Upwork, Inc (UPWK) Gross Margin (2017 - 2026)

Upwork (UPWK) has reported Gross Margin for 10 consecutive years, with 77.16% the latest figure, recorded in Q1 2026.

• In Q1 2026, Gross Margin fell 114.0% year-over-year to 77.16%; the TTM figure through Mar 2026 stood at 77.54% (down 20.0% YoY), while the FY2025 annual figure was 77.82%, up 45.0% from the prior year.
• Gross Margin came in at 77.16% for Q1 2026 at Upwork, down from 77.99% in the prior quarter.
• The five-year high for Gross Margin was 78.31% in Q1 2025, with the low at 73.17% in Q1 2022.
• Average Gross Margin over 5 years is 76.18%, with a median of 76.85% recorded in 2024.
• Across the five-year window, Gross Margin surged 267 bps in 2024 and slumped 114 bps in 2026, its largest moves.
• Year by year, Gross Margin stood at 74.51% in 2022, then rose by 1 bps to 75.06% in 2023, then rose by 4 bps to 77.73% in 2024, then grew by 0 bps to 77.99% in 2025, then declined by 1 bps to 77.16% in 2026.
• According to Business Quant data, Gross Margin over the past three periods registered 77.16%, 77.99%, and 77.28% for Q1 2026, Q4 2025, and Q3 2025 respectively.