UPWK
Income statement / Annual
Last year (2023), Upwork Inc.'s total revenue was $689.14 M,
an increase of 11.45% from the previous year.
In 2023, Upwork Inc.'s net income was $46.89 M.
See Upwork Inc.’s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
| Period Ended |
12/31/2023 |
12/31/2022 |
12/31/2021 |
12/31/2020 |
12/31/2019 |
12/31/2018 |
12/31/2017 |
12/31/2016 |
| Operating Revenue |
$689.14 M
|
$618.32 M
|
$502.80 M
|
$373.63 M
|
$300.56 M
|
$253.35 M
|
$202.55 M
|
$164.45 M
|
| Cost of Revenue |
$170.45 M |
$160.40 M |
$135.51 M |
$104.27 M |
$88.14 M |
$81.46 M |
$65.44 M |
$62.58 M |
| Gross Profit |
$518.69 M |
$457.92 M |
$367.29 M |
$269.36 M |
$212.42 M |
$171.90 M |
$137.11 M |
$101.87 M |
| Gross Profit Ratio |
0.75 |
0.74 |
0.73 |
0.72 |
0.71 |
0.68 |
0.68 |
0.62 |
| Research and Development
Expenses |
$177.36 M
|
$154.55 M
|
$119.08 M
|
$83.47 M
|
$64.03 M
|
$55.49 M
|
$45.60 M
|
$37.90 M
|
| General & Administrative
Expenses |
$118.93 M
|
$123.95 M
|
$113.08 M
|
$71.52 M
|
$67.33 M
|
$49.34 M
|
$37.33 M
|
$35.45 M
|
| Selling & Marketing
Expenses |
$220.68 M
|
$246.88 M
|
$183.29 M
|
$133.23 M
|
$95.89 M
|
$72.96 M
|
$53.04 M
|
$37.44 M
|
| Selling, General &
Administrative Expenses |
$339.61 M
|
$370.83 M
|
$296.38 M
|
$204.74 M
|
$163.22 M
|
$122.30 M
|
$90.38 M
|
$72.88 M
|
| Other Expenses |
$12.98 M |
$25.15 M |
$6.05 M |
$3.56 M |
$3.91 M |
-$6.14 M |
-$62,000.00 |
-$908,000.00 |
| Operating Expenses |
$529.95 M |
$550.54 M |
$421.51 M |
$291.77 M |
$231.15 M |
$183.61 M |
$140.23 M |
$116.34 M |
| Cost And Expenses |
$700.40 M |
$710.94 M |
$557.01 M |
$396.04 M |
$319.29 M |
$265.07 M |
$205.68 M |
$178.91 M |
| Interest Income |
$0.00 |
$3.48 M |
$1.40 M |
$291,000.00 |
$1.20 M |
$0.00 |
$0.00 |
$0.00 |
| Interest Expense |
$1.00 M |
$4.48 M |
$2.18 M |
$778,000.00 |
$1.31 M |
$2.04 M |
$960,000.00 |
$858,000.00 |
| Depreciation &
Amortization |
$12.72 M
|
$11.14 M
|
$13.81 M
|
$14.03 M
|
$9.45 M
|
$4.95 M
|
$4.19 M
|
$8.46 M
|
| EBITDA |
$1.46 M
|
-$81.49 M
|
-$40.13 M
|
-$7.91 M
|
-$5.88 M
|
-$12.91 M
|
$1.00 M
|
-$6.91 M
|
| EBITDA Ratio |
0 |
-0.12 |
-0.08 |
-0.02 |
-0.02 |
-0.05 |
0 |
-0.04 |
| Operating Income Ratio
|
-0.02
|
-0.15
|
-0.11
|
-0.06
|
-0.06
|
-0.05
|
-0.02
|
-0.09
|
| Total Other
Income/Expenses Net |
$60.14 M
|
$3.28 M
|
-$1.90 M
|
-$309,000.00
|
$2.10 M
|
-$8.18 M
|
-$1.02 M
|
-$1.77 M
|
| Income Before Tax |
$48.88 M |
-$89.35 M |
-$56.12 M |
-$22.72 M |
-$16.63 M |
-$19.89 M |
-$4.15 M |
-$16.23 M |
| Income Before Tax Ratio
|
0.07
|
-0.14
|
-0.11
|
-0.06
|
-0.06
|
-0.08
|
-0.02
|
-0.1
|
| Income Tax Expense |
$1.99 M |
$536,000.00 |
$122,000.00 |
$150,000.00 |
$28,000.00 |
$15,000.00 |
-$22,000.00 |
-$1,000.00 |
| Net Income |
$46.89 M |
-$89.89 M |
-$56.24 M |
-$22.87 M |
-$16.66 M |
-$19.91 M |
-$4.12 M |
-$16.23 M |
| Net Income Ratio |
0.07 |
-0.15 |
-0.11 |
-0.06 |
-0.06 |
-0.08 |
-0.02 |
-0.1 |
| EPS |
0.35 |
-0.69 |
-0.44 |
-0.19 |
-0.15 |
-0.38 |
-0.043 |
-0.17 |
| EPS Diluted |
0.34 |
-0.69 |
-0.44 |
-0.19 |
-0.15 |
-0.38 |
-0.043 |
-0.17 |
| Weighted Average Shares
Out |
$134.77 M
|
$130.52 M
|
$127.16 M
|
$118.70 M
|
$109.81 M
|
$52.33 M
|
$95.93 M
|
$95.93 M
|
| Weighted Average Shares
Out Diluted |
$137.26 M
|
$130.52 M
|
$127.16 M
|
$118.70 M
|
$109.81 M
|
$52.33 M
|
$95.93 M
|
$95.93 M
|
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