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Upwork Inc. UPWK Operating lease liability

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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

Reported directly by Upwork Inc. in its filing.

Tagged under the XBRL concept upwk:IncreaseDecreaseOperatingLeaseLiability.

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 operating lease liability?
Upwork Inc. (UPWK) reported operating lease liability of -$25K in Q1 2026.
How has Upwork Inc.'s operating lease liability changed year-over-year?
Upwork Inc.'s operating lease liability decreased by 103.0% year-over-year, from $830K to -$25K.
What is the long-term trend for Upwork Inc.'s operating lease liability?
Over 3 years (2021 to 2024), Upwork Inc.'s operating lease liability has grown at a 55.2% compound annual growth rate (CAGR), from -$1.16M to -$4.35M.
What does operating lease liability mean?
This represents the net change in the company's obligations related to operating leases during the reporting period. It captures the cash impact of lease payments versus the recognition of lease expenses. Tracking this provides insight into the company's ongoing commitment to leased infrastructure and its impact on operating cash flow liquidity.