Upwork (UPWK) EBITDA (2017 - 2026)
Upwork (UPWK) reported EBITDA of $36.92 million for Q2 2026, down 4.0% from $38.44 million a year earlier and down 11.7% from the prior quarter.
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Analysis
Upwork (UPWK) EBITDA (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Upwork's EBITDA came in at $151.76 million, up 22.0% year-over-year; for FY2025, it came in at $155.02 million, up 93.7% from FY2024.
- By year, EBITDA came in at $80.02 million in FY2024, -$1.81 million in FY2023, -$84.57 million in FY2022 and -$43.96 million in FY2021.
- Five-year quarterly EBITDA spans a low of -$23.46 million in Q3 2022 and a high of $43.55 million in Q1 2025.
- Year over year, EBITDA gained in six of the last eight quarters, with growth averaging 65.4%.
- The high point for year-over-year EBITDA in five years was Q1 2025 (growth of 168.9%); the low point was Q1 2026 (a decline of 4.0%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $41.82 million (Q1 2026), $35.32 million (Q4 2025) and $37.7 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 47.87 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 25.13 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 4.29 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | - |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 495.00 Mn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 2.09 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 2.63 Bn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | - |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 1.53 Bn |
| 10 | Upwork | 1.01 Bn | -1.50 Bn | 146.37 Mn | 36.92 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 36.92 Mn |
| Mar 31, 2026 | 41.82 Mn |
| Dec 31, 2025 | 35.32 Mn |
| Sep 30, 2025 | 37.70 Mn |
| Jun 30, 2025 | 38.44 Mn |
| Mar 31, 2025 | 43.55 Mn |
| Dec 31, 2024 | 17.95 Mn |
| Sep 30, 2024 | 24.46 Mn |
| Jun 30, 2024 | 21.41 Mn |
| Mar 31, 2024 | 16.20 Mn |
| Dec 31, 2023 | 12.24 Mn |
| Sep 30, 2023 | 13.23 Mn |
| Jun 30, 2023 | -4.26 Mn |
| Mar 31, 2023 | -23.01 Mn |
| Dec 31, 2022 | -18.43 Mn |
| Sep 30, 2022 | -23.46 Mn |
| Jun 30, 2022 | -21.03 Mn |
| Mar 31, 2022 | -21.64 Mn |
| Dec 31, 2021 | -19.73 Mn |
| Sep 30, 2021 | -5.88 Mn |
API Access
Upwork EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "ticker": "UPWK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();