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Upwork (UPWK) Financials

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$13.56 +0.40 (+3.04%)
As of 04/24/2025 04:00 PM Eastern
Annual Income Statements for Upwork

Annual Income Statements for Upwork

This table shows Upwork's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
-16 -11 -20 -17 -23 -56 -90 47 216
Consolidated Net Income / (Loss)
-16 -4.12 -20 -17 -23 -56 -90 47 216
Net Income / (Loss) Continuing Operations
-16 -4.12 -20 -17 -23 -56 -90 47 216
Total Pre-Tax Income
-16 -4.15 -20 -17 -23 -56 -89 49 90
Total Operating Income
-14 -3.12 -12 -19 -22 -54 -93 -11 65
Total Gross Profit
102 137 172 212 269 367 458 519 595
Total Revenue
164 203 253 301 374 503 618 689 769
Operating Revenue
164 203 253 301 374 503 618 689 769
Total Cost of Revenue
63 65 81 88 104 136 160 170 174
Operating Cost of Revenue
63 65 81 88 104 136 160 170 174
Total Operating Expenses
116 140 184 231 292 422 551 530 530
Selling, General & Admin Expense
35 37 49 67 72 113 124 119 129
Marketing Expense
37 53 73 96 133 183 247 221 185
Research & Development Expense
38 46 55 64 83 119 155 177 209
Other Operating Expenses / (Income)
- - 5.82 - - - 25 13 6.73
Total Other Income / (Expense), net
-1.77 -1.02 -8.18 2.10 -0.31 -1.90 3.28 60 25
Other Income / (Expense), net
-0.91 -0.06 -6.14 3.41 0.47 -1.90 3.28 60 25
Income Tax Expense
-0.00 -0.02 0.02 0.03 0.15 0.12 0.54 1.99 -125
Basic Earnings per Share
($0.51) ($0.32) ($0.38) ($0.15) ($0.19) ($0.44) ($0.69) $0.35 $1.61
Weighted Average Basic Shares Outstanding
32.07M 32.94M 52.33M 109.81M 118.70M 127.16M 130.52M 134.77M 133.62M
Diluted Earnings per Share
($0.51) ($0.32) ($0.38) ($0.15) ($0.19) ($0.44) ($0.69) $0.06 $1.52
Weighted Average Diluted Shares Outstanding
32.07M 32.94M 52.33M 109.81M 118.70M 127.16M 130.52M 137.26M 143.15M
Weighted Average Basic & Diluted Shares Outstanding
32.07M 32.94M 52.33M 109.81M 118.70M 129.22M 132.48M 137.39M 135.46M

Quarterly Income Statements for Upwork

This table shows Upwork's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders
-25 -17 17 -3.99 16 17 18 22 28 147
Consolidated Net Income / (Loss)
-25 -17 17 -3.99 16 17 18 22 28 147
Net Income / (Loss) Continuing Operations
-25 -17 17 -3.99 16 17 18 22 28 147
Total Pre-Tax Income
-25 -16 18 -2.13 17 16 20 23 29 18
Total Operating Income
-25 -20 -25 -6.12 11 8.43 13 18 21 14
Total Gross Profit
118 120 120 128 132 138 147 149 150 149
Total Revenue
159 161 161 169 176 184 191 193 194 191
Operating Revenue
159 161 161 169 176 184 191 193 194 191
Total Cost of Revenue
40 41 40 41 43 46 44 44 43 43
Operating Cost of Revenue
40 41 40 41 43 46 44 44 43 43
Total Operating Expenses
144 141 145 134 121 130 134 131 130 135
Selling, General & Admin Expense
31 30 29 29 29 32 32 30 31 36
Marketing Expense
63 63 65 59 47 49 48 47 46 44
Research & Development Expense
39 42 44 43 43 46 53 52 50 53
Other Operating Expenses / (Income)
10 6.24 6.70 2.55 1.62 2.11 0.93 1.77 1.80 2.23
Total Other Income / (Expense), net
0.66 4.42 43 3.98 5.77 7.39 6.72 5.62 8.09 4.79
Other Income / (Expense), net
1.77 1.06 43 3.98 5.77 7.39 6.72 5.62 8.09 4.79
Income Tax Expense
0.04 0.44 0.80 1.86 0.90 -1.56 1.33 1.18 1.13 -129
Basic Earnings per Share
($0.19) ($0.13) $0.13 ($0.03) $0.12 $0.13 $0.14 $0.17 $0.21 $1.09
Weighted Average Basic Shares Outstanding
130.83M 130.52M 132.84M 134.14M 135.45M 134.77M 136.36M 131.44M 132.60M 133.62M
Diluted Earnings per Share
($0.19) ($0.13) ($0.15) ($0.03) $0.12 $0.12 $0.13 $0.17 $0.20 $1.02
Weighted Average Diluted Shares Outstanding
130.83M 130.52M 135.97M 134.14M 137.29M 137.26M 143.66M 138.27M 139.29M 143.15M
Weighted Average Basic & Diluted Shares Outstanding
131.34M 132.48M 133.46M 134.88M 136.11M 137.39M 133.12M 132.01M 133.67M 135.46M

