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

Upwork (UPWK) has reported Net Margin for 10 consecutive years, with 16.12% the latest figure, recorded in Q1 2026.

• In Q1 2026, Net Margin fell 346.0% year-over-year to 16.12%; the TTM figure through Mar 2026 stood at 13.82% (down 1663.0% YoY), while the FY2025 annual figure was 14.65%, down 1337.0% from the prior year.
• Net Margin came in at 16.12% for Q1 2026 at Upwork, up from 7.88% in the prior quarter.
• The five-year high for Net Margin was 76.84% in Q4 2024, with the low at 17.5% in Q1 2022.
• Average Net Margin over 5 years is 9.16%, with a median of 9.67% recorded in 2024.
• Across the five-year window, Net Margin jumped 6739 bps in 2024 and plunged 6896 bps in 2025, its largest moves.
• Year by year, Net Margin stood at 10.22% in 2022, then jumped by 192 bps to 9.45% in 2023, then soared by 713 bps to 76.84% in 2024, then slumped by 90 bps to 7.88% in 2025, then soared by 105 bps to 16.12% in 2026.
• According to Business Quant data, Net Margin over the past three periods registered 16.12%, 7.88%, and 14.56% for Q1 2026, Q4 2025, and Q3 2025 respectively.