UPWK Stock - Upwork Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $769.33M | $689.14M | $618.32M | $502.80M | $373.63M |
| Gross Profit | $595.23M | $518.69M | $457.92M | $367.29M | $269.36M |
| Gross Margin | 77.4% | 75.3% | 74.1% | 73.0% | 72.1% |
| Operating Income | $65.21M | $-11,260,000 | $-92,624,000 | $-54,217,000 | $-22,408,000 |
| Net Income | $215.59M | $46.89M | $-89,885,000 | $-56,240,000 | $-22,867,000 |
| Net Margin | 28.0% | 6.8% | -14.5% | -11.2% | -6.1% |
| EPS | $1.61 | $0.35 | $-0.69 | $-0.44 | $-0.19 |
Upwork Inc., together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's work marketplace provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development. Its work marketplace also enables clients to streamline workflows, such as talent sourcing, outreach, and contracting. The company's work marketplace offers access to various functionalities for remote engagements with talent, including communication and collaboration, ability to receive talent invoices through their work marketplace, and payment protection. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Enterprise, and Upwork Payroll, as well as managed and internet escrow agency services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was incorporated in 2013 and is headquartered in San Francisco, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| October 28th 2025 | UBS | Upgrade | Buy | $21 |
| April 4th 2025 | BTIG Research | Downgrade | Neutral | - |
| March 12th 2025 | Scotiabank | Initiation | Sector Perform | $15 |
| July 2nd 2024 | UBS | Resumed | Neutral | $12← $18 |
| May 2nd 2024 | BTIG Research | Upgrade | Buy | $16 |
| January 8th 2024 | Jefferies | Upgrade | Buy | $20← $13 |
| October 4th 2023 | UBS | Initiation | Neutral | $13 |
| August 28th 2023 | BTIG Research | Downgrade | Neutral | - |
| June 30th 2023 | BTIG Research | Reiterated | Buy | $13← $15 |
| May 4th 2023 | BofA Securities | Downgrade | Neutral | $9 |
| May 23rd 2022 | RBC Capital Mkts | Initiation | Sector Perform | $21 |
| May 17th 2022 | Stifel | Downgrade | Hold | $20← $30 |
Earnings History & Surprises
UPWKEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 4, 2026 | — | — | — | — |
Q1 2026 | Feb 11, 2026 | $0.23 | — | — | — |
Q4 2025 | Nov 3, 2025 | $0.25 | $0.21 | -16.0% | ✗ MISS |
Q3 2025 | Aug 6, 2025 | $0.26 | $0.35 | +34.6% | ✓ BEAT |
Q2 2025 | May 5, 2025 | $0.25 | $0.34 | +36.0% | ✓ BEAT |
Q1 2025 | Feb 12, 2025 | $0.24 | $0.30 | +25.0% | ✓ BEAT |
Q4 2024 | Nov 6, 2024 | $0.23 | $0.29 | +26.1% | ✓ BEAT |
Q3 2024 | Aug 7, 2024 | $0.23 | $0.26 | +13.0% | ✓ BEAT |
Q2 2024 | May 1, 2024 | $0.19 | $0.22 | +15.8% | ✓ BEAT |
Q1 2024 | Feb 14, 2024 | $0.17 | $0.20 | +17.6% | ✓ BEAT |
Q4 2023 | Nov 7, 2023 | $0.11 | $0.21 | +90.9% | ✓ BEAT |
Q3 2023 | Aug 2, 2023 | $0.00 | $0.10 | +2231.0% | ✓ BEAT |
Q2 2023 | May 3, 2023 | $-0.06 | $-0.01 | +83.3% | ✓ BEAT |
Q1 2023 | Feb 15, 2023 | $0.01 | $0.04 | +249.7% | ✓ BEAT |
Q4 2022 | Oct 26, 2022 | $-0.08 | $-0.03 | +62.5% | ✓ BEAT |
Q3 2022 | Jul 27, 2022 | $-0.10 | $-0.04 | +60.0% | ✓ BEAT |
Q2 2022 | Apr 27, 2022 | $-0.13 | $-0.03 | +76.9% | ✓ BEAT |
Q1 2022 | Feb 10, 2022 | $-0.05 | $-0.05 | 0.0% | = MET |
Q4 2021 | Oct 27, 2021 | $0.01 | $0.04 | +166.7% | ✓ BEAT |
Q3 2021 | Jul 29, 2021 | $-0.11 | $-0.13 | -18.2% | ✗ MISS |
Latest News
Upwork Inc. Will Replace Premier Inc. In The S&P SmallCap 600 Effective Prior To The Open Of Trading On Friday, November 28
📈 PositiveUpwork shares are trading higher after multiple analysts raised their price targets on the stock.
📈 PositiveUBS Maintains Buy on Upwork, Raises Price Target to $24
📈 PositiveCitizens Reiterates Market Outperform on Upwork, Maintains $27 Price Target
📈 PositiveCanaccord Genuity Maintains Buy on Upwork, Raises Price Target to $24
📈 PositiveGoldman Sachs Maintains Buy on Upwork, Raises Price Target to $28
📈 PositiveNeedham Reiterates Buy on Upwork, Maintains $25 Price Target
📈 PositiveUpwork Announces 2026 Financial Outlook, Sees GSV Growth Rate: 4%-6%; Revenue Growth Rate: 6%-8%; Adjusted EBITDA Margin: ~29%; 2028 Financial Outlook, Sees GSV: 7%-9% CAGR; Revenue: 13%-15% CAGR; Adjusted EBITDA: ~20% CAGR; Growth Strategy Doubles Down On Strong AI Tailwind, Accelerating Traction With SMBs, And Unlocking Enterprise Expansion
📈 PositiveUpwork Expands Globally With First International Hub In Lisbon To Drive Product Development And AI-Fueled Growth
📈 PositiveRoth Capital Reiterates Buy on Upwork, Raises Price Target to $22
📈 PositiveCitigroup Maintains Neutral on Upwork, Raises Price Target to $19
➖ NeutralGoldman Sachs Maintains Buy on Upwork, Raises Price Target to $25
📈 PositiveRBC Capital Maintains Sector Perform on Upwork, Raises Price Target to $21
➖ NeutralScotiabank Maintains Sector Perform on Upwork, Raises Price Target to $17
📈 PositiveUBS Maintains Buy on Upwork, Raises Price Target to $23
📈 PositiveUpwork shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance above estimates. Also, the company raised its FY25 guidance above estimates.
📈 PositiveNeedham Maintains Buy on Upwork, Raises Price Target to $25
📈 PositiveUpwork shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance above estimates. Also, the company raised its FY25 guidance above estimates.
📈 PositiveUpwork Raises FY2025 Adj EPS Guidance from $1.14-$1.18 to $1.35-$1.37 vs $1.25 Est; Raises FY2025 Sales Guidance from $765.000M-$775.000M to $782.000M-$787.000M vs $773.242M Est
📈 PositiveUpwork Non-GAAP EPS of $0.36 beats by $0.07, revenue of $201.73M beats by $8.41M
📈 PositiveFrequently Asked Questions about UPWK
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