Company research
UPWORK, INC
CIK 1627475Updated Sep 24, 2026
SecurityUPWK · NASDAQ · equity
Name history
Upwork Inc. · through Apr 20, 2021
UPWK price & chart
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NASDAQ:UPWK on TradingView ↗In the news
Securities Fraud Investigation Into Upwork Inc. (UPWK) Continues – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz ↗
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Upwork Inc. - UPWK ↗
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Upwork Inc. - UPWK ↗
Recent filings
Show 5 more recent filings
144 filing
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 1,299,580,000Source | 1,211,613,000Source | 1,037,541,000Source | 1,080,245,000Source |
| Property, Plant and Equipment, NetUSD | 44,421,000Source | 30,056,000Source | 27,140,000Source | 22,063,000Source |
| GoodwillUSD | 149,192,000Source | 121,064,000Source | 118,219,000Source | 118,219,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 294,356,000Source | 305,757,000Source | 79,641,000Source | 129,384,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 76,236,000Source | 75,490,000Source | 103,061,000Source | 64,888,000Source |
| Assets, CurrentUSD | 950,833,000Source | 911,054,000Source | 883,371,000Source | 930,906,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 21,064,000Source | 17,727,000Source | 17,825,000Source | 17,947,000Source |
| Operating Lease, Right-of-Use AssetUSD | 5,011,000Source | 5,752,000Source | 4,333,000Source | 7,603,000Source |
| Other Assets, NoncurrentUSD | 1,467,000Source | 1,919,000Source | 1,430,000Source | 1,454,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 669,265,000Source | 636,236,000Source | 656,466,000Source | 831,366,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 13,000Source | 14,000Source | 14,000Source | 13,000Source |
| Retained Earnings (Accumulated Deficit)USD | 36,949,000Source | -78,476,000Source | -294,062,000Source | -340,949,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 754,000Source | 264,000Source | 205,000Source | -3,085,000Source |
| Stockholders' Equity Attributable to ParentUSD | 630,315,000Source | 575,377,000Source | 381,075,000Source | 248,879,000Source |
| Additional Paid in Capital, Common StockUSD | 592,599,000Source | 653,575,000Source | 674,918,000Source | 592,900,000Source |
| Liabilities and EquityUSD | 1,299,580,000Source | 1,211,613,000Source | 1,037,541,000Source | 1,080,245,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 650,168,000Source | 268,433,000Source | 293,003,000Source | 247,692,000Source |
| Operating Lease, Liability, CurrentUSD | 1,672,000Source | 1,624,000Source | 5,687,000Source | 6,502,000Source |
| Accounts Payable, CurrentUSD | 7,858,000Source | 6,128,000Source | 5,063,000Source | 7,549,000Source |
| Operating Lease, Liability, NoncurrentUSD | 9,707,000Source | 9,567,000Source | 6,088,000Source | 11,177,000Source |
| Other Liabilities, NoncurrentUSD | 9,390,000Source | 308,000Source | 1,288,000Source | 8,236,000Source |
| Additional Financial Items | ||||
| Long-term Debt, Current MaturitiesUSD | 359,770,000Source | — | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | 0Source | 357,928,000Source | 356,087,000Source | 564,261,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 115,425,000Source | 215,586,000Source | 46,887,000Source | -89,885,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 25,710,000Source | 14,813,000Source | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 65,390,000Source | 68,391,000Source | 74,195,000Source | 75,501,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 3,284,000Source | 4,802,000Source | 47,663,000Source | 20,230,000Source |
| Increase (Decrease) in Accounts PayableUSD | -1,160,000Source | 969,000Source | -2,513,000Source | 2,579,000Source |
| Deferred Income Tax Expense (Benefit)USD | 18,493,000Source | -129,258,000Source | 0Source | 0Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 248,259,000Source | 153,563,000Source | 27,221,000Source | 6,559,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 58,406,000Source | 14,333,000Source | — | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -136,939,000Source | 137,568,000Source | 88,270,000Source | -69,468,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 5,790,000Source | 3,528,000Source | 692,000Source | 1,248,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 135,959,000Source | 100,000,000Source | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -138,005,000Source | -81,956,000Source | -114,304,000Source | 6,082,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -26,685,000Source | 209,175,000Source | 1,187,000Source | -56,827,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 478,908,000Source | 505,593,000Source | 296,418,000Source | 295,231,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 1,227,000Source | 920,000Source | 1,321,000Source | 1,541,000Source |
