Upwork Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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 & Equivalents	328.4	294.36	305.76	79.64	129.38	187.21
Short-Term Investments	251.33	378.43	316.34	470.46	557.23	497.57
Cash & Short-Term Investments	579.73	672.78	622.1	550.1	686.61	684.77
Cash Growth	-6.80%	8.15%	13.09%	-19.88%	0.27%	303.63%
Accounts Receivable	75.91	76.24	75.49	103.06	64.89	66.83
Other Current Assets	227.66	201.82	213.46	230.21	179.4	178.06
Total Current Assets	883.3	950.83	911.05	883.37	930.91	929.65
Net Property, Plant & Equipment	61.93	49.43	35.81	31.47	29.67	32.01
Other Intangible Assets	34.23	37.16	12.99	3.05	-	-
Goodwill	149.19	149.19	121.06	118.22	118.22	118.22
Other Long-Term Assets	113.29	112.96	130.7	1.43	1.45	1.18
Total Assets	1,242	1,300	1,212	1,038	1,080	1,081
Accounts Payable	11.09	7.86	6.13	5.06	7.55	5
Accrued Expenses	63.99	94.02	59.3	58.19	53.61	45.74
Short-Term Debt	360.23	359.77	-	-	-	-
Unearned Revenue	8.2	7.77	7.27	17.36	25.08	22.08
Other Current Liabilities	203.69	180.75	195.74	212.39	161.46	160.81
Total Current Liabilities	647.2	650.17	268.43	293	247.69	233.63
Long-Term Debt	-	-	357.93	356.09	564.26	561.3
Long-Term Leases	15.2	9.71	9.57	6.09	11.18	16.75
Other Long-Term Liabilities	9.93	9.39	0.31	1.29	8.24	9.86
Total Long-Term Liabilities	25.12	19.1	367.8	363.46	583.67	587.91
Total Liabilities	672.33	669.27	636.24	656.47	831.37	821.54
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-in Capital	501.07	592.6	653.58	674.92	592.9	511.1
Accumulated Other Comprehensive Income	0.14	0.75	0.26	0.21	-3.09	-0.53
Retained Earnings	68.41	36.95	-78.48	-294.06	-340.95	-251.06
Shareholders' Equity	569.63	630.32	575.38	381.08	248.88	259.52
Total Liabilities & Equity	1,242	1,300	1,212	1,038	1,080	1,081
Total Debt	375.43	369.48	367.5	362.18	575.44	578.05
Net Cash (Debt)	204.31	303.3	254.61	187.92	111.18	106.72
Net Cash Growth	-32.64%	19.13%	35.48%	69.03%	4.18%	-22.90%
Net Cash Per Share	1.47	2.16	1.78	1.37	0.85	0.84
Book Value	569.63	630.32	575.38	381.08	248.88	259.52
Book Value Per Share	4.11	4.48	4.02	2.78	1.91	2.04
Tangible Book Value	386.2	443.96	441.32	259.81	130.66	141.3
Tangible Book Value Per Share	2.78	3.16	3.08	1.89	1.00	1.11

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q