Upwork Income Statement (2017-2025) | UPWK

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Income Statement Sep2017 Dec2017 Mar2018 Jun2018 Sep2018 Dec2018 Mar2019 Jun2019 Sep2019 Dec2019 Mar2020 Jun2020 Sep2020 Dec2020 Mar2021 Jun2021 Sep2021 Dec2021 Mar2022 Jun2022 Sep2022 Dec2022 Mar2023 Jun2023 Sep2023 Dec2023 Mar2024 Jun2024 Sep2024 Dec2024 Mar2025 Jun2025 Sep2025 Dec2025
Revenue & cost
Revenue 52.26M54.76M59.22M62.68M64.11M67.34M68.48M73.78M78.02M80.29M83.20M87.53M96.75M106.15M113.62M124.18M128.14M136.86M141.34M156.90M158.64M161.44M160.86M168.61M175.73M183.93M190.94M193.13M193.78M191.48M192.71M194.94M201.73M198.41M
Cost of Revenue 16.89M17.60M19.67M20.46M20.50M20.88M21.12M24.48M25.32M25.57M30.68M34.44M33.58M34.53M39.60M45.82M43.19M54.68M57.64M63.28M63.17M62.79M65.00M59.07M47.31M49.30M47.85M47.33M46.09M43.93M41.81M43.43M45.84M43.67M
Gross Profit 35.37M37.16M39.60M42.22M43.61M46.46M47.35M52.20M55.52M57.35M59.71M62.12M70.15M77.38M83.18M91.10M93.21M99.81M103.42M116.04M118.17M120.28M120.43M127.73M132.46M138.07M146.74M149.28M150.37M148.84M150.90M151.51M155.89M154.74M
Operating items
Research & Development 11.51M13.09M13.49M12.81M14.38M14.81M15.80M15.70M16.21M16.32M19.35M20.55M20.83M22.74M26.61M28.12M30.87M33.47M38.16M35.83M38.90M41.66M44.48M43.25M43.42M46.22M52.92M52.47M50.41M53.49M46.15M44.84M47.49M47.05M
Selling, General & Administrative 8.95M11.92M11.18M11.22M11.71M15.23M15.66M14.06M16.47M21.13M17.82M17.10M18.05M18.55M23.53M32.35M26.08M31.11M29.14M33.32M31.41M30.08M29.29M28.98M28.65M32.00M32.00M29.92M31.28M35.60M28.05M35.66M41.26M41.66M
Other Operating Expenses 14.70M17.11M20.94M17.86M20.86M19.12M21.16M25.33M26.54M26.77M31.59M35.46M34.30M35.43M40.73M47.01M44.57M57.03M59.77M69.94M73.31M69.02M71.70M61.62M48.92M51.42M48.78M49.11M47.89M46.17M38.01M38.44M37.38M37.72M
Operating Expenses 35.16M42.11M45.61M41.90M46.94M49.16M52.62M55.09M59.21M64.23M68.76M73.11M73.18M76.72M90.88M107.49M101.53M121.61M127.07M139.09M143.61M140.76M145.47M133.84M120.99M129.64M133.69M131.50M129.57M135.26M112.21M118.94M126.13M126.44M
Operating Income 0.20M-4.95M-6.01M0.33M-3.33M-2.70M-5.26M-2.90M-3.69M-6.88M-9.05M-10.98M-3.03M0.66M-7.70M-16.39M-8.32M-21.81M-23.65M-23.05M-25.44M-20.48M-25.04M-6.12M11.47M8.43M13.05M17.78M20.79M13.58M38.69M32.56M29.76M28.29M
EBIT 0.20M-4.95M-6.01M0.33M-3.33M-2.70M-5.26M-2.90M-3.69M-6.88M-9.05M-10.98M-3.03M0.66M-7.70M-16.39M-8.32M-21.81M-23.65M-23.05M-25.44M-20.48M-25.04M-6.12M11.47M8.43M13.05M17.78M20.79M13.58M38.69M32.56M29.76M28.29M
Non-operating items
Other Non Operating Income -0.26M0.01M-0.25M-0.17M-3.42M-2.30M0.48M0.83M0.46M1.63M-0.73M0.25M0.45M0.50M0.08M-0.02M-0.22M-1.74M0.07M0.38M1.77M1.06M43.00M3.98M5.77M7.39M6.72M5.62M8.09M4.79M6.32M5.88M5.92M5.76M
Non Operating Income -0.26M0.01M-0.25M-0.17M-3.42M-2.30M0.48M0.83M0.46M1.63M-0.73M0.25M0.45M0.50M0.08M-0.02M-0.22M-1.74M0.07M0.38M1.77M1.06M43.00M3.98M5.77M7.39M6.72M5.62M8.09M4.79M6.32M5.88M5.92M5.76M
Net income details
