Growth Metrics

Upwork (UPWK) EBITDA (2017 - 2025)

Upwork has reported EBITDA over the past 9 years, most recently at $15.5 million for Q4 2025.

  • Quarterly results put EBITDA at $15.5 million for Q4 2025, down 89.38% from a year ago — trailing twelve months through Dec 2025 was $115.9 million (down 46.25% YoY), and the annual figure for FY2025 was $115.9 million, down 46.25%.
  • EBITDA for Q4 2025 was $15.5 million at Upwork, down from $29.5 million in the prior quarter.
  • Over the last five years, EBITDA for UPWK hit a ceiling of $146.2 million in Q4 2024 and a floor of -$27.6 million in Q1 2022.
  • Median EBITDA over the past 5 years was $16.2 million (2023), compared with a mean of $11.6 million.
  • Biggest five-year swings in EBITDA: tumbled 3617.23% in 2021 and later skyrocketed 713.53% in 2024.
  • Upwork's EBITDA stood at -$23.1 million in 2021, then skyrocketed by 35.13% to -$15.0 million in 2022, then skyrocketed by 220.07% to $18.0 million in 2023, then skyrocketed by 713.53% to $146.2 million in 2024, then crashed by 89.38% to $15.5 million in 2025.
  • The last three reported values for EBITDA were $15.5 million (Q4 2025), $29.5 million (Q3 2025), and $32.9 million (Q2 2025) per Business Quant data.