The latest financial statement is for the quarter ending 2026-03-31.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenue | 195,483 | 198,409 | 201,730 | - |
| Cost of revenue | 39,128 | 39,865 | 42,068 | - |
| Research and development | 35,126 | 38,534 | 37,804 | - |
| Sales and marketing | 36,017 | 34,448 | 32,967 | - |
| General and administrative | 25,564 | 30,986 | 26,871 | - |
| Provision for transaction losses | 2,222 | 1,719 | 2,393 | - |
| Stock-based compensation expense | 15,421 | 17,352 | 19,789 | - |
| Depreciation and amortization | 9,099 | 7,024 | 7,946 | - |
| Interest income | 5,850 | 6,815 | 34,442 | - |
| Interest expense | 704 | 1,086 | 694 | - |
| Gain on early extinguishment of convertible senior notes | - | 0 | - | - |
| Restructuring charges | - | 0 | - | - |
| Income tax provision | 6,249 | 18,417 | 6,340 | - |
| Other segment items | 342 | 159 | 2,325 | - |
| Net income | 31,461 | 15,634 | 29,335 | 70,456 |
| Provision for transaction losses | 1,946 | 999 | 2,113 | 3,594 |
| Depreciation and amortization | 9,099 | 7,024 | 7,946 | 10,740 |
| Amortization of debt issuance costs | 460 | 461 | 460 | 921 |
| Accretion of discount on purchases of marketable securities, net | 1,850 | 2,499 | 2,195 | 3,504 |
| Amortization of operating lease asset | 397 | 177 | 179 | 385 |
| Tides foundation common stock warrant expense | 188 | 187 | 188 | 375 |
| Stock-based compensation expense | 15,421 | 17,352 | 19,789 | 28,249 |
| Deferred taxes | 93 | 18,892 | -2,463 | 2,064 |
| Gain on early extinguishment of convertible senior notes | - | 0 | - | - |
| Trade and client receivables | 784 | 1,630 | 2,014 | -360 |
| Prepaid expenses and other assets | 3,480 | 2,610 | -3,378 | 3,338 |
| Operating lease liability | -25 | -412 | -208 | 808 |
| Accounts payable | 3,124 | -656 | 4,571 | -5,075 |
| Accrued expenses and other liabilities | -33,466 | 10,960 | 13,866 | 2,911 |
| Purchase of an intangible asset | - | 0 | - | - |
| Deferred revenue | 435 | -178 | 134 | 533 |
| Acquisition of business, net of cash acquired | - | -1,440 | 39,436 | 20,410 |
| Net cash provided by operating activities | 23,019 | 63,701 | 75,079 | 109,479 |
| Purchases of marketable securities | 0 | 119,239 | 106,791 | 259,148 |
| Proceeds from maturities of marketable securities | 128,326 | 117,711 | 70,314 | 232,411 |
| Proceeds from sale of marketable securities | 0 | 7,747 | 64 | 3,537 |
| Purchases of property and equipment | 1,723 | 455 | 482 | 4,853 |
| Internal-use software and platform development costs | 8,391 | 5,973 | 5,166 | 8,210 |
| Net cash provided by (used in) investing activities | 118,212 | 1,231 | -81,497 | -56,673 |
| Change in escrow funds payable, net | 23,554 | -29,756 | 6,451 | 16,574 |
| Proceeds from exercises of stock options and common stock warrants | 83 | 21 | 76 | 653 |
| Proceeds from employee stock purchase plan | - | 1,736 | 0 | 2,199 |
| Net cash paid for early extinguishment of convertible senior notes | - | 0 | - | - |
| Repurchase of common stock | 107,891 | 34,036 | 31,001 | 70,922 |
| Net cash used in financing activities | -84,254 | -62,035 | -24,474 | -51,496 |
| Net change in cash, cash equivalents, and restricted cash | 56,977 | 2,897 | -30,892 | 1,310 |
| Cash, cash equivalents, and restricted cashbeginning of period | 478,908 | 29,582 | 505,593 | - |
| Cash, cash equivalents, and restricted cashend of period | 535,885 | 2,897 | 476,011 | - |
UPWORK, INC (UPWK)
UPWORK, INC (UPWK)