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Upwork, Inc income statement

In fiscal 2025, Upwork, Inc reported revenue of $788m, up 2.4% on the year before, operating income of $129m (a 16.4% margin) and net income of $115m, or $0.84 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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
Revenue164203253301374503618689769788771
Cost of revenue63658113136160170174175178
Gross profit102137172212269367458519595613593
Research and development3846556483119155177209186169
Selling and marketing37537396133183247221185143142
General and administrative3537496772113124119129147151
Operating income−14−3−12−19−22−54−93−1165129124
Interest expense1121124————
Net interest income—————0824———
Provision for credit losses—————5239676
Income before tax−16−4−20−17−23−56−894990153142
Income tax−0−0000012−1253838
Net income−16−4−20−17−23−56−9047216115104
Diluted EPS−$0.26−$0.16−$0.19−$0.15−$0.19−$0.44−$0.69$0.06$1.52$0.84$0.78
Diluted shares (average)64m66m105m110m119m127m131m137m143m141m133m
EBITDA−13−2−10−16−19−51−85−280155142

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.