Upland Software, Inc. (UPLD) · Nov 4, 2026 · Earnings

Upland Software earnings beat revenue estimates, but churn cuts outlook

In line — Total revenue $47.5M vs ~$47.2M consensus

Upland Software earnings slightly beat revenue expectations, but recurring revenue fell and customer churn drove a weaker full-year outlook.

Upland is in the early execution phase of a turnaround: reorganizing around AI-powered knowledge and content products, cutting costs, and using cash flow to reduce a still-heavy debt load. Its July strategy called for “Simplify and Delever” through early 2027 before stabilization and growth, with more than 1,100 enterprise customers as the installed-base opportunity.

The quarter was roughly in line, not a clean beat. Total revenue of $47.5 million was just above the published consensus of about $47.2 million, while the company said revenue came in above the midpoint of its own prior range. But subscription and support revenue fell 5.2% year over year, and adjusted EBITDA dropped 21% to $12.6 million. The modest top-line beat therefore does little to change the underlying picture: Upland is still shrinking while it tries to reposition around AI. 〔0〕

Metric	Q3 2026	Q3 2025	Consensus / prior guide
Total revenue (Financial Statements)	$47.5M (+0.6%)	$50.5M	~$47.2M consensus
Subscription and support revenue (Financial Statements)	$45.3M (-5.2%)	$47.7M	$43.7–46.2M prior guide
Adjusted EBITDA (Adjusted EBITDA reconciliation)	$12.6M (-21.4%)	$16.0M	$11.9–13.4M prior guide
Non-GAAP diluted EPS (Non-GAAP Net Income reconciliation)	$1.71 (-42.4%)	$2.97	~$1.60 consensus
Free cash flow (Free Cash Flow reconciliation)	$2.7M (-60.3%)	$6.7M
Term loan balance (Financial Highlights)	$225.4M		$238.5M at Dec. 31, 2025

The more important news is the cause of the slowdown. Management explicitly attributed the full-year revenue decline not only to prior divestitures but also to customer churn events in the third quarter. That makes the weakness more concerning than a simple portfolio shrink: the core customer base itself showed pressure just as Upland is asking investors to wait for AI-driven growth. The company’s full-year revenue midpoint fell from $193.1 million to $191.6 million, while full-year adjusted EBITDA guidance was essentially unchanged at a 27% margin. 〔1〕

Debt reduction is real, but cash generation is deteriorating. Upland repaid $4.2 million of term-loan principal in the quarter and $13.1 million year to date, lowering the stated term-loan balance to $225.4 million. That supports the “delever” phase of the turnaround, but quarterly operating cash flow fell to $2.8 million from $6.9 million and free cash flow fell to $2.7 million from $6.7 million. With interest expense rising to $5.1 million, the company has less internally generated cash to fund both debt reduction and its AI growth push.

Near-term guidance confirms stabilization is still ahead, not here. Fourth-quarter revenue is guided to a midpoint of $46.2 million, down 6% year over year, while adjusted EBITDA is guided to a midpoint of $13.25 million, down 13%, with a 29% margin versus 31% a year ago. That is consistent with management’s staged plan, but it means the AI strategy has not yet translated into growth or stronger profitability.

Bottom line: Upland delivered a small quarterly earnings beat, but the business signal is weaker: churn is now part of the story, recurring revenue is declining, and cash generation is down. Debt paydown helps, but this filing delays rather than advances the promised AI-led growth narrative.나는

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Q4 earnings report, early 2027

Original filing on SEC EDGAR

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the raw filing — read the original on SEC.gov↗

decoded▸

AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

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Upland Software earnings beat revenue estimates, but churn cuts outlook

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