Private company

UpHealth, Inc.

UpHealth, Inc. is an American health services company that raised $4.5 million in 2023 (SEC Form D).2 It is headquartered in Palo Alto, United States.2

Last updated Oct 20, 2026.

Overview

  • IndustryServices-Health Services2
  • HeadquartersPalo Alto, United States2
  • Incorporated inDE3
  • Business address14000 S. Military Trail, Suite 203, Delray Beach, Fl 334843
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI549300OSKGXG2OH2XE502
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 73111642

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A full discussion of the general development of our business and information about our legal predecessor is included in the section entitled “Business” in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (“SEC”) on April 18, 2022 (the “2021 Annual Report”). The following discussion provides an update to the general development of our business and includes material developments that have occurred since the date the 2021 Annual Report was filed and incorporates by reference the full discussion in the 2021 Annual Report, which is available here .5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

53.5%Gross margin6
-68.9%Operating margin6
-44.5%Net margin6
-18.1%Revenue growth, 20236
-105.0%Return on equity6
2.66×Debt to equity6
-$21.6MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Research and development3¢$4.4M
  • Other costs74¢$96.2M
  • Interest22¢$28.2M
  • Income tax1¢$1.2M

Out of $130.0M in revenue.6 The company lost money this year.

Financial statements

Revenue786$130.0M in 2023+2309% since 2020
0$50.0M$100.0M$150.0M$200.0M2020: $5.4M$5.4M20202021: $123.8M$123.8M2021+2194%2022: $158.8M$158.8M2022+28%2023: $130.0M$130.0M2023−18%
Gross profit786$69.6M in 2023+1552% since 2020
0$20.0M$40.0M$60.0M$80.0M2020: $4.2M$4.2M20202021: $39.8M$39.8M2021+845%2022: $70.2M$70.2M2022+76%2023: $69.6M$69.6M2023−1%
Operating income786-$89.6M in 2023+4551% since 2020
-$400.0M-$300.0M-$200.0M-$100.0M02020: -$1.9M-$1.9M20202021: -$380.0M-$380.0M2021+19629%2022: -$161.4M-$161.4M2022−58%2023: -$89.6M-$89.6M2023−45%
Net income786-$57.8M in 2023+2546% since 2020
-$400.0M-$300.0M-$200.0M-$100.0M02020: -$2.2M-$2.2M20202021: -$341.0M-$341.0M2021+15500%2022: -$223.0M-$223.0M2022−35%2023: -$57.8M-$57.8M2023−74%
Fiscal year20192020202120222023
Revenue$5.4M7$123.8M8$158.8M6$130.0M6
Gross profit$4.2M7$39.8M8$70.2M6$69.6M6
Research and development$874.0K7$7.6M8$7.9M6$4.4M6
Operating expenses$419.8M8$231.5M6$159.2M6
Operating income-$1.9M7-$380.0M8-$161.4M6-$89.6M6
Interest$134.0K7$19.5M8$26.5M6$28.2M6
Income before tax-$342.8M8-$232.3M6-$57.6M6
Income tax$50.0K7-$2.4M8-$9.4M6-$1.2M6
Net income-$2.2M7-$341.0M8-$223.0M6-$57.8M6
Earnings per share-$0.047-$31.868-$15.176-$3.266
Earnings per share (diluted)-$0.047-$31.868-$15.176-$3.266
Shares (weighted, basic)10.7M shares814.7M shares617.7M shares6
Shares (weighted, diluted)10.7M shares814.7M shares617.7M shares6

Compare UpHealth, Inc. with another company

Corporate structure

UpHealth, Inc. sits at the top of its group. 6 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of UpHealth, Inc.

