Upwork Inc. (UPWK)
NASDAQ: UPWK · Real-Time Price · USD
9.02
+0.10 (1.12%)
At close: Aug 28, 2026, 4:00 PM EDT
9.04
+0.02 (0.22%)
After-hours: Aug 28, 2026, 7:30 PM EDT
Upwork Income Statement
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 | Jun '26 Jun 30, 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 |
| 787.28 | 787.78 | 769.33 | 689.14 | 618.32 | 502.8 | |
Revenue Growth | 1.86% | 2.40% | 11.64% | 11.45% | 22.98% | 34.57% |
Cost of Revenue | 179.17 | 174.75 | 173.76 | 170.45 | 160.4 | 135.51 |
Gross Profit | 608.11 | 613.03 | 595.57 | 518.69 | 457.92 | 367.29 |
Selling, General & Admin | 289.91 | 285.64 | 303.58 | 339.61 | 370.83 | 287.63 |
Research & Development | 174.86 | 185.54 | 201.13 | 177.36 | 154.55 | 119.08 |
Other Operating Expenses | 8.88 | 8.14 | 6.73 | 12.98 | 25.15 | 6.05 |
Operating Expenses | 473.65 | 479.33 | 511.44 | 529.95 | 550.54 | 412.77 |
Operating Income | 134.47 | 133.71 | 84.13 | -11.26 | -92.62 | -45.48 |
Interest Expense | -3.19 | -3.15 | -2.76 | -3.22 | -4.48 | - |
Interest & Investment Income | 24.48 | 27.44 | 27.96 | 24.42 | 7.92 | 0.3 |
Currency Exchange Gain (Loss) | 0.5 | 0.5 | 0.1 | 0.5 | -0.2 | -0.5 |
Other Non Operating Income (Expenses) | -0.99 | -0.92 | 0.18 | -0.51 | 0.04 | -1.7 |
EBT Excluding Unusual Items | 155.28 | 157.58 | 109.61 | 9.93 | -89.35 | -47.38 |
Merger & Restructuring Charges | -15.74 | -4.4 | -19.19 | - | - | - |
Asset Writedown | - | - | - | - | - | -8.74 |
Other Unusual Items | - | - | - | 38.95 | - | - |
Pretax Income | 139.54 | 153.18 | 90.43 | 48.88 | -89.35 | -56.12 |
Income Tax Expense | 37.71 | 37.75 | -125.16 | 1.99 | 0.54 | 0.12 |
Net Income | 101.83 | 115.43 | 215.59 | 46.89 | -89.89 | -56.24 |
Net Income to Common | 101.83 | 115.43 | 215.59 | 46.89 | -89.89 | -56.24 |
Net Income Growth | -58.50% | -46.46% | 359.80% | - | - | - |
Shares Outstanding (Basic) | 129 | 132 | 134 | 135 | 131 | 127 |
Shares Outstanding (Diluted) | 136 | 141 | 143 | 137 | 131 | 127 |
Shares Change | -5.27% | -1.74% | 4.29% | 5.17% | 2.64% | 7.13% |
EPS (Basic) | 0.79 | 0.87 | 1.61 | 0.35 | -0.69 | -0.44 |
EPS (Diluted) | 0.76 | 0.84 | 1.52 | 0.06 | -0.69 | -0.44 |
EPS Growth | -55.69% | -45.11% | 2286.77% | - | - | - |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Free Cash Flow | 204.4 | 242.47 | 150.04 | 52.02 | 10.25 | 9.81 |
Free Cash Flow Per Share | 1.50 | 1.72 | 1.05 | 0.38 | 0.08 | 0.08 |
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% |
Profit Margin | 12.93% | 14.65% | 28.02% | 6.80% | -14.54% | -11.19% |
Free Cash Flow Margin | 25.96% | 30.78% | 19.50% | 7.55% | 1.66% | 1.95% |
EBITDA | 149.11 | 145.42 | 88.84 | -8.31 | -89.47 | -41.12 |
EBITDA Margin | 18.94% | 18.46% | 11.55% | -1.21% | -14.47% | -8.18% |
D&A For EBITDA | 14.65 | 11.71 | 4.71 | 2.95 | 3.16 | 4.36 |
EBIT | 134.47 | 133.71 | 84.13 | -11.26 | -92.62 | -45.48 |
EBIT Margin | 17.08% | 16.97% | 10.94% | -1.63% | -14.98% | -9.04% |
Effective Tax Rate | 27.02% | 24.64% | - | 4.07% | - | - |
Advertising Expenses | - | 51.9 | 57.1 | 83.2 | 121.2 | 90.8 |