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Side-by-side financial comparison of INNEOVA Holdings Ltd (INEO) and Upland Software, Inc. (UPLD). Click either name above to swap in a different company.

Upland Software, Inc. is the larger business by last-quarter revenue ($49.3M vs $30.8M, roughly 1.6× INNEOVA Holdings Ltd). Upland Software, Inc. produced more free cash flow last quarter ($7.2M vs $-1.5M).

Upland Software, Inc. is a global provider of cloud-based enterprise work management solutions. It offers products covering project portfolio management, customer engagement, IT service management, and financial automation, serving businesses of all sizes across North America, Europe, and Asia-Pacific in tech, healthcare, and professional services sectors.

INEO vs UPLD — Head-to-Head

Bigger by revenue
UPLD
UPLD
1.6× larger
UPLD
$49.3M
$30.8M
INEO
More free cash flow
UPLD
UPLD
$8.7M more FCF
UPLD
$7.2M
$-1.5M
INEO

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
INEO
INEO
UPLD
UPLD
Revenue
$30.8M
$49.3M
Net Profit
$243.0K
Gross Margin
19.3%
76.5%
Operating Margin
3.6%
14.5%
Net Margin
0.8%
Revenue YoY
-27.5%
Net Profit YoY
EPS (diluted)
$0.02
$0.01

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
INEO
INEO
UPLD
UPLD
Q4 25
$49.3M
Q3 25
$50.5M
Q2 25
$30.8M
$53.4M
Q1 25
$63.7M
Q4 24
$68.0M
Q3 24
$66.7M
Q2 24
$69.3M
Q1 24
$70.7M
Net Profit
INEO
INEO
UPLD
UPLD
Q4 25
Q3 25
$-1.1M
Q2 25
$243.0K
$-13.0M
Q1 25
$-25.8M
Q4 24
Q3 24
$-1.7M
Q2 24
$-11.4M
Q1 24
$-96.1M
Gross Margin
INEO
INEO
UPLD
UPLD
Q4 25
76.5%
Q3 25
76.9%
Q2 25
19.3%
74.8%
Q1 25
71.6%
Q4 24
70.8%
Q3 24
70.5%
Q2 24
70.5%
Q1 24
70.2%
Operating Margin
INEO
INEO
UPLD
UPLD
Q4 25
14.5%
Q3 25
10.6%
Q2 25
3.6%
-13.2%
Q1 25
-1.7%
Q4 24
-2.9%
Q3 24
-5.0%
Q2 24
-7.7%
Q1 24
-129.6%
Net Margin
INEO
INEO
UPLD
UPLD
Q4 25
Q3 25
-2.2%
Q2 25
0.8%
-24.4%
Q1 25
-40.6%
Q4 24
Q3 24
-2.6%
Q2 24
-16.5%
Q1 24
-135.9%
EPS (diluted)
INEO
INEO
UPLD
UPLD
Q4 25
$0.01
Q3 25
$-0.09
Q2 25
$0.02
$-0.51
Q1 25
$-0.97
Q4 24
$-0.30
Q3 24
$-0.12
Q2 24
$-0.47
Q1 24
$-3.37

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
INEO
INEO
UPLD
UPLD
Cash + ST InvestmentsLiquidity on hand
$2.1M
$29.4M
Total DebtLower is stronger
$2.9M
$232.4M
Stockholders' EquityBook value
$11.2M
$-48.4M
Total Assets
$52.6M
$413.2M
Debt / EquityLower = less leverage
0.26×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
INEO
INEO
UPLD
UPLD
Q4 25
$29.4M
Q3 25
$22.8M
Q2 25
$2.1M
$41.0M
Q1 25
$33.7M
Q4 24
$56.4M
Q3 24
$59.7M
Q2 24
$232.4M
Q1 24
$231.6M
Total Debt
INEO
INEO
UPLD
UPLD
Q4 25
$232.4M
Q3 25
Q2 25
$2.9M
Q1 25
Q4 24
$290.2M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
INEO
INEO
UPLD
UPLD
Q4 25
$-48.4M
Q3 25
$-47.3M
Q2 25
$11.2M
$-42.4M
Q1 25
$-37.8M
Q4 24
$-18.3M
Q3 24
$907.0K
Q2 24
$6.5M
Q1 24
$20.1M
Total Assets
INEO
INEO
UPLD
UPLD
Q4 25
$413.2M
Q3 25
$409.1M
Q2 25
$52.6M
$441.7M
Q1 25
$457.0M
Q4 24
$529.5M
Q3 24
$554.9M
Q2 24
$739.9M
Q1 24
$754.9M
Debt / Equity
INEO
INEO
UPLD
UPLD
Q4 25
Q3 25
Q2 25
0.26×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
INEO
INEO
UPLD
UPLD
Operating Cash FlowLast quarter
$-301.0K
$7.3M
Free Cash FlowOCF − Capex
$-1.5M
$7.2M
FCF MarginFCF / Revenue
-4.8%
14.7%
Capex IntensityCapex / Revenue
3.8%
0.2%
Cash ConversionOCF / Net Profit
-1.24×
TTM Free Cash FlowTrailing 4 quarters
$24.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
INEO
INEO
UPLD
UPLD
Q4 25
$7.3M
Q3 25
$6.9M
Q2 25
$-301.0K
$3.3M
Q1 25
$8.3M
Q4 24
$9.3M
Q3 24
$4.3M
Q2 24
$5.5M
Q1 24
$5.1M
Free Cash Flow
INEO
INEO
UPLD
UPLD
Q4 25
$7.2M
Q3 25
$6.7M
Q2 25
$-1.5M
$2.7M
Q1 25
$7.9M
Q4 24
$9.0M
Q3 24
$4.2M
Q2 24
$5.2M
Q1 24
$4.9M
FCF Margin
INEO
INEO
UPLD
UPLD
Q4 25
14.7%
Q3 25
13.2%
Q2 25
-4.8%
5.0%
Q1 25
12.4%
Q4 24
13.3%
Q3 24
6.3%
Q2 24
7.5%
Q1 24
7.0%
Capex Intensity
INEO
INEO
UPLD
UPLD
Q4 25
0.2%
Q3 25
0.4%
Q2 25
3.8%
1.2%
Q1 25
0.7%
Q4 24
0.5%
Q3 24
0.2%
Q2 24
0.4%
Q1 24
0.3%
Cash Conversion
INEO
INEO
UPLD
UPLD
Q4 25
Q3 25
Q2 25
-1.24×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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