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Upwork, Inc (UPWK)

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SEC name UPWORK, INC · CIK 0001627475 · Nasdaq · Services-Computer Processing & Data Preparation

  • Sector Services
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Upwork, Inc reported revenue of $787.78M. Revenue grew 2.4% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $787.28M.

Key ratios (year ended 2025-12-31)

77.8%
Gross margin
16.4%
Operating margin
14.7%
Net margin
18.3%
Return on year-end equity
2.4%
Revenue growth (YoY)

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Latest selected filing: Form 4 (ownership change) · 2026-10-20

Headquarters locality: Palo Alto · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$787.28M$787.78M$769.33M$689.14M$618.32M$502.80M$373.63M$300.56M$253.35M$202.55M$164.44M
Cost of Revenue$179.44M$174.75M$174.09M$170.45M$160.40M$135.51M$104.27M$88.14M$81.46M$65.44M$62.58M
Gross Profit$607.84M$613.03M$595.23M$518.69M$457.92M$367.29M$269.36M$212.42M$171.90M$137.11M$101.87M
R&D Expense$181.75M$185.54M$209.28M$177.36M$154.55M$119.08M$83.47M$64.03M$55.49M$45.60M$37.90M
Operating Income$118.91M$129.31M$65.21M-$11.26M-$92.62M-$54.22M-$22.41M-$18.73M-$11.71M-$3.12M-$14.47M
Depreciation & Amortization$32.85M$25.71M$14.81M$9.45M$8.06Mn/an/an/an/an/an/a
EBITDA$151.76M$155.02M$80.02M-$1.81M-$84.57Mn/an/an/an/an/an/a
Net Income$101.83M$115.42M$215.59M$46.89M-$89.89M-$56.24M-$22.87M-$16.66M-$19.91M-$4.12M-$16.23M
EPS (Diluted)n/a$0.84$1.52$0.06-$0.69-$0.44-$0.19-$0.15n/an/an/a
Total Assets$1.27B$1.30B$1.21B$1.04B$1.08B$1.08B$529.23M$446.38M$391.57M$275.19Mn/a
Total Liabilities$663.14M$669.26M$636.24M$656.47M$831.37M$821.54M$229.92M$186.96M$147.83M$140.07Mn/a
Long-Term Debt$360.69M$359.77M$357.93Mn/an/a$561.30M$10.72M$18.28M$23.91M$33.83Mn/a
Shareholders' Equity$611.27M$630.32M$575.38M$381.07M$248.88M$259.52M$299.31M$259.42M$243.75M-$31.37M-$30.13M
Cash & Equivalents$476.04M$294.36M$305.76M$79.64M$129.38M$187.21M$94.08M$48.39M$129.13M$21.59Mn/a
Operating Cash Flow$208.67M$248.26M$153.56M$52.71M$11.50M$10.84M$22.36M$1.06M$13.74M-$4.00M$3.15M
Capital Expenditures$4.28M$5.79M$3.53M$692.0K$1.25M$1.03M$6.32M$10.75M$3.00M$1.83M$846.0K
Free Cash Flow$204.40M$242.47M$150.03M$52.02M$10.25M$9.81M$16.05M-$9.69M$10.74M-$5.83M$2.30M
Share Repurchases$174.76M$135.96M$100.00M$0$0n/an/an/an/an/an/a
Shares Outstanding124.80M130.55M135.35M137.27M132.37M129.13M124.80M113.60M106.45M33.74Mn/a
Weighted Average Diluted Sharesn/a140.66M143.15M137.26M130.52M127.16M118.70M109.81Mn/an/an/a
EPS (Basic)n/a$0.87$1.61$0.35-$0.69-$0.44-$0.19-$0.15n/an/an/a

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