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Upwork Inc. (UPWK)
NASDAQ: UPWK · Real-Time Price · USD
8.05
-0.29 (-3.48%)
At close: Oct 2, 2026, 4:00 PM EDT
8.17
+0.12 (1.49%)
After-hours: Oct 2, 2026, 7:35 PM EDT

Upwork Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
787.28787.78769.33689.14618.32502.8
Revenue Growth
1.86%2.40%11.64%11.45%22.98%34.57%
Gross Profit
608.11613.03595.57518.69457.92367.29
Operating Income
134.47133.7184.13-11.26-92.62-45.48
Net Income
101.83115.43215.5946.89-89.89-56.24
Earnings Per Share
0.760.841.520.06-0.69-0.44
EPS Growth
-55.69%-45.11%2286.77%---

Revenue by Segment
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Marketplace
683.49682.88662.11586.1518.28427.48
Enterprise
103.79104.9107.22103.04100.0475.32
Revenue (Total)
787.28787.78769.33689.14618.32502.8

Cash & Debt
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
614.24672.78622.1550.1686.61684.77
Total Debt
379.41371.15369.12364.27581.94584.37
Net Cash (Debt)
234.84301.63252.98185.83104.67100.4
Net Cash Growth
-10.96%19.23%36.13%77.53%4.25%-25.46%
Net Cash Per Share
1.732.141.771.350.800.79

Cash Flow & CapEx
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
208.67248.26153.5652.7111.510.84
Capital Expenditures
-4.28-5.79-3.53-0.69-1.25-1.03
Free Cash Flow
204.4242.47150.0452.0210.259.81
Free Cash Flow Growth
1.48%61.61%188.44%407.52%4.49%-38.87%

Margins
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
77.24%77.82%77.41%75.27%74.06%73.05%
Operating Margin
17.08%16.97%10.94%-1.63%-14.98%-9.04%
Pretax Margin
17.72%19.44%11.75%7.09%-14.45%-11.16%
Profit Margin
12.93%14.65%28.02%6.80%-14.54%-11.19%
FCF Margin
25.96%30.78%19.50%7.55%1.66%1.95%

Valuation
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingOct '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
10.5522.4410.1443.17--
Forward PE
6.2814.3614.2421.66136.19281.38
P/FCF Ratio
4.9210.6814.5738.91133.79446.58
PS Ratio
1.283.292.842.942.228.71