -60.4% | -41.0% | -17.9% |
| EPS (diluted) | -$0.82 | -$1.02 | -$0.54 | -$1.96 | -$1.92 | -$1.92 | -$2.23 | -$5.77 | -$4.26 | -$1.56 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.88M | $7.72M | $7.35M | $12.1M | $35.6M | $41.7M | $30.0M | $49.9M | $24.2M | $25.8M |
| Capital expenditures | $670K | $396K | $935K | $1.04M | $1.11M | $1.11M | $866K | $1.22M | $882K | $1.35M |
| Free cash flow | $3.21M | $7.32M | $6.41M | $11.0M | $34.5M | $40.6M | $29.1M | $48.7M | $23.4M | $24.4M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $28.8M | $22.3M | $16.7M | $175M | $250M | $189M | $249M | $237M | $56.4M | $29.4M |
| Total assets | $151M | $281M | $483M | $897M | $1.01B | $1.03B | $1.11B | $870M | $530M | $413M |
| Total liabilities | $91.6M | $190M | $396M | $684M | $705M | $713M | $692M | $626M | $425M | $332M |
| Long-term debt | $45.7M | $109M | $274M | $522M | $518M | $515M | $512M | $474M | $287M | $225M |
| Shareholders' equity | $59.0M | $91.4M | $87.3M | $213M | $307M | $316M | $309M | $126M | -$18.3M | -$48.4M |
| Retained earnings | -$62.4M | -$81.1M | -$85.7M | -$131M | -$182M | -$241M | -$309M | -$489M | -$602M | -$641M |
| Shares (wtd avg diluted) | 17.8M | 20.8M | 21.5M | 23.1M | 26.6M | 30.3M | 31.5M | 32.1M | 27.8M | 28.6M |
Every figure is extracted from Upland Software, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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