United States was Upwork’s largest revenue line in fiscal 2025, bringing in $246.22M of $575.57M (43%).
| Contract with Customer, Sales Channel | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| United States | $210.58M | $236.74M | $238.79M | $246.22M | ||||||
| Rest Of World | $162.02M | $148.11M | $173.11M | $171.71M | ||||||
| Rest Of World (1) | — | — | — | — | ||||||
| Pakistan | — | $30.59M | $38.96M | $46.24M | ||||||
| India | $45.82M | $49.49M | $56.90M | $53.53M | ||||||
| Philippines | $39.95M | $45.91M | $58.48M | $57.87M | ||||||
| Total | $458.36M | $510.84M | $566.22M | $575.57M |
Upwork brought in $575.57M from its five revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $787.78M it reports by product and service, so these revenue lines do not cover all of its revenue. United States was the largest at $246.22M (42.8%), ahead of Rest Of World at $171.71M (29.8%) and Philippines at $57.87M (10.1%). The other two revenue lines brought in $99.77M combined.
Compared with fiscal 2024, Pakistan grew fastest, up 18.7% to $46.24M, while India fell the most, down 5.9% to $53.53M.
Upwork began breaking out Pakistan in fiscal 2023, when it brought in $30.59M.
Marketplace was Upwork’s largest product and service line in fiscal 2025, bringing in $682.88M of $787.78M (87%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Marketplace | $518.28M | $586.10M | $662.11M | $682.88M | ||||||
| Basic, Plus, Client Marketplace (1) & Other | — | — | — | — | ||||||
| Basic, Plus, & Other | — | — | — | — | ||||||
| Enterprise | $100.04M | $103.04M | $107.22M | $104.90M | ||||||
| Enterprise & Managed Services | — | — | — | — | ||||||
| Managed Services | — | — | — | — | ||||||
| Total | $618.32M | $689.14M | $769.33M | $787.78M |
Upwork brought in $787.78M from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 2.4% from $769.33M in fiscal 2024. Marketplace was the largest at $682.88M (86.7%), ahead of Enterprise at $104.90M (13.3%).
Compared with fiscal 2024, Marketplace grew 3.1% to $682.88M, while Enterprise fell 2.2% to $104.90M. From fiscal 2022 to 2025, combined revenue from these lines grew from $618.32M to $787.78M, a compound annual growth rate of 8.4%. Marketplace's share of the total rose from 83.8% to 86.7%.
Clients was Upwork’s largest revenue line in fiscal 2025, bringing in $246.22M of $417.93M (59%).
| Contract With Customer Sales Channel | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Clients | $210.58M | $236.74M | $238.79M | $246.22M | ||||||
| Talent | $162.02M | $148.11M | $173.11M | $171.71M | ||||||
| Freelancers | — | — | — | — | ||||||
| Total | $372.60M | $384.85M | $411.89M | $417.93M |
Upwork brought in $417.93M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $787.78M it reports by product and service, so these revenue lines do not cover all of its revenue. Clients was the largest at $246.22M (58.9%), ahead of Talent at $171.71M (41.1%).
Compared with fiscal 2024, Clients grew 3.1% to $246.22M, while Talent fell 0.8% to $171.71M.
Upwork (UPWK) reports its revenue by contract with customer, sales channel, by product and service and by contract with customer sales channel. In fiscal 2025, United States was its largest revenue line, bringing in $246.22M (42.8% of the total), followed by Rest Of World at $171.71M (29.8%).
United States was Upwork's largest revenue line in fiscal 2025, bringing in $246.22M, or 42.8% of the $575.57M total across its five revenue lines.
Marketplace was Upwork's largest product and service line in fiscal 2025, bringing in $682.88M, or 86.7% of the $787.78M total across its two product and service lines.
Among Upwork's revenue lines that make up at least 2% of revenue, Pakistan grew fastest in fiscal 2025, up 18.7% from $38.96M to $46.24M.
Every figure comes from Upwork's annual financial filings, as reported. Each line keeps the name Upwork gives it, and years follow its fiscal calendar.
Upwork's revenue by contract with customer, sales channel goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.