Upwork Inc. (UPWK)
NASDAQ: UPWK · Real-Time Price · USD
9.79
+0.05 (0.51%)
Nov 11, 2026, 11:30 AM EST - Market open
Upwork Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
| 185.6 | 191.66 | 195.48 | 198.41 | 201.73 | 194.94 | 192.71 | 191.48 | 193.78 | 193.13 | 190.94 | 183.93 | 175.73 | 168.61 | 160.86 | 161.44 | 158.64 | 156.9 | 141.34 | 136.86 | |
Revenue Growth (YoY) | -8.00% | -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% |
Cost of Revenue | 44.3 | 45.02 | 44.64 | 43.67 | 45.84 | 43.43 | 41.81 | 42.3 | 43.41 | 43.85 | 44.19 | 45.87 | 43.27 | 40.88 | 40.43 | 41.16 | 40.47 | 40.86 | 37.92 | 37.05 |
Gross Profit | 141.3 | 146.64 | 150.84 | 154.74 | 155.89 | 151.51 | 150.9 | 149.18 | 150.37 | 149.28 | 146.74 | 138.07 | 132.46 | 127.73 | 120.43 | 120.28 | 118.17 | 116.04 | 103.42 | 99.81 |
Selling, General & Admin | 63.04 | 65.3 | 72.6 | 77.67 | 74.34 | 69.83 | 63.8 | 69.1 | 77.37 | 77.26 | 79.85 | 81.31 | 75.96 | 88.05 | 94.29 | 92.87 | 94.58 | 96.61 | 86.78 | 84.45 |
Research & Development | 32.49 | 37 | 43.31 | 47.06 | 47.49 | 44.84 | 46.15 | 45.34 | 50.41 | 52.47 | 52.92 | 46.22 | 43.42 | 43.25 | 44.48 | 41.66 | 38.9 | 35.83 | 38.16 | 33.47 |
Other Operating Expenses | 1.18 | 2.55 | 2.22 | 1.72 | 2.39 | 1.77 | 2.26 | 2.23 | 1.8 | 1.77 | 0.93 | 2.11 | 1.62 | 2.55 | 6.7 | 6.24 | 10.14 | 6.65 | 2.13 | 2.35 |
Operating Expenses | 96.7 | 104.85 | 118.12 | 126.44 | 124.23 | 116.44 | 112.21 | 116.67 | 129.58 | 131.5 | 133.7 | 129.64 | 120.99 | 133.85 | 145.47 | 140.77 | 143.61 | 139.09 | 127.07 | 120.27 |
Operating Income | 44.59 | 41.8 | 32.72 | 28.29 | 31.66 | 35.07 | 38.69 | 32.51 | 20.79 | 17.78 | 13.05 | 8.43 | 11.47 | -6.12 | -25.04 | -20.48 | -25.44 | -23.05 | -23.65 | -20.47 |
Interest Expense | -0.54 | -0.7 | -0.7 | -1.05 | -0.69 | -0.69 | -0.69 | -0.66 | -0.7 | -0.69 | -0.69 | -0.82 | -0.7 | -0.2 | - | - | -1.12 | -1.12 | -1.13 | -1.13 |
Interest & Investment Income | 4.59 | 5.02 | 5.85 | 6.84 | 6.8 | 6.72 | 7.1 | 6.36 | 7.7 | 6.17 | 7.69 | 7.52 | 6.6 | 4.8 | - | 9.86 | - | - | - | 0.78 |
Currency Exchange Gain (Loss) | - | - | - | 0.5 | - | - | - | 0.1 | - | - | - | 0.5 | - | - | - | -0.2 | - | - | - | -0.5 |
Other Non Operating Income (Expenses) | -0.1 | -0.17 | -0.15 | -0.53 | -0.19 | -0.16 | -0.1 | -0.75 | 1.09 | 0.14 | -0.27 | 0.18 | -0.13 | -0.62 | 4.05 | -5.24 | 1.77 | 0.38 | 0.07 | 0.16 |
EBT Excluding Unusual Items | 48.54 | 45.94 | 37.71 | 34.05 | 37.58 | 40.94 | 45.01 | 37.56 | 28.88 | 23.4 | 19.77 | 15.82 | 17.23 | -2.13 | -20.98 | -16.06 | -24.79 | -23.79 | -24.71 | -21.15 |
Merger & Restructuring Charges | -10 | -13.84 | - | - | -1.9 | -2.5 | - | -19.19 | - | - | - | - | - | - | - | - | - | - | - | - |
Asset Writedown | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1.34 |
Other Unusual Items | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 38.95 | - | - | - | - | - |
Pretax Income | 38.54 | 32.1 | 37.71 | 34.05 | 35.68 | 38.44 | 45.01 | 18.37 | 28.88 | 23.4 | 19.77 | 15.82 | 17.23 | -2.13 | 17.96 | -16.06 | -24.79 | -23.79 | -24.71 | -22.49 |
Income Tax Expense | 6.73 | 6.7 | 6.25 | 18.42 | 6.34 | 5.72 | 7.28 | -128.8 | 1.13 | 1.18 | 1.33 | -1.56 | 0.9 | 1.86 | 0.8 | 0.44 | 0.04 | 0.03 | 0.03 | 0.06 |
