Upwork (UPWK) Tax Rate (2017 - 2026)
Upwork (UPWK) recorded quarterly Tax Rate of 16.44% in Q1 2026, down 69.6% quarter-over-quarter from 54.08% in Q4 2025, and up 27.0% on a YoY basis from 12.95% in Q1 2025.
Upwork (UPWK) Tax Rate (2017 - 2026) Analysis & Trends
Upwork's Tax Rate history runs 10 years deep, the most recent figure standing at 16.44% for Q1 2026.
- In Q1 2026, Tax Rate rose 27.0% year-over-year to 16.44%; the TTM figure through Mar 2026 stood at 25.11% (up 12813.0% YoY), while the FY2025 annual figure was 24.64%, up 16305.0% from the prior year.
- Tax Rate was 16.44% for Q1 2026 at Upwork, down from 54.08% in the prior quarter.
- In the past five years, Tax Rate ranged from a high of 54.08% in Q4 2025 to a low of 700.89% in Q4 2024.
- Historically, Tax Rate has averaged 38.61% across 5 years, with a median of 4.43% in 2023.
- The sharpest annual moves came in 2024 and 2025: Tax Rate plunged 69104 bps in 2024, then jumped 75497 bps in 2025.
- A 5-year view of Tax Rate shows it stood at 2.74% in 2022, then slumped by 259 bps to 9.84% in 2023, then tumbled by 7020 bps to 700.89% in 2024, then surged by 108 bps to 54.08% in 2025, then slumped by 70 bps to 16.44% in 2026.
- The last three Tax Rate figures came in at 16.44% (Q1 2026), 54.08% (Q4 2025), and 17.66% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 1,913,603.98 Bn | 1,913,603.98 Bn | 295.20 Mn | -0.94% |
| 2 | Alphabet | 4,425.33 Bn | 4,209.71 Bn | 102.29 Bn | 19.16% |
| 3 | Meta Platforms | 1,502.66 Bn | 1,421.48 Bn | 46.09 Bn | -23.08% |
| 4 | Spotify Technology | 119.69 Bn | 109.44 Bn | 1.75 Bn | - |
| 5 | 33.22 Bn | 30.45 Bn | 511.94 Mn | 0.85% | |
| 6 | 13.64 Bn | 12.34 Bn | 768.96 Mn | -15.89% | |
| 7 | Kanzhun | 13.02 Bn | 10.92 Bn | 255.62 Bn | -20.98% |
| 8 | Snap | 9.72 Bn | 6.90 Bn | 1.29 Bn | -3.73% |
| 9 | Zillow | 8.26 Bn | 7.48 Bn | 519.00 Mn | 4.17% |
| 10 | Upwork | 1.12 Bn | 542.56 Mn | 150.84 Mn | 16.44% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 16.44% |
| Mar 31, 2026 | 16.44% |
| Dec 31, 2025 | 54.08% |
| Dec 31, 2025 | 54.08% |
| Sep 30, 2025 | 17.66% |
| Sep 30, 2025 | 17.66% |
| Jun 30, 2025 | 14.87% |
| Jun 30, 2025 | 14.87% |
| Mar 31, 2025 | 16.17% |
| Mar 31, 2025 | 16.17% |
| Dec 31, 2024 | -700.89% |
| Dec 31, 2024 | -700.89% |
| Sep 30, 2024 | 3.90% |
| Sep 30, 2024 | 3.90% |
| Jun 30, 2024 | 5.13% |
| Jun 30, 2024 | 5.13% |
| Mar 31, 2024 | 6.58% |
| Mar 31, 2024 | 6.58% |
| Dec 31, 2023 | -9.84% |
| Dec 31, 2023 | -9.84% |