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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Upwork (UPWK) Gross Margin (2017 - 2025)

Upwork has reported Gross Margin over the past 9 years, most recently at 77.99% for Q4 2025.

  • Quarterly results put Gross Margin at 77.99% for Q4 2025, up 26.0% from a year ago — trailing twelve months through Dec 2025 was 77.82% (up 45.0% YoY), and the annual figure for FY2025 was 77.82%, up 45.0%.
  • Gross Margin for Q4 2025 was 77.99% at Upwork, up from 77.28% in the prior quarter.
  • Over the last five years, Gross Margin for UPWK hit a ceiling of 78.31% in Q1 2025 and a floor of 72.74% in Q3 2021.
  • Median Gross Margin over the past 5 years was 75.22% (2023), compared with a mean of 75.51%.
  • Biggest five-year swings in Gross Margin: skyrocketed 267bps in 2024 and later plummeted -32bps in 2025.
  • Upwork's Gross Margin stood at 72.93% in 2021, then rose by 2bps to 74.51% in 2022, then grew by 1bps to 75.06% in 2023, then grew by 4bps to 77.73% in 2024, then increased by 0bps to 77.99% in 2025.
  • The last three reported values for Gross Margin were 77.99% (Q4 2025), 77.28% (Q3 2025), and 77.72% (Q2 2025) per Business Quant data.