Upwork Inc. (UPWK)

Upwork Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	245.38	215.59	46.89	-89.89	-56.24	-22.87
Depreciation & Amortization	8.49	7.55	6.22	6.24	7.91	10.13
Other Amortization	13.65	11.95	8.6	7.86	7.08	3.96
Loss (Gain) From Sale of Assets	-	-	-	-	-	0.04
Asset Writedown & Restructuring Costs	-	-	-	-	8.74	-
Loss (Gain) From Sale of Investments	-7.26	-11.91	-14.43	-1.49	0.3	-0.32
Stock-Based Compensation	60.46	68.39	74.2	75.5	53.59	25.51
Other Operating Activities	-119.78	-123	-29.52	24.06	5.93	3.67
Change in Accounts Receivable	0.65	-4.8	-22.18	-15.29	-24.61	-20
Change in Accounts Payable	-4.81	0.97	-2.51	2.58	-1.45	5.82
Change in Unearned Revenue	-2.97	-10.88	-14.54	4.26	7.45	4.03
Change in Other Net Operating Assets	15.21	-0.28	-0.01	-2.33	2.13	12.39
Operating Cash Flow	209.03	153.56	52.71	11.5	10.84	22.37
Operating Cash Flow Growth	88.11%	191.35%	358.45%	6.10%	-51.55%	2013.89%
Capital Expenditures	-7.61	-3.53	-0.69	-1.25	-1.03	-6.32
Cash Acquisitions	-34.74	-14.33	-	-	-	-
Sale (Purchase) of Intangibles	-13.49	-10.92	-15.66	-7.49	-5.11	-8.05
Investment in Securities	-19.8	166.35	104.62	-60.74	-422.84	10.22
Investing Cash Flow	-75.63	137.57	88.27	-69.47	-428.98	-4.15
Long-Term Debt Issued	-	-	-	-	575	18
Long-Term Debt Repaid	-	-	-	-	-10.75	-25.62
Net Debt Issued (Repaid)	-	-	-	-	564.25	-7.62
Issuance of Common Stock	7.25	8.09	6.09	5.44	11.97	35.94
Repurchase of Common Stock	-70.92	-100	-	-	-	-
Other Financing Activities	31.33	9.96	-145.88	-4.29	-38.48	26.32
Financing Cash Flow	-32.34	-81.96	-139.79	1.14	537.74	54.64
Miscellaneous Cash Flow Adjustments	-	-	-	0	-	-
Net Cash Flow	101.05	209.18	1.19	-56.83	119.6	72.86
Free Cash Flow	201.42	150.04	52.02	10.25	9.81	16.05
Free Cash Flow Growth	83.47%	188.44%	407.52%	4.49%	-38.87%	-
Free Cash Flow Margin	26.06%	19.50%	7.55%	1.66%	1.95%	4.29%
Free Cash Flow Per Share	1.40	1.05	0.38	0.08	0.08	0.14
Cash Interest Paid	0.91	0.92	1.32	1.54	0.37	0.76
Cash Income Tax Paid	4.59	4.59	1.98	-	-	-
Levered Free Cash Flow	187.84	144.51	24.35	34.63	20.17	15.5
Unlevered Free Cash Flow	187.72	144.39	24.27	34.48	18.98	15.92
Change in Working Capital	8.08	-14.99	-39.24	-10.79	-16.47	2.24

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q