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Upwork Inc. (UPWK)
Communication Services · Internet Content & Information · NasdaqGS
Upwork Inc. (UPWK) posted $787.78M in revenue for fiscal 2025 (up 2.4% year over year), at a 14.7% net margin, and has compounded revenue about 16.1%/yr over five years, per its SEC filings.
Data last refreshed June 15, 2026 from SEC filings · how we compute this
Upwork Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $164.44M | $202.55M | $253.35M | $300.56M | $373.63M | $502.80M | $618.32M | $689.14M | $769.33M | $787.78M |
| Gross profit | $101.87M | $137.11M | $171.90M | $212.42M | $269.36M | $367.29M | $457.92M | $518.69M | $595.23M | $613.03M |
| Net income | $-16.23M | $-4.12M | $-19.91M | $-16.66M | $-22.87M | $-56.24M | $-89.89M | $46.89M | $215.59M | $115.42M |
| Net margin | -9.9% | -2.0% | -7.9% | -5.5% | -6.1% | -11.2% | -14.5% | 6.8% | 28.0% | 14.7% |
Source: Upwork Inc. SEC filings (10-K).
What growth is priced into UPWK stock?
At today's market cap of $1.07B, Upwork Inc. is priced for free-cash-flow growth of about -14.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $242.47M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 72.1%/yr over the last five fiscal years and revenue 16.1%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 10 years of Upwork Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Upwork Inc. financial history by metric
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About Upwork Inc.
Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally. The company offers Upwork Marketplace, a human and AI-powered work marketplace that connects businesses with on-demand access to independent talent across a range of categories, including AI-related projects, administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development. Its marketplace also streamlines workflows, such as talent sourcing, outreach, contracting, and engagement management, as well as provides infrastructure for remote collaboration, including communication and collaboration tools, consolidated invoicing, and payment protection; and Upwork Payroll services. It also offers enterprise solutions that provide access to platform capabilities that support contingent workforce solutions, including sourcing, onboarding, classification, compliance and contract management, payments, and reporting. In addition, the company offers managed services that provide a service-led program management and end-to-end project delivery solution that enables enterprise clients to outsource defined functions or projects; Uma, an AI assistant; and escrow services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was founded in 1998 and is headquartered in Palo Alto, California.
Upwork Inc. — frequently asked questions
What is Upwork Inc.'s revenue?
Upwork Inc. (UPWK) reported revenue of $787.78M for fiscal year 2025, up 2.4% from the prior year, according to its SEC filings.
Is Upwork Inc. profitable?
Yes. UPWK earned net income of $115.42M in fiscal 2025, a net margin of 14.7%.
What is UPWK's P/E ratio?
Upwork Inc. trades at a price-to-earnings ratio of about 10.7 based on the latest data in our nightly-refreshed cache.
How fast is Upwork Inc. growing?
UPWK's revenue grew at roughly 16.1% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Upwork Inc. have?
As of fiscal year 2025, UPWK carried roughly $359.77M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Upwork Inc.'s gross margin?
UPWK's gross margin was 77.8% in fiscal 2025 — gross profit of $613.03M on revenue of $787.78M.
What is Upwork Inc.'s market cap?
Upwork Inc. (UPWK) has a market capitalization of about $1.07B, based on the latest data in our nightly-refreshed cache.
When does Upwork Inc.'s fiscal year end?
UPWK's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into UPWK stock?
At today's market cap of $1.07B, Upwork Inc. is priced for free-cash-flow growth of about -14.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $242.47M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 72.1%/yr over the last five fiscal years and revenue 16.1%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Upwork Inc.'s official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.