Upwork reported revenue of $185.60M and net income of $31.81M for the quarter ended Sep 2026, down 8.0% year over year. This income statement covers 37 quarters of results from Sep 2017 through Sep 2026, standardized by Business Quant from the company’s SEC filings.
| Income StatementIncome 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 | Mar2026 | Jun2026 | Sep2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue & cost | |||||||||||||||||||||||||||||||||||||
| Revenue | 136.86M | 141.34M | 156.90M | 158.64M | 161.44M | 160.86M | 168.61M | 175.73M | 183.93M | 190.94M | 193.13M | 193.78M | 191.48M | 192.71M | 194.94M | 201.73M | 198.41M | 195.48M | 191.66M | 185.60M | |||||||||||||||||
| Cost of RevenueCost of Rev | 37.05M | 37.92M | 40.86M | 40.47M | 41.16M | 40.43M | 40.88M | 43.27M | 45.87M | 44.19M | 43.85M | 43.41M | 42.64M | 41.81M | 43.43M | 45.84M | 43.67M | 44.64M | 45.29M | 44.30M | |||||||||||||||||
| Gross Profit | 99.81M | 103.42M | 116.04M | 118.17M | 120.28M | 120.43M | 127.73M | 132.46M | 138.07M | 146.74M | 149.28M | 150.37M | 148.84M | 150.90M | 151.51M | 155.89M | 154.74M | 150.84M | 146.37M | 141.30M | |||||||||||||||||
| Operating items | |||||||||||||||||||||||||||||||||||||
| Research & DevelopmentR&D | 33.47M | 38.16M | 35.83M | 38.90M | 41.66M | 44.48M | 43.25M | 43.42M | 46.22M | 52.92M | 52.47M | 50.41M | 53.49M | 46.15M | 44.84M | 47.49M | 47.06M | 43.31M | 43.89M | 34.89M | |||||||||||||||||
| Selling, General & AdministrativeSG&A | 31.11M | 29.14M | 33.32M | 31.41M | 30.08M | 29.29M | 28.98M | 28.65M | 32.00M | 32.00M | 29.92M | 31.28M | 35.60M | 28.05M | 35.66M | 41.26M | 41.67M | 35.16M | 36.88M | 36.81M | |||||||||||||||||
| Other Operating ExpensesOther Opex | 57.03M | 59.77M | 69.94M | 73.31M | 69.02M | 71.70M | 61.62M | 48.92M | 51.42M | 48.78M | 49.11M | 47.89M | 46.17M | 38.01M | 38.44M | 37.38M | 37.72M | 39.66M | 37.46M | 35.01M | |||||||||||||||||
| Operating ExpensesOpex | 121.61M | 127.07M | 139.09M | 143.61M | 140.77M | 145.47M | 133.85M | 120.99M | 129.64M | 133.70M | 131.50M | 129.58M | 135.26M | 112.21M | 118.94M | 126.13M | 126.44M | 118.12M | 118.24M | 106.70M | |||||||||||||||||
| Operating IncomeOp. Inc | -21.81M | -23.65M | -23.05M | -25.44M | -20.48M | -25.04M | -6.12M | 11.47M | 8.43M | 13.05M | 17.78M | 20.79M | 13.58M | 38.69M | 32.57M | 29.76M | 28.29M | 32.72M | 28.14M | 34.59M | |||||||||||||||||
| Non-operating items | |||||||||||||||||||||||||||||||||||||
| Non Operating Interest Expenses | 1.13M | 1.13M | 1.12M | 1.12M | 1.12M | 1.10M | 0.71M | 0.71M | |||||||||||||||||||||||||||||
| Other Non Operating IncomeOther Non Op Inc. | -1.74M | 0.07M | 0.38M | 1.77M | 1.06M | 43.00M | 3.98M | 5.77M | 7.39M | 6.72M | 5.62M | 8.09M | 4.79M | 6.32M | 5.88M | 5.92M | 5.76M | 4.99M | 3.97M | 3.95M | |||||||||||||||||
| Net income details | |||||||||||||||||||||||||||||||||||||
| EBIT | -21.81M | -23.65M | -23.05M | -25.44M | -20.48M | -25.04M | -6.12M | 11.47M | 8.43M | 13.05M | 17.78M | 20.79M | 13.58M | 38.69M | 32.57M | 29.76M | 28.29M | 32.72M | 28.14M | 34.59M | |||||||||||||||||
| EBT | -22.49M | -24.71M | -23.79M | -24.79M | -16.06M | 17.96M | -2.13M | 17.23M | 15.82M | 19.77M | 23.40M | 28.88M | 18.37M | 45.01M | 38.44M | 35.68M | 34.05M | 37.71M | 32.10M | 38.54M | |||||||||||||||||
| Tax ProvisionsTaxes | 0.06M | 0.03M | 0.03M | 0.04M | 0.44M | 0.80M | 1.86M | 0.90M | -1.56M | 1.33M | 1.20M | 1.13M | -128.80M | 7.30M | 5.72M | 6.34M | 18.42M | 6.25M | 6.70M | 6.73M | |||||||||||||||||
