Upwork (UPWK) Free Cash Flow (2017 - 2026)

Upwork's Free Cash Flow history runs 10 years deep, the most recent figure standing at $14.6 million for Q1 2026.

• In Q1 2026, Free Cash Flow fell 59.47% year-over-year to $14.6 million; the TTM figure through Mar 2026 stood at $207.4 million (up 20.97% YoY), while the FY2025 annual figure was $228.9 million, up 52.57% from the prior year.
• Free Cash Flow was $14.6 million for Q1 2026 at Upwork, down from $44.4 million in the prior quarter.
• In the past five years, Free Cash Flow ranged from a high of $75.1 million in Q3 2025 to a low of -$11.8 million in Q1 2022.
• Historically, Free Cash Flow has averaged $26.4 million across 5 years, with a median of $19.5 million in 2023.
• The sharpest annual moves came in 2022 and 2024: Free Cash Flow plunged 752.16% in 2022, then surged 2392.46% in 2024.
• A 5-year view of Free Cash Flow shows it stood at $11.1 million in 2022, then surged by 75.79% to $19.5 million in 2023, then soared by 81.76% to $35.4 million in 2024, then increased by 25.57% to $44.4 million in 2025, then tumbled by 67.06% to $14.6 million in 2026.
• The last three Free Cash Flow figures came in at $14.6 million (Q1 2026), $44.4 million (Q4 2025), and $75.1 million (Q3 2025), per Business Quant data.