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Upwork Inc. UPWK Internal-use software and platform development costs incurred but not yet paid

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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:InternalUseSoftwareAndPlatformDevelopmentCostsIncurredButNotPaid.

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 internal-use software and platform development costs incurred but not yet paid?
Upwork Inc. (UPWK) reported internal-use software and platform development costs incurred but not yet paid of $345K in Q1 2026.
How has Upwork Inc.'s internal-use software and platform development costs incurred but not yet paid changed year-over-year?
Upwork Inc.'s internal-use software and platform development costs incurred but not yet paid increased by 52.0% year-over-year, from $227K to $345K.
What is the long-term trend for Upwork Inc.'s internal-use software and platform development costs incurred but not yet paid?
Over 3 years (2021 to 2025), Upwork Inc.'s internal-use software and platform development costs incurred but not yet paid has grown at a 118.3% compound annual growth rate (CAGR), from $106K to $1.1M.
What does internal-use software and platform development costs incurred but not yet paid mean?
This represents the value of software and platform development costs that have been incurred but remain unpaid at the end of the reporting period. It acts as a bridge between accrual-based accounting and cash-based investing activities. Monitoring this helps identify timing gaps between development work performed and the actual cash settlement of those development obligations.