Upwork financials
$8.16+0.74%
Close Sep 30, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $191.7M | $195.5M | $198.4M | $201.7M | $194.9M | $192.7M | $191.5M | $193.8M | $193.1M | $190.9M | $183.9M | $175.7M |
| Gross profit | $146.4M | $150.8M | $154.7M | $155.9M | $151.5M | $150.9M | $148.8M | $150.4M | $149.3M | $146.7M | $138.1M | $132.5M |
| Gross margin | 76.4% | 77.2% | 78.0% | 77.3% | 77.7% | 78.3% | 77.7% | 77.6% | 77.3% | 76.9% | 75.1% | 75.4% |
| Operating income | $28.1M | $32.7M | $28.3M | $29.8M | $32.6M | $38.7M | $13.6M | $20.8M | $17.8M | $13.0M | $8.4M | $11.5M |
| Net income | $25.4M | $32.0M | $15.6M | $29.3M | $32.7M | $38.3M | $147.2M | $27.8M | $22.2M | $18.4M | $17.4M | $16.3M |
| Net margin | 13.3% | 16.4% | 7.9% | 14.5% | 16.8% | 19.9% | 76.9% | 14.3% | 11.5% | 9.7% | 9.4% | 9.3% |
| Diluted EPS | $0.20 | $0.24 | $0.11 | $0.21 | $0.24 | $0.27 | $0.97 | $0.20 | $0.17 | $0.13 | $0.12 | $0.12 |
| EBITDA | $36.9M | $41.8M | $35.3M | $37.7M | $38.4M | $43.6M | $18.0M | $24.5M | $21.4M | $16.2M | $8.4M | $13.2M |
| Operating cash flow | $46.9M | $23.0M | $63.7M | $75.1M | $72.5M | $37.0M | $38.6M | $61.0M | $39.2M | $14.8M | $20.1M | $37.0M |
| Free cash flow | $45.3M | $21.3M | $63.2M | $74.6M | $70.1M | $34.5M | $37.0M | $59.8M | $38.6M | $14.6M | $20.0M | $36.5M |
| Diluted shares | 130.0M | 135.7M | 140.0M | 139.7M | 140.2M | 142.8M | 151.4M | 139.3M | 138.3M | 143.7M | 141.7M | 137.3M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $476.0M | $328.4M | $294.4M | $260.8M | $291.1M | $304.4M |
| Short-term investments | $138.2M | $251.3M | $378.4M | $382.3M | $343.5M | $317.6M |
| Total debt | $360.7M | $360.2M | $359.8M | $359.3M | $358.8M | $358.4M |
| Total assets | $1.27B | $1.24B | $1.30B | $1.31B | $1.26B | $1.24B |
| Total liabilities | $663.1M | $672.3M | $669.3M | $683.1M | $653.1M | $645.7M |
| Shareholders' equity | $611.3M | $569.6M | $630.3M | $628.1M | $608.7M | $594.3M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology