Upwork (UPWK) Free Cash Flow (2017 - 2026)
Upwork (UPWK) posted quarterly Free Cash Flow of $21.3 million for Q1 2026, down 35.97% year-over-year from $33.3 million in Q1 2025, and down 66.6% quarter-over-quarter from $63.8 million in Q4 2025.
Upwork (UPWK) Free Cash Flow (2017 - 2026) Analysis & Trends
Upwork's Free Cash Flow history runs 10 years deep, the most recent figure standing at $21.3 million for Q1 2026.
- In Q1 2026, Free Cash Flow fell 35.97% year-over-year to $21.3 million; the TTM figure through Mar 2026 stood at $236.3 million (up 40.1% YoY), while the FY2025 annual figure was $248.3 million, up 65.47% from the prior year.
- Free Cash Flow for Q1 2026 stood at $21.3 million, down from $63.8 million in the prior quarter.
- The five-year high for Free Cash Flow was $79.9 million in Q3 2025, with the low at -$11.8 million in Q1 2022.
- The 5-year median for Free Cash Flow is $21.3 million (2026), against an average of $28.4 million.
- The sharpest annual moves came in 2022 and 2024: Free Cash Flow slumped 2691.0% in 2022, then soared 2546.23% in 2024.
- Upwork's Free Cash Flow stood at $18.6 million in 2022, then gained by 7.87% to $20.0 million in 2023, then surged by 118.12% to $43.7 million in 2024, then jumped by 46.05% to $63.8 million in 2025, then plunged by 66.6% to $21.3 million in 2026.
- Business Quant data shows UPWK's Free Cash Flow at $21.3 million in Q1 2026, $63.8 million in Q4 2025, and $79.9 million in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,205.76 Bn | 3,776.73 Bn | 73.85 Bn | -5.86 Bn |
| 2 | Meta Platforms | 1,535.63 Bn | 1,445.37 Bn | 49.47 Bn | 1.75 Bn |
| 3 | Taboola.com | 1,134.89 Bn | 1,134.76 Bn | 139.48 Mn | - |
| 4 | Baidu | 289.12 Bn | 284.63 Bn | 1.88 Mn | 1.24 Bn |
| 5 | Spotify Technology | 103.02 Bn | 92.78 Bn | 1.75 Bn | 984.60 Mn |
| 6 | Joyy | 77.60 Bn | 76.71 Bn | 205.64 Mn | - |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 290,746.00 |
| 8 | Nebius | 49.48 Bn | 39.86 Bn | 295.20 Mn | 4.73 Bn |
| 9 | 30.46 Bn | 27.68 Bn | 734.60 Mn | 260.74 Mn | |
| 10 | Upwork | 1.09 Bn | 514.38 Mn | 150.84 Mn | 21.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 21.30 Mn |
| Mar 31, 2026 | 21.30 Mn |
| Dec 31, 2025 | 63.76 Mn |
| Dec 31, 2025 | 63.76 Mn |
| Sep 30, 2025 | 79.88 Mn |
| Sep 30, 2025 | 79.88 Mn |
| Jun 30, 2025 | 71.36 Mn |
| Jun 30, 2025 | 71.36 Mn |
| Mar 31, 2025 | 33.26 Mn |
| Mar 31, 2025 | 33.26 Mn |
| Dec 31, 2024 | 43.65 Mn |
| Dec 31, 2024 | 43.65 Mn |
| Sep 30, 2024 | 52.48 Mn |
| Sep 30, 2024 | 52.48 Mn |
| Jun 30, 2024 | 39.26 Mn |
| Jun 30, 2024 | 39.26 Mn |
| Mar 31, 2024 | 14.64 Mn |
| Mar 31, 2024 | 14.64 Mn |
| Dec 31, 2023 | 20.01 Mn |
| Dec 31, 2023 | 20.01 Mn |