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Upwork Inc. (UPWK)
NASDAQ: UPWK · Real-Time Price · USD
8.15
+0.08 (0.99%)
At close: Sep 25, 2026, 4:00 PM EDT
8.19
+0.04 (0.49%)
After-hours: Sep 25, 2026, 7:30 PM EDT

Upwork Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Revenue
191.66195.48198.41201.73194.94192.71191.48193.78193.13190.94183.93175.73168.61160.86161.44158.64156.9141.34136.86128.14
Revenue Growth
-1.68%1.44%3.62%4.11%0.94%0.93%4.10%10.27%14.54%18.70%13.93%10.77%7.46%13.81%17.96%23.80%26.35%24.40%28.92%32.45%
Gross Profit
146.64150.84154.74155.89151.51150.9149.18150.37149.28146.74138.07132.46127.73120.43120.28118.17116.04103.4299.8193.21
Operating Income
41.832.7228.2931.6635.0738.6932.5120.7917.7813.058.4311.47-6.12-25.04-20.48-25.44-23.05-23.65-20.47-8.32
Net Income
25.431.4615.6329.3432.7337.73147.1727.7622.2218.4417.3716.34-3.9917.17-16.5-24.83-23.82-24.74-22.56-9.31
Earnings Per Share
0.200.240.110.210.240.271.030.200.170.130.120.12-0.03-0.15-0.13-0.19-0.18-0.19-0.18-0.07
EPS Growth
-15.87%-11.98%-88.88%5.00%43.65%101.98%752.87%69.97%------------

Revenue by Segment
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Marketplace
166.86170.71171.36174.57170.66166.29163.66167.34166.79164.33157.49149.63142.31136.68134.94132.65132.03118.67114.91108.89
Enterprise
24.824.7827.0527.1624.2826.4127.8326.4426.3426.6126.4426.1126.324.1826.525.9924.8722.6721.9519.25
Revenue (Total)
191.66195.48198.41201.73194.94192.71191.48193.78193.13190.94183.93175.73168.61160.86161.44158.64156.9141.34136.86128.14

Cash & Debt
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash & Investments
614.24579.73672.78643.1634.58622.07622.1601.18497.74490.61550.1555.24516.67509.63686.61675.81667.63672.96684.77696.84
Total Debt
379.41379.48371.15371.1370.85370.41369.12369.46365.66366.77364.27368.93369.98370.97581.94582.59583.23583.82584.37584.9
Net Cash (Debt)
234.84200.26301.63272263.73251.66252.98231.72132.09123.83185.83186.31146.69138.66104.6793.2184.3989.14100.4111.94
Net Cash Growth
-10.96%-20.42%19.23%17.38%99.66%103.22%36.13%24.37%-9.95%-10.70%77.53%99.88%73.81%55.56%4.25%-16.73%-40.61%-35.01%-25.46%-5.32%
Net Cash Per Share
1.811.482.161.951.881.761.771.660.960.861.291.361.091.020.790.710.650.690.780.88

Cash Flow & CapEx
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Operating Cash Flow
46.8723.0263.775.0872.5136.9738.5860.9639.214.8120.1536.954.31-8.78.4610.03-0.45-11.48-12.4520.86
Capital Expenditures
-1.62-1.72-0.46-0.48-2.38-2.47-1.55-1.2-0.6-0.18-0.13-0.420.02-0.16-0.36-0.29-0.41-0.19-0.46-0.23
Free Cash Flow
45.2621.363.2574.670.1334.4937.0359.7638.6114.6420.0136.534.33-8.868.19.74-0.86-11.67-12.9120.63
Free Cash Flow Growth
-35.47%-38.26%70.78%24.83%81.67%135.66%85.04%63.60%791.16%-147.09%275.23%----52.82%---234.57%

Margins
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Gross Margin
76.51%77.16%77.99%77.28%77.72%78.31%77.91%77.60%77.29%76.85%75.06%75.38%75.75%74.87%74.50%74.49%73.96%73.17%72.93%72.74%
Operating Margin
21.81%16.74%14.26%15.69%17.99%20.08%16.98%10.73%9.21%6.83%4.58%6.53%-3.63%-15.57%-12.69%-16.04%-14.69%-16.73%-14.95%-6.49%
Pretax Margin
16.75%19.29%17.16%17.68%19.72%23.36%9.59%14.91%12.12%10.35%8.60%9.81%-1.27%11.17%-9.95%-15.62%-15.16%-17.48%-16.44%-7.25%
Profit Margin
13.26%16.09%7.88%14.54%16.79%19.58%76.86%14.32%11.51%9.66%9.45%9.30%-2.37%10.67%-10.22%-15.65%-15.18%-17.50%-16.48%-7.27%
FCF Margin
23.61%10.89%31.88%36.98%35.98%17.90%19.34%30.84%19.99%7.67%10.88%20.79%2.57%-5.51%5.02%6.14%-0.55%-8.26%-9.43%16.10%

Valuation
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
PE Ratio
10.1413.0922.449.977.217.5310.1416.0819.2234.9743.17117.75--------
Forward PE
5.137.6214.3614.2311.2611.8714.2411.0711.1915.3821.6619.4123.14122.78136.19136.19136.19136.19281.38281.38
P/FCF Ratio
5.056.2310.6811.398.7810.4114.5710.3713.0222.3138.9138.2193.67-258.18----182.07
PS Ratio
1.311.813.293.152.292.292.841.811.922.342.942.301.922.352.222.994.765.668.7112.17