UPWK · XBRL financial data

Upwork financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (UPWK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	374	503	618	689	769	788
Cost of revenue	3	—	—	—	—	—
Cost of goods and services sold	104	136	160	170	174	175
Gross profit	269	367	458	519	595	613
Research and development	83	119	155	177	209	186
General and administrative	72	113	124	119	129	147
Total operating expenses	292	422	551	530	530	484
Operating income (loss)	(22)	(54)	(93)	(11)	65	129
Interest income	—	—	8	24	28	27
Interest expense	1	2	4	—	—	—
Other income (expense)	0	0	8	60	25	24
Income tax expense (benefit)	0	0	1	2	(125)	38
Net income (loss)	(23)	(56)	(90)	47	216	115
Earnings per share, basic USD per share	(0.19)	(0.44)	(0.69)	0.35	1.61	0.87
Earnings per share, diluted USD per share	(0.19)	(0.44)	(0.69)	0.06	1.52	0.84
Weighted average shares, basic millions of shares	119	127	131	135	134	132
Weighted average shares, diluted millions of shares	119	127	131	137	143	141

Fiscal years (UPWK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	94	187	129	80	306	294
Marketable securities	76	498	557	470	316	378
Accounts receivable	47	67	65	103	75	76
Prepaid and other current assets	9	17	18	18	18	21
Total current assets	361	930	931	883	911	951
Property and equipment, net	28	21	22	27	30	44
Right-of-use asset	20	11	8	4	6	5
Goodwill	118	118	118	118	121	149
Total assets	529	1,081	1,080	1,038	1,212	1,300
Accounts payable	6	5	8	5	6	8
Current portion of long-term debt	8	0	—	—	0	360
Total current liabilities	199	234	248	293	268	650
Long-term debt	3	561	564	356	358	0
Lease liability, non-current	21	17	11	6	10	10
Total liabilities	230	822	831	656	636	669
Retained earnings (accumulated deficit)	(195)	(251)	(341)	(294)	(78)	37
Total stockholders' equity	299	260	249	381	575	630
Total liabilities and equity	529	1,081	1,080	1,038	1,212	1,300
Common shares outstanding (cover page) millions of shares	125	129	132	137	135	130

Fiscal years (UPWK's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(23)	(56)	(90)	47	216	115
Stock-based compensation	26	54	76	74	68	65
Depreciation and amortization	—	—	8	9	15	26
Net cash from operating activities	22	11	7	27	154	248
Purchases of property and equipment	6	1	1	1	4	6
Net cash from investing activities	(4)	(429)	(69)	88	138	(137)
Share repurchases	—	—	0	0	100	136
Net cash from financing activities	55	538	6	(114)	(82)	(138)
Net change in cash	73	120	(57)	1	209	(27)

SIC 7374 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 7374 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Upwork	228	186	66*	125.8M	—	Q3 FY26 10-QSep 30, 2026
Jamf Holding	547	183	66*	133.2M	—	Q3 FY25 10-QSep 30, 2025
DigitalOcean Holdings	666	321	161*	118.0M	—	Q3 FY26 10-QSep 30, 2026
Blackbaud	36	293	142*	45.0M	—	Q3 FY26 10-QSep 30, 2026
RUM Group	203	40	(50)*	not reported	4.1 quarters	Q2 FY26 10-QJun 30, 2026
CarGurus	122	251	95*	not reported	—	Q2 FY26 10-QJun 30, 2026
Innodata	240	92	127*	34.4M	—	Q2 FY26 10-QJun 30, 2026
Netscout Systems	553	210	51	72.7M	—	Q1 FY26 10-QJun 30, 2026
Appian	121	203	12*	71.8M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.