Upwork (UPWK) Shares Outstanding (2017 - 2026)
Upwork's Shares Outstanding was 123.92 million in Q2 2026, down 6.3% from 132.18 million a year earlier and down 3.3% from the prior quarter.
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Analysis
Upwork (UPWK) Shares Outstanding (2017 - 2026) Analysis & Trends
For FY2025, Shares Outstanding at Upwork came in at 132.49 million, down 0.8% from FY2024.
- Shares Outstanding shows a five-year compound annual growth rate of 2.2% (FY2020 to FY2025).
- In earlier years, Shares Outstanding was 133.62 million in FY2024 (-0.9%), 134.77 million in FY2023 (+3.3%), 130.52 million in FY2022 (+2.6%) and 127.16 million in FY2021 (+7.1%).
- The Q2 2026 figure marks the lowest quarterly Shares Outstanding since Q4 2020.
- Compared with a year earlier, Shares Outstanding has declined for four straight quarters, with an average decline of 2.0% over the last eight quarters.
- The best year-over-year quarter for Shares Outstanding over five years was Q4 2021 (growth of 7.1%); the worst was Q2 2026 (a decline of 6.3%).
- Per Business Quant data, UPWK's Shares Outstanding in the three quarters before Q2 2026 was 128.12 million (Q1 2026), 132.49 million (Q4 2025) and 131.99 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,180.92 Bn | 3,938.44 Bn | 73.85 Bn | 12.15 Bn |
| 2 | Meta Platforms | 1,847.76 Bn | 1,550.28 Bn | 49.47 Bn | 2.54 Bn |
| 3 | Netflix | 289.73 Bn | 249.92 Bn | 6.52 Bn | 4.19 Bn |
| 4 | Alibaba Group Holding | 249.81 Bn | 67.68 Bn | 15.11 Bn | 2.32 Bn |
| 5 | Shopify | 192.08 Bn | 169.26 Bn | 1.71 Bn | 1.30 Bn |
| 6 | Uber Technologies | 139.76 Bn | 111.74 Bn | 6.38 Bn | 2.04 Bn |
| 7 | Booking Holdings | 122.41 Bn | 55.46 Bn | - | 768.00 Mn |
| 8 | PDD Holdings | 110.94 Bn | -140.99 Bn | 9.45 Bn | 1.40 Bn |
| 9 | Spotify Technology | 100.32 Bn | 57.56 Bn | 1.86 Bn | 205.41 Mn |
| 10 | Upwork | 1.02 Bn | -1.49 Bn | 146.37 Mn | 123.92 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 123.92 Mn |
| Mar 31, 2026 | 128.12 Mn |
| Dec 31, 2025 | 132.49 Mn |
| Sep 30, 2025 | 131.99 Mn |
| Jun 30, 2025 | 132.18 Mn |
| Mar 31, 2025 | 135.21 Mn |
| Dec 31, 2024 | 133.62 Mn |
| Sep 30, 2024 | 132.60 Mn |
| Jun 30, 2024 | 131.44 Mn |
| Mar 31, 2024 | 136.36 Mn |
| Dec 31, 2023 | 134.77 Mn |
| Sep 30, 2023 | 135.45 Mn |
| Jun 30, 2023 | 134.14 Mn |
| Mar 31, 2023 | 132.84 Mn |
| Dec 31, 2022 | 130.52 Mn |
| Sep 30, 2022 | 130.83 Mn |
| Jun 30, 2022 | 130.06 Mn |
| Mar 31, 2022 | 129.36 Mn |
| Dec 31, 2021 | 127.16 Mn |
| Sep 30, 2021 | 127.92 Mn |
API Access
Upwork Shares Outstanding API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=shares-outstanding&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "ticker": "UPWK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=shares-outstanding&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();