UPWORK, INC
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $787.8M | $769.3M | $689.1M | $618.3M | $502.8M |
| Gross profit | $613.0M | $595.2M | $518.7M | $457.9M | $367.3M |
| Operating income | $129.3M | $65.2M | -$11.3M | -$92.6M | -$54.2M |
| Operating expenses | $483.7M | $530.0M | $529.9M | $550.5M | $421.5M |
| Cost of revenue | $174.8M | $174.1M | $170.4M | $160.4M | $135.5M |
| Cash from operations | $248.3M | $153.6M | $52.7M | $11.5M | $10.8M |
| Capital expenditure | $5.8M | $3.5M | $692,000 | $1.2M | $1.0M |
| Free cash flow | $242.5M | $150.0M | $52.0M | $10.2M | $9.8M |
| Share repurchases | $136.0M | $100.0M | $0 | $0 | — |
| Impairments | $0 | $0 | $0 | $0 | $8.7M |
| Total assets | $1.3B | $1.2B | $1.0B | $1.1B | $1.1B |
| Total liabilities | $669.3M | $636.2M | $656.5M | $831.4M | $821.5M |
| Total debt | $361.0M | $361.0M | $361.0M | $575.0M | $575.0M |
Shares outstanding 123.5M · Free float 95.1%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.