Annual Cash Flow Statements for Upwork

This table details how cash moves in and out of Upwork's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
7.91 21 119 -70 73 120 -57 1.19 209
Net Cash From Operating Activities
3.15 -4.00 14 1.06 22 11 11 53 154
Net Cash From Continuing Operating Activities
3.15 -4.00 14 1.06 22 11 11 53 154
Net Income / (Loss) Continuing Operations
-16 -4.12 -20 -17 -23 -56 -90 47 216
Consolidated Net Income / (Loss)
-16 -4.12 -20 -17 -23 -56 -90 47 216
Depreciation Expense
8.46 4.19 4.95 6.66 10 10 8.06 9.45 15
Amortization Expense
0.00 0.05 0.08 2.84 3.60 5.03 4.55 -9.06 -7.23
Non-Cash Adjustments To Reconcile Net Income
13 11 16 21 29 68 100 45 75
Changes in Operating Assets and Liabilities, net
-1.93 -15 13 -13 2.24 -16 -11 -39 -144
Net Cash From Investing Activities
-0.48 -2.32 -6.84 -101 -4.15 -429 -69 88 138
Net Cash From Continuing Investing Activities
-0.48 -2.32 -6.84 -101 -4.15 -429 -69 88 138
Purchase of Property, Plant & Equipment
-0.85 -2.32 -6.84 -17 -14 -6.14 -8.73 -13 -14
Acquisitions
- - - - - 0.00 0.00 -3.00 -14
Purchase of Investments
- 0.00 0.00 -169 -107 -525 -582 -709 -362
Sale and/or Maturity of Investments
- 0.00 0.00 85 118 103 521 814 529
Net Cash From Financing Activities
5.23 28 112 29 55 538 1.14 -140 -82
Net Cash From Continuing Financing Activities
5.23 28 112 29 55 538 1.14 -140 -82
Repayment of Debt
-12 -17 -25 -56 -26 -26 0.00 -171 0.00
Repurchase of Common Equity
- - - - - - 0.00 0.00 -100
Issuance of Common Equity
0.27 2.55 118 25 36 4.79 3.79 4.08 8.09
Other Financing Activities, net
0.00 27 4.52 11 26 -16 -2.65 27 9.96
Cash Interest Paid
1.33 0.85 1.98 1.29 0.76 0.37 1.54 1.32 0.92
Cash Income Taxes Paid
0.00 0.06 - - - 0.00 0.00 1.98 4.59

Quarterly Cash Flow Statements for Upwork

This table details how cash moves in and out of Upwork's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
2.57 -35 -8.60 50 -6.96 -33 -44 154 101 -1.27
Net Cash From Operating Activities
10 13 -8.70 4.31 37 20 5.66 37 102 8.49
Net Cash From Continuing Operating Activities
10 13 -8.70 4.31 37 20 5.66 37 102 8.49
Net Income / (Loss) Continuing Operations
-25 -17 17 -3.99 16 17 18 22 28 147
Consolidated Net Income / (Loss)
-25 -17 17 -3.99 16 17 18 22 28 147
Depreciation Expense
1.98 2.05 2.02 1.85 1.76 3.81 3.15 3.63 3.67 4.37
Amortization Expense
1.20 -0.45 -1.97 -1.40 -2.39 -3.30 -3.57 -1.96 -1.09 -0.61
Non-Cash Adjustments To Reconcile Net Income
31 24 -15 20 15 24 18 21 16 20
Changes in Operating Assets and Liabilities, net
0.98 3.83 -11 -13 6.26 -22 -30 -7.66 56 -162
Net Cash From Investing Activities
11 -37 152 45 -45 -63 6.14 150 2.08 -21
Net Cash From Continuing Investing Activities
11 -37 152 45 -45 -63 6.14 150 2.08 -21
Purchase of Property, Plant & Equipment
-2.63 -2.68 -2.86 -3.35 -3.53 -3.61 -2.67 -3.75 -4.17 -3.87
Purchase of Investments
-167 -184 -156 -98 -195 -260 -150 -44 -40 -128
Sale and/or Maturity of Investments
180 149 311 146 153 203 159 199 46 125
Net Cash From Financing Activities
-18 -12 -152 0.40 1.32 11 -56 -34 -3.19 11
Net Cash From Continuing Financing Activities
-18 -12 -152 0.40 1.32 11 -56 -34 -3.19 11
Issuance of Common Equity
- 1.33 - - - 1.52 - - - 5.17
Other Financing Activities, net
-18 -13 19 -1.59 1.32 9.00 11 -3.62 -3.19 6.11
Cash Income Taxes Paid
- - - - - 1.32 - - - 1.41

Annual Balance Sheets for Upwork

This table presents Upwork's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets
275 392 446 529 1,081 1,080 1,038 1,212
Total Current Assets
144 256 281 361 930 931 883 911
Cash & Equivalents
22 129 48 94 187 129 80 306
Short-Term Investments
- 0.00 85 76 498 557 470 316
Accounts Receivable
31 22 30 47 67 65 103 75
Prepaid Expenses
4.57 6.25 7.89 9.09 17 18 18 18
Other Current Assets
87 98 109 135 161 161 212 196
Plant, Property, & Equipment, net
3.51 11 21 28 21 22 27 30
Total Noncurrent Assets
128 125 144 140 130 127 127 271
Goodwill
118 118 118 118 118 118 118 121
Intangible Assets
8.67 6.00 3.34 0.67 - 0.00 3.05 13
Noncurrent Deferred & Refundable Income Taxes
- - - - - - 0.00 129
Other Noncurrent Operating Assets
0.66 0.65 23 21 12 9.06 5.76 7.67
Total Liabilities & Shareholders' Equity
275 392 446 529 1,081 1,080 1,038 1,212
Total Liabilities
140 148 187 230 822 831 656 636
Total Current Liabilities
115 128 149 199 234 248 293 268
Accounts Payable
0.46 2.07 0.65 6.46 5.00 7.55 5.06 6.13
Accrued Expenses
16 21 18 33 46 54 58 59
Current Deferred Revenue
0.61 0.72 14 17 22 25 17 7.27
Other Current Liabilities
87 98 109 135 161 161 212 196
Total Noncurrent Liabilities
25 20 38 31 588 584 363 368
Long-Term Debt
23 18 11 3.14 561 564 356 358
Other Noncurrent Operating Liabilities
1.94 1.99 27 28 27 19 7.38 9.88
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
-31 244 259 299 260 249 381 575
Total Preferred & Common Equity
-31 244 259 299 260 249 381 575
Total Common Equity
-31 244 259 299 260 249 381 575
Common Stock
92 387 431 494 511 593 675 654
Retained Earnings
-124 -143 -172 -195 -251 -341 -294 -78
Accumulated Other Comprehensive Income / (Loss)
- - - - -0.53 -3.09 0.21 0.26

