Upwork Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	294.36	305.76	79.64	129.38	187.21
Short-Term Investments	378.43	316.34	470.46	557.23	497.57
Cash & Short-Term Investments	672.78	622.1	550.1	686.61	684.77
Cash Growth	8.15%	13.09%	-19.88%	0.27%	303.63%
Receivables	76.24	75.49	103.06	64.89	66.83
Prepaid Expenses	21.06	14.13	14.23	14.35	14.04
Restricted Cash	-	3.6	3.6	3.6	3.2
Other Current Assets	180.75	195.74	212.39	161.46	160.81
Total Current Assets	950.83	911.05	883.37	930.91	929.65
Property, Plant & Equipment	49.43	35.81	31.47	29.67	32.01
Goodwill	149.19	121.06	118.22	118.22	118.22
Other Intangible Assets	37.16	12.99	3.05	-	-
Long-Term Deferred Tax Assets	111.5	128.78	-	-	-
Other Long-Term Assets	1.47	1.92	1.43	1.45	1.18
Total Assets	1,300	1,212	1,038	1,080	1,081
Accounts Payable	7.86	6.13	5.06	7.55	5
Accrued Expenses	94.02	56.82	54.99	44.98	38.41
Current Portion of Long-Term Debt	359.77	-	-	-	-
Current Portion of Leases	-	1.62	2.09	6.5	6.32
Current Unearned Revenue	7.77	7.27	17.36	25.08	22.08
Other Current Liabilities	180.75	196.59	213.5	163.59	161.83
Total Current Liabilities	650.17	268.43	293	247.69	233.63
Long-Term Debt	-	357.93	356.09	564.26	561.3
Long-Term Leases	9.71	9.57	6.09	11.18	16.75
Long-Term Unearned Revenue	-	-	0.79	7.61	6.35
Other Long-Term Liabilities	9.39	0.31	0.5	0.62	3.51
Total Liabilities	669.27	636.24	656.47	831.37	821.54
Common Stock	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	592.6	653.58	674.92	592.9	511.1
Retained Earnings	36.95	-78.48	-294.06	-340.95	-251.06
Comprehensive Income & Other	0.75	0.26	0.21	-3.09	-0.53
Total Common Equity	630.32	575.38	381.08	248.88	259.52
Shareholders' Equity	630.32	575.38	381.08	248.88	259.52
Total Liabilities & Equity	1,300	1,212	1,038	1,080	1,081
Total Debt	369.48	369.12	364.27	581.94	584.37
Net Cash (Debt)	303.3	252.98	185.83	104.67	100.4
Net Cash Growth	19.89%	36.13%	77.53%	4.25%	-25.46%
Net Cash Per Share	2.16	1.77	1.35	0.80	0.79
Filing Date Shares Outstanding	130.62	135.46	137.39	132.48	129.22
Total Common Shares Outstanding	130.62	135.35	137.27	132.37	129.13
Working Capital	300.67	642.62	590.37	683.21	696.02
Book Value Per Share	4.83	4.25	2.78	1.88	2.01
Tangible Book Value	443.96	441.32	259.81	130.66	141.3
Tangible Book Value Per Share	3.40	3.26	1.89	0.99	1.09
Machinery	-	8.57	9.35	9.99	8.86
Leasehold Improvements	-	6.03	11.64	11.64	11.64

Source: S&P Global Market Intelligence. Standard template. Financial Sources.