Upwork Inc. (UPWK)

NASDAQ: UPWK · Real-Time Price · USD

9.93

+0.07 (0.66%)

At close: Nov 13, 2026, 4:00 PM EST

9.93

0.00 (0.00%)

After-hours: Nov 13, 2026, 4:39 PM EST

Upwork Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Revenue	771.15	787.78	769.33	689.14	618.32	502.8
Revenue Growth	-1.24%	2.40%	11.64%	11.45%	22.98%	34.57%
Gross Profit	593.52	613.03	595.57	518.69	457.92	367.29
Operating Income	147.38	133.71	84.13	-11.26	-92.62	-45.48
Net Income	104.31	115.43	215.59	46.89	-89.89	-56.24
Earnings Per Share	0.80	0.84	1.52	0.06	-0.69	-0.44
EPS Growth	-54.20%	-45.11%	2286.77%	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Marketplace	668.24	682.88	662.11	586.1	518.28	427.48
Enterprise	102.91	104.9	107.22	103.04	100.04	75.32
Revenue (Total)	771.15	787.78	769.33	689.14	618.32	502.8

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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 & Investments	304.33	672.78	622.1	550.1	686.61	684.77
Total Debt	18.02	371.15	369.12	364.27	581.94	584.37
Net Cash (Debt)	286.31	301.63	252.98	185.83	104.67	100.4
Net Cash Growth	5.26%	19.23%	36.13%	77.53%	4.25%	-25.46%
Net Cash Per Share	2.14	2.14	1.77	1.35	0.80	0.79

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Operating Cash Flow	199.54	248.26	153.56	52.71	11.5	10.84
Capital Expenditures	-7.95	-5.79	-3.53	-0.69	-1.25	-1.03
Free Cash Flow	191.59	242.47	150.04	52.02	10.25	9.81
Free Cash Flow Growth	-11.40%	61.61%	188.44%	407.52%	4.49%	-38.87%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Gross Margin	76.96%	77.82%	77.41%	75.27%	74.06%	73.05%
Operating Margin	19.11%	16.97%	10.94%	-1.63%	-14.98%	-9.04%
Pretax Margin	18.47%	19.44%	11.75%	7.09%	-14.45%	-11.16%
Profit Margin	13.53%	14.65%	28.02%	6.80%	-14.54%	-11.19%
FCF Margin	24.84%	30.78%	19.50%	7.55%	1.66%	1.95%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 13, 2026	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
PE Ratio	12.48	22.44	10.14	43.17	-	-
Forward PE	8.79	14.36	14.24	21.66	136.19	281.38
P/FCF Ratio	6.56	10.68	14.57	38.91	133.79	446.58
PS Ratio	1.63	3.29	2.84	2.94	2.22	8.71