Upland Software, Inc. (Nasdaq: UPLD) has announced its financial results for the second quarter of 2025, reporting total revenue of $53.4 million, a 23% decrease from $69.3 million in the second quarter of 2024. This decline is primarily attributed to divestitures aimed at streamlining and focusing the business. Subscription and support revenue also experienced a 23% decrease, amounting to $50.5 million compared to $65.5 million in the same period last year. The company reported a 500 basis point year-over-year increase in Adjusted EBITDA margin, improving from 20% in the second quarter of 2024 to 25% in the second quarter of 2025. Cash on hand at the end of the quarter was $41.0 million. Looking ahead, Upland Software provided guidance for the third quarter and full year of 2025. For the quarter ending September 30, 2025, the company expects total revenue to be between $46.8 million and $52.8 million, with subscription and support revenue ranging from $44.6 million to $49.6 million. This represents a 25% decline in total revenue at the midpoint compared to the same quarter in 2024. Adjusted EBITDA for the third quarter is expected to be between $14.5 million and $17.5 million, with a projected Adjusted EBITDA margin of 32% at the midpoint, an increase from the previous year's 21%. For the full year ending December 31, 2025, Upland anticipates total revenue to fall between $211.8 million and $223.8 million, with subscription and support revenue expected to be between $200.0 million and $210.0 million. This outlook indicates a 21% decline in total revenue at the midpoint compared to 2024. Adjusted EBITDA for the year is projected to be between $55.8 million and $61.8 million, with an expected Adjusted EBITDA margin of 27% at the midpoint, up from 20% in the previous year. In a significant business update, Upland completed a successful refinancing after the quarter ended, extending its debt maturity to July 2031, paying down $18 million in principal, and establishing a new revolving credit facility to enhance its liquidity and support its growth strategy.