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Other financials

Income statement

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Revenue$191.7M-1.7%
Gross profit$146.4M-3.4%
Operating income$28.1M-13.6%
Net income$25.4M-22.4%
EPS (diluted)$0.20-16.7%

Balance sheet

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Cash & equivalents$673.1M+32.8%
Total debt$740.1M+99.6%
Total equity$611.3M+0.4%
Total assets$1.3B+1.0%

Cash flow

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Operating cash flow$46.9M-35.4%
Free cash flow$45.3M-35.5%

Valuation

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Market cap$1.16B-26.0%
Enterprise value$1.23B-14.3%
P/E11.4×+5.0×
P/S1.5×-0.6×

Profitability

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Gross margin77.2%-0.6pp
Operating margin15.1%+1.4pp
Net margin12.9%-18.8pp
FCF margin26%-0.1pp

Returns & leverage

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Return on equity16.7%-33.9pp
Debt / equity1.2×+0.6×
Current ratio1.4×-1.9×

Where this comes from

Reported directly by Upwork Inc. in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Upwork Inc.’s 10-Q, filed August 10, 2026.

Filed
Aug 10, 2026, 4:50 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001627475-26-000047
(In thousands)Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Proceeds from maturities of marketable securities240,221232,411
Proceeds from sale of marketable securities1,9863,537
Acquisition of business, net of cash acquired(20,410)
Purchases of property and equipment(3,341)(4,853)
Internal-use software and platform development costs(17,709)(8,210)
Net cash provided by (used in) investing activities221,157(56,673)
CASH FLOWS FROM FINANCING ACTIVITIES:
Change in escrow funds payable, net11,68416,574

Item 1. Financial Statements.

FAQ

What is Upwork Inc.'s capex?
Upwork Inc. (UPWK) reported capex of $1.62M in Q2 2026.
How has Upwork Inc.'s capex changed year-over-year?
Upwork Inc.'s capex decreased by 32.0% year-over-year, from $2.38M to $1.62M.
What is the long-term trend for Upwork Inc.'s capex?
Over 4 years (2021 to 2025), Upwork Inc.'s capex has grown at a 54.1% compound annual growth rate (CAGR), from $1.03M to $5.79M.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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