Upwork (UPWK) EBITDA (2017 - 2026)
Upwork (UPWK) posted quarterly EBITDA of $32.7 million for Q1 2026, down 15.44% year-over-year from $38.7 million in Q1 2025, and up 15.64% quarter-over-quarter from $28.3 million in Q4 2025.
Upwork (UPWK) EBITDA (2017 - 2026) Analysis & Trends
Upwork's EBITDA history runs 10 years deep, the most recent figure standing at $32.7 million for Q1 2026.
- In Q1 2026, EBITDA fell 15.44% year-over-year to $32.7 million; the TTM figure through Mar 2026 stood at $123.3 million (up 35.76% YoY), while the FY2025 annual figure was $129.3 million, up 98.31% from the prior year.
- EBITDA for Q1 2026 stood at $32.7 million, up from $28.3 million in the prior quarter.
- The five-year high for EBITDA was $38.7 million in Q1 2025, with the low at -$25.4 million in Q3 2022.
- The 5-year median for EBITDA is $13.0 million (2024), against an average of $7.3 million.
- The sharpest annual moves came in 2022 and 2024: EBITDA sank 207.29% in 2022, then surged 390.73% in 2024.
- Upwork's EBITDA stood at -$20.5 million in 2022, then soared by 141.15% to $8.4 million in 2023, then jumped by 61.17% to $13.6 million in 2024, then jumped by 108.3% to $28.3 million in 2025, then rose by 15.64% to $32.7 million in 2026.
- Business Quant data shows UPWK's EBITDA at $32.7 million in Q1 2026, $28.3 million in Q4 2025, and $29.8 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,234.87 Bn | 3,805.83 Bn | 73.85 Bn | 40.77 Bn |
| 2 | Meta Platforms | 1,535.77 Bn | 1,445.51 Bn | 49.47 Bn | 18.78 Bn |
| 3 | Taboola.com | 1,137.67 Bn | 1,137.54 Bn | 139.48 Mn | 7.26 Mn |
| 4 | Baidu | 289.51 Bn | 285.02 Bn | 1.88 Mn | 877.00 Mn |
| 5 | Spotify Technology | 102.78 Bn | 92.54 Bn | 1.75 Bn | 1.24 Bn |
| 6 | Joyy | 77.93 Bn | 77.04 Bn | 205.64 Mn | 18.27 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 102,075.00 |
| 8 | Nebius | 49.19 Bn | 39.57 Bn | 295.20 Mn | 129.50 Mn |
| 9 | 30.48 Bn | 27.69 Bn | 734.60 Mn | 231.72 Mn | |
| 10 | Upwork | 1.10 Bn | 519.50 Mn | 150.84 Mn | 32.72 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 32.72 Mn |
| Dec 31, 2025 | 28.29 Mn |
| Sep 30, 2025 | 29.76 Mn |
| Jun 30, 2025 | 32.57 Mn |
| Mar 31, 2025 | 38.69 Mn |
| Dec 31, 2024 | 13.58 Mn |
| Sep 30, 2024 | 20.79 Mn |
| Jun 30, 2024 | 17.78 Mn |
| Mar 31, 2024 | 13.05 Mn |
| Dec 31, 2023 | 8.43 Mn |
| Sep 30, 2023 | 11.47 Mn |
| Jun 30, 2023 | -6.12 Mn |
| Mar 31, 2023 | -25.04 Mn |
| Dec 31, 2022 | -20.48 Mn |
| Sep 30, 2022 | -25.44 Mn |
| Jun 30, 2022 | -23.05 Mn |
| Mar 31, 2022 | -23.65 Mn |
| Dec 31, 2021 | -21.81 Mn |
| Sep 30, 2021 | -8.32 Mn |
| Jun 30, 2021 | -16.40 Mn |