Quarterly Balance Sheets for Upwork

This table presents Upwork's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets
1,079 918 931 961 1,001 1,009 1,063
Total Current Assets
930 768 780 810 848 856 904
Cash & Equivalents
156 102 154 147 25 183 288
Short-Term Investments
519 408 363 408 466 315 313
Accounts Receivable
67 59 66 60 114 117 69
Prepaid Expenses
17 19 19 17 20 23 19
Other Current Assets
170 179 178 178 223 219 214
Plant, Property, & Equipment, net
21 23 25 27 27 28 30
Total Noncurrent Assets
128 127 126 125 126 125 128
Goodwill
118 118 118 118 118 118 118
Intangible Assets
- - - - 2.66 2.26 1.86
Other Noncurrent Operating Assets
9.82 8.92 7.46 6.55 4.80 4.27 8.42
Total Liabilities & Shareholders' Equity
1,079 918 931 961 1,001 1,009 1,063
Total Liabilities
837 629 624 618 652 647 651
Total Current Liabilities
252 257 255 253 289 285 284
Accounts Payable
5.35 4.25 4.18 1.75 5.92 5.86 5.60
Accrued Expenses
52 48 49 52 47 50 56
Current Deferred Revenue
25 26 24 21 14 11 8.78
Other Current Liabilities
170 179 178 178 223 219 214
Total Noncurrent Liabilities
585 372 369 365 362 362 367
Long-Term Debt
564 355 355 356 357 357 357
Other Noncurrent Operating Liabilities
21 18 14 9.81 5.90 5.36 9.58
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
243 289 307 343 349 361 411
Total Preferred & Common Equity
243 289 307 343 349 361 411
Total Common Equity
243 289 307 343 349 361 411
Common Stock
572 614 636 655 627 615 636
Retained Earnings
-324 -324 -328 -311 -276 -253 -226
Accumulated Other Comprehensive Income / (Loss)
-4.62 -1.16 -0.87 -0.39 -0.39 -0.53 1.22

