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Other financials

Income statement

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Revenue$195.5M+1.4%
Gross profit$150.8M0.0%
Operating income$32.7M-15.4%
Net income$31.5M-16.6%
EPS (diluted)$0.24-11.1%

Balance sheet

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Cash & equivalents$535.9M+2.2%
Total debt$739.7M+99.7%
Total equity$569.6M-4.2%
Total assets$1.2B+0.2%

Cash flow

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Operating cash flow$23.0M-37.7%
CapEx$1.7M-30.3%
Free cash flow$21.3M-38.3%

Valuation

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Market cap$970.85M-43.9%
Enterprise value$1.17B-25.4%
P/E8.9×+1.5×
P/S1.2×-1.0×

Profitability

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Gross margin77.5%-0.2pp
Operating margin15.6%+3.8pp
Net margin13.8%-16.7pp
FCF margin29%+7.0pp

Returns & leverage

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Return on equity18.8%-31.0pp
Debt / equity1.3×+0.7×
Current ratio1.4×-2.0×

Where this comes from

Calculated from Upwork Inc.’s reported figures.

$32.7Mebit+
$9.1MDepreciation Depletion & Amortization
=$41.82M

The official record: Upwork Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upwork Inc.'s EBITDA?
Upwork Inc. (UPWK) reported EBITDA of $41.82M in Q1 2026.
How has Upwork Inc.'s EBITDA changed year-over-year?
Upwork Inc.'s EBITDA decreased by 4.0% year-over-year, from $43.55M to $41.82M.
What is the long-term trend for Upwork Inc.'s EBITDA?
Over 3 years (2022 to 2025), Upwork Inc.'s EBITDA has grown at a 22.4% compound annual growth rate (CAGR), from -$84.57M to $155.02M.
What does EBITDA mean?
Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.