Upland Software Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 22, 2024
UPLD$3.78-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| (in thousands) | Year Ended December 31, | ||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(179,874) | $(68,413) | $(58,212) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 71,985 | 56,146 | 52,928 |
| Change in fair value of liabilities due to sellers of businesses | — | (75) | (4,510) |
| Deferred income taxes | (4,209) | (7,075) | (11,179) |
| Amortization of deferred costs | 13,170 | 12,198 | 8,948 |
| Foreign currency re-measurement loss | (538) | (12) | 25 |
| Non-cash interest, net and other income, net | (2,976) | 2,256 | 2,249 |
| Non-cash stock-based compensation expense | 22,874 | 41,602 | 53,873 |
| Non-cash loss on impairment of goodwill | 128,755 | 12,500 | — |
| Non-cash loss on retirement of fixed assets | 47 | 79 | — |
| Changes in operating assets and liabilities, net of purchase business combinations: | |||
| Accounts receivable | 8,916 | 9,691 | (1,665) |
| Prepaid expenses and other current assets | (471) | 10,070 | 5,761 |
| Other assets | 10,866 | (12,811) | (13,260) |
| Accounts payable | (6,896) | (7,175) | 10,865 |
| Accrued expenses and other liabilities | (6,188) | (14,013) | (9,660) |
| Deferred revenue | (5,518) | (4,989) | 5,575 |
| Net cash provided by operating activities | 49,943 | 29,979 | 41,738 |
| Investing activities | |||
| Purchase of property and equipment | (1,220) | (866) | (1,115) |
| Purchase business combinations, net of cash acquired | — | (62,356) | (92,417) |
| Net cash used in investing activities | (1,220) | (63,222) | (93,532) |
| Financing activities | |||
| Payments on finance leases | — | — | (12) |
| Payments of debt costs | (221) | (203) | (122) |
| Payments on notes payable | (40,400) | (5,400) | (5,400) |
| Stock repurchases and retirement | (14,060) | — | — |
| Issuance of Series A Convertible Preferred stock, net of issuance costs | — | 110,445 | — |
| Taxes paid related to net share settlement of equity awards | (1,091) | (1,576) | (982) |
| Issuance of common stock, net of issuance costs | 5 | 191 | 274 |
| Additional consideration paid to sellers of businesses | (5,617) | (9,306) | (1,938) |
| Net cash provided by (used in) financing activities | (61,384) | 94,151 | (8,180) |
| Effect of exchange rate fluctuations on cash | 567 | (1,413) | (897) |
| Change in cash and cash equivalents | (12,094) | 59,495 | (60,871) |
| Cash and cash equivalents, beginning of period | 248,653 | 189,158 | 250,029 |
| Cash and cash equivalents, end of period | $236,559 | $248,653 | $189,158 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest, net of interest rate swaps | $32,137 | $29,120 | $29,427 |
| Cash paid for taxes | $7,106 | $3,876 | $2,846 |
| Non-cash investing and financing activities: | |||
| Business combination consideration including holdbacks and earnouts | $— | $8,126 | $11,670 |
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