# Upwork, Inc: overview

UPWK · Nasdaq · CIK 1627475 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/upwk.md) · [Financials](/companies/upwk/financials.md) · [Filings](/companies/upwk/filings.md) · [Insiders](/companies/upwk/insiders.md)

Latest reported revenue: [$191.7m](/filings/0001627475-26-000047.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001627475-26-000047).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [194](/filings/0001627475-25-000058.md) | [191 d](/filings/0001627475-26-000012.md) | [193](/filings/0001627475-26-000034.md) | [195](/filings/0001627475-26-000047.md) | [202](/filings/0001627475-25-000058.md) | [198 d](/filings/0001627475-26-000012.md) | [195](/filings/0001627475-26-000034.md) | [192](/filings/0001627475-26-000047.md) |
| Gross margin | % | [77.6%](/filings/0001627475-25-000058.md) | [77.7% d](/filings/0001627475-26-000012.md) | [78.3%](/filings/0001627475-26-000034.md) | [77.7%](/filings/0001627475-26-000047.md) | [77.3%](/filings/0001627475-25-000058.md) | [78.0% d](/filings/0001627475-26-000012.md) | [77.2%](/filings/0001627475-26-000034.md) | [76.4%](/filings/0001627475-26-000047.md) |
| Operating margin | % | [10.7%](/filings/0001627475-25-000058.md) | [7.1% d](/filings/0001627475-26-000012.md) | [20.1%](/filings/0001627475-26-000034.md) | [16.7%](/filings/0001627475-26-000047.md) | [14.8%](/filings/0001627475-25-000058.md) | [14.3% d](/filings/0001627475-26-000012.md) | [16.7%](/filings/0001627475-26-000034.md) | [14.7%](/filings/0001627475-26-000047.md) |
| Net margin | % | [14.3%](/filings/0001627475-25-000058.md) | [76.9% d](/filings/0001627475-26-000012.md) | [19.6%](/filings/0001627475-26-000034.md) | [16.8%](/filings/0001627475-26-000047.md) | [14.5%](/filings/0001627475-25-000058.md) | [7.9% d](/filings/0001627475-26-000012.md) | [16.1%](/filings/0001627475-26-000034.md) | [13.3%](/filings/0001627475-26-000047.md) |
| Diluted EPS | $ per share | [0.20](/filings/0001627475-25-000058.md) | not reported | [0.27](/filings/0001627475-26-000034.md) | [0.24](/filings/0001627475-26-000047.md) | [0.21](/filings/0001627475-25-000058.md) | not reported | [0.24](/filings/0001627475-26-000034.md) | [0.20](/filings/0001627475-26-000047.md) |
| Free cash flow | $m | [59.8 d](/filings/0001627475-25-000058.md) | [37.0 d](/filings/0001627475-26-000012.md) | [34.5](/filings/0001627475-26-000034.md) | [70.1 d](/filings/0001627475-26-000047.md) | [74.6 d](/filings/0001627475-25-000058.md) | [63.2 d](/filings/0001627475-26-000012.md) | [21.3](/filings/0001627475-26-000034.md) | [45.3 d](/filings/0001627475-26-000047.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [503](/filings/0001627475-24-000012.md) | [618](/filings/0001627475-25-000011.md) | [689](/filings/0001627475-26-000012.md) | [769](/filings/0001627475-26-000012.md) | [788](/filings/0001627475-26-000012.md) |
| Gross margin | % | [73.0%](/filings/0001627475-24-000012.md) | [74.1%](/filings/0001627475-25-000011.md) | [75.3%](/filings/0001627475-26-000012.md) | [77.4%](/filings/0001627475-26-000012.md) | [77.8%](/filings/0001627475-26-000012.md) |
| Operating margin | % | [(10.8%)](/filings/0001627475-24-000012.md) | [(15.0%)](/filings/0001627475-25-000011.md) | [(1.6%)](/filings/0001627475-26-000012.md) | [8.5%](/filings/0001627475-26-000012.md) | [16.4%](/filings/0001627475-26-000012.md) |
| Net margin | % | [(11.2%)](/filings/0001627475-24-000012.md) | [(14.5%)](/filings/0001627475-25-000011.md) | [6.8%](/filings/0001627475-26-000012.md) | [28.0%](/filings/0001627475-26-000012.md) | [14.7%](/filings/0001627475-26-000012.md) |
| Diluted EPS | $ per share | [(0.44)](/filings/0001627475-24-000012.md) | [(0.69)](/filings/0001627475-25-000011.md) | [0.06](/filings/0001627475-26-000012.md) | [1.52](/filings/0001627475-26-000012.md) | [0.84](/filings/0001627475-26-000012.md) |
| Free cash flow | $m | [9.8](/filings/0001627475-24-000012.md) | [10.2](/filings/0001627475-25-000011.md) | [52.0](/filings/0001627475-26-000012.md) | [150](/filings/0001627475-26-000012.md) | [242](/filings/0001627475-26-000012.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/upwk/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $161.0m | 19,259,723 |  | Added +403,601 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $66.0m | 7,898,745 |  | Added +124,397 |
| [Ancient Art, L.P.](/funds/1426749.md) | 2026-06-30 | $60.4m | 7,228,530 |  | Added +1,268,621 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $44.4m | 5,313,767 |  | Reduced −298,931 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $43.4m | 5,195,259 |  | Added +69,917 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $40.6m | 4,857,612 |  | Added +134,054 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $39.7m | 4,743,484 |  | Added +1,027,868 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $35.7m | 4,270,252 |  | Added +1,719,424 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $27.2m | 3,253,955 |  | Added +110,675 |
| [RICE HALL JAMES & ASSOCIATES, LLC](/funds/1230765.md) | 2026-06-30 | $23.2m | 2,776,805 |  | Added +1,468,638 |

