UPWK · Upwork, Inc · Financials

$8.75 +0.23 (+2.70%) At close · Oct 20

S&P 600 member Russell 2000 member Rebalance outlook locked

Market Cap

$1.08B

124.90M

Volume · Oct 20 2.45M Avg daily vol (3M) 3.05M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Pull these statements through the financial statements API or MCP →

Revenue

$787.78M +2.4%

FY2025

Net Income

$115.43M -46.5%

FY2025

Gross Margin

77.82% +0.4pp

FY2025

Operating Margin

16.41% +7.9pp

FY2025

Diluted EPS

$0.84 -44.7%

FY2025

Operating Cash Flow

$248.26M +61.7%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	+8.4%	+16.1%	—	$730M – $750M	$787.28M	$787.78M^G	$769.33M^G	$689.14M^G	$618.32M^G	$502.8M^G	$373.63M	$300.56M	$253.35M	$202.55M	$164.45M
Net Interest Income	—	—	—	—	—	—	—	$24.4M	$7.9M	$300K	—	—	—	—	—
Cost of Revenue	+2.9%	+127.0%	—	—	$179.44M	$174.75M	$174.09M	$170.45M	$160.4M	$135.51M	$2.9M	$900K	$81.46M	$65.44M	$62.58M
Gross Profit	+10.2%	+17.9%	—	—	$607.84M	$613.03M	$595.23M	$518.69M	$457.92M	$367.29M	$269.36M	$212.42M	$171.9M	$137.11M	$101.87M
Gross Margin	—	—	—	—	—	77.82%	77.37%	75.27%	74.06%	73.05%	72.09%	70.67%	67.85%	67.69%	61.95%
Research & Development	+6.3%	+17.3%	—	—	$181.75M	$185.54M	$209.28M	$177.36M	$154.55M	$119.08M	$83.47M	$64.03M	$55.49M	$45.6M	$37.9M
Selling & Marketing	-16.6%	+1.5%	—	—	$143.34M	$143.41M	$185.21M	$220.68M	$246.88M	$183.29M	$133.23M	$95.89M	$72.96M	$53.04M	$37.44M
General & Administrative	+5.8%	+15.4%	—	—	$154.96M	$146.63M	$128.8M	$118.93M	$123.95M	$113.08M	$71.52M	$67.33M	$49.34M	$37.33M	$35.45M
Amortization of Intangibles	—	+28.3%	—	—	—	$9.4M	$2.1M	$0	$0	$700K	$2.7M	$2.7M	$2.7M	$2.7M	$5.7M
Depreciation & Amortization	+47.2%	—	—	—	$32.85M	$25.71M	$14.81M	$9.45M	$8.06M	—	—	—	—	—	—
Total Operating Expenses	-4.2%	+10.6%	—	—	$488.93M	$483.73M	$530.03M	$529.95M	$550.54M	$421.51M	$291.77M	$231.15M	$183.61M	$140.23M	$116.34M
Operating Income	—	—	—	—	$118.91M	$129.31M	$65.21M	-$11.26M	-$92.62M	-$54.22M	-$22.41M	-$18.73M	-$11.71M	-$3.12M	-$14.47M
Operating Margin	—	—	—	—	—	16.41%	8.48%	-1.63%	-14.98%	-10.78%	-6%	-6.23%	-4.62%	-1.54%	-8.8%
EBITDA	—	—	—	—	$151.76M	$155.02M	$80.02M	-$1.81M	-$84.57M	—	—	—	—	—	—
Interest Expense	+50.8%	+36.1%	—	—	$3.65M	—	—	—	$4.48M	$2.18M	$778K	$1.31M	$2.04M	$960K	$858K
Interest Income	+51.4%	—	—	—	$24.4M	$27.4M	$28M	$24.4M	$7.9M	—	—	—	—	—	—
Other Non-Operating Income	+93.9%	+119.4%	—	—	$20.63M	$23.87M	$25.22M	$60.14M	$3.28M	-$1.9M	$469K	$3.41M	-$6.14M	-$62K	-$908K
Pretax Income	—	—	—	—	$139.54M	$153.18M	$90.43M	$48.88M	-$89.35M	-$56.12M	-$22.72M	-$16.63M	-$19.89M	-$4.15M	-$16.23M
Income Tax	+313.0%	+202.1%	—	—	$37.71M	$37.75M	-$125.16M	$1.99M	$536K	$122K	$150K	$28K	$15K	-$22K	-$1000
Net Income	—	—	—	—	$101.83M	$115.43M	$215.59M	$46.89M	-$89.89M	-$56.24M	-$22.87M	-$16.66M	-$19.91M	-$4.12M	-$16.23M
Net Margin	—	—	—	—	—	14.65%	28.02%	6.8%	-14.54%	-11.19%	-6.12%	-5.54%	-7.86%	-2.04%	-9.87%
Net Income Available to Common Stockholders	—	—	—	—	$101.83M	$115.43M	$215.59M	$46.89M	-$89.89M	-$56.24M	—	-$16.66M	-$19.91M	-$10.63M	-$16.23M
Comprehensive Income	—	—	—	—	$101.07M	$115.92M	$215.65M	$50.18M	-$92.44M	-$56.79M	-$22.89M	—	—	—	—
EPS (Basic) USD/shares	—	—	—	—	$0.80	$0.87	$1.61	$0.35	-$0.69	-$0.44	-$0.19	-$0.15	—	—	—
EPS (Diluted) USD/shares	—	—	—	$1.38 – $1.43*	$0.77	$0.84^G	$1.52^G	$0.06^G	-$0.69^G	-$0.44	-$0.19	-$0.15	—	—	—
Shares Outstanding (Basic Avg) shares	+0.5%	+2.2%	—	—	—	132.49M	133.62M	134.77M	130.52M	127.16M	118.7M	109.81M	52.33M	32.94M	32.07M
Shares Outstanding (Diluted Avg) shares	+2.5%	+3.5%	—	—	—	140.66M	143.15M	137.26M	130.52M	127.16M	118.7M	109.81M	52.33M	32.94M	32.07M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2022–FY2025: $235.96M in buybacks.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Current operating lease liabilities	2026-06-30	USD 4,349,000	10-Q filed 2026-08-10
Long-term debt, including current maturities	2026-06-30	USD 360,691,000	10-Q filed 2026-08-10
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current portion of long-term debt USD 360,691,000 Line of credit borrowings, including current maturities USD 0
Noncurrent operating lease liabilities	2026-06-30	USD 14,367,000	10-Q filed 2026-08-10

