Upwork Inc

Upwork Inc

UPWK · NASDAQ · Communication Services / Internet Content & Information

9.93USD+0.07 (+0.66%)

Price History

Full chart

Market Stats

Previous Close9.86
Open10.01
Day Range9.87 – 10.12
52-Week Range7.44 – 22.84
Volume2.38M
Market Cap1.01B
P/E (TTM)10.35
Forward P/E5.49
EPS0.78
Dividend Yield0.00%
Beta1.01
50-Day Avg8.82
200-Day Avg12.04

About

Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally. The company offers Upwork Marketplace, a human and AI-powered work marketplace that connects businesses with on-demand access to independent talent across a range of categories, including AI-related projects, administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development. Its marketplace also streamlines workflows, such as talent sourcing, outreach, contracting, and engagement management, as well as provides infrastructure for remote collaboration, including communication and collaboration tools, consolidated invoicing, and payment protection; and Upwork Payroll services. It also offers enterprise solutions that provide access to platform capabilities that support contingent workforce solutions, including sourcing, onboarding, classification, compliance and contract management, payments, and reporting. In addition, the company offers managed services that provide a service-led program management and end-to-end project delivery solution that enables enterprise clients to outsource defined functions or projects; Uma, an AI assistant; and escrow services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was founded in 1998 and is headquartered in Palo Alto, California.

Company Details

  • SectorCommunication Services
  • IndustryInternet Content & Information
  • CEOMs. Hayden Brown
  • Employees630
  • Headquarters530 Lytton Avenue, Palo Alto, CA, United States, 94301, USA
  • Websitehttps://www.upwork.com

Leadership

  • Ms. Hayden BrownPresident, CEO, Interim Principal Financial Officer & Director · b. 1982
  • Ms. Erica GessertChief Financial Officer (Leave of Absence) · b. 1975
  • Mr. Anthony Ray KappusGM & COO · b. 1981
  • Ms. Sabrina MekhalfaChief Accounting Officer & Principal Accounting Officer · b. 1969

Financials

Income Statement

Currency: USD2016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue164.44M202.55M253.35M300.56M373.63M502.80M618.32M689.14M769.33M787.78M
Growth (%)-+23.17%+25.08%+18.63%+24.31%+34.57%+22.98%+11.45%+11.64%+2.40%
Cost of Revenue62.58M65.44M81.46M88.14M104.27M135.51M160.40M170.45M174.09M174.75M
Gross Profit101.87M137.11M171.90M212.42M269.36M367.29M457.92M518.69M595.23M613.03M
Gross Margin61.95%67.69%67.85%70.67%72.09%73.05%74.06%75.27%77.37%77.82%
Operating Expense116.33M140.23M183.61M231.15M291.77M421.51M550.54M529.95M530.02M483.73M
Operating Income-14.47M-3.12M-11.71M-18.73M-22.41M-54.22M-92.62M-11.26M65.21M129.31M
Operating Margin-8.80%-1.54%-4.62%-6.23%-6.00%-10.78%-14.98%-1.63%8.48%16.41%
EBITDA-6.91M1.00M-12.90M-5.88M-7.91M-40.13M-73.73M61.59M110.78M163.45M
EBITDA Margin-4.20%0.49%-5.09%-1.96%-2.12%-7.98%-11.92%8.94%14.40%20.75%
Net Income-16.23M-4.12M-19.91M-16.66M-22.87M-56.24M-89.89M46.89M215.59M115.42M
Net Income Margin-9.87%-2.04%-7.86%-5.54%-6.12%-11.19%-14.54%6.80%28.02%14.65%
R&D37.90M45.60M55.49M64.03M83.47M119.08M154.55M177.36M209.28M189.34M
R&D as % of Total Revenue23.05%22.51%21.90%21.30%22.34%23.68%25.00%25.74%27.20%24.04%
Interest Expense858.00K960.00K2.04M1.31M778.00K2.18M4.48M1.00M2.70M700.00K
Interest Expense % of Total Revenue0.52%0.47%0.80%0.43%0.21%0.43%0.73%0.15%0.35%0.09%

Balance Sheet

Currency: USD2016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets249.60M275.19M391.57M446.38M529.23M1.08B1.08B1.04B1.21B1.30B
Total Liabilities279.73M306.56M147.83M186.96M229.92M821.54M831.37M656.47M636.24M669.26M
Total Equity-30.13M-31.37M243.75M259.42M299.31M259.52M248.88M381.07M575.38M630.32M
Cash27.33M21.59M129.13M48.39M94.08M187.21M129.38M79.64M305.76M297.96M
Total Debt16.96M33.83M23.91M42.68M34.95M584.37M581.94M367.86M369.12M380.86M
Net Debt-10.36M12.24M-105.22M-5.71M-59.13M397.16M452.56M288.22M63.36M82.90M

Cash Flow

Currency: USD2016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow3.15M-4.00M13.74M1.06M22.36M10.84M11.50M52.71M153.56M248.26M
Investing Cash Flow-475.00K-2.11M-7.29M-100.92M-4.15M-428.98M-69.47M88.27M137.57M-136.94M
Financing Cash Flow5.23M381.00K101.07M29.40M54.64M537.74M1.14M-139.79M-81.96M-138.00M
Capital Expenditure846.00K2.32M6.84M16.64M14.37M6.14M8.73M16.35M14.44M5.79M
Free Cash Flow2.30M-6.32M6.90M-15.58M8.00M4.70M2.76M36.36M139.12M242.47M
FCF to OCF73.13%157.96%50.23%-1472.59%35.77%43.36%24.04%68.98%90.59%97.67%

Earnings

Report DateAug 29, 2018Nov 7, 2018Feb 28, 2019May 8, 2019Aug 7, 2019Nov 6, 2019Feb 26, 2020May 6, 2020Aug 4, 2020Nov 4, 2020Feb 23, 2021May 4, 2021Jul 29, 2021Oct 27, 2021Feb 10, 2022Apr 27, 2022Jul 27, 2022Oct 26, 2022Feb 15, 2023May 3, 2023Aug 2, 2023Nov 7, 2023Feb 14, 2024May 1, 2024Aug 7, 2024Nov 6, 2024Feb 12, 2025May 5, 2025Aug 6, 2025Nov 3, 2025Feb 9, 2026May 7, 2026Aug 10, 2026Nov 2, 2026
EPS Estimate0.00-0.03-0.04-0.03-0.01-0.04-0.01-0.06-0.06-0.03-0.05-0.01-0.090.02-0.05-0.14-0.08-0.08-0.03-0.07-0.010.100.170.190.230.250.250.270.280.290.310.270.340.32
EPS Actual-0.10-0.01-0.05-0.040.010.020.03-0.09-0.030.040.010.030.030.04-0.05-0.03-0.04-0.030.04-0.010.100.210.200.220.260.290.300.340.350.360.360.350.20-
Surprise-66.67%-25.00%-33.33%200.00%150.00%400.00%-50.00%50.00%233.33%120.00%400.00%133.33%100.00%0.00%78.57%50.00%62.50%233.33%85.71%814.29%110.00%17.65%15.79%13.04%16.00%20.00%25.93%25.00%24.14%16.13%29.63%-41.18%-
Timing-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap1.01B
Enterprise Value784.29M
Trailing P/E10.35
Forward P/E5.49
PEG Ratio0.98
Price / Sales1.28
Price / Book1.67
EPS0.78
Book Value4.52
Revenue (TTM)787.28M
Gross Profit (TTM)608.11M
EBITDA149.11M
Profit Margin12.94%
Operating Margin21.81%
Return on Equity16.70%
Return on Assets6.63%
Shares Outstanding124.90M
Shares Float111.12M
Beta1.01
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Buy
Based on 11 analystsTarget 9.88
  • Strong Buy
    2
  • Buy
    4
  • Hold
    5

Ownership Breakdown

Institutions
104.57%
Insiders
5.27%
Retail / Other
0.00%

Top Institutional Holders

  • BlackRock Inc
    18.86M15.10%
  • T. Rowe Price Associates, Inc.
    17.44M13.96%
  • Vanguard Portfolio Management, LLC
    7.77M6.22%
  • Ancient Art, L.P.
    7.23M5.79%
  • LSV Asset Management
    6.38M5.11%
  • Vanguard Capital Management, LLC
    5.61M4.49%
  • State Street Corp
    5.13M4.10%
  • Capital Research & Mgmt Co - Division 3
    4.86M3.89%
  • Dimensional Fund Advisors, Inc.
    4.74M3.80%
  • Geode Capital Management, LLC
    3.14M2.52%
  • FMR Inc
    3.07M2.46%
  • Rice Hall James & Associates, LLC
    2.78M2.22%
  • The Goldman Sachs Group Inc
    2.55M2.04%
  • Renaissance Technologies Corp
    2.04M1.63%
  • Invenomic Capital Management, LP
    1.91M1.53%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    7.52M6.02%
  • American Funds SMALLCAP World A
    4.72M3.78%
  • Vanguard MStar Total Stk Mkt Idx Invest
    3.69M2.95%
  • iShares Russell 2000 ETF
    3.11M2.49%
  • Vanguard Small Cap Index
    2.70M2.16%