Upwork (UPWK) Financials: History & Chart

Upwork Inc. (UPWK)UPWKUpwork Inc.

About Upwork Inc.

Upwork Inc., operating alongside its subsidiaries, provides a leading online work marketplace that connects businesses globally with independent professionals and agencies, spanning the United States, India, the Philippines, and other international markets. The platform grants clients access to a vast and diverse pool of talent, covering a wide array of specializations. These include key areas like sales and marketing, customer service, data science and analytics, creative design, and various aspects of web, mobile, and software development. Beyond talent acquisition, the marketplace also streamlines key operational workflows for businesses, such as sourcing candidates, managing outreach, and facilitating contract agreements. To support effective remote collaborations, Upwork offers a suite of functionalities, including robust communication and collaboration tools, simplified invoicing directly through the platform, and comprehensive payment protection. Upwork's marketplace offerings encompass various service tiers, such as Upwork Basic, Plus, Enterprise, and Payroll solutions, alongside managed and internet escrow agency services. Originally incorporated in 2013 and initially known as Elance-oDesk, Inc., the company rebranded to Upwork Inc. in May 2015. It maintains its headquarters in San Francisco, California.

Palo Alto, CA

630 employees

www.upwork.com

Industrials / Staffing & Employment Services

Sector: Industrials
Industry: Staffing & Employment Services
CEO: Hayden Brown

View full financials

Financials

SEC Filings

Quarterly Income Statement (USD)

Swipe horizontally to review earlier periods. The line-item column stays pinned.

Quarterly Report	TTM	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024	Quarter ended Jun 2024
Revenue	790.56M	195.48M	198.41M	201.73M	194.94M	192.71M	191.48M	193.78M	193.13M
Cost of Goods Sold	177.59M	44.64M	43.67M	45.84M	43.43M	41.81M	42.64M	43.41M	43.85M
Gross Profit	612.97M	150.84M	154.74M	155.89M	151.51M	150.90M	148.84M	150.37M	149.28M
Gross Profit Margin	77.5%	77.2%	78.0%	77.3%	77.7%	78.3%	77.7%	77.6%	77.3%
Total Operating Expenses	489.64M	118.12M	126.44M	126.13M	118.94M	112.21M	135.26M	129.57M	131.50M
Research & Development	186.50M	43.31M	47.05M	51.29M	44.84M	46.15M	53.49M	50.41M	52.47M
Selling, General & Administrative	296.94M	72.59M	77.67M	74.34M	72.33M	63.80M	79.54M	77.37M	77.26M
Operating Income (EBIT)	123.33M	32.72M	28.29M	29.76M	32.56M	38.69M	13.58M	20.79M	17.78M
Operating Margin	15.6%	16.7%	14.3%	14.8%	16.7%	20.1%	7.1%	10.7%	9.2%
Income Before Tax (EBT)	145.88M	37.71M	34.05M	35.67M	38.44M	45.01M	18.37M	28.88M	23.40M
Interest Income	28.80M	6.50M	7.40M	7.50M	7.40M	7.80M	7.00M	N/A	6.90M
Interest Expense	2.70M	700K	600K	700K	700K	700K	600K	N/A	700K
Other Income/Expense	22.54M	4.99M	5.76M	5.92M	5.88M	6.32M	4.79M	8.09M	5.62M
Net Income	109.16M	31.46M	15.63M	29.34M	32.73M	37.73M	147.17M	27.76M	22.22M
Income Tax Expense	36.72M	6.25M	18.42M	6.34M	5.72M	7.28M	-128.79M	1.13M	1.18M
Net Profit Margin	13.8%	16.1%	7.9%	14.5%	16.8%	19.6%	76.9%	14.3%	11.5%
EBITDA	150.24M	42.21M	35.49M	33.90M	38.63M	43.75M	19.50M	24.04M	22.27M
EBITDA Margin	19.0%	21.6%	17.9%	16.8%	19.8%	22.7%	10.2%	12.4%	11.5%
Depreciation & Amortization	26.91M	9.50M	7.20M	4.15M	6.06M	5.06M	5.92M	3.25M	4.49M
EPS Basic	0.84	0.25	0.12	0.22	0.25	0.28	1.10	0.21	0.17
EPS Diluted	0.80	0.24	0.11	0.21	0.24	0.27	1.03	0.20	0.17
Shares Outstanding	128.10M	128.10M	130.62M	136.98M	132.18M	135.21M	134.26M	132.60M	131.44M
Diluted Shares Outstanding	135.70M	135.70M	139.41M	139.67M	140.20M	142.78M	143.10M	139.29M	138.27M

Annual Income Statement (USD)

Swipe horizontally to review earlier years. The line-item column stays pinned.

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	787.78M	769.33M	689.14M	618.32M	502.80M	373.63M	300.56M	253.35M
Cost of Goods Sold	174.75M	174.09M	170.45M	160.40M	135.51M	104.27M	88.14M	81.46M
Gross Profit	613.03M	595.23M	518.69M	457.92M	367.29M	269.36M	212.42M	171.90M
Gross Profit Margin	77.8%	77.4%	75.3%	74.1%	73.0%	72.1%	70.7%	67.8%
Total Operating Expenses	483.73M	530.02M	529.95M	550.54M	421.51M	291.77M	231.15M	183.61M
Research & Development	189.34M	209.28M	177.36M	154.55M	119.08M	83.47M	64.03M	55.49M
Selling, General & Administrative	288.14M	314.01M	339.61M	370.83M	296.38M	204.74M	163.22M	122.30M
Operating Income (EBIT)	129.31M	65.21M	-11.26M	-92.62M	-54.22M	-22.41M	-18.73M	-11.71M
Operating Margin	16.4%	8.5%	-1.6%	-15.0%	-10.8%	-6.0%	-6.2%	-4.6%
Income Before Tax (EBT)	153.18M	90.43M	48.88M	-89.35M	-56.12M	-22.72M	-16.63M	-19.89M
Interest Income	13.50M	30.70M	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	700K	2.70M	N/A	4.48M	2.18M	778K	1.31M	2.04M
Other Income/Expense	23.87M	25.22M	60.14M	3.27M	-1.90M	-309K	2.10M	-8.18M
Net Income	115.42M	215.59M	46.89M	-89.89M	-56.24M	-22.87M	-16.66M	-19.91M
Income Tax Expense	37.75M	-125.16M	1.99M	536K	122K	150K	28K	15K
Net Profit Margin	14.7%	28.0%	6.8%	-14.5%	-11.2%	-6.1%	-5.5%	-7.9%
EBITDA	151.78M	82.86M	1.46M	-81.49M	-40.41M	-8.38M	-9.29M	-6.76M
EBITDA Margin	19.3%	10.8%	0.2%	-13.2%	-8.0%	-2.2%	-3.1%	-2.7%
Depreciation & Amortization	22.47M	17.65M	12.72M	11.14M	13.81M	14.03M	9.45M	4.95M
EPS Basic	0.87	1.61	0.35	-0.69	-0.44	-0.19	-0.15	-0.19
EPS Diluted	0.83	1.52	0.34	-0.69	-0.44	-0.19	-0.15	-0.19
Shares Outstanding	130.62M	133.62M	134.77M	130.52M	127.16M	118.70M	109.81M	103.72M
Diluted Shares Outstanding	139.41M	143.15M	137.26M	130.52M	127.16M	118.70M	109.81M	103.72M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.