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Upwork Inc. UPWK Business Segments — Income tax provision

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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$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

Reported directly by Upwork Inc. in its filing.

Tagged under the XBRL concept us-gaap:IncomeTaxExpenseBenefit.

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 business segments — income tax provision?
Upwork Inc. (UPWK) reported business segments — income tax provision of $6.25M in Q1 2026.
How has Upwork Inc.'s business segments — income tax provision changed year-over-year?
Upwork Inc.'s business segments — income tax provision decreased by 14.1% year-over-year, from $7.28M to $6.25M.
What is the long-term trend for Upwork Inc.'s business segments — income tax provision?
Over 3 years (2022 to 2025), Upwork Inc.'s business segments — income tax provision has grown at a 313.0% compound annual growth rate (CAGR), from $536K to $37.75M.
What does business segments — income tax provision mean?
This represents the total expense or benefit recognized by the business segment for income taxes during the reporting period. It reflects the tax impact of the segment's operational profitability and is essential for understanding the net contribution of the segment after accounting for jurisdictional tax obligations.