UPWK - Upwork Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$14.75
DETAILS
HIGH:
$27.00
LOW:
$9.00
MEDIAN:
$10.00
CONSENSUS:
$14.75
UPSIDE:
67.61%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 787.8 | 769.3 | 689.1 | 618.3 | 502.8 | 373.6 | 300.6 | 253.4 | 202.6 | 164.4 |
| Cost of Revenue | 174.8 | 174.1 | 170.4 | 160.4 | 135.5 | 104.3 | 88.1 | 81.5 | 65.4 | 62.6 |
| Gross Profit | 613.0 | 595.2 | 518.7 | 457.9 | 367.3 | 269.4 | 212.4 | 171.9 | 137.1 | 101.9 |
| Operating Expenses | ||||||||||
| R&D Expenses | 189.3 | 209.3 | 177.4 | 154.6 | 119.1 | 83.5 | 64.0 | 55.5 | 45.6 | 37.9 |
| SG&A Expenses | 288.1 | 314.0 | 339.6 | 370.8 | 296.4 | 204.7 | 163.2 | 122.3 | 90.4 | 72.9 |
| Other Expenses | 6.2 | 6.7 | 13.0 | 25.2 | 6.0 | 3.6 | 3.9 | (6.1) | (0.1) | (0.9) |
| Operating Expenses | 483.7 | 530.0 | 529.9 | 550.5 | 421.5 | 291.8 | 231.2 | 183.6 | 140.2 | 116.3 |
| Operating Income | ||||||||||
| Operating Income | 129.3 | 65.2 | (11.3) | (92.6) | (54.2) | (22.4) | (18.7) | (11.7) | (3.1) | (14.5) |
| Interest Expense | 0.7 | 2.7 | 0 | 4.5 | 2.2 | 0.8 | 1.3 | 2.0 | 1.0 | 0.9 |
| Interest Income | 13.5 | 30.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||||||
| EBITDA | 163.5 | 82.9 | 1.5 | (81.5) | (40.1) | (7.9) | (5.9) | (12.9) | 1.0 | (6.9) |
| EBIT | 141.0 | 65.2 | (11.3) | (92.6) | (53.9) | (21.9) | (15.3) | (17.9) | (3.2) | (15.4) |
| Income Before Tax | 153.2 | 90.4 | 48.9 | (89.3) | (56.1) | (22.7) | (16.6) | (19.9) | (4.1) | (16.2) |
| Income Tax Expense | 37.8 | (125.2) | 2.0 | 0.5 | 0.1 | 0.1 | 0.0 | 0.0 | (0.0) | (0.0) |
| Net Income | 115.4 | 215.6 | 46.9 | (89.9) | (56.2) | (22.9) | (16.7) | (19.9) | (4.1) | (16.2) |
| Per Share Data | ||||||||||
| EPS (Basic) | 0.87 | 1.61 | 0.35 | -0.69 | -0.44 | -0.19 | -0.15 | -0.19 | -0.04 | -0.50 |
| EPS (Diluted) | 0.83 | 1.52 | 0.34 | -0.69 | -0.44 | -0.19 | -0.15 | -0.19 | -0.04 | -0.50 |
| Shares Outstanding | 130.6 | 133.6 | 134.8 | 130.5 | 127.2 | 118.7 | 109.8 | 103.7 | 95.9 | 32.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 298.0 | 305.8 | 79.6 | 129.4 | 187.2 | 94.1 | 48.4 | 129.1 | 21.6 | 27.3 |
| Short-Term Investments | 378.4 | 316.3 | 470.5 | 557.2 | 497.6 | 75.6 | 85.5 | 0 | 0 | 0 |
| Net Receivables | 76.2 | 75.5 | 103.1 | 64.9 | 66.8 | 47.0 | 30.2 | 22.3 | 30.8 | 25.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 201.8 | 213.5 | 230.2 | 161.5 | 160.8 | 135.0 | 108.7 | 98.2 | 89.0 | 61.5 |
| Total Current Assets | 950.8 | 911.1 | 883.4 | 930.9 | 929.7 | 360.8 | 280.6 | 255.9 | 144.1 | 116.6 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 49.4 | 35.8 | 31.5 | 29.7 | 32.0 | 47.9 | 43.4 | 10.8 | 3.5 | 2.6 |
| Goodwill | 149.2 | 121.1 | 118.2 | 118.2 | 118.2 | 118.2 | 118.2 | 118.2 | 118.2 | 118.2 |
| Intangible Assets | 37.2 | 13.0 | 3.0 | 0 | 0 | 0.7 | 3.3 | 6.0 | 8.7 | 11.4 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.5 | 0 | 0 |
| Other Non-Current Assets | 1.5 | 1.9 | 1.4 | 1.5 | 1.2 | 1.7 | 0.8 | 0.7 | 0.7 | 0.8 |
| Total Non-Current Assets | 348.7 | 300.6 | 154.2 | 149.3 | 151.4 | 168.4 | 165.7 | 135.7 | 131.1 | 133.0 |
| Total Assets | 1,299.6 | 1,211.6 | 1,037.5 | 1,080.2 | 1,081.1 | 529.2 | 446.4 | 391.6 | 275.2 | 249.6 |
| Current Liabilities | ||||||||||
| Account Payables | 188.6 | 6.1 | 5.1 | 7.5 | 5.0 | 6.5 | 0.7 | 2.1 | 0.5 | 0.4 |
| Short-Term Debt | 359.8 | 0 | 0 | 0 | 0 | 7.6 | 7.6 | 5.7 | 10.3 | 3.0 |
| Deferred Revenue | 7.8 | 7.3 | 17.4 | 25.1 | 22.1 | 16.8 | 13.8 | 0.7 | 0.6 | 0.6 |
| Other Current Liabilities | 94.0 | 31.5 | 27.0 | 19.4 | 24.1 | 14.2 | 5.8 | 108.2 | 94.8 | 77.8 |
| Total Current Liabilities | 650.2 | 268.4 | 293.0 | 247.7 | 233.6 | 198.7 | 149.1 | 127.6 | 114.6 | 85.4 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 9.7 | 357.9 | 356.1 | 564.3 | 561.3 | 3.1 | 10.7 | 18.2 | 23.5 | 14.0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | (0.3) | 0.3 | 1.3 | 8.2 | 9.9 | 7.5 | 6.0 | 2.0 | 168.4 | 180.3 |
| Total Non-Current Liabilities | 19.1 | 367.8 | 363.5 | 583.7 | 587.9 | 31.2 | 37.9 | 20.2 | 191.9 | 194.3 |
| Total Liabilities | 669.3 | 636.2 | 656.5 | 831.4 | 821.5 | 229.9 | 187.0 | 147.8 | 306.6 | 279.7 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 36.9 | (78.5) | (294.1) | (340.9) | (251.1) | (194.8) | (172.0) | (143.5) | (123.6) | (119.5) |
| Accumulated Other Comprehensive Income | 0.8 | 0.3 | 0.2 | (3.1) | (0.5) | 0 | (172.0) | (143.5) | (123.6) | (119.5) |
| Total Stockholders' Equity | 630.3 | 575.4 | 381.1 | 248.9 | 259.5 | 299.3 | 259.4 | 243.7 | (31.4) | (30.1) |
| Total Liabilities & Equity | 1,299.6 | 1,211.6 | 1,037.5 | 1,080.2 | 1,081.1 | 529.2 | 446.4 | 391.6 | 275.2 | 249.6 |
| Debt Metrics | ||||||||||
| Total Debt | 380.9 | 369.1 | 367.9 | 581.9 | 584.4 | 35.0 | 42.7 | 23.9 | 33.8 | 17.0 |
| Net Debt | 82.9 | 63.4 | 288.2 | 452.6 | 397.2 | (59.1) | (5.7) | (105.2) | 12.2 | (10.4) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 115.4 | 215.6 | 46.9 | (89.9) | (56.2) | (22.9) | (16.7) | (19.9) | (4.1) | (16.2) |
| Depreciation & Amortization | 26.5 | 17.6 | 12.7 | 11.1 | 13.8 | 14.0 | 10.6 | 4.9 | 4.2 | 8.5 |
| Stock-Based Compensation | 65.4 | 68.4 | 74.2 | 75.5 | 53.6 | 25.5 | 18.8 | 10.4 | 6.8 | 7.3 |
| Change in Working Capital | 21.4 | (15.0) | (39.2) | (10.8) | (16.5) | 2.2 | (14.4) | 6.8 | (15.4) | (2.0) |
| Other Non-Cash Items | 1.1 | (3.8) | (41.9) | 25.5 | 16.1 | 3.5 | 0.1 | 0.1 | 0.0 | 5.7 |
| Operating Cash Flow | 248.3 | 153.6 | 52.7 | 11.5 | 10.8 | 22.4 | 1.1 | 13.7 | (4.0) | 3.1 |
| Investing Activities | ||||||||||
| Capital Expenditure | (5.8) | (14.4) | (16.4) | (8.7) | (6.1) | (14.4) | (16.6) | (6.8) | (2.3) | (0.8) |
| Acquisitions | (58.4) | (14.3) | 0 | 0 | 0 | 0 | 5.9 | 0 | 0 | 0 |
| Purchases of Investments | (493.4) | (362.3) | (709.2) | (581.9) | (525.3) | (107.3) | (168.8) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 431.8 | 528.7 | 813.8 | 521.2 | 102.5 | 117.5 | 84.5 | 0 | 0.2 | 0.4 |
| Other Investing Activities | (11.2) | (10.9) | (15.7) | (7.5) | (5.1) | (8.0) | (5.9) | (0.4) | 0.2 | 0.4 |
| Investing Cash Flow | (136.9) | 137.6 | 88.3 | (69.5) | (429.0) | (4.1) | (100.9) | (7.3) | (2.1) | (0.5) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 0 | (171.3) | 0 | 564.2 | (7.6) | (5.7) | (10) | 16.8 | 5 |
| Stock Repurchased | (136.0) | (100) | 0 | 0 | 0 | 0 | 0 | 0 | (19.2) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (6.7) | 18.0 | 31.5 | 1.1 | (26.5) | 62.3 | 35.1 | 10.7 | 0 | 0.2 |
| Financing Cash Flow | (138.0) | (82.0) | (139.8) | 1.1 | 537.7 | 54.6 | 29.4 | 101.1 | 0.4 | 5.2 |
| Cash Position | ||||||||||
| Net Change in Cash | (26.7) | 209.2 | 1.2 | (56.8) | 119.6 | 72.9 | (70.5) | 107.5 | (5.7) | 7.9 |
| Cash at Beginning | 505.6 | 296.4 | 295.2 | 352.1 | 232.5 | 159.6 | 230.1 | 21.6 | 27.3 | 19.4 |
| Cash at End | 478.9 | 505.6 | 296.4 | 295.2 | 352.1 | 232.5 | 159.6 | 129.1 | 21.6 | 27.3 |
| Free Cash Flow | 242.5 | 139.1 | 36.4 | 2.8 | 4.7 | 8 | (15.6) | 6.9 | (6.3) | 2.3 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 787.8 | 769.3 | 689.1 | 618.3 | 502.8 | 373.6 | 300.6 | 253.4 | 202.6 | 164.4 |
| Gross Profit | 613.0 | 595.2 | 518.7 | 457.9 | 367.3 | 269.4 | 212.4 | 171.9 | 137.1 | 101.9 |
| Operating Income | 129.3 | 65.2 | (11.3) | (92.6) | (54.2) | (22.4) | (18.7) | (11.7) | (3.1) | (14.5) |
| Net Income | 115.4 | 215.6 | 46.9 | (89.9) | (56.2) | (22.9) | (16.7) | (19.9) | (4.1) | (16.2) |
| EPS (Diluted) | 0.83 | 1.52 | 0.34 | -0.69 | -0.44 | -0.19 | -0.15 | -0.19 | -0.04 | -0.50 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 298.0 | 305.8 | 79.6 | 129.4 | 187.2 | 94.1 | 48.4 | 129.1 | 21.6 | 27.3 |
| Total Assets | 1,299.6 | 1,211.6 | 1,037.5 | 1,080.2 | 1,081.1 | 529.2 | 446.4 | 391.6 | 275.2 | 249.6 |
| Total Debt | 380.9 | 369.1 | 367.9 | 581.9 | 584.4 | 35.0 | 42.7 | 23.9 | 33.8 | 17.0 |
| Stockholders' Equity | 630.3 | 575.4 | 381.1 | 248.9 | 259.5 | 299.3 | 259.4 | 243.7 | (31.4) | (30.1) |
| Cash Flow | ||||||||||
| Operating Cash Flow | 248.3 | 153.6 | 52.7 | 11.5 | 10.8 | 22.4 | 1.1 | 13.7 | (4.0) | 3.1 |
| Capital Expenditure | (5.8) | (14.4) | (16.4) | (8.7) | (6.1) | (14.4) | (16.6) | (6.8) | (2.3) | (0.8) |
| Free Cash Flow | 242.5 | 139.1 | 36.4 | 2.8 | 4.7 | 8 | (15.6) | 6.9 | (6.3) | 2.3 |