Upwork (UPWK) Operating Leases (2019 - 2026)

Upwork's Operating Leases history runs 8 years deep, the most recent figure standing at $15.2 million for Q1 2026.

• In Q1 2026, Operating Leases rose 46.34% year-over-year to $15.2 million; the TTM figure through Mar 2026 stood at $15.2 million (up 46.34% YoY), while the FY2025 annual figure was $9.7 million, up 1.46% from the prior year.
• Operating Leases was $15.2 million for Q1 2026 at Upwork, up from $9.7 million in the prior quarter.
• In the past five years, Operating Leases ranged from a high of $17.7 million in Q4 2022 to a low of $4.4 million in Q2 2024.
• Historically, Operating Leases has averaged $10.3 million across 5 years, with a median of $9.7 million in 2023.
• The sharpest annual moves came in 2023 and 2025: Operating Leases plunged 65.56% in 2023, then soared 135.25% in 2025.
• A 5-year view of Operating Leases shows it stood at $17.7 million in 2022, then plunged by 65.56% to $6.1 million in 2023, then soared by 57.15% to $9.6 million in 2024, then gained by 1.46% to $9.7 million in 2025, then jumped by 56.56% to $15.2 million in 2026.
• The last three Operating Leases figures came in at $15.2 million (Q1 2026), $9.7 million (Q4 2025), and $10.1 million (Q3 2025), per Business Quant data.