What is Upwork Inc.'s gross profit?

Upwork Inc. (UPWK) reported gross profit of $150.84M in Q1 2026.

How has Upwork Inc.'s gross profit changed year-over-year?

Upwork Inc.'s gross profit decreased by 0.0% year-over-year, from $150.9M to $150.84M.

What is the long-term trend for Upwork Inc.'s gross profit?

Over 4 years (2021 to 2025), Upwork Inc.'s gross profit has grown at a 13.7% compound annual growth rate (CAGR), from $367.29M to $613.03M.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

Upwork Inc. UPWK Gross Profit

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Other financials

Income statement

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Revenue$195.5M+1.4%

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$1.02B-41.3%

Enterprise value$1.22B-22.6%

P/E9.3×+1.9×

P/S1.3×-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.

$195.5Mtotal revenue−$44.6Mtotal cost of revenue=$150.84M

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 gross profit?: Upwork Inc. (UPWK) reported gross profit of $150.84M in Q1 2026.
How has Upwork Inc.'s gross profit changed year-over-year?: Upwork Inc.'s gross profit decreased by 0.0% year-over-year, from $150.9M to $150.84M.
What is the long-term trend for Upwork Inc.'s gross profit?: Over 4 years (2021 to 2025), Upwork Inc.'s gross profit has grown at a 13.7% compound annual growth rate (CAGR), from $367.29M to $613.03M.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.