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%
Accounts Receivable	76.24	75.49	103.06	64.89	66.83
Other Current Assets	201.82	213.46	230.21	179.4	178.06
Total Current Assets	950.83	911.05	883.37	930.91	929.65
Net Property, Plant & Equipment	49.43	35.81	31.47	29.67	32.01
Other Intangible Assets	37.16	12.99	3.05	-	-
Goodwill	149.19	121.06	118.22	118.22	118.22
Other Long-Term Assets	112.96	130.7	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	59.3	58.19	53.61	45.74
Short-Term Debt	359.77	-	-	-	-
Unearned Revenue	7.77	7.27	17.36	25.08	22.08
Other Current Liabilities	180.75	195.74	212.39	161.46	160.81
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
Other Long-Term Liabilities	9.39	0.31	1.29	8.24	9.86
Total Long-Term Liabilities	19.1	367.8	363.46	583.67	587.91
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
Accumulated Other Comprehensive Income	0.75	0.26	0.21	-3.09	-0.53
Retained Earnings	36.95	-78.48	-294.06	-340.95	-251.06
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	367.5	362.18	575.44	578.05
Net Cash (Debt)	303.3	254.61	187.92	111.18	106.72
Net Cash Growth	19.13%	35.48%	69.03%	4.18%	-22.90%
Net Cash Per Share	2.16	1.78	1.37	0.85	0.84
Book Value	630.32	575.38	381.08	248.88	259.52
Book Value Per Share	4.48	4.02	2.78	1.91	2.04
Tangible Book Value	443.96	441.32	259.81	130.66	141.3
Tangible Book Value Per Share	3.16	3.08	1.89	1.00	1.11

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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