Upland Software, Inc. has released its financial results for the third quarter of 2026, highlighting a decrease in revenue while also outlining a strategic plan to improve profitability. The company aims to achieve a 35% adjusted EBITDA margin by the first half of 2028, driven by new AI use cases and a focus on customer relationships.

Upland Software, incorporated in Texas, operates within the services-prepackaged software sector, as indicated by its Standard Industrial Classification (SIC) code 7372. The company trades on the Nasdaq under the ticker symbol UPLD. Recent filings include a 10-Q and an 8-K, both submitted on November 4, 2026.

The 8-K filing reveals that on November 4, 2026, Upland Software announced its financial results for the quarter ending September 30, 2026. The company reported total revenue of $47.5 million, a decrease of 6% from $50.5 million in the same quarter last year. Subscription and support revenue also fell by 5%, totaling $45.3 million.

In terms of profitability, Upland reported a GAAP net loss of $0.5 million, an improvement from a loss of $1.1 million in the third quarter of 2025. Non-GAAP net income was $6.4 million, down 41% from $10.8 million year-over-year. Adjusted EBITDA was reported at $12.6 million, or 27% of total revenue, compared to 32% in the previous year.

Upland’s strategic plan consists of three phases: Simplify and Delever through early 2027, Stabilize and Expand in 2027, and Grow in 2028 and beyond. This plan is underpinned by four operational pillars: enhancing customer relationships, acquiring new customers through AI use cases, expanding through channel partnerships, and improving operational margins.

The filing indicates that the company has already made progress in its strategic initiatives, including reorganizing product groupings and adding new partnerships. Upland welcomed 77 new customers in the third quarter, including 10 major clients, and expanded relationships with 185 existing customers.

Looking ahead, Upland Software's focus on AI-driven solutions and strategic partnerships, such as with Carahsoft, positions the company to navigate the competitive landscape of the prepackaged software industry. The filing does not specify the next steps for Upland beyond this update.