Annual Metrics and Ratios for Upwork

This table displays calculated financial ratios and metrics derived from Upwork's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - - - - -
Revenue Growth
0.00% 23.17% 25.08% 18.63% 24.31% 34.57% 22.98% 11.45% 11.64%
EBITDA Growth
0.00% 115.19% -1,321.71% 54.59% -40.19% -400.02% -87.94% 164.20% 98.95%
EBIT Growth
0.00% 79.29% -460.57% 14.16% -43.16% -155.79% -59.22% 154.70% 85.01%
NOPAT Growth
0.00% 78.41% -275.02% -59.94% -19.62% -141.95% -70.84% 83.34% 1,539.21%
Net Income Growth
0.00% 74.60% -382.83% 16.32% -37.27% -145.94% -59.82% 152.16% 359.80%
EPS Growth
0.00% 37.25% -18.75% 60.53% -26.67% -131.58% -56.82% 108.70% 2,433.33%
Operating Cash Flow Growth
0.00% -227.10% 443.51% -92.30% 2,013.89% -51.55% 6.10% 358.45% 191.35%
Free Cash Flow Firm Growth
0.00% 0.00% 100.42% -3,016.31% 33.58% -174.78% -64.56% -28.96% 143.90%
Invested Capital Growth
0.00% 0.00% -5.99% 3.83% -2.40% -3.09% -7.00% 47.85% 66.36%
Revenue Q/Q Growth
0.00% 0.00% 0.00% 4.50% 7.44% 6.50% 4.14% 3.37% 0.99%
EBITDA Q/Q Growth
0.00% 0.00% 0.00% 16.90% 46.91% -150.49% 2.40% 225.77% 6.30%
EBIT Q/Q Growth
0.00% 0.00% 0.00% -1.64% 22.58% -78.64% 4.41% 258.39% 2.91%
NOPAT Q/Q Growth
0.00% 0.00% 0.00% -28.71% 25.16% -70.75% 1.41% 64.87% 165.15%
Net Income Q/Q Growth
0.00% 0.00% 0.00% -0.82% 21.94% -71.68% 6.31% 260.31% 151.28%
EPS Q/Q Growth
0.00% 0.00% 0.00% -114.29% 24.00% -76.00% 6.76% 131.58% 145.16%
Operating Cash Flow Q/Q Growth
0.00% 0.00% 153.60% -95.58% 79.36% -66.39% 180.15% 28.51% 9.90%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% -44.88% -177.94% 18.06% -62.98% -9.21%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% -4.87% 1.22% 5.83% -2.89% 30.52% 85.84%
Profitability Metrics
- - - - - - - - -
Gross Margin
61.95% 67.69% 67.85% 70.67% 72.09% 73.05% 74.06% 75.27% 77.37%
EBITDA Margin
-4.20% 0.52% -5.06% -1.94% -2.19% -8.12% -12.41% 7.15% 12.74%
Operating Margin
-8.80% -1.54% -4.62% -6.23% -6.00% -10.78% -14.98% -1.63% 8.48%
EBIT Margin
-9.35% -1.57% -7.05% -5.10% -5.87% -11.16% -14.45% 7.09% 11.75%
Profit (Net Income) Margin
-9.87% -2.04% -7.86% -5.54% -6.12% -11.19% -14.54% 6.80% 28.02%
Tax Burden Percent
99.99% 99.47% 100.08% 100.17% 100.66% 100.22% 100.60% 95.93% 238.41%
Interest Burden Percent
105.58% 130.14% 111.41% 108.52% 103.55% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.07% -138.41%
Return on Invested Capital (ROIC)
0.00% -2.97% -5.74% -9.29% -11.04% -27.46% -49.39% -6.89% 62.40%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% -34.62% 19.45% -6.08% -5.81% -14.51% -29.01% -43.36% 36.15%
Return on Net Nonoperating Assets (RNNOA)
0.00% -3.14% -4.77% 2.67% 2.85% 7.33% 14.03% 21.77% -17.32%
Return on Equity (ROE)
0.00% -6.10% -10.51% -6.62% -8.19% -20.13% -35.36% 14.89% 45.08%
Cash Return on Invested Capital (CROIC)
0.00% -202.97% 0.44% -13.05% -8.61% -24.32% -42.14% -45.50% 12.57%
Operating Return on Assets (OROA)
0.00% -1.16% -5.36% -3.66% -4.50% -6.97% -8.27% 4.62% 8.04%
Return on Assets (ROA)
0.00% -1.50% -5.97% -3.98% -4.69% -6.99% -8.32% 4.43% 19.17%
Return on Common Equity (ROCE)
0.00% 1.42% -5.89% -6.62% -8.19% -20.13% -35.36% 14.89% 45.08%
Return on Equity Simple (ROE_SIMPLE)
0.00% 13.14% -8.17% -6.42% -7.64% -21.67% -36.12% 12.30% 37.47%
Net Operating Profit after Tax (NOPAT)
-10 -2.19 -8.20 -13 -16 -38 -65 -11 155
NOPAT Margin
-6.16% -1.08% -3.24% -4.36% -4.20% -7.55% -10.49% -1.57% 20.21%
Net Nonoperating Expense Percent (NNEP)
0.00% 31.65% -25.19% -3.21% -5.23% -12.95% -20.38% 36.47% 26.25%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - -7.97% -1.47% 16.66%
Cost of Revenue to Revenue
38.05% 32.31% 32.15% 29.33% 27.91% 26.95% 25.94% 24.73% 22.63%
SG&A Expenses to Revenue
21.55% 18.43% 19.47% 22.40% 19.14% 22.49% 20.05% 17.26% 16.74%
R&D to Revenue
23.05% 22.51% 21.90% 21.30% 22.34% 23.68% 25.00% 25.74% 27.20%
Operating Expenses to Revenue
70.74% 69.23% 72.47% 76.91% 78.09% 83.83% 89.04% 76.90% 68.89%
Earnings before Interest and Taxes (EBIT)
-15 -3.19 -18 -15 -22 -56 -89 49 90
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-6.91 1.05 -13 -5.83 -8.17 -41 -77 49 98
Valuation Ratios
- - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 7.90 4.61 14.08 16.88 5.51 5.31 3.80
Price to Tangible Book Value (P/TBV)
0.00 0.00 16.11 8.67 23.36 31.00 10.49 7.79 4.95
Price to Revenue (P/Rev)
1.14 0.92 7.60 3.98 11.28 8.71 2.22 2.94 2.84
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 43.17 10.14
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.32% 9.86%
Enterprise Value to Invested Capital (EV/IC)
0.00 2.48 13.14 7.51 28.89 31.29 9.87 9.78 6.17
Enterprise Value to Revenue (EV/Rev)
0.00 1.81 7.18 3.59 10.85 8.47 2.02 2.66 2.50
Enterprise Value to EBITDA (EV/EBITDA)
0.00 348.45 0.00 0.00 0.00 0.00 0.00 37.15 19.60
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 37.44 21.25
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.36
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 132.41 1,020.48 181.31 392.86 108.63 34.72 12.51
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 2,881.35 0.00 0.00 0.00 0.00 0.00 61.35
Leverage & Solvency
- - - - - - - - -
Debt to Equity
0.00 0.25 0.10 0.07 0.04 2.16 2.27 0.93 0.62
Long-Term Debt to Equity
0.00 0.17 0.07 0.04 0.01 2.16 2.27 0.93 0.62
Financial Leverage
0.00 0.09 -0.25 -0.44 -0.49 -0.51 -0.48 -0.50 -0.48
