Upwork (UPWK) Shares Outstanding (Diluted) (2019 - 2026)
Upwork (UPWK) reported Weighted Average Shares Outstanding (Diluted) of 128.26 million for Q3 2026, down 8.2% from 139.67 million a year earlier and down 1.3% from the prior quarter.
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Analysis
Upwork (UPWK) Shares Outstanding (Diluted) (2019 - 2026) Analysis & Trends
For FY2025, Upwork posted Weighted Average Shares Outstanding (Diluted) of 140.66 million, down 1.7% from FY2024.
- Weighted Average Shares Outstanding (Diluted) has a five-year compound annual growth rate of 3.5% (FY2020 to FY2025).
- By year, Weighted Average Shares Outstanding (Diluted) came in at 143.15 million in FY2024 (+4.3%), 137.26 million in FY2023 (+5.2%), 130.52 million in FY2022 (+2.6%) and 127.16 million in FY2021 (+7.1%).
- The Q3 2026 figure ranks as the lowest quarterly Weighted Average Shares Outstanding (Diluted) since Q4 2021.
- Year over year, Weighted Average Shares Outstanding (Diluted) has now declined in each of the last four quarters, with an average decline of 2.1% over the last eight quarters.
- The high point for year-over-year Weighted Average Shares Outstanding (Diluted) in five years was Q4 2021 (growth of 7.1%); the low point was Q3 2026 (a decline of 8.2%).
- Per Business Quant data, the three quarters before Q3 2026 came in at 129.96 million (Q2 2026), 135.66 million (Q1 2026) and 140.66 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,505.75 Bn | 3,240.65 Bn | 76.16 Bn | 12.31 Bn |
| 2 | Meta Platforms | 1,636.37 Bn | 1,300.89 Bn | 51.23 Bn | 2.57 Bn |
| 3 | Netflix | 264.79 Bn | 226.09 Bn | 6.80 Bn | 4.20 Bn |
| 4 | Alibaba Group Holding | 244.49 Bn | 58.13 Bn | 15.16 Bn | 2.40 Bn |
| 5 | Shopify | 196.00 Bn | 174.81 Bn | 1.78 Bn | 1.29 Bn |
| 6 | Uber Technologies | 145.16 Bn | 115.98 Bn | 6.42 Bn | 2.05 Bn |
| 7 | AppLovin | 136.87 Bn | 125.40 Bn | 1.94 Bn | 334.77 Mn |
| 8 | Spotify Technology | 125.04 Bn | 81.96 Bn | 1.89 Bn | 210.51 Mn |
| 9 | Booking Holdings | 122.68 Bn | 56.42 Bn | - | 753.00 Mn |
| 10 | Upwork | 1.22 Bn | -951.96 Mn | 141.30 Mn | 128.26 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 128.26 Mn |
| Jun 30, 2026 | 129.96 Mn |
| Mar 31, 2026 | 135.66 Mn |
| Dec 31, 2025 | 140.66 Mn |
| Sep 30, 2025 | 139.67 Mn |
| Jun 30, 2025 | 140.20 Mn |
| Mar 31, 2025 | 142.78 Mn |
| Dec 31, 2024 | 143.15 Mn |
| Sep 30, 2024 | 139.29 Mn |
| Jun 30, 2024 | 138.27 Mn |
| Mar 31, 2024 | 143.66 Mn |
| Dec 31, 2023 | 137.26 Mn |
| Sep 30, 2023 | 137.29 Mn |
| Jun 30, 2023 | 134.14 Mn |
| Mar 31, 2023 | 135.97 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 |
API Access
Upwork Shares Outstanding (Diluted) 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-diluted&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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-diluted&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();