  • Mariya Pylypiv Filed SC 13D/A on UpHealth, Inc., latest Nov 29, 2023 (7 filings since Jun 3, 2022)
  • Agnes Rey-Giraud Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Avi S. Katz Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Chirinjeev Kathuria Filed SC 13D/A on UpHealth, Inc., latest Nov 28, 2023 (7 filings since Jun 1, 2022)
  • Jay Walter Jennings Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Luis Machuca Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Mark Guinan Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Martin S. A. Beck Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Nathan Locke Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Raluca Dinu Filed SC 13D on UpHealth, Inc., latest Nov 28, 2023
  • Riva Ridge Capital Management LP Filed SC 13D on UpHealth, Inc., latest Sep 27, 2023 (2 filings since Mar 9, 2023)
  • Lynrock Lake LP Filed SC 13D on UpHealth, Inc., latest Sep 26, 2023 (2 filings since Feb 14, 2023)
  • UpHealth, Inc. Palo Alto, California, United States
    • Behavioral Health Services, LLC Subsidiary · Delaware, United States
    • Glocal Healthcare Systems Private Limited Subsidiary · India
    • Thrasys, Inc. Subsidiary · California, United States
    • TTC Healthcare, Inc. Subsidiary · Delaware, United States
    • UpHealth Holdings, Inc. Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What UpHealth, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$5.9M6 Dec 31, 2022
Operating-lease assets (leased space)$1.9M6 Dec 31, 2023$7.2M6 Dec 31, 2022−73.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.5M6 Dec 31, 2023$15.6M6 Dec 31, 2022−83.6%
Stakes in other companies (equity method)$96.8M6 Dec 31, 2023$21.2M6 Dec 31, 2022+356.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$80.3M6 Dec 31, 2023$159.7M6 Dec 31, 2022−49.7%
Intangible assets, net (excluding goodwill)$22.7M6 Dec 31, 2023$31.4M6 Dec 31, 2022−27.6%
Finite-lived intangibles, gross$32.5M6 Dec 31, 2023$43.5M6 Dec 31, 2022−25.3%
Accumulated amortization$9.8M6 Dec 31, 2023$12.1M6 Dec 31, 2022−19.5%
Finite-lived intangibles, net$22.7M6 Dec 31, 2023$31.4M6 Dec 31, 2022−27.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$06 Dec 31, 2023$161.0K6 Dec 31, 2022−100.0%

Leadership

Who has led UpHealth, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Alfonso Gatmaitan2021
  2. Ramesh Balakrishnan2021
  3. Syed Sabahat Azim2021
  4. Samuel Meckey2022–2023
  5. Martin S. A. Beck2023–2024
  6. Jay Walter Jennings2024

President

  1. James B. Edwards2021

Chief financial officer

  1. Tara M. McDonough2019
  2. Walter Bradford Weightman2019
  3. Martin S. A. Beck2021–2023
  4. Jay Walter Jennings2023–2024

Chief operating officer

  1. Alfonso Gatmaitan2021–2022
20202025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorAvi S. Katz named Mar 16, 202340
  • DirectorChirinjeev S. Kathuria named Mar 16, 202340

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Behavioral Health Services, LLC Delaware4
  • Glocal Healthcare Systems Private Limited India4
  • TTC Healthcare, Inc. Delaware4
  • Thrasys, Inc. California4
  • UpHealth Holdings, Inc. Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • GigCapital2, Inc.Mar 22, 2019 to Jun 9, 20213

Timeline

  1. Sep 27, 20248-K Other events41
  2. Sep 26, 20248-K Other events42
  3. Aug 27, 20248-K Other events43
  4. Aug 26, 2024New chief executive Jay Walter Jennings becomes CEO13
  5. Jul 15, 20248-K Executive or director change; Other events44
  6. Jun 6, 20248-K Other events45
  7. May 20, 20248-K Regulation FD disclosure46
  8. May 10, 20248-K Other events47
  9. Apr 15, 20248-K Other events48
  10. Apr 12, 20248-K Entered a material agreement49
  11. Apr 1, 20248-K Other events50
  12. Mar 21, 20248-K Results of operations; Other events51
  13. Mar 20, 20248-K Regulation FD disclosure52
  14. Oct 11, 2023New chief executive Martin S. A. Beck becomes CEO14
  15. Jul 13, 2022New chief executive Samuel Meckey becomes CEO15
  16. Jun 11, 2021New chief executive Syed Sabahat Azim becomes CEO18
  17. Jun 11, 2021New chief executive Ramesh Balakrishnan becomes CEO17
  18. Jun 11, 2021New chief executive Alfonso Gatmaitan becomes CEO16

