UPWORK, INC
For the period ended Aug 6, 2025. Filed Aug 6, 2025.
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Aug 6, 2025 · Filed Aug 6, 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 EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | ||||
| Marketplace | $170,660 | $166,786 | $336,953 | $331,116 |
| Enterprise | 24,279 | 26,343 | 50,692 | 52,950 |
| Total revenue | 194,939 | 193,129 | 387,645 | 384,066 |
| Cost of revenue | 43,432 | 43,852 | 85,238 | 88,045 |
| Gross profit | 151,507 | 149,277 | 302,407 | 296,021 |
| Operating expenses | ||||
| Research and development | 44,843 | 52,465 | 90,995 | 105,381 |
| Sales and marketing | 36,671 | 47,333 | 72,422 | 95,184 |
| General and administrative | 35,659 | 29,924 | 63,707 | 61,925 |
| Provision for transaction losses | 1,769 | 1,774 | 4,028 | 2,701 |
| Total operating expenses | 118,942 | 131,496 | 231,152 | 265,191 |
| Income from operations | 32,565 | 17,781 | 71,255 | 30,830 |
| Other income, net | 5,878 | 5,620 | 12,195 | 12,342 |
| Income before income taxes | 38,443 | 23,401 | 83,450 | 43,172 |
| Income tax provision | (5,717) | (1,181) | (12,994) | (2,510) |
| Net income | $32,726 | $22,220 | $70,456 | $40,662 |
| Net income per share: | ||||
| Basic | $0.25 | $0.17 | $0.53 | $0.30 |
| Diluted | $0.24 | $0.17 | $0.50 | $0.30 |
| Weighted-average shares used to compute net income per share: | ||||
| Basic | 132,183 | 131,436 | 133,687 | 133,809 |
| Diluted | 140,198 | 138,266 | 141,866 | 140,798 |
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