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Upwork Inc. UPWK Shares (Diluted)

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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:WeightedAverageNumberOfDilutedSharesOutstanding.

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 shares (diluted)?
Upwork Inc. (UPWK) reported shares (diluted) of 135.7M in Q1 2026.
How has Upwork Inc.'s shares (diluted) changed year-over-year?
Upwork Inc.'s shares (diluted) decreased by 5.0% year-over-year, from 142.8M to 135.7M.
What is the long-term trend for Upwork Inc.'s shares (diluted)?
Over 4 years (2021 to 2025), Upwork Inc.'s shares (diluted) has grown at a 2.7% compound annual growth rate (CAGR), from 507.1M to 563.3M.
What does shares (diluted) mean?
The weighted-average shares outstanding plus all potentially dilutive shares from stock options, RSUs, convertible securities, and warrants, using the treasury stock method.