Upland Software (UPLD) Cost of Revenue (2013 - 2026)
Upland Software (UPLD) recorded Cost of Revenue of $11.67 million in Q2 2026, down 13.1% from $13.44 million a year earlier and down 2.2% from the prior quarter.
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Analysis
Upland Software (UPLD) Cost of Revenue (2013 - 2026) Analysis & Trends
On a TTM basis, Upland Software's Cost of Revenue came in at $46.88 million as of Jun 30, 2026, down 34.0% year-over-year; for FY2025, it was $54.76 million, down 32.5% from FY2024.
- Annual Cost of Revenue has declined for three straight years, with a five-year compound annual growth rate of -11.1% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $81.09 million in FY2024 (-15.8%), $96.36 million in FY2023 (-7.1%), $103.74 million in FY2022 (+4.3%) and $99.45 million in FY2021 (+1.0%).
- Quarterly Cost of Revenue has ranged from $11.6 million in Q4 2025 to $26.71 million in Q4 2022 over the past five years.
- On a year-over-year basis, Cost of Revenue has declined for 13 consecutive quarters, with an average decline of 26.0% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 6.2% in Q2 2022, against a decline of 41.6% in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $11.93 million (Q1 2026), $11.6 million (Q4 2025) and $11.68 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 92.94 Bn | 68.19 Bn | 6.00 Bn | 763.00 Mn |
| 2 | Atlassian | 48.88 Bn | 42.16 Bn | 1.53 Bn | 238.45 Mn |
| 3 | Twilio | 45.24 Bn | 35.23 Bn | 725.87 Mn | 773.22 Mn |
| 4 | Autodesk | 44.31 Bn | 32.34 Bn | 1.87 Bn | 176.00 Mn |
| 5 | Zoom Communications | 27.15 Bn | -3.64 Bn | 985.50 Mn | 291.72 Mn |
| 6 | Figma | 11.33 Bn | 4.84 Bn | 309.61 Mn | 60.47 Mn |
| 7 | Dropbox | 7.45 Bn | 3.08 Bn | 506.50 Mn | 125.00 Mn |
| 8 | Nice | 6.88 Bn | 5.35 Bn | 995.81 Mn | 439.04 Mn |
| 9 | RingCentral | 6.55 Bn | 6.05 Bn | 472.31 Mn | 184.70 Mn |
| 10 | Upland Software | 11.03 Mn | -101.95 Mn | 37.47 Mn | 11.67 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.67 Mn |
| Mar 31, 2026 | 11.93 Mn |
| Dec 31, 2025 | 11.60 Mn |
| Sep 30, 2025 | 11.68 Mn |
| Jun 30, 2025 | 13.44 Mn |
| Mar 31, 2025 | 18.05 Mn |
| Dec 31, 2024 | 19.86 Mn |
| Sep 30, 2024 | 19.71 Mn |
| Jun 30, 2024 | 20.47 Mn |
| Mar 31, 2024 | 21.05 Mn |
| Dec 31, 2023 | 23.71 Mn |
| Sep 30, 2023 | 22.94 Mn |
| Jun 30, 2023 | 24.18 Mn |
| Mar 31, 2023 | 25.54 Mn |
| Dec 31, 2022 | 26.71 Mn |
| Sep 30, 2022 | 25.73 Mn |
| Jun 30, 2022 | 26.55 Mn |
| Mar 31, 2022 | 24.76 Mn |
| Dec 31, 2021 | 25.20 Mn |
| Sep 30, 2021 | 24.82 Mn |
API Access
Upland Software Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=UPLD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "UPLD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=UPLD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();