Upwork (UPWK) Shares Outstanding (Diluted) (2019 - 2026)
Upwork (UPWK) reported Shares Outstanding (Diluted) of 129.96 million for Q2 2026, down 7.3% from 140.2 million a year earlier and down 4.2% from the prior quarter.
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Analysis
Upwork (UPWK) Shares Outstanding (Diluted) (2019 - 2026) Analysis & Trends
For FY2025, Upwork posted Shares Outstanding (Diluted) of 140.66 million, down 1.7% from FY2024.
- Shares Outstanding (Diluted) has a five-year compound annual growth rate of 3.5% (FY2020 to FY2025).
- By year, 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 Q2 2026 figure ranks as the lowest quarterly Shares Outstanding (Diluted) since Q1 2022.
- Year over year, Shares Outstanding (Diluted) has now declined in each of the last three quarters, with an average decline of 0.9% over the last eight quarters.
- The high point for year-over-year Shares Outstanding (Diluted) in five years was Q4 2021 (growth of 7.1%); the low point was Q2 2026 (a decline of 7.3%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 135.66 million (Q1 2026), 140.66 million (Q4 2025) and 139.67 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,109.95 Bn | 3,867.48 Bn | 73.85 Bn | 12.31 Bn |
| 2 | Netflix | 282.52 Bn | 242.72 Bn | 6.52 Bn | 4.26 Bn |
| 3 | Alibaba Group Holding | 249.53 Bn | 67.40 Bn | 15.11 Bn | 2.40 Bn |
| 4 | Shopify | 193.10 Bn | 170.29 Bn | 1.71 Bn | 1.30 Bn |
| 5 | Uber Technologies | 138.52 Bn | 110.49 Bn | 6.38 Bn | 2.05 Bn |
| 6 | Booking Holdings | 120.43 Bn | 53.48 Bn | - | 770.00 Mn |
| 7 | PDD Holdings | 108.89 Bn | -143.04 Bn | 9.45 Bn | 1.48 Bn |
| 8 | Spotify Technology | 101.14 Bn | 58.37 Bn | 1.86 Bn | 210.51 Mn |
| 9 | Airbnb | 94.68 Bn | 47.91 Bn | 2.98 Bn | 597.00 Mn |
| 10 | Upwork | 1.04 Bn | -1.47 Bn | 146.37 Mn | 129.96 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 |
| Sep 30, 2021 | 127.92 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();