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Upwork, Inc balance sheet

At the end of fiscal 2025, Upwork, Inc had total assets of $1.30bn, total liabilities of $669m and shareholders' equity of $630m. It held $294m in cash against $361m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash and equivalents9022129489418712980306294228
Receivables—312030476765103757679
Total current assets—144256281361930931883911951568
Goodwill—118118118118118118118121149149
Total assets—2753924465291,0811,0801,0381,2121,300931
Accounts payable—0216585689
Deferred revenue (current)—1111417222517789
Total current liabilities—115128149199234248293268650252
Short-term debt—106880——03600
Long-term debt—231811356156435635800
Total debt0342418115755753613613610
Total liabilities—140148187230822831656636669277
Shareholders' equity−30−31244259299260249381575630654
Non-controlling interests and other (assets − liabilities − equity)—166—————————
Shares outstanding—67m106m114m125m129m132m137m135m131m126m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Upwork, Inc's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Upwork, Inc.