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Upwork Inc. UPWK Operating Lease Liabilities (Total)

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Segments

By geography

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Palo Alto, California$3.7M
Lisbon, Portugal$3.5M

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%
CapEx$1.6M-32.0%
Free cash flow$45.3M-35.5%

Valuation

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Market cap$1.19B-32.8%
Enterprise value$1.26B-23.2%
P/E11.7×+4.5×
P/S1.5×-0.8×

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:OperatingLeaseLiability.

The source filing: Upwork Inc.’s 10-K, filed February 13, 2026.

Filed
Feb 12, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0001627475-26-000012
(In thousands) / Balance Sheet and Cash Flow Classification20252024
Assets
Operating—noncurrent$5,011$5,752
Liabilities
Operating—current1,6721,624
Operating—noncurrent9,7079,567
Total lease liabilities$11,379$11,191

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Upwork Inc.'s operating lease liabilities (total)?
Upwork Inc. (UPWK) reported operating lease liabilities (total) of $11.38M in Q4 2025.
How has Upwork Inc.'s operating lease liabilities (total) changed year-over-year?
Upwork Inc.'s operating lease liabilities (total) increased by 1.7% year-over-year, from $11.19M to $11.38M.
What is the long-term trend for Upwork Inc.'s operating lease liabilities (total)?
Over 5 years (2020 to 2025), Upwork Inc.'s operating lease liabilities (total) has grown at a -14.0% compound annual growth rate (CAGR), from $24.23M to $11.38M.
What does operating lease liabilities (total) mean?
This represents the total present value of future lease payments for operating leases, recognized as a liability on the balance sheet. It reflects the company's long-term commitment to leased assets such as office space, warehouses, and equipment. Tracking this helps investors evaluate the company's off-balance-sheet financing obligations and overall debt-like commitments.

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