| Income After Tax | -22.56M | -24.74M | -23.82M | -24.83M | -16.50M | 17.17M | -3.99M | 16.34M | 17.37M | 18.44M | 22.20M | 27.76M | 147.17M | 37.71M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M | 31.81M | |||||||||||||||||
| Income from Continuing OperationsIncome (Continuing) | -22.56M | -24.74M | -23.82M | -24.83M | -16.50M | 17.17M | -3.99M | 16.34M | 17.37M | 18.44M | 22.20M | 27.76M | 147.17M | 37.71M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M | 31.81M | |||||||||||||||||
| Consolidated Net IncomeConsol Net Inc. | -22.56M | -24.74M | -23.82M | -24.83M | -16.50M | 17.17M | -3.99M | 16.34M | 17.37M | 18.44M | 22.20M | 27.76M | 147.17M | 37.71M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M | 31.81M | |||||||||||||||||
| Income towards Parent CompanyParent Net Inc | -22.56M | -24.74M | -23.82M | -24.83M | -16.50M | 17.17M | -3.99M | 16.34M | 17.37M | 18.44M | 22.22M | 27.76M | 147.17M | 37.73M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M | 31.81M | |||||||||||||||||
| Preferred Dividend PaymentsPref Dividends | |||||||||||||||||||||||||||||||||||||
| Net Income towards Common StockholdersNet Income | -22.56M | -24.74M | -23.82M | -24.83M | -16.50M | 17.17M | -3.99M | 16.34M | 17.37M | 18.44M | 22.22M | 27.76M | 147.17M | 37.73M | 32.73M | 29.34M | 15.63M | 31.46M | 25.40M | 31.81M | |||||||||||||||||
| Additional items | |||||||||||||||||||||||||||||||||||||
| EPS (Basic) | -0.18 | -0.19 | -0.18 | -0.19 | -0.13 | 0.13 | -0.03 | 0.12 | 0.13 | 0.14 | 0.17 | 0.21 | 1.10 | 0.28 | 0.25 | 0.22 | 0.12 | 0.25 | 0.21 | 0.25 | |||||||||||||||||
| EPS (Diluted) | -0.18 | -0.19 | -0.18 | -0.19 | -0.13 | 0.13 | -0.03 | 0.12 | 0.13 | 0.13 | 0.16 | 0.20 | 1.03 | 0.26 | 0.23 | 0.21 | 0.11 | 0.23 | 0.20 | 0.25 | |||||||||||||||||
| Shares Outstanding | 127.16M | 129.36M | 130.06M | 130.83M | 130.52M | 132.84M | 134.14M | 135.45M | 134.77M | 136.36M | 131.44M | 132.60M | 133.62M | 135.21M | 132.18M | 131.99M | 132.49M | 128.12M | 123.92M | 125.10M | |||||||||||||||||
| Shares Outstanding (Diluted)Shares Outstanding (Dil.) | 127.16M | 129.36M | 130.06M | 130.83M | 130.52M | 135.97M | 134.14M | 137.29M | 137.26M | 143.66M | 138.27M | 139.29M | 143.15M | 142.78M | 140.20M | 139.67M | 140.66M | 135.66M | 129.96M | 128.26M | |||||||||||||||||
| Shares Outstanding (Entity)Shares Outstanding (Entity.) | 129.13M | 129.65M | 130.53M | 131.34M | 132.37M | 133.46M | 134.88M | 136.11M | 137.27M | 133.12M | 132.01M | 133.50M | 135.35M | 134.05M | 132.51M | 131.39M | 130.55M | 123.57M | 124.80M | 125.69M | |||||||||||||||||
| EBITDA | -18.99M | -20.90M | -20.33M | -22.76M | -17.69M | -22.30M | -3.80M | 13.69M | 12.70M | 16.66M | 21.87M | 24.92M | 18.41M | 44.01M | 38.91M | 38.16M | 35.78M | 42.28M | 37.38M | 46.36M | |||||||||||||||||
| Interest ExpensesInt Expense | 1.13M | 1.13M | 1.12M | 1.12M | 1.12M | 1.10M | 0.71M | 0.71M | |||||||||||||||||||||||||||||
| Tax Rate | 4.43% | 5.19% | 6.72% | 5.13% | 3.90% | 16.22% | 14.87% | 17.77% | 54.09% | 16.57% | 20.87% | 17.47% |
Pull Upwork's standardized financial statements into your own models, spreadsheets and apps with the Business Quant Financial Statements API. The request below follows the statement, frequency and period selected above. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/statements?ticker=UPWK&statement=IS&frequency=Quarter&period=all&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/statements"
params = {"ticker": "UPWK", "statement": "IS", "frequency": "Quarter", "period": "all", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/statements?ticker=UPWK&statement=IS&frequency=Quarter&period=all&api_key=YOUR_API_KEY");
const data = await res.json();