Upwork (UPWK) Invested Capital (2017 - 2026)

Upwork's Invested Capital history runs 10 years deep, the most recent figure standing at $929.9 million for Q1 2026.

• In Q1 2026, Invested Capital rose 56.45% year-over-year to $929.9 million; the TTM figure through Mar 2026 stood at $929.9 million (up 56.45% YoY), while the FY2025 annual figure was $990.1 million, up 6.08% from the prior year.
• Invested Capital was $929.9 million for Q1 2026 at Upwork, down from $990.1 million in the prior quarter.
• In the past five years, Invested Capital ranged from a high of $990.1 million in Q4 2025 to a low of $248.9 million in Q4 2022.
• Historically, Invested Capital has averaged $597.7 million across 5 years, with a median of $594.3 million in 2025.
• Biggest YoY gain for Invested Capital was 158.12% in 2022; the steepest drop was 69.68% in 2022.
• A 5-year view of Invested Capital shows it stood at $248.9 million in 2022, then surged by 53.12% to $381.1 million in 2023, then surged by 144.91% to $933.3 million in 2024, then rose by 6.08% to $990.1 million in 2025, then retreated by 6.08% to $929.9 million in 2026.
• The last three Invested Capital figures came in at $929.9 million (Q1 2026), $990.1 million (Q4 2025), and $987.4 million (Q3 2025), per Business Quant data.