Upland Software, Inc.
For the period ended Dec 31, 2025. Filed Mar 3, 2026.
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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.
FY2025 · Filed Mar 3, 2026
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, | ||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net loss | $(38,904) | $(112,732) | $(179,874) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 32,137 | 54,986 | 71,985 |
| Deferred income taxes | (5,283) | (3,658) | (4,209) |
| Amortization of deferred costs | 8,132 | 12,150 | 13,170 |
| Foreign currency re-measurement | (873) | (999) | (538) |
| Non-cash interest, net and other income, net | (2,931) | (11,978) | (2,976) |
| Non-cash stock-based compensation expense | 9,108 | 15,270 | 22,874 |
| Non-cash loss on impairment of goodwill and other intangibles | 2,469 | 87,227 | 128,755 |
| Non-cash loss on divestitures of businesses | 24,364 | — | — |
| Non-cash loss on retirement of fixed assets | 60 | 17 | 47 |
| Non-cash loss on debt extinguishment | 2,301 | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 5,393 | (328) | 8,916 |
| Prepaid expenses and other current assets | (854) | 74 | (471) |
| Other assets | (1,062) | (10,089) | 10,866 |
| Accounts payable | (5,719) | 1,344 | (6,896) |
| Accrued expenses and other liabilities | (926) | (556) | (6,188) |
| Deferred revenue | (1,612) | (6,489) | (5,518) |
| Net cash provided by operating activities | 25,800 | 24,239 | 49,943 |
| Investing activities | |||
| Purchase of property and equipment | (1,352) | (882) | (1,220) |
| Collections on note receivable | 339 | — | — |
| Proceeds from the divestitures of businesses, net of cash transferred | 9,813 | — | — |
| Net cash provided by (used in) investing activities | 8,800 | (882) | (1,220) |
| Financing activities | |||
| Proceeds from notes payable, net of debt discount | 234,600 | — | — |
| Payments on notes payable | (295,150) | (188,400) | (40,400) |
| Payments of debt issuance costs | (1,625) | (358) | (221) |
| Stock repurchases and retirement | (137) | (10,958) | (14,060) |
| Taxes paid related to net share settlement of equity awards | (1,134) | (2,591) | (1,091) |
| Issuance of common stock, net of issuance costs | — | — | 5 |
| Additional consideration paid to sellers of businesses | — | — | (5,617) |
| Net cash used in financing activities | (63,446) | (202,307) | (61,384) |
| Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 1,818 | (557) | 567 |
| Change in cash, cash equivalents and restricted cash | (27,028) | (179,507) | (12,094) |
| Cash, cash equivalents and restricted cash, beginning of period | 57,052 | 236,559 | 248,653 |
| Cash, cash equivalents and restricted cash, end of period | $30,024 | $57,052 | $236,559 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest, net of interest rate derivatives | $20,403 | $28,900 | $32,137 |
| Cash paid for taxes, net of refunds | $6,946 | $2,015 | $7,106 |
| Non-cash investing and financing activities: | |||
| Note receivable from divestiture of businesses, net of discount | $4,881 | $— | $— |
| Right-of-use assets obtained in exchange for lease obligations | $1,259 | $— | $— |
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