Leverage Ratio
0.00 2.04 1.76 1.67 1.75 2.88 4.25 3.36 2.35
Compound Leverage Factor
0.00 2.65 1.96 1.81 1.81 2.88 4.25 3.36 2.35
Debt to Total Capital
0.00% 20.03% 8.93% 6.58% 3.46% 68.38% 69.39% 48.31% 38.35%
Short-Term Debt to Total Capital
0.00% 6.12% 2.12% 2.73% 2.45% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 13.90% 6.81% 3.85% 1.01% 68.38% 69.39% 48.31% 38.35%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 98.54% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
0.00% -18.57% 91.07% 93.42% 96.54% 31.62% 30.61% 51.69% 61.65%
Debt to EBITDA
0.00 32.22 -1.86 -3.14 -1.31 -13.75 -7.35 7.23 3.65
Net Debt to EBITDA
0.00 11.66 8.20 19.84 19.46 3.02 1.59 -3.94 -2.70
Long-Term Debt to EBITDA
0.00 22.37 -1.42 -1.84 -0.38 -13.75 -7.35 7.23 3.65
Debt to NOPAT
0.00 -15.48 -2.92 -1.39 -0.68 -14.79 -8.70 -32.97 2.30
Net Debt to NOPAT
0.00 -5.60 12.83 8.82 10.13 3.25 1.89 17.96 -1.70
Long-Term Debt to NOPAT
0.00 -10.75 -2.22 -0.82 -0.20 -14.79 -8.70 -32.97 2.30
Altman Z-Score
0.00 1.00 8.19 4.21 11.42 3.94 1.61 2.96 3.49
Noncontrolling Interest Sharing Ratio
0.00% 123.21% 43.94% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - -
Current Ratio
0.00 1.26 2.01 1.88 1.82 3.98 3.76 3.01 3.39
Quick Ratio
0.00 0.46 1.19 1.10 1.09 3.22 3.03 2.23 2.60
Cash Flow Metrics
- - - - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -150 0.63 -18 -12 -34 -55 -71 31
Operating Cash Flow to CapEx
372.10% -172.53% 200.91% 6.36% 155.69% 176.57% 131.65% 394.79% 1,063.16%
Free Cash Flow to Firm to Interest Expense
0.00 -155.77 0.31 -14.10 -15.72 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
3.67 -4.17 6.74 0.81 28.75 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
2.68 -6.58 3.39 -11.93 10.28 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - -
Asset Turnover
0.00 0.74 0.76 0.72 0.77 0.62 0.57 0.65 0.68
Accounts Receivable Turnover
0.00 6.58 9.55 11.46 9.68 8.83 9.39 8.21 8.62
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 57.64 35.36 18.63 15.07 20.33 28.50 28.01 26.90
Accounts Payable Turnover
0.00 141.65 64.27 64.69 29.34 23.67 25.57 27.03 31.11
Days Sales Outstanding (DSO)
0.00 55.43 38.23 31.86 37.70 41.32 38.88 44.48 42.36
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 2.58 5.68 5.64 12.44 15.42 14.27 13.50 11.73
Cash Conversion Cycle (CCC)
0.00 52.86 32.55 26.22 25.26 25.90 24.60 30.97 30.62
Capital & Investment Metrics
- - - - - - - - -
Invested Capital
0.00 147 139 144 140 136 127 187 311
Invested Capital Turnover
0.00 2.75 1.77 2.13 2.63 3.64 4.71 4.40 3.09
Increase / (Decrease) in Invested Capital
0.00 147 -8.83 5.31 -3.45 -4.34 -9.52 61 124
Enterprise Value (EV)
0.00 366 1,820 1,080 4,055 4,257 1,249 1,830 1,921
Market Capitalization
187 187 1,925 1,195 4,214 4,380 1,371 2,024 2,185
Book Value per Share
$0.00 ($0.95) $2.29 $2.32 $2.45 $2.02 $1.89 $2.80 $4.30
Tangible Book Value per Share
$0.00 ($4.80) $1.12 $1.23 $1.48 $1.10 $0.99 $1.91 $3.30
Total Capital
0.00 169 268 278 310 821 813 737 933
Total Debt
0.00 34 24 18 11 561 564 356 358
Total Long-Term Debt
0.00 23 18 11 3.14 561 564 356 358
Net Debt
0.00 12 -105 -116 -159 -123 -122 -194 -264
Capital Expenditures (CapEx)
0.85 2.32 6.84 17 14 6.14 8.73 13 14
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 18 4.83 5.25 -0.02 11 -3.40 40 21
Debt-free Net Working Capital (DFNWC)
0.00 40 134 139 170 696 683 590 643
Net Working Capital (NWC)
0.00 29 128 132 162 696 683 590 643
Net Nonoperating Expense (NNE)
6.11 1.94 12 3.55 7.18 18 25 -58 -60
Net Nonoperating Obligations (NNO)
0.00 12 -105 -116 -159 -123 -122 -194 -264
Total Depreciation and Amortization (D&A)
8.46 4.24 5.03 9.50 14 15 13 0.39 7.58
Debt-free, Cash-free Net Working Capital to Revenue
0.00% 9.00% 1.90% 1.75% 0.00% 2.24% -0.55% 5.84% 2.67%
Debt-free Net Working Capital to Revenue
0.00% 19.66% 52.87% 46.29% 45.40% 138.43% 110.50% 85.67% 83.53%
Net Working Capital to Revenue
0.00% 14.56% 50.63% 43.76% 43.37% 138.43% 110.50% 85.67% 83.53%
Earnings Adjustments
- - - - - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 ($0.38) ($0.15) ($0.19) ($0.44) ($0.69) $0.35 $1.61
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 106.69M 113.93M 124.96M 127.16M 130.52M 134.77M 133.62M
Adjusted Diluted Earnings per Share
$0.00 $0.00 ($0.38) ($0.15) ($0.19) ($0.44) ($0.69) $0.06 $1.52
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 106.69M 113.93M 124.96M 127.16M 130.52M 137.26M 143.15M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 ($0.38) ($0.15) ($0.19) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 52.33M 109.81M 118.70M 129.22M 132.48M 137.39M 135.46M
Normalized Net Operating Profit after Tax (NOPAT)
-10 -2.19 -8.20 -10 -13 -34 -65 -11 46
Normalized NOPAT Margin
-6.16% -1.08% -3.24% -3.45% -3.53% -6.71% -10.49% -1.57% 5.93%
Pre Tax Income Margin
-9.87% -2.05% -7.85% -5.53% -6.08% -11.16% -14.45% 7.09% 11.75%
Debt Service Ratios
- - - - - - - - -
EBIT to Interest Expense
-17.92 -3.32 -8.76 -11.73 -28.20 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
-11.80 -2.28 -4.02 -10.04 -20.16 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
-18.91 -5.73 -12.12 -24.47 -46.66 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
-12.79 -4.69 -7.38 -22.78 -38.63 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 46.39%