| Income Taxes Paid, NetUSD | 13,489,000Source | — | — | — |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 65,390,000Source | 68,391,000Source | 74,195,000Source | 75,501,000Source |
| Amortization of Debt Issuance CostsUSD | 1,842,000Source | 1,842,000Source | 2,098,000Source | 2,961,000Source |
| Amortization of Intangible AssetsUSD | 9,400,000Source | 2,100,000Source | 0Source | — |
| Capitalized Computer Software, AmortizationUSD | 14,000,000Source | 9,800,000Source | 6,500,000Source | 4,900,000Source |
| DepreciationUSD | 2,200,000Source | 2,900,000Source | 2,900,000Source | 3,200,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -500,000Source | 100,000Source | 500,000Source | -200,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | — | — | 0Source |
| Gain (Loss) on Extinguishment of DebtUSD | 0Source | 0Source | 38,945,000Source | — |
| General and Administrative ExpenseUSD | 146,629,000Source | 128,803,000Source | 118,925,000Source | 123,952,000Source |
| GoodwillUSD | 149,192,000Source | 121,064,000Source | 118,219,000Source | 118,219,000Source |
| Goodwill, Impairment LossUSD | 0Source | 0Source | 0Source | 0Source |
| Income Tax Expense (Benefit)USD | 37,751,000Source | -125,159,000Source | 1,990,000Source | 536,000Source |
| Investment Income, InterestUSD | 27,400,000Source | 28,000,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | 115,425,000Source | 215,586,000Source | 46,887,000Source | -89,885,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 115,425,000Source | 215,586,000Source | 46,887,000Source | — |
| Operating ExpensesUSD | 483,725,000Source | 530,025,000Source | 529,946,000Source | 550,540,000Source |
| Other Nonoperating Income (Expense)USD | 23,869,000Source | 25,221,000Source | 60,137,000Source | 7,758,000Source |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | 420,436,000Source | 486,892,000Source | 648,800,000Source | — |
| Provision for Loan, Lease, and Other LossesUSD | 6,706,000Source | 5,505,000Source | 8,673,000Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 787,784,000Source | 769,325,000Source | 689,136,000Source | 618,318,000Source |
| Cost of RevenueUSD | 174,752,000Source | 174,094,000Source | 170,450,000Source | 160,402,000Source |
| Operating Income (Loss)USD | 129,307,000Source | 65,206,000Source | -11,260,000Source | -92,624,000Source |
| Other Nonoperating Income (Expense)USD | 23,869,000Source | 25,221,000Source | 60,137,000Source | 7,758,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 153,176,000Source | 90,427,000Source | 48,877,000Source | -89,349,000Source |
| Income Tax Expense (Benefit)USD | 37,751,000Source | -125,159,000Source | 1,990,000Source | 536,000Source |
| Net Income (Loss) Attributable to ParentUSD | 115,425,000Source | 215,586,000Source | 46,887,000Source | -89,885,000Source |
| Earnings Per Share, BasicUSD per share | 0.87Source | 1.61Source | 0.35Source | -0.69Source |
| Earnings Per Share, DilutedUSD per share | 0.84Source | 1.52Source | 0.06Source | -0.69Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 132,485,498Source | 133,620,612Source | 134,774,189Source | 130,517,920Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 140,659,603Source | 143,152,029Source | 137,263,230Source | 130,517,920Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 9,400,000Source | 2,100,000Source | 0Source | — |
| Capitalized Computer Software, AmortizationUSD | 14,000,000Source | 9,800,000Source | 6,500,000Source | 4,900,000Source |
| Current Income Tax Expense (Benefit)USD | 19,258,000Source | 4,099,000Source | 1,990,000Source | 536,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -500,000Source | 100,000Source | 500,000Source | -200,000Source |
| General and Administrative ExpenseUSD | 146,629,000Source | 128,803,000Source | 118,925,000Source | 123,952,000Source |
| Goodwill, Impairment LossUSD | 0Source | 0Source | 0Source | 0Source |
| Gross ProfitUSD | 613,032,000Source | 595,231,000Source | 518,686,000Source | 457,916,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 152,596,000Source | 89,556,000Source | 48,662,000Source | -89,440,000Source |
| Interest ExpenseUSD | — | — | — | 4,483,000Source |
| Interest Income (Expense), NetUSD | — | — | 24,400,000Source | — |
| Investment Income, InterestUSD | 27,400,000Source | 28,000,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 115,425,000Source | 215,586,000Source | 46,887,000Source | — |
| Operating ExpensesUSD | 483,725,000Source | 530,025,000Source | 529,946,000Source | 550,540,000Source |
| Research and Development ExpenseUSD | 185,544,000Source | 209,283,000Source | 177,363,000Source | 154,553,000Source |
| Restructuring and Related Cost, Incurred CostUSD | 0Source | 19,186,000Source | — | — |
| Selling and Marketing ExpenseUSD | 143,412,000Source | 185,211,000Source | 220,681,000Source | 246,882,000Source |