Upland Software announced its financial and operating results for the second quarter of 2025, reporting total revenue of $53.38 million. This represents a 23% decrease year-over-year, primarily due to divestitures aimed at streamlining the business. Subscription and support revenue was $50.0 million, also down 23% from Q2 2024.
The company reported a return to positive core organic growth and a 500 basis point year-over-year increase in Adjusted EBITDA margin, from 20% to 25%. Adjusted EBITDA for the quarter was $13.6 million. Net loss for the quarter was $13.0 million, or 51 cents per share.
Upland provided guidance for Q3 2025, expecting total revenue between $46.8 million and $52.8 million, and Adjusted EBITDA between $14.5 million and $17.5 million, implying a 32% margin at the midpoint. Full-year 2025 Adjusted EBITDA guidance is set between $55.8 million and $61.8 million, for a 27% margin.
The company also announced the successful completion of a debt refinancing following the quarter end, extending its debt maturity to July 2031. This transaction included a $18 million principal paydown and the establishment of a new revolving credit facility, strengthening the balance sheet and enhancing liquidity.
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