# Upwork Inc. (UPWK)

**Exchange:** NASDAQ  
**Sector:** Communication Services  
**Market cap:** $1.20B  
**Price:** $8.51 (-0.70%)

> Upwork Inc. operates an online marketplace that connects businesses with skilled independent professionals for short-term and longer-term projects worldwide. The platform enables companies to find, hire, and pay freelancers across diverse categories such as development, design, writing, marketing, and administrative support, with AI-enabled matching to enhance efficiency. Key offerings include tiered marketplace plans like Upwork Basic for entry-level access, Upwork Plus for advanced features, Upwork Business for team management tools, Upwork Enterprise for large-scale operations, and Upwork Payroll for streamlined payments and compliance. Serving clients and talent primarily from the USA, India, Pakistan, the Philippines, and other regions, Upwork Inc. generates revenue from both client fees and talent segments. Founded in 2013 and headquartered in Palo Alto, California, it plays a pivotal role in the gig economy by facilitating flexible, on-demand workforce solutions in the commercial services and personnel services sectors.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $788M | $613M | $129M | $115M | — |
| 2024 | $769M | $595M | $65M | $216M | — |
| 2023 | $689M | $519M | -$11M | $47M | — |
| 2022 | $618M | $458M | -$93M | -$90M | — |
| 2021 | $503M | $367M | -$54M | -$56M | — |
| 2020 | $374M | $269M | -$22M | -$23M | — |
| 2019 | $301M | $212M | -$19M | -$17M | — |
| 2018 | $253M | $172M | -$12M | -$20M | — |
| 2017 | $203M | $137M | -$3M | -$4M | — |
| 2016 | $164M | $102M | -$14M | -$16M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $1.30B | $669M | $630M | $294M | $360M |
| 2024 | $1.21B | $636M | $575M | $306M | $358M |
| 2023 | $1.04B | $656M | $381M | $80M | $356M |
| 2022 | $1.08B | $831M | $249M | $129M | $564M |
| 2021 | $1.08B | $822M | $260M | $187M | $561M |
| 2020 | $529M | $230M | $299M | $94M | $11M |
| 2019 | $446M | $187M | $259M | $48M | $18M |
| 2018 | $392M | $148M | $244M | $129M | $24M |
| 2017 | $275M | $140M | -$31M | $22M | $34M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $248M | $6M | $242M |
| 2024 | $154M | $4M | $150M |
| 2023 | $53M | $692,000 | $52M |
| 2022 | $11M | $1M | $10M |
| 2021 | $11M | $1M | $10M |
| 2020 | $22M | $6M | $16M |
| 2019 | $1M | $11M | -$10M |
| 2018 | $14M | $3M | $11M |
| 2017 | -$4M | $2M | -$6M |
| 2016 | $3M | $846,000 | $2M |

Source: [CompaniesByCap](https://companiesbycap.com/company/UPWK)