Upland Software Inc
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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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.
FY2024 · Filed Mar 12, 2025
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, | ||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net loss | $(112,732) | $(179,874) | $(68,413) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 54,986 | 71,985 | 56,146 |
| Change in fair value of liabilities due to sellers of businesses | — | — | (75) |
| Deferred income taxes | (3,658) | (4,209) | (7,075) |
| Amortization of deferred costs | 12,150 | 13,170 | 12,198 |
| Foreign currency re-measurement loss | (999) | (538) | (12) |
| Non-cash interest, net and other income, net | (11,978) | (2,976) | 2,256 |
| Non-cash stock-based compensation expense | 15,270 | 22,874 | 41,602 |
| Non-cash loss on impairment of goodwill | 87,227 | 128,755 | 12,500 |
| Non-cash loss on retirement of fixed assets | 17 | 47 | 79 |
| Changes in operating assets and liabilities, net of purchase business combinations: | |||
| Accounts receivable | (328) | 8,916 | 9,691 |
| Prepaid expenses and other current assets | 74 | (471) | 10,070 |
| Interest rate swaps and other assets | (10,089) | 10,866 | (12,811) |
| Accounts payable | 1,344 | (6,896) | (7,175) |
| Accrued expenses and other liabilities | (556) | (6,188) | (14,013) |
| Deferred revenue | (6,489) | (5,518) | (4,989) |
| Net cash provided by operating activities | 24,239 | 49,943 | 29,979 |
| Investing activities | |||
| Purchase of property and equipment | (882) | (1,220) | (866) |
| Purchase business combinations, net of cash acquired | — | — | (62,356) |
| Net cash used in investing activities | (882) | (1,220) | (63,222) |
| Financing activities | |||
| Payments of debt costs | (358) | (221) | (203) |
| Payments on notes payable | (188,400) | (40,400) | (5,400) |
| Stock repurchases and retirement | (10,958) | (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 | (2,591) | (1,091) | (1,576) |
| Issuance of common stock, net of issuance costs | — | 5 | 191 |
| Additional consideration paid to sellers of businesses | — | (5,617) | (9,306) |
| Net cash used in financing activities | (202,307) | (61,384) | 94,151 |
| Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | (557) | 567 | (1,413) |
| Change in cash, cash equivalents and restricted cash | (179,507) | (12,094) | 59,495 |
| Cash, cash equivalents and restricted cash, beginning of period | 236,559 | 248,653 | 189,158 |
| Cash, cash equivalents and restricted cash, end of period | $57,052 | $236,559 | $248,653 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest, net of interest rate swaps | $28,900 | $32,137 | $29,120 |
| Cash paid for taxes | $2,015 | $7,106 | $3,876 |
| Non-cash investing and financing activities: | |||
| Business combination consideration including holdbacks and earnouts | $— | $— | $8,126 |
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