Calendar

When it reported results

  1. Mar 21, 2024Reported quarterly or annual results51
  2. Nov 20, 2023Reported quarterly or annual results53
  3. Aug 10, 2023Reported quarterly or annual results54
  4. May 11, 2023Reported quarterly or annual results55
  5. Mar 2, 2023Reported quarterly or annual results56
  6. Dec 29, 2022Reported quarterly or annual results57
  7. Aug 15, 2022Reported quarterly or annual results58
  8. May 12, 2022Reported quarterly or annual results59

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

265 filings to the SEC since October 2021: 5 annual reports, 8 quarterly reports, 74 major events, 64 insider forms, 42 large holders, 1 private raises, 71 other. The latest 20:

  1. Aug 14, 2026NT 10-Q EDGAR
  2. May 15, 2026NT 10-Q EDGAR
  3. Mar 31, 2026NT 10-K EDGAR
  4. Nov 14, 2025NT 10-Q EDGAR
  5. Aug 14, 2025NT 10-Q EDGAR
  6. May 15, 2025NT 10-Q EDGAR
  7. Mar 31, 2025NT 10-K EDGAR
  8. Nov 14, 2024NT 10-Q EDGAR
  9. Sep 27, 20248-K EDGAR
  10. Sep 26, 20248-K EDGAR
  11. Aug 27, 20248-K EDGAR
  12. Aug 26, 20244 EDGAR
  13. Aug 14, 2024NT 10-Q EDGAR
  14. Jul 16, 2024424B3 EDGAR
  15. Jul 15, 20248-K EDGAR
  16. Jun 10, 2024424B3 EDGAR
  17. Jun 7, 20244 EDGAR
  18. Jun 7, 20244 EDGAR
  19. Jun 7, 20244 EDGAR
  20. Jun 6, 20248-K EDGAR

The 265 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 2 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 21, 2024REY-GIRAUD AGNESDirectorSale13,282$0.60$8.0KForm 4
Nov 21, 2023Katz Avi SDirectorSale280$0.40$112Form 4
Nov 18, 2021Pylypiv MariyaDirectorBuy17,382$3.40$59.1KForm 4
Nov 17, 2021Pylypiv MariyaDirectorBuy12,618$3.42$43.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 9, 2023Raised $4.5 million in a private offering of equity Form D: 1 investor so far Form D

SEC filer profile

How UpHealth, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARUpHealth, Inc.1
  • CIK0001770141
  • Employer ID (EIN)83-38380451
  • Filer status<br>emerging growth company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)8000 Services-Health Services1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address14000 S. Military Trail, Suite 203, Delray Beach, FL 334841
  • Phone888.424.36461
  • Shares outstanding18,932,192 as of Jun 5, 202411
  • Public float$22.0M as of Jun 30, 20236
  • On EDGAR sinceMar 22, 20191
  • Filings484 in all: 8-K (111), 4 (79), 425 (35), 3 (31), SC 13D/A (25), 424B3 (21), CORRESP (17), SC 13D (17)1
    All 43 form types

    DEFA14A (16), 10-Q (15), NT 10-Q (11), S-1/A (11), UPLOAD (10), SC 13G (7), 10-K (5), 3/A (5), DEF 14A (5), EFFECT (5), NT 10-K (5), S-8 (5), SC 13G/A (5), S-1 (4), S-4/A (4), 10-K/A (3), 25-NSE (3), 8-K/A (3), DFAN14A (3), PRE 14A (3), PRRN14A (3), 424B4 (2), 8-A12B/A (2), CERT (2), 4/A (1), 8-A12B (1), D (1), DEFM14A (1), DRS (1), DRS/A (1), DRSLTR (1), PREC14A (1), PREM14A (1), S-1MEF (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Apr 5, 2024
    Quarterly report (10-Q) Jun 6, 2024
    Proxy statement (DEF 14A) Dec 12, 2023
    Latest 8-K (8-K) Sep 27, 2024

Sources

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