## Recent filings

[All 745 filings](/companies/upwk/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-10 | 16:50 ET | [10-Q](/filings/0001627475-26-000047.md) | Quarterly report, period 2026-06-30 | 0001627475-26-000047 |
| 2026-08-10 | 16:45 ET | [8-K](/filings/0001627475-26-000046.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001627475-26-000046 |
| 2026-07-16 | 16:22 ET | [8-K](/filings/0001627475-26-000042.md) | 5.02 Departure or appointment of officers or directors | 0001627475-26-000042 |
| 2026-06-23 | 16:45 ET | [8-K](/filings/0001627475-26-000039.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001627475-26-000039 |
| 2026-06-05 | 09:27 ET | [8-K](/filings/0001627475-26-000036.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results | 0001627475-26-000036 |
| 2026-05-07 | 16:36 ET | [10-Q](/filings/0001627475-26-000034.md) | Quarterly report, period 2026-03-31 | 0001627475-26-000034 |
| 2026-05-07 | 16:32 ET | [8-K](/filings/0001627475-26-000033.md) | 2.02 Results of operations; 2.05 Exit or disposal costs; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001627475-26-000033 |
| 2026-04-23 | 09:02 ET | [DEF 14A](/filings/0001627475-26-000026.md) | Proxy statement, period 2026-06-04 | 0001627475-26-000026 |
| 2026-03-18 | 16:05 ET | [8-K](/filings/0001627475-26-000018.md) | 5.02 Departure or appointment of officers or directors | 0001627475-26-000018 |
| 2026-02-18 | 07:11 ET | [8-K](/filings/0001627475-26-000015.md) | 8.01 Other events | 0001627475-26-000015 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001627475-26-000012.md), filed Feb 13, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/f1482d9c-dea7-4271-a121-0240d0597187)

## About the filer

- CIK: 1627475
- Tickers: UPWK
- Exchange: Nasdaq
- SIC code: 7374 Services-Computer Processing & Data Preparation
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 12:36 ET. No prices; not investment advice.