EBT -0.26M-5.27M-6.79M-0.40M-7.35M-5.36M-5.16M-2.42M-3.55M-5.50M-10.01M-10.99M-2.73M1.02M-7.82M-16.52M-9.29M-22.49M-24.71M-23.79M-24.79M-16.06M17.96M-2.13M17.23M15.82M19.77M23.40M28.88M18.37M45.01M38.44M35.67M34.05M
Tax Provisions 0.04M-0.08M-0.00M0.01M0.01M0.00M0.03M0.01M0.03M0.02M0.09M0.02M0.02M0.03M0.06M0.03M0.03M0.04M0.44M0.80M1.86M0.90M-1.56M1.33M1.20M1.13M-128.80M7.30M5.72M6.34M18.42M
Profit After Tax -0.30M-5.19M-6.78M-0.41M-7.35M-5.37M-5.16M-2.45M-3.55M-5.50M-10.02M-11.02M-2.75M0.93M-7.83M-16.54M-9.31M-22.56M-24.74M-23.82M-24.83M-16.50M17.17M-3.99M16.34M17.37M18.44M22.22M27.76M147.17M37.73M32.73M29.34M15.63M
Income from Continuing Operations -0.30M-5.19M-6.78M-0.41M-7.35M-5.37M-5.16M-2.45M-3.55M-5.50M-10.02M-11.02M-2.75M0.93M-7.83M-16.54M-9.31M-22.56M-24.74M-23.82M-24.83M-16.50M17.17M-3.99M16.34M17.37M18.44M22.20M27.76M147.17M37.71M32.73M29.34M15.63M
Consolidated Net Income -0.30M-5.19M-6.78M-0.41M-7.35M-5.37M-5.16M-2.45M-3.55M-5.50M-10.02M-11.02M-2.75M0.93M-7.83M-16.54M-9.31M-22.56M-24.74M-23.82M-24.83M-16.50M17.17M-3.99M16.34M17.37M18.44M22.20M27.76M147.17M37.71M32.73M29.34M15.63M
Income towards Parent Company -0.30M-5.19M-6.78M-0.41M-7.35M-5.37M-5.16M-2.45M-3.55M-5.50M-10.02M-11.02M-2.75M0.93M-7.83M-16.54M-9.31M-22.56M-24.74M-23.82M-24.83M-16.50M17.17M-3.99M16.34M17.37M18.44M22.20M27.76M147.17M37.71M32.73M29.34M15.63M
Net Income towards Common Stockholders -0.30M-5.19M-6.78M-0.41M-7.35M-5.37M-5.16M-2.45M-3.55M-5.50M-10.02M-11.02M-2.75M0.93M-7.83M-16.54M-9.31M-22.56M-24.74M-23.82M-24.83M-16.50M17.17M-3.99M16.34M17.37M18.44M22.20M27.76M147.17M37.71M32.73M29.34M15.63M
Additional items
EPS (Basic) -0.01-0.16-0.20-0.01-0.200.03-0.05-0.02-0.03-0.05-0.09-0.09-0.020.01-0.06-0.13-0.07-0.17-0.19-0.18-0.19-0.130.13-0.030.120.130.140.170.211.100.280.250.220.12
EPS (Weighted Average and Diluted) -0.05-0.09-0.020.01-0.06-0.13-0.07-0.17-0.19-0.18-0.19-0.13-0.15-0.030.120.120.130.160.201.020.270.240.210.12
Shares Outstanding (Weighted Average) 33.30M32.95M34.19M35.10M36.07M52.33M106.64M108.68M111.16M109.81M114.12M116.52M120.68M118.70M125.28M126.74M127.92M127.16M129.36M130.06M130.83M130.52M132.84M134.14M135.45M134.77M136.36M133.81M133.40M133.62M135.21M133.69M133.11M132.49M
Shares Outstanding (Diluted Average) 109.81M116.52M120.68M118.70M125.28M126.74M127.92M127.16M129.36M130.06M130.83M130.52M135.97M135.05M137.29M137.26M143.66M140.80M140.55M143.15M142.78M141.87M140.91M140.66M
EBITDA 0.20M-4.95M-6.01M0.33M-3.33M-2.70M-5.26M-2.90M-3.69M-6.88M-9.05M-10.98M-3.03M0.66M-7.86M-16.54M-9.32M-23.07M-27.59M-25.23M-24.66M-14.97M19.09M-3.69M16.81M17.97M17.85M22.08M29.51M146.21M38.01M32.90M29.48M15.52M
Interest Expenses 0.20M0.33M0.53M0.56M0.59M0.36M0.37M0.36M0.32M0.26M0.23M0.26M0.15M0.14M0.20M0.11M0.75M1.12M1.12M1.12M1.12M1.12M1.10M0.71M0.71M
Tax Rate -17.58%1.48%0.04%-3.00%-0.11%-0.02%-1.11%-0.09%-0.27%-0.66%9.14%-0.22%-0.10%-0.28%-0.28%-0.12%-0.11%-0.16%-2.74%4.43%-87.02%5.19%-9.84%6.72%5.13%3.90%-701.08%16.22%14.87%17.77%54.09%