Net Income | 31.81 | 25.4 | 31.46 | 15.63 | 29.34 | 32.73 | 37.73 | 147.17 | 27.76 | 22.22 | 18.44 | 17.37 | 16.34 | -3.99 | 17.17 | -16.5 | -24.83 | -23.82 | -24.74 | -22.56 |
Net Income to Common | 31.81 | 25.4 | 31.46 | 15.63 | 29.34 | 32.73 | 37.73 | 147.17 | 27.76 | 22.22 | 18.44 | 17.37 | 16.34 | -3.99 | 17.17 | -16.5 | -24.83 | -23.82 | -24.74 | -22.56 |
Net Income Growth (YoY) | 8.44% | -22.37% | -16.61% | -89.38% | 5.68% | 47.28% | 104.59% | 747.05% | 69.91% | - | 7.43% | - | - | - | - | - | - | - | - | - |
Shares Outstanding (Basic) | 125 | 124 | 128 | 131 | 132 | 132 | 135 | 134 | 133 | 131 | 136 | 137 | 135 | 134 | 133 | 132 | 131 | 130 | 129 | 129 |
Shares Outstanding (Diluted) | 128 | 130 | 136 | 139 | 140 | 140 | 143 | 143 | 139 | 138 | 144 | 144 | 137 | 134 | 136 | 132 | 131 | 130 | 129 | 129 |
Shares Change (YoY) | -8.16% | -7.30% | -4.99% | -2.57% | 0.27% | 1.40% | -0.61% | -0.49% | 1.46% | 3.07% | 5.66% | 9.09% | 4.94% | 3.14% | 5.11% | 2.43% | 2.28% | 2.62% | 3.26% | 4.29% |
EPS (Basic) | 0.25 | 0.21 | 0.25 | 0.12 | 0.22 | 0.25 | 0.28 | 1.10 | 0.21 | 0.17 | 0.14 | 0.13 | 0.12 | -0.03 | 0.13 | -0.13 | -0.19 | -0.18 | -0.19 | -0.18 |
EPS (Diluted) | 0.25 | 0.20 | 0.24 | 0.11 | 0.21 | 0.24 | 0.27 | 1.03 | 0.20 | 0.17 | 0.13 | 0.12 | 0.12 | -0.03 | -0.15 | -0.13 | -0.19 | -0.18 | -0.19 | -0.18 |
EPS Growth (YoY) | 17.09% | -15.87% | -11.98% | -88.88% | 5.00% | 43.65% | 101.98% | 752.87% | 69.97% | - | - | - | - | - | - | - | - | - | - | - |
Additional Metrics
Fiscal Quarter | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 61.8 | 45.26 | 21.3 | 63.25 | 74.6 | 70.13 | 34.49 | 37.03 | 59.76 | 38.61 | 14.64 | 20.01 | 36.53 | 4.33 | -8.86 | 8.1 | 9.74 | -0.86 | -11.67 | -12.91 |
Free Cash Flow Per Share | 0.48 | 0.35 | 0.16 | 0.45 | 0.53 | 0.50 | 0.24 | 0.26 | 0.43 | 0.28 | 0.10 | 0.14 | 0.27 | 0.03 | -0.07 | 0.06 | 0.07 | -0.01 | -0.09 | -0.10 |
Gross Margin | 76.13% | 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% |
Operating Margin | 24.03% | 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% |
Profit Margin | 17.14% | 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% |
Free Cash Flow Margin | 33.30% | 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% |
EBITDA | 48.65 | 45.48 | 36.32 | 31.52 | 35.8 | 37.14 | 40.95 | 34.07 | 21.86 | 18.81 | 14.1 | 9.14 | 12.13 | -5.36 | -24.21 | -19.73 | -24.66 | -22.23 | -22.84 | -19.59 |
EBITDA Margin | 26.21% | 23.73% | 18.58% | 15.88% | 17.75% | 19.05% | 21.25% | 17.79% | 11.28% | 9.74% | 7.38% | 4.97% | 6.90% | -3.18% | -15.05% | -12.22% | -15.54% | -14.17% | -16.16% | -14.32% |
D&A For EBITDA | 4.05 | 3.68 | 3.6 | 3.22 | 4.15 | 2.08 | 2.26 | 1.57 | 1.07 | 1.03 | 1.05 | 0.71 | 0.66 | 0.75 | 0.82 | 0.75 | 0.78 | 0.82 | 0.81 | 0.87 |
EBIT | 44.59 | 41.8 | 32.72 | 28.29 | 31.66 | 35.07 | 38.69 | 32.51 | 20.79 | 17.78 | 13.05 | 8.43 | 11.47 | -6.12 | -25.04 | -20.48 | -25.44 | -23.05 | -23.65 | -20.47 |
EBIT Margin | 24.03% | 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% |
Effective Tax Rate | 17.47% | 20.87% | 16.57% | 54.09% | 17.77% | 14.87% | 16.17% | - | 3.90% | 5.05% | 6.72% | - | 5.19% | - | 4.43% | - | - | - | - | - |