UPWORK INC
For the period ended May 5, 2025. Filed May 5, 2025.
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May 5, 2025 · Filed May 5, 2025
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UPWK$10.02-2.9%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (In thousands, except for per share data)
(In thousands, except for per share data)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenue | ||
| Marketplace | $166,293 | $164,330 |
| Enterprise | 26,413 | 26,607 |
| Total revenue | 192,706 | 190,937 |
| Cost of revenue | 41,806 | 44,193 |
| Gross profit | 150,900 | 146,744 |
| Operating expenses | ||
| Research and development | 46,152 | 52,916 |
| Sales and marketing | 35,751 | 47,851 |
| General and administrative | 28,048 | 32,001 |
| Provision for transaction losses | 2,259 | 927 |
| Total operating expenses | 112,210 | 133,695 |
| Income from operations | 38,690 | 13,049 |
| Other income, net | 6,317 | 6,722 |
| Income before income taxes | 45,007 | 19,771 |
| Income tax provision | (7,277) | (1,329) |
| Net income | $37,730 | $18,442 |
| Net income per share: | ||
| Basic | $0.28 | $0.14 |
| Diluted | $0.27 | $0.13 |
| Weighted-average shares used to compute net income per share: | ||
| Basic | 135,208 | 136,357 |
| Diluted | 142,777 | 143,657 |
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