Quarterly Metrics and Ratios for Upwork

This table displays calculated financial ratios and metrics derived from Upwork's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
23.80% 17.96% 13.81% 7.47% 10.77% 13.93% 18.70% 14.54% 10.27% 4.10%
EBITDA Growth
-337.83% 9.57% 192.16% 91.13% 181.04% 191.60% 7.40% 1,596.54% 89.52% 35.59%
EBIT Growth
-177.20% 17.52% 176.16% 90.59% 172.80% 181.44% 10.07% 1,196.58% 67.62% 16.15%
NOPAT Growth
-205.90% 6.08% -44.54% 73.46% 161.04% 164.57% 150.86% 494.37% 83.82% 1,075.36%
Net Income Growth
-166.64% 26.85% 169.40% 83.25% 165.80% 205.30% 7.43% 656.75% 69.91% 747.05%
EPS Growth
-171.43% 27.78% 21.05% 83.33% 163.16% 192.31% 186.67% 666.67% 66.67% 750.00%
Operating Cash Flow Growth
-51.95% 207.59% 24.18% 1,066.14% 268.56% 50.44% 165.00% 765.40% 176.38% -57.87%
Free Cash Flow Firm Growth
-553.61% 55.91% -86.53% 43.37% 88.99% -964.26% -251.34% -605.21% -92.83% 70.11%
Invested Capital Growth
1.36% -7.00% -3.18% 2.79% 10.00% 47.85% 60.27% 51.53% 16.84% 66.36%
Revenue Q/Q Growth
1.11% 1.77% -0.36% 4.82% 4.22% 4.67% 3.81% 1.15% 0.34% -1.18%
EBITDA Q/Q Growth
-8.47% 13.02% 201.10% -109.30% 1,091.10% -1.68% 23.94% 29.56% 25.51% -29.66%
EBIT Q/Q Growth
-4.40% 17.95% 192.48% -111.88% 907.50% -8.21% 30.88% 18.36% 23.43% -36.40%
NOPAT Q/Q Growth
-10.39% 19.50% -66.90% 82.11% 353.91% -14.84% 31.48% 38.71% 18.35% 444.53%
Net Income Q/Q Growth
-4.23% 33.54% 204.04% -123.25% 509.35% 6.35% 6.15% 20.49% 24.92% 430.18%
EPS Q/Q Growth
-5.56% 31.58% -15.38% 80.00% 500.00% 0.00% 8.33% 30.77% 17.65% 410.00%
Operating Cash Flow Q/Q Growth
2,347.98% 33.58% -202.91% 149.52% 757.55% -45.48% 205.94% 559.30% 173.88% -91.69%
Free Cash Flow Firm Q/Q Growth
-34.52% 75.36% -305.30% 57.85% 73.84% -2,281.23% -33.80% 15.39% 92.85% -269.16%
Invested Capital Q/Q Growth
-7.90% -2.89% 5.93% 8.50% -1.44% 30.52% 14.84% 2.58% -24.01% 85.84%
Profitability Metrics
- - - - - - - - - -
Gross Margin
74.49% 74.51% 74.87% 75.75% 75.38% 75.06% 76.85% 77.29% 77.60% 77.73%
EBITDA Margin
-12.91% -11.04% 11.20% -0.99% 9.45% 8.87% 10.13% 12.98% 16.24% 11.56%
Operating Margin
-16.04% -12.69% -15.57% -3.63% 6.52% 4.58% 6.83% 9.21% 10.73% 7.09%
EBIT Margin
-14.92% -12.03% 11.17% -1.27% 9.81% 8.60% 10.35% 12.12% 14.91% 9.59%
Profit (Net Income) Margin
-15.65% -10.22% 10.67% -2.37% 9.30% 9.45% 9.66% 11.51% 14.32% 76.86%
Tax Burden Percent
100.16% 102.74% 95.57% 187.02% 94.81% 109.84% 93.28% 94.95% 96.10% 801.08%
Interest Burden Percent
104.72% 82.69% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
0.00% 0.00% 4.43% 0.00% 5.19% -9.84% 6.72% 5.05% 3.90% -701.08%
Return on Invested Capital (ROIC)
-51.50% -41.83% -69.65% -11.50% 30.14% 22.12% 26.29% 35.55% 50.55% 175.48%
ROIC Less NNEP Spread (ROIC-NNEP)
-45.85% -40.07% -100.57% -11.72% 26.64% 16.99% 21.95% 32.02% 47.05% 158.73%
Return on Net Nonoperating Assets (RNNOA)
22.46% 19.37% 49.67% 5.64% -14.19% -8.53% -9.94% -14.49% -27.66% -76.04%
Return on Equity (ROE)
-29.04% -22.45% -19.99% -5.86% 15.95% 13.59% 16.34% 21.06% 22.90% 99.44%
Cash Return on Invested Capital (CROIC)
-52.16% -42.14% -45.07% -40.37% -32.00% -45.50% -31.70% -13.91% 22.20% 12.57%
Operating Return on Assets (OROA)
-8.15% -6.88% 7.06% -0.81% 6.41% 5.60% 7.76% 9.29% 11.22% 6.56%
Return on Assets (ROA)
-8.55% -5.85% 6.75% -1.52% 6.07% 6.15% 7.24% 8.83% 10.78% 52.58%
Return on Common Equity (ROCE)
-29.04% -22.45% -19.99% -5.86% 15.95% 13.59% 16.34% 21.06% 22.90% 99.44%
Return on Equity Simple (ROE_SIMPLE)
-39.55% 0.00% -16.60% -9.17% 3.79% 0.00% 13.80% 20.60% 20.87% 0.00%
Net Operating Profit after Tax (NOPAT)
-18 -14 -24 -4.28 11 9.26 12 17 20 109
NOPAT Margin
-11.23% -8.88% -14.88% -2.54% 6.19% 5.03% 6.37% 8.74% 10.31% 56.83%
Net Nonoperating Expense Percent (NNEP)
-5.65% -1.76% 30.92% 0.22% 3.51% 5.13% 4.34% 3.53% 3.51% 16.74%
Return On Investment Capital (ROIC_SIMPLE)
- -1.76% - - - 1.26% - - - 11.66%
Cost of Revenue to Revenue
25.51% 25.49% 25.13% 24.25% 24.62% 24.94% 23.15% 22.71% 22.40% 22.27%
SG&A Expenses to Revenue
19.80% 18.63% 18.21% 17.19% 16.30% 17.40% 16.76% 15.49% 16.14% 18.59%
R&D to Revenue
24.52% 25.81% 27.65% 25.65% 24.71% 25.13% 27.71% 27.17% 26.02% 27.94%
Operating Expenses to Revenue
90.53% 87.19% 90.43% 79.38% 68.85% 70.48% 70.02% 68.09% 66.87% 70.64%
Earnings before Interest and Taxes (EBIT)
-24 -19 18 -2.13 17 16 20 23 29 18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-20 -18 18 -1.68 17 16 19 25 31 22
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
7.33 5.51 5.19 4.06 4.47 5.31 4.78 3.96 3.36 3.80
Price to Tangible Book Value (P/TBV)
14.30 10.49 8.78 6.61 6.82 7.79 7.32 5.95 4.74 4.95
Price to Revenue (P/Rev)
2.99 2.22 2.35 1.92 2.30 2.94 2.32 1.92 1.81 2.84
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 117.75 43.17 34.65 19.24 16.08 10.14
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.85% 2.32% 2.89% 5.20% 6.22% 9.86%
Enterprise Value to Invested Capital (EV/IC)
12.78 9.87 10.03 7.46 9.30 9.78 7.14 5.86 6.78 6.17
Enterprise Value to Revenue (EV/Rev)
2.81 2.02 2.11 1.67 2.00 2.66 2.13 1.73 1.49 2.50
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 88.13 37.15 30.33 16.68 12.32 19.60
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 97.72 37.44 30.28 16.93 12.93 21.25
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 60.20 26.07 19.37 12.36
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 108.63 144.07 77.01 32.49 34.72 36.91 17.31 8.13 12.51
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 32.93 61.35
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
2.32 2.27 1.23 1.16 1.04 0.93 1.02 0.99 0.87 0.62
Long-Term Debt to Equity
2.32 2.27 1.23 1.16 1.04 0.93 1.02 0.99 0.87 0.62
Financial Leverage
-0.49 -0.48 -0.49 -0.48 -0.53 -0.50 -0.45 -0.45 -0.59 -0.48
Leverage Ratio
4.28 4.25 3.75 3.66 3.49 3.36 3.01 2.90 2.68 2.35
Compound Leverage Factor
4.49 3.52 3.75 3.66 3.49 3.36 3.01 2.90 2.68 2.35
Debt to Total Capital
69.91% 69.39% 55.11% 53.64% 50.91% 48.31% 50.54% 49.72% 46.51% 38.35%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
69.91% 69.39% 55.11% 53.64% 50.91% 48.31% 50.54% 49.72% 46.51% 38.35%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
30.09% 30.61% 44.89% 46.36% 49.09% 51.69% 49.46% 50.28% 53.49% 61.65%
Debt to EBITDA
-7.17 -7.35 -9.05 -16.17 23.52 7.23 7.05 4.62 3.88 3.65
Net Debt to EBITDA
1.43 1.59 3.95 7.35 -13.20 -3.94 -2.65 -1.82 -2.64 -2.70
Long-Term Debt to EBITDA
-7.17 -7.35 -9.05 -16.17 23.52 7.23 7.05 4.62 3.88 3.65
Debt to NOPAT
-8.57 -8.70 -5.39 -6.58 -11.57 -32.97 13.99 7.21 6.10 2.30
Net Debt to NOPAT
1.71 1.89 2.35 2.99 6.49 17.96 -5.26 -2.84 -4.16 -1.70
Long-Term Debt to NOPAT
-8.57 -8.70 -5.39 -6.58 -11.57 -32.97 13.99 7.21 6.10 2.30
Altman Z-Score
2.09 1.82 2.36 2.07 2.48 2.85 2.60 2.47 2.48 3.29
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
3.69 3.76 2.99 3.06 3.20 3.01 2.93 3.00 3.18 3.39
Quick Ratio
2.95 3.03 2.22 2.29 2.43 2.23 2.09 2.15 2.36 2.60
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-20 -4.82 -20 -8.23 -2.15 -51 -69 -58 -4.15 -15
Operating Cash Flow to CapEx
381.65% 499.74% -304.12% 128.78% 1,046.80% 557.50% 212.23% 995.20% 2,450.88% 219.64%
Free Cash Flow to Firm to Interest Expense
-17.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
8.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
6.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.55 0.57 0.63 0.64 0.65 0.65 0.75 0.77 0.75 0.68
Accounts Receivable Turnover
9.48 9.39 10.51 9.54 10.47 8.21 8.28 8.14 11.75 8.62
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
27.09 28.50 28.97 28.43 27.69 28.01 28.64 28.06 26.95 26.90
Accounts Payable Turnover
35.83 25.57 22.36 34.45 46.68 27.03 34.28 35.29 48.26 31.11
Days Sales Outstanding (DSO)
38.51 38.88 34.72 38.26 34.86 44.48 44.07 44.86 31.07 42.36
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
10.19 14.27 16.33 10.59 7.82 13.50 10.65 10.34 7.56 11.73
Cash Conversion Cycle (CCC)
28.33 24.60 18.39 27.66 27.04 30.97 33.43 34.52 23.51 30.62
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
130 127 134 145 143 187 215 220 167 311
Invested Capital Turnover
4.59 4.71 4.68 4.53 4.87 4.40 4.12 4.07 4.90 3.09
Increase / (Decrease) in Invested Capital
1.75 -9.52 -4.40 3.95 13 61 81 75 24 124
Enterprise Value (EV)
1,666 1,249 1,345 1,085 1,333 1,830 1,535 1,290 1,136 1,921
Market Capitalization
1,778 1,371 1,500 1,247 1,532 2,024 1,669 1,431 1,379 2,185
Book Value per Share
$1.86 $1.89 $2.18 $2.30 $2.54 $2.80 $2.56 $2.71 $3.11 $4.30
Tangible Book Value per Share
$0.95 $0.99 $1.29 $1.41 $1.67 $1.91 $1.67 $1.81 $2.21 $3.30
Total Capital
806 813 644 662 699 737 705 718 769 933
Total Debt
564 564 355 355 356 356 357 357 357 358
Total Long-Term Debt
564 564 355 355 356 356 357 357 357 358
Net Debt
-112 -122 -155 -162 -200 -194 -134 -141 -244 -264
Capital Expenditures (CapEx)
2.63 2.68 2.86 3.35 3.53 3.61 2.67 3.75 4.17 3.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)
1.89 -3.40 1.37 8.63 1.70 40 68 73 19 21
Debt-free Net Working Capital (DFNWC)
678 683 511 525 557 590 559 571 620 643
Net Working Capital (NWC)
678 683 511 525 557 590 559 571 620 643
Net Nonoperating Expense (NNE)
7.02 2.16 -41 -0.29 -5.47 -8.12 -6.27 -5.34 -7.78 -38
Net Nonoperating Obligations (NNO)
-112 -122 -155 -162 -200 -194 -134 -141 -244 -264
Total Depreciation and Amortization (D&A)
3.18 1.60 0.05 0.46 -0.63 0.51 -0.42 1.67 2.58 3.76
Debt-free, Cash-free Net Working Capital to Revenue
0.32% -0.55% 0.22% 1.33% 0.26% 5.84% 9.44% 9.79% 2.45% 2.67%
Debt-free Net Working Capital to Revenue
114.14% 110.50% 80.11% 80.87% 83.55% 85.67% 77.66% 76.72% 81.37% 83.53%
Net Working Capital to Revenue
114.14% 110.50% 80.11% 80.87% 83.55% 85.67% 77.66% 76.72% 81.37% 83.53%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
($0.19) ($0.13) $0.13 ($0.03) $0.12 $0.13 $0.14 $0.17 $0.21 $1.09
Adjusted Weighted Average Basic Shares Outstanding
130.83M 130.52M 132.84M 134.14M 135.45M 134.77M 136.36M 131.44M 132.60M 133.62M
Adjusted Diluted Earnings per Share
($0.19) ($0.13) ($0.15) ($0.03) $0.12 $0.12 $0.13 $0.17 $0.20 $1.02
Adjusted Weighted Average Diluted Shares Outstanding
130.83M 130.52M 135.97M 134.14M 137.29M 137.26M 143.66M 138.27M 139.29M 143.15M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
131.34M 132.48M 133.46M 134.88M 136.11M 137.39M 133.12M 132.01M 133.67M 135.46M
Normalized Net Operating Profit after Tax (NOPAT)
-18 -14 -24 -4.28 11 5.90 12 17 20 9.51
Normalized NOPAT Margin
-11.23% -8.88% -14.88% -2.54% 6.19% 3.21% 6.37% 8.74% 10.31% 4.97%
Pre Tax Income Margin
-15.62% -9.95% 11.17% -1.27% 9.81% 8.60% 10.35% 12.12% 14.91% 9.59%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
-21.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
-15.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
-23.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
-18.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 46.39%

Frequently Asked Questions About Upwork's Financials

When does Upwork's fiscal year end?

According to the most recent income statement we have on file, Upwork's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Upwork's net income changed over the last 8 years?

Upwork's net income appears to be on an upward trend, with a most recent value of $215.59 million in 2024, falling from -$16.23 million in 2016. The previous period was $46.89 million in 2023.

What is Upwork's operating income?
Upwork's total operating income in 2024 was $65.21 million, based on the following breakdown:
  • Total Gross Profit: $595.23 million
  • Total Operating Expenses: $530.03 million
How has Upwork revenue changed over the last 8 years?

Over the last 8 years, Upwork's total revenue changed from $164.45 million in 2016 to $769.33 million in 2024, a change of 367.8%.

How much debt does Upwork have?

Upwork's total liabilities were at $636.24 million at the end of 2024, a 3.1% decrease from 2023, and a 354.2% increase since 2017.

How much cash does Upwork have?

In the past 7 years, Upwork's cash and equivalents has ranged from $21.60 million in 2017 to $305.76 million in 2024, and is currently $305.76 million as of their latest financial filing in 2024.

How has Upwork's book value per share changed over the last 8 years?

Over the last 8 years, Upwork's book value per share changed from 0.00 in 2016 to 4.30 in 2024, a change of 430.5%.



This page (NASDAQ:UPWK) was last updated on 4/25/2025 by MarketBeat.com Staff
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