What is Upwork Inc.'s R&D?

Upwork Inc. (UPWK) reported R&D of $43.31M in Q1 2026.

How has Upwork Inc.'s R&D changed year-over-year?

Upwork Inc.'s R&D decreased by 6.2% year-over-year, from $46.15M to $43.31M.

What is the long-term trend for Upwork Inc.'s R&D?

Over 4 years (2021 to 2025), Upwork Inc.'s R&D has grown at a 11.7% compound annual growth rate (CAGR), from $119.08M to $185.54M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Upwork Inc. UPWK R&D

R&D at other companies

MicrosoftMSFT

$8.92B+8.7%

Xometry, Inc.XMTR

$11.43M+2.3%

CarGurus, Inc.CARG

$37.67M+7.5%

eBayEBAY

$450M+14.5%

EtsyETSY

$99.05M-1.7%

DoorDashDASH

$398M+30.1%

Segments

By segment

See full

Reportable Segment$35.13M-8.9%

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$23.0M-37.7%

CapEx$1.7M-30.3%

Free cash flow$21.3M-38.3%

Valuation

See full

Market cap$1.02B-43.9%

Enterprise value$1.22B-25.4%

P/E9.3×+1.6×

P/S1.3×-1.1×

Profitability

See full

Gross margin77.5%-0.2pp

Operating margin15.6%+3.8pp

Net margin13.8%-16.7pp

FCF margin29%+7.0pp

Returns & leverage

See full

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 us-gaap:ResearchAndDevelopmentExpense.

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

Ask your AI about Upwork Inc.'s r&d.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Upwork Inc.'s R&D?: Upwork Inc. (UPWK) reported R&D of $43.31M in Q1 2026.
How has Upwork Inc.'s R&D changed year-over-year?: Upwork Inc.'s R&D decreased by 6.2% year-over-year, from $46.15M to $43.31M.
What is the long-term trend for Upwork Inc.'s R&D?: Over 4 years (2021 to 2025), Upwork Inc.'s R&D has grown at a 11.7% compound annual growth rate (CAGR), from $119.08M to $185.54M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.