Upwork Inc.
UPWK
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- Upwork operates in a growing freelance economy, which is projected to expand as more companies embrace remote work and flexible staffing solutions.
- The company has a market cap of approximately $1.04 billion and a forward P/E ratio of 6.13, indicating potential undervaluation.
- In Q2 2026, Upwork reported a gross margin of 76.37%, demonstrating strong profitability despite revenue fluctuations.
- Upwork faces significant competition from other freelance platforms, which may impact its market share and pricing power.
- Revenue decreased by 2% compared to the prior quarter, falling from $195 million to $192 million.
- The company's net income for 2023 was only $46.89 million, down from $215.59 million in 2024, indicating a concerning trend in profitability.
Fundamentals
| Market cap | $1.07B | Enterprise value | $834.68M | Trailing P/E | 11.13 | Forward P/E | 6.28 |
| PEG | 0.85 | Price / book | 1.90 | Beta | 1.05 | Dividend yield | 0.00% |
| Revenue growth | -1.7% | Earnings growth | -15.9% | Gross margin | 77.2% | Operating margin | 21.8% |
| Profit margin | 12.9% | ROE | 16.7% | ROA | 6.6% | Debt / equity | 0.62 |
| Current ratio | 1.42 | Free cash flow | $156.38M | Analyst recommendation | none | Mean target | $9.88 |
| 52w high | $22.84 | 52w low | $7.44 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $192M | $195M | $198M | $202M | $195M |
| Op margin | 14.7% | 16.7% | 14.3% | 14.8% | 16.7% |
| Net income | $25.4M | $31.5M | $15.6M | $29.3M | $32.7M |
| Gross margin | 76.4% | 77.2% | 78.0% | 77.3% | 77.7% |
| Gross profit | $146M | $151M | $155M | $156M | $152M |
| Operating income | $28.1M | $32.7M | $28.3M | $29.8M | $32.6M |
- Revenue -2% vs prior quarter ($192M vs $195M).
- Gross margin 76.4% (was 77.2% prior quarter).
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $788M | $769M | $689M | $618M | — |
| Op margin | 16.4% | 8.5% | -1.6% | -15.0% | — |
| Net income | $115M | $216M | $46.9M | -$89.9M | — |
| Gross margin | 77.8% | 77.4% | 75.3% | 74.1% | — |
| Gross profit | $613M | $595M | $519M | $458M | — |
| Operating income | $129M | $65.2M | -$11.3M | -$92.6M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-10-08 · 1 Profitable Stock on Our Watchlist and 2 We Ignore
2026-10-08 · Self-Employed? Why Your Tax Deductions Could Sink Your Mortgage Application (And How to Avoid That)
2026-10-07 · 1 Cash-Producing Stock with Solid Fundamentals and 2 We Question
2026-10-05 · Winners And Losers Of Q2: Upwork (NASDAQ:UPWK) Vs The Rest Of The Gig Economy Stocks
2026-09-18 · Upwork (UPWK), Why Is The Market Taking A Closer Look?
2026-09-17 · Fortune Unveils Speakers and Program Themes for 2026 Most Powerful Women Summit, Oct.12-14 in Santa Barbara
2026-09-15 · 2 Internet Stocks for Long-Term Investors and 1 We Question
2026-09-08 · 3 Unpopular Stocks We Find Risky
2026-09-03 · Upwork (UPWK): Buy, Sell, or Hold Post Q2 Earnings?
2026-09-02 · 1 Small-Cap Stock on Our Buy List and 2 We Brush Off
2026-08-26 · Upwork to Present at Goldman Sachs Communacopia + Technology Conference
2026-08-20 · Upwork (UPWK) Posts A Profit Beat, But Cuts Its Growth Outlook
Price (daily)
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