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

1.06×

Peer median 1.34×

EV/EBIT

6.99×

Peer median 11.59×

P/E (TTM)

11.27×

Peer median 12.43×

EV/Adj. EBITDA (FY2025)

3.68×

Peer median 9.30×

Peer medians compare against the 28 similar-size Internet Content & Information companies (of 60 listed).

EV/Adj. EBITDA uses the company-stated “Adjusted EBITDA”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

EV/Adj. EBITDA uses the company-stated “Adjusted EBITDA”, extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022
Reportable Segment	$787,784,000	$769,325,000	$689,136,000	$618,318,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Enterprise	$682,883,000	$662,108,000	$586,099,000	$518,282,000	—	—	—	—
Marketplace	$104,901,000	$107,217,000	$103,037,000	$100,036,000	$427,476,000	—	—	$223,831,000
Enterprise and Managed Services	—	—	—	—	$75,321,000	—	—	—
Managed Services	—	—	—	—	—	$35,476,000	$32,278,000	$29,523,000
Marketplace Basic Plus and Other	—	—	—	—	—	$317,942,000	$253,099,000	—
Marketplace Enterprise	—	—	—	—	—	$20,210,000	$15,185,000	—

Key facts CIK 1627475 CUSIP 91688F104 13F (30d) 27 filings 27 filers Visit website Investor relations