United States was Upwork’s largest region in fiscal 2025, bringing in $360.20M of $787.78M (46%).
| Geography | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| United States | $297.47M | $332.58M | $350.48M | $360.20M | ||||||
| Rest Of World | $235.08M | $230.57M | $264.52M | $269.94M | ||||||
| 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 | $618.32M | $689.14M | $769.33M | $787.78M |
Upwork brought in $787.78M from its five regions in fiscal 2025, the year ended December 31, 2025. That was up 2.4% from $769.33M in fiscal 2024. United States was the largest at $360.20M (45.7%), ahead of Rest Of World at $269.94M (34.3%) and Philippines at $57.87M (7.3%). The other two regions 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%.
Talent was Upwork’s largest revenue line in fiscal 2025, bringing in $443.34M of $787.78M (56%).
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Talent | $334.67M | $369.93M | $439.13M | $443.34M | ||||||
| Freelancers | — | — | — | — | ||||||
| Clients | $283.65M | $319.21M | $330.20M | $344.45M | ||||||
| Total | $618.32M | $689.14M | $769.33M | $787.78M |
Upwork brought in $787.78M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 2.4% from $769.33M in fiscal 2024. Talent was the largest at $443.34M (56.3%), ahead of Clients at $344.45M (43.7%).
Compared with fiscal 2024, Clients grew 4.3% to $344.45M and Talent grew 1.0% to $443.34M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $618.32M to $787.78M, a compound annual growth rate of 8.4%. Talent's share of the total rose from 54.1% to 56.3%.
Upwork (UPWK) reports its revenue by geography, by product and service and by contract with customer, sales channel. In fiscal 2025, United States was its largest region, bringing in $360.20M (45.7% of the total), followed by Rest Of World at $269.94M (34.3%).
United States was Upwork's largest region in fiscal 2025, bringing in $360.20M, or 45.7% of the $787.78M total across its five regions.
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.
Talent was Upwork's largest revenue line in fiscal 2025, bringing in $443.34M, or 56.3% of the $787.78M total across its two revenue lines.
Among Upwork's regions 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 geography 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.