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Upwork (UPWK) Cost of Revenue (2017 - 2025)

Historic Cost of Revenue for Upwork (UPWK) over the last 9 years, with Q3 2025 value amounting to $45.8 million.

  • Upwork's Cost of Revenue fell 54.24% to $45.8 million in Q3 2025 from the same period last year, while for Sep 2025 it was $175.0 million, marking a year-over-year decrease of 816.77%. This contributed to the annual value of $185.2 million for FY2024, which is 1607.3% down from last year.
  • Upwork's Cost of Revenue amounted to $45.8 million in Q3 2025, which was down 54.24% from $43.4 million recorded in Q2 2025.
  • Over the past 5 years, Upwork's Cost of Revenue peaked at $65.0 million during Q1 2023, and registered a low of $39.6 million during Q1 2021.
  • Over the past 5 years, Upwork's median Cost of Revenue value was $47.3 million (recorded in 2024), while the average stood at $50.9 million.
  • As far as peak fluctuations go, Upwork's Cost of Revenue skyrocketed by 5835.79% in 2021, and later tumbled by 2638.31% in 2024.
  • Quarter analysis of 5 years shows Upwork's Cost of Revenue stood at $54.7 million in 2021, then increased by 14.82% to $62.8 million in 2022, then fell by 21.47% to $49.3 million in 2023, then fell by 10.89% to $43.9 million in 2024, then increased by 4.35% to $45.8 million in 2025.
  • Its Cost of Revenue was $45.8 million in Q3 2025, compared to $43.4 million in Q2 2025 and $41.8 million in Q1 2025.