UPWORK, INC
For the period ended Nov 3, 2025. Filed Nov 3, 2025.
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Nov 3, 2025 · Filed Nov 3, 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 EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | ||||
| Marketplace | $174,572 | $167,337 | $511,525 | $498,453 |
| Enterprise | 27,158 | 26,439 | 77,850 | 79,389 |
| Total revenue | 201,730 | 193,776 | 589,375 | 577,842 |
| Cost of revenue | 45,843 | 43,408 | 131,081 | 131,453 |
| Gross profit | 155,887 | 150,368 | 458,294 | 446,389 |
| Operating expenses | ||||
| Research and development | 47,494 | 50,411 | 138,489 | 155,792 |
| Sales and