To the full analysis
Upwork stock: growth
UPWKUpwork reported $787.78M in revenue for fiscal 2025, up 2.4% on the prior year, up 16.1% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
19%
per year from 2016 to 2025, per share 2%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
67.8%
per year from 2016 to 2025, per share 43.7%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2016 | |
|---|---|---|
| Revenue | 16.1% | 19.0% |
| Revenue per share | 13.9% | 2.0% |
| Earnings | no data | no data |
| Earnings per share | no data | no data |
| Free cash flow | 97.8% | 67.8% |
| Free cash flow per share | 94.1% | 43.7% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2016 | $164.45M | −$16.23M | $2.3M |
| 2017 | $202.55M | −$4.12M | −$6.32M |
| 2018 | $253.35M | −$19.91M | $6.9M |
| 2019 | $300.56M | −$16.66M | −$15.58M |
| 2020 | $373.63M | −$22.87M | $8M |
| 2021 | $502.8M | −$56.24M | $4.7M |
| 2022 | $618.32M | −$89.89M | $2.76M |
| 2023 | $689.14M | $46.89M | $36.36M |
| 2024 | $769.33M | $215.59M | $139.12M |
| 2025 | $787.78M | $115.43M | $242.47M |
Revenue by segment
How Upwork Inc. makes its money and how that has shifted. Names are as the company reports them.
- Enterprise87%
- Marketplace13%
Figures as a table
| 2024 | 2025 | Share 2025 | |
|---|---|---|---|
| Enterprise | $662.11M | $682.88M | 86.7% |
| Marketplace | $107.22M | $104.9M | 13.3% |
| Total revenue | $769.33M | $787.78M | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong since 7 Nov 2026, previously Neutral
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.