UPWK
Income statement / Annual
Last year (2024), Upwork Inc.'s total revenue was $769.33 M,
an increase of 11.64% from the previous year.
In 2024, Upwork Inc.'s net income was $215.59 M.
See Upwork Inc.,s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2024
|
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
| Period Ended |
12/31/2024 |
12/31/2023 |
12/31/2022 |
12/31/2021 |
12/31/2020 |
12/31/2019 |
12/31/2018 |
12/31/2017 |
12/31/2016 |
| Operating Revenue |
$769.33 M |
$689.14 M |
$618.32 M |
$502.80 M |
$373.63 M |
$300.56 M |
$253.35 M |
$202.55 M |
$164.45 M |
| Cost of Revenue |
$174.09 M
|
$170.45 M
|
$160.40 M
|
$135.51 M
|
$104.27 M
|
$88.14 M
|
$81.46 M
|
$65.44 M
|
$62.58 M
|
| Gross Profit |
$595.23 M
|
$518.69 M
|
$457.92 M
|
$367.29 M
|
$269.36 M
|
$212.42 M
|
$171.90 M
|
$137.11 M
|
$101.87 M
|
| Gross Profit Ratio |
0.77
|
0.75
|
0.74
|
0.73
|
0.72
|
0.71
|
0.68
|
0.68
|
0.62
|
| Research and Development Expenses |
$209.28 M
|
$177.36 M
|
$154.55 M
|
$119.08 M
|
$83.47 M
|
$64.03 M
|
$55.49 M
|
$45.60 M
|
$37.90 M
|
| General & Administrative Expenses |
$128.80 M
|
$118.93 M
|
$123.95 M
|
$113.08 M
|
$71.52 M
|
$67.33 M
|
$49.34 M
|
$37.33 M
|
$35.45 M
|
| Selling & Marketing Expenses |
$185.21 M
|
$220.68 M
|
$246.88 M
|
$183.29 M
|
$133.23 M
|
$95.89 M
|
$72.96 M
|
$53.04 M
|
$37.44 M
|
| Selling, General & Administrative Expenses |
$314.01 M
|
$339.61 M
|
$370.83 M
|
$296.38 M
|
$204.74 M
|
$163.22 M
|
$122.30 M
|
$90.38 M
|
$72.88 M
|
| Other Expenses |
$6.73 M
|
$12.98 M
|
$25.15 M
|
$6.05 M
|
$3.56 M
|
$3.91 M
|
-$6.14 M
|
-$62,000.00
|
-$908,000.00
|
| Operating Expenses |
$530.03 M
|
$529.95 M
|
$550.54 M
|
$421.51 M
|
$291.77 M
|
$231.15 M
|
$183.61 M
|
$140.23 M
|
$116.34 M
|
| Cost And Expenses |
$704.12 M
|
$700.40 M
|
$710.94 M
|
$557.01 M
|
$396.04 M
|
$319.29 M
|
$265.07 M
|
$205.68 M
|
$178.91 M
|
| Interest Income |
$0.00
|
$0.00
|
$3.48 M
|
$1.40 M
|
$291,000.00
|
$1.20 M
|
$0.00
|
$0.00
|
$0.00
|
| Interest Expense |
$0.00
|
$1.00 M
|
$4.48 M
|
$2.18 M
|
$778,000.00
|
$1.31 M
|
$2.04 M
|
$960,000.00
|
$858,000.00
|
| Depreciation & Amortization |
$0.00
|
$12.72 M
|
$11.14 M
|
$13.81 M
|
$14.03 M
|
$9.45 M
|
$4.95 M
|
$4.19 M
|
$8.46 M
|
| EBITDA |
$65.21 M |
$1.46 M |
-$81.49 M |
-$40.13 M |
-$7.91 M |
-$5.88 M |
-$12.91 M |
$1.00 M |
-$6.91 M |
| EBITDA Ratio |
0.08
|
0
|
-0.12
|
-0.08
|
-0.02
|
-0.02
|
-0.05
|
0
|
-0.04
|
| Operating Income Ratio |
0.08
|
-0.02
|
-0.15
|
-0.11
|
-0.06
|
-0.06
|
-0.05
|
-0.02
|
-0.09
|
| Total Other Income/Expenses Net |
$25.22 M
|
$60.14 M
|
$3.28 M
|
-$1.90 M
|
-$309,000.00
|
$2.10 M
|
-$8.18 M
|
-$1.02 M
|
-$1.77 M
|
| Income Before Tax |
$90.43 M
|
$48.88 M
|
-$89.35 M
|
-$56.12 M
|
-$22.72 M
|
-$16.63 M
|
-$19.89 M
|
-$4.15 M
|
-$16.23 M
|
| Income Before Tax Ratio |
0.12
|
0.07
|
-0.14
|
-0.11
|
-0.06
|
-0.06
|
-0.08
|
-0.02
|
-0.1
|
| Income Tax Expense |
-$125.16 M
|
$1.99 M
|
$536,000.00
|
$122,000.00
|
$150,000.00
|
$28,000.00
|
$15,000.00
|
-$22,000.00
|
-$1,000.00
|
| Net Income |
$215.59 M
|
$46.89 M
|
-$89.89 M
|
-$56.24 M
|
-$22.87 M
|
-$16.66 M
|
-$19.91 M
|
-$4.12 M
|
-$16.23 M
|
| Net Income Ratio |
0.28
|
0.07
|
-0.15
|
-0.11
|
-0.06
|
-0.06
|
-0.08
|
-0.02
|
-0.1
|
| EPS |
1.61 |
0.35 |
-0.69 |
-0.44 |
-0.19 |
-0.15 |
-0.38 |
-0.043 |
-0.17 |
| EPS Diluted |
1.51 |
0.34 |
-0.69 |
-0.44 |
-0.19 |
-0.15 |
-0.38 |
-0.043 |
-0.17 |
| Weighted Average Shares Out |
$133.62 M
|
$134.77 M
|
$130.52 M
|
$127.16 M
|
$118.70 M
|
$109.81 M
|
$52.33 M
|
$95.93 M
|
$95.93 M
|
| Weighted Average Shares Out Diluted |
$143.15 M
|
$137.26 M
|
$130.52 M
|
$127.16 M
|
$118.70 M
|
$109.81 M
|
$52.33 M
|
$95.93 M
|
$95.93 M
|
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