Upwork Inc. (UPWK) Revenue History
Annual and quarterly revenue from 2016 to present
UPWK Revenue Over Time (2016–2025)
UPWK Revenue Growth History
9 of 9 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +23.2%
- FY2018 revenue growth
- +25.1%
- FY2019 revenue growth
- +18.6%
- FY2020 revenue growth
- +24.3%
- FY2021 revenue growth
- +34.6%
- FY2022 revenue growth
- +23.0%
- FY2023 revenue growth
- +11.5%
- FY2024 revenue growth
- +11.6%
- FY2025 revenue growth
- +2.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $191.7M | -1.7% |
| Q1 2026 | $195.5M | +1.4% |
| Q4 2025 | $198.4M | +3.6% |
| Q3 2025 | $201.7M | +4.1% |
| Q2 2025 | $194.9M | +0.9% |
| Q1 2025 | $192.7M | +0.9% |
| Q4 2024 | $191.5M | +4.1% |
| Q3 2024 | $193.8M | +10.3% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
UPWK's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
UPWK Revenue Analysis (2016–2025)
Current Revenue & Growth
As of October 3, 2026, Upwork Inc. (UPWK) generated trailing twelve-month (TTM) revenue of $787.3 million, reflecting slight decline in growth of -1.7% year-over-year. The most recent quarter (Q2 2026) recorded $191.7 million in revenue, down 2.0% sequentially.
Historical Growth Trajectory
UPWK's 5-year compound annual growth rate (CAGR) stands at +16.1%, indicating consistent double-digit revenue growth. The 3-year CAGR of +8.4% is below the 5-year average, signalling a growth deceleration in recent years. Upwork Inc.'s highest annual revenue of $787.8 million was recorded in 2025, an all-time high.
Revenue by Segment
UPWK's revenue is primarily driven by Enterprise (87%), and Marketplace (13%). With over half of revenue concentrated in Enterprise, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including FVRR (-0.2% YoY), TASK (+11.4% YoY), and FLNT (-12.0% YoY) — UPWK has underperformed the peer group in revenue growth. Compare UPWK vs FVRR →
UPWK Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| UPWKCurrent | $787M | -1.7% | +16.1% | 16.4% | |
 FVRR | $431M | -0.2% | +17.9% | -0.3% | |
 TASK | $1.2B | +11.4% | +19.9% | 11.9% | |
 FLNT | $209M | -12.0% | -7.6% | -9.4% | |
 RELY | $1.6B | +23.8% | +44.8% | 5.0% | |
 HIMS | $2.3B | +28.0% | +73.6% | 4.5% |
UPWK Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $787.8M | +2.4% | $613.0M | 77.8% | $129.3M | 16.4% |
| 2024 | $769.3M | +11.6% | $595.2M | 77.4% | $65.2M | 8.5% |
| 2023 | $689.1M | +11.5% | $518.7M | 75.3% | $-11,260,000 | -1.6% |
| 2022 | $618.3M | +23.0% | $457.9M | 74.1% | $-92,624,000 | -15.0% |
| 2021 | $502.8M | +34.6% | $367.3M | 73.0% | $-54,217,000 | -10.8% |
| 2020 | $373.6M | +24.3% | $269.4M | 72.1% | $-22,408,000 | -6.0% |
| 2019 | $300.6M | +18.6% | $212.4M | 70.7% | $-18,732,000 | -6.2% |
| 2018 | $253.4M | +25.1% | $171.9M | 67.8% | $-11,712,000 | -4.6% |
| 2017 | $202.6M | +23.2% | $137.1M | 67.7% | $-3,123,000 | -1.5% |
| 2016 | $164.4M | - | $101.9M | 61.9% | $-14,468,000 | -8.8% |
UPWK Chart Terminal
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
Live Breakouts Feed
High-probability breakout stocks crossing their pivot across 5 pattern engines.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
UPWK — Frequently Asked Questions
Quick answers to the most common questions about buying UPWK stock.
Is UPWK's revenue growth accelerating or slowing?
UPWK revenue growth is slowing. TTM revenue is $787M, up -1.7% year-over-year — below the 5-year CAGR of +16.1%. The deceleration suggests maturing end-markets or increased competition.
What is UPWK's revenue history from 2016 to 2026?
Upwork Inc. (UPWK) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $787M, growing at -1.7% YoY. The 5-year CAGR is +16.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is UPWK's long-term revenue growth rate (CAGR)?
Upwork Inc.'s 5-year revenue CAGR of +16.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -1.7% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for UPWK.
Why does UPWK's quarterly revenue fluctuate?
UPWK quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Upwork Inc.'s revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is UPWK's revenue distributed by segment?
UPWK reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does UPWK's revenue compare to industry peers?
Upwork Inc. (UPWK) with TTM revenue of $787M and -1.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.