UPWORK INC. financials

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UPWK CIK 0001627475

Source: EDGAR filings · Built 2026-06-02T04:17:11Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 242.47M 150.03M 52.02M 10.25M 9.81M 16.05M
EBITDA 155.02M 80.02M -1.81M -84.57M -49.82M -16.11M
Working Capital 300.67M 642.62M 590.37M 683.21M 696.02M 162.05M
Net Debt 76.79M 63.36M 288.22M 452.56M 397.16M -59.13M
Gross Margin 77.82% 77.37% 75.27% 74.06% 73.05% 72.09%
Operating Margin 16.41% 8.48% -1.63% -14.98% -10.78% -6.00%
Net Margin 14.65% 28.02% 6.80% -14.54% -11.19% -6.12%
Return on Equity (ROE) 18.31% 37.47% 12.30% -36.12% -21.67% -7.64%
Return on Assets (ROA) 8.88% 17.79% 4.52% -8.32% -5.20% -4.32%
Current Ratio 1.46× 3.39× 3.01× 3.76× 3.98× 1.82×
Debt-to-Equity 0.59× 0.64× 0.97× 2.34× 2.25× 0.12×
Effective Tax Rate 24.65% -138.41% 4.07% -0.60% -0.22% -0.66%
Cash Conversion Ratio 2.15× 0.71× 1.12× -0.13× -0.19× -0.98×
Accruals Ratio -0.10× 0.05× -0.01× -0.09× -0.06× -0.09×
SBC % of Revenue 8.30% 8.89% 10.77% 12.21% 10.66% 6.83%
CapEx Coverage 42.88× 43.53× 76.17× 9.21× 10.55× 3.54×
Free Cash Flow Per Share $1.72 $1.05 $0.38 $0.08 $0.08 $0.14

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 23.60× 10.76× 247.83× — — —
P/FCF 11.50× 15.60× 39.23× 132.99× 443.06× 255.33×
FCF Yield 8.70% 6.41% 2.55% 0.75% 0.23% 0.39%
EV / EBITDA 17.19× 28.45× — — — —
P/S 3.28× 2.88× 2.96× 2.23× 8.77× 11.53×
P/B 4.10× 3.85× 5.36× 5.55× 17.00× 14.39×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 787.78M 769.33M 689.14M 618.32M 502.80M 373.63M
Cost of Goods and Services Sold 174.75M 174.09M 170.45M 160.40M 135.51M 104.27M
Cost of Revenue — — — — — 2.90M
Gross Profit 613.03M 595.23M 518.69M 457.92M 367.29M 269.36M
Research and Development Expense 185.54M 209.28M 177.36M 154.55M 119.08M 83.47M
Operating Expenses 483.73M 530.02M 529.95M 550.54M 421.51M 291.77M
Operating Income (Loss) 129.31M 65.21M -11.26M -92.62M -54.22M -22.41M
Income Tax Expense (Benefit) 37.75M -125.16M 1.99M 536.00K 122.00K 150.00K
Net Income (Loss) Attributable to Parent 115.42M 215.59M 46.89M -89.89M -56.24M -22.87M
Earnings Per Share, Basic $0.87 $1.61 $0.35 $-0.69 $-0.44 $-0.19
Weighted Average Number of Shares Outstanding, Basic 132.49M 133.62M 134.77M 130.52M 127.16M 118.70M
Earnings Per Share, Diluted $0.84 $1.52 $0.06 $-0.69 $-0.44 $-0.19
Weighted Average Number of Shares Outstanding, Diluted 140.66M 143.15M 137.26M 130.52M 127.16M 118.70M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 294.36M 305.76M 79.64M 129.38M 187.21M 94.08M
Assets, Current 950.83M 911.05M 883.37M 930.91M 929.65M 360.80M
Assets 1.30B 1.21B 1.04B 1.08B 1.08B 529.23M
Long-term Debt 359.77M 357.93M — — 561.30M 10.72M
Liabilities, Current 650.17M 268.43M 293.00M 247.69M 233.63M 198.75M
Long-term Debt, Excluding Current Maturities 0 357.93M 356.09M 564.26M 561.30M 3.14M
Liabilities 669.26M 636.24M 656.47M 831.37M 821.54M 229.92M
Stockholders' Equity Attributable to Parent 630.32M 575.38M 381.07M 248.88M 259.52M 299.31M
Common Stock, Shares, Outstanding 130.55M 135.35M 137.27M 132.37M 129.13M 124.80M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 248.26M 153.56M 52.71M 11.50M 10.84M 22.36M
Payments to Acquire Property, Plant, and Equipment 5.79M 3.53M 692.00K 1.25M 1.03M 6.32M
Net Cash Provided by (Used in) Investing Activities -136.94M 137.57M 88.27M -69.47M -428.98M -4.15M
Payments for Repurchase of Common Stock 135.96M 100.00M 0 0 — —
Net Cash Provided by (Used in) Financing Activities -138.00M -81.96M -139.79M 1.14M 537.74M 54.64M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (UPWK CIK 0001627475), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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