Upwork Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	260.84	305.76	79.64	129.38	187.21	94.08
Short-Term Investments	382.26	316.34	470.46	557.23	497.57	75.57
Cash & Short-Term Investments	643.1	622.1	550.1	686.61	684.77	169.65
Cash Growth	6.97%	13.09%	-19.88%	0.27%	303.63%	26.72%
Receivables	76.43	75.49	103.06	64.89	66.83	47.02
Prepaid Expenses	18.05	14.13	14.23	14.35	14.04	6.79
Restricted Cash	-	3.6	3.6	3.6	3.2	2.3
Other Current Assets	211.37	195.74	212.39	161.46	160.81	135.04
Total Current Assets	948.95	911.05	883.37	930.91	929.65	360.8
Property, Plant & Equipment	45.56	35.81	31.47	29.67	32.01	47.87
Goodwill	150.47	121.06	118.22	118.22	118.22	118.22
Other Intangible Assets	39.66	12.99	3.05	-	-	0.67
Long-Term Deferred Tax Assets	125.07	128.78	-	-	-	-
Other Long-Term Assets	1.51	1.92	1.43	1.45	1.18	1.67
Total Assets	1,311	1,212	1,038	1,080	1,081	529.23
Accounts Payable	8.51	6.13	5.06	7.55	5	6.46
Accrued Expenses	70.45	56.82	54.99	44.98	38.41	28.94
Current Portion of Long-Term Debt	359.31	-	-	-	-	7.58
Current Portion of Leases	1.66	1.62	2.09	6.5	6.32	3.73
Current Unearned Revenue	7.94	7.27	17.36	25.08	22.08	16.8
Other Current Liabilities	212.6	196.59	213.5	163.59	161.83	135.24
Total Current Liabilities	660.48	268.43	293	247.69	233.63	198.75
Long-Term Debt	-	357.93	356.09	564.26	561.3	3.14
Long-Term Leases	10.13	9.57	6.09	11.18	16.75	20.51
Long-Term Unearned Revenue	-	-	0.79	7.61	6.35	4.18
Other Long-Term Liabilities	12.48	0.31	0.5	0.62	3.51	3.35
Total Liabilities	683.08	636.24	656.47	831.37	821.54	229.92
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	605.93	653.58	674.92	592.9	511.1	494.12
Retained Earnings	21.32	-78.48	-294.06	-340.95	-251.06	-194.82
Comprehensive Income & Other	0.87	0.26	0.21	-3.09	-0.53	-
Total Common Equity	628.13	575.38	381.08	248.88	259.52	299.31
Shareholders' Equity	628.13	575.38	381.08	248.88	259.52	299.31
Total Liabilities & Equity	1,311	1,212	1,038	1,080	1,081	529.23
Total Debt	371.1	369.12	364.27	581.94	584.37	34.95
Net Cash (Debt)	272	252.98	185.83	104.67	100.4	134.7
Net Cash Growth	17.38%	36.13%	77.53%	4.25%	-25.46%	47.71%
Net Cash Per Share	1.90	1.77	1.35	0.80	0.79	1.13
Filing Date Shares Outstanding	130.65	135.46	137.39	132.48	129.22	124.96
Total Common Shares Outstanding	131.39	135.35	137.27	132.37	129.13	124.8
Working Capital	288.48	642.62	590.37	683.21	696.02	162.05
Book Value Per Share	4.78	4.25	2.78	1.88	2.01	2.40
Tangible Book Value	438	441.32	259.81	130.66	141.3	180.42
Tangible Book Value Per Share	3.33	3.26	1.89	0.99	1.09	1.45
Machinery	8.42	8.57	9.35	9.99	8.86	8.17
Leasehold Improvements	7.65	6.03	11.64	11.64	11.64	14.61

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