Upwork
UPWK
8.34
-0.07
-0.77%
Upwork
US · UPWK
#3214 by market cap
Listed 2018
8.34
-0.07
-0.77%
Live - 5344 symbols - heartbeat 275s ago
· 2026-10-08 10:10
Pre-market
8.33
-0.83%
After-hours
8.40
0.00%
- Market cap
- 1.04B
- P/E (TTM)i
- 10.69
- P/Bi
- 1.70
- EPSi
- 0.84
- Div yieldi
- 0.00%
- 52W posi
- 6%
Reader sentiment
Are you bullish or bearish on UPWK?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.19, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +2.40% YoY
Margins
- Gross margin
- 77.82%
- Operating margin
- 16.41%
- Net margin
- 14.65%
Key ratios & quality
- Altman Z-Scorei
- 2.19
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 253.35M | 300.56M | 373.63M | 502.80M | 618.32M | 689.14M | 769.33M | 787.78M |
| Gross profit | 171.90M | 212.42M | 269.36M | 367.29M | 457.92M | 518.69M | 595.23M | 613.03M |
| Selling & admin expenses | 122.30M | 163.22M | 204.74M | 296.38M | 370.83M | 339.61M | 314.01M | 290.04M |
| Research & development | 55.49M | 64.03M | 83.47M | 119.08M | 154.55M | 177.36M | 209.28M | 185.54M |
| Operating profit | -11.71M | -18.73M | -22.41M | -54.22M | -92.62M | -11.26M | 65.21M | 129.31M |
| Pretax profit | -19.89M | -16.63M | -22.72M | -56.12M | -89.35M | 48.88M | 90.43M | 153.18M |
| Tax | 15.00K | 28.00K | 150.00K | 122.00K | 536.00K | 1.99M | -125.16M | 37.75M |
| Net profit | -19.91M | -16.66M | -22.87M | -56.24M | -89.89M | 46.89M | 215.59M | 115.43M |
| Basic EPS | 0 | 0 | 0 | 0 | -1 | 0 | 2 | 1 |
| Diluted EPS | -0.38 | -0.15 | -0.19 | -0.44 | -0.69 | 0.06 | 1.52 | 0.84 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 192.71M | 194.94M | 201.73M | 198.41M | 195.48M | 191.66M |
| Gross profit | 150.90M | 151.51M | 155.89M | 154.74M | 150.84M | 146.37M |
| Selling & admin expenses | 63.80M | 72.33M | 76.24M | 77.67M | 72.60M | 71.79M |
| Research & development | 46.15M | 44.84M | 47.49M | 47.06M | 43.31M | 43.89M |
| Operating profit | 38.69M | 32.57M | 29.76M | 28.29M | 32.72M | 28.14M |
| Pretax profit | 45.01M | 38.44M | 35.68M | 34.05M | 37.71M | 32.10M |
| Tax | 7.28M | 5.72M | 6.34M | 18.42M | 6.25M | 6.70M |
| Net profit | 37.73M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | 0.27 | 0.24 | 0.21 | 0.12 | 0.24 | 0.20 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 255.88M | 280.64M | 360.80M | 929.65M | 930.91M | 883.37M | 911.05M | 950.83M |
| Cash & ST investments | 129.13M | 133.87M | 169.65M | 684.77M | 686.61M | 550.10M | 622.10M | 672.78M |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 391.57M | 446.38M | 529.23M | 1.08B | 1.08B | 1.04B | 1.21B | 1.30B |
| Total current liabilities | 127.60M | 149.10M | 198.75M | 233.63M | 247.69M | 293.00M | 268.43M | 650.17M |
| Short-term debt | 5.67M | 10.80M | 11.31M | 6.32M | 6.50M | 5.69M | 1.62M | 361.44M |
| Long-term debt | 18.24M | 10.70M | 3.14M | 561.30M | 564.26M | 356.09M | 357.93M | -- |
| Total liabilities | 147,828,000.00 | 186,956,000.00 | 229,917,000.00 | 821,544,000.00 | 831,366,000.00 | 656,466,000.00 | 636,236,000.00 | 669,265,000.00 |
| Total equity | 243.75M | 259.42M | 299.31M | 259.52M | 248.88M | 381.08M | 575.38M | 630.32M |
| Retained earnings | -143.50M | -171.96M | -194.82M | -251.06M | -340.95M | -294.06M | -78.48M | 36.95M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 938.01M | 938.98M | 948.95M | 950.83M | 883.30M | 908.99M |
| Cash & ST investments | 622.07M | 634.58M | 643.10M | 672.78M | 579.73M | 614.24M |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 1.24B | 1.26B | 1.31B | 1.30B | 1.24B | 1.27B |
| Total current liabilities | 274.70M | 279.62M | 660.48M | 650.17M | 647.20M | 638.25M |
| Short-term debt | 1.64M | 1.65M | 360.97M | 361.44M | 364.28M | 362.46M |
| Long-term debt | 358.39M | 358.85M | -- | -- | -- | -- |
| Total liabilities | 645,724,000.00 | 653,062,000.00 | 683,083,000.00 | 669,265,000.00 | 672,325,000.00 | 663,138,000.00 |
| Total equity | 594.34M | 608.65M | 628.13M | 630.32M | 569.63M | 611.27M |
| Retained earnings | -40.75M | -8.02M | 21.32M | 36.95M | 68.41M | 93.81M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 13.74M | 1.06M | 22.37M | 10.84M | 11.50M | 52.71M | 153.56M | 248.26M |
| Depreciation & amortization | 4.95M | 10.61M | 14.03M | 13.81M | 11.14M | 12.72M | 17.65M | 26.45M |
| Free cash flow | 6.90M | -15.58M | 8.00M | 4.70M | 2.76M | 36.36M | 139.12M | 223.12M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 109.38M | -- | -- | -- | 0 | 0 | -100.00M | -135.96M |
| Ending cash balance | 230.07M | 159.60M | 232.46M | 352.06M | 295.23M | 296.42M | 505.59M | 478.91M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 36.97M | 72.51M | 75.08M | 63.70M | 23.02M | 46.87M |
| Depreciation & amortization | 5.06M | 6.06M | 1.14M | 14.19M | 9.50M | 9.22M |
| Free cash flow | 30.79M | 65.63M | 69.43M | 57.27M | 12.91M | 35.94M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -33.05M | -37.87M | -31.00M | -34.04M | -107.89M | -1.83M |
| Ending cash balance | 524.19M | 506.90M | 476.01M | 478.91M | 535.89M | 673.11M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -18.75 | -6.62 | -8.19 | -20.13 | -35.36 | 14.89 | 45.08 | 19.15 |
| ROA %i | -5.97 | -3.98 | -4.69 | -6.99 | -8.32 | 4.43 | 19.17 | 9.19 |
| ROIC %i | -13.64 | -5.51 | -7.01 | -9.28 | -10.31 | 5.94 | 25.46 | 11.86 |
| 5-year avg ROE %i | -- | -- | -- | -- | -17.81 | -11.08 | -0.74 | 4.73 |
| EBIT margin %i | -7.05 | -5.10 | -5.87 | -10.73 | -13.73 | -1.63 | 8.48 | 16.41 |
| FCF / sales %i | 2.72 | -- | 2.14 | 0.93 | -- | 1.58 | 18.08 | 28.32 |
| Current ratioi | 2.01 | 1.88 | 1.82 | 3.98 | 3.76 | 3.01 | 3.39 | 1.46 |
| Quick ratioi | 1.19 | 1.10 | 1.09 | 3.22 | 3.03 | 2.23 | 2.60 | 1.15 |
| Debt / assetsi | 6.11 | 9.56 | 6.60 | 54.06 | 53.87 | 35.46 | 30.47 | 28.56 |
| LT debt / equityi | 7.48 | 12.29 | 7.90 | 222.74 | 231.21 | 95.04 | 63.87 | 1.54 |
| Interest coveragei | -8.76 | -11.73 | -28.20 | -24.74 | -18.93 | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | 22.27 | 22.64 | 25.67 | 27.18 | 22.64 | 15.23 | 8.41 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -12.03 | -- | 65.64 | 209.36 | 332.18 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 49.80 | 50.61 | 47.52 | 19.15 | 18.76 | 16.70 |
| ROA %i | 20.96 | 21.62 | 20.81 | 9.19 | 8.80 | 8.03 |
| ROIC %i | 27.95 | 28.76 | 27.75 | 11.86 | 11.41 | 10.35 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 11.78 | 13.67 | 14.68 | 16.41 | 15.60 | 15.10 |
| FCF / sales %i | 20.46 | 24.31 | 25.69 | 28.32 | 25.96 | 22.30 |
| Current ratioi | 3.41 | 3.36 | 1.44 | 1.46 | 1.36 | 1.42 |
| Quick ratioi | 2.55 | 2.52 | 1.09 | 1.15 | 1.01 | 1.08 |
| Debt / assetsi | 29.87 | 29.39 | 28.30 | 28.56 | 30.55 | 29.57 |
| LT debt / equityi | 62.05 | 60.66 | 1.61 | 1.54 | 2.67 | 2.35 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Marketplace is the largest reported line at 87.06% of revenue, across 2 reported segments.
- The next-largest line, Enterprise, is a distant second at 12.94% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Marketplace87.06%
Enterprise12.94%
Quote time 2026-10-08 10:10:53 · For reference only, not investment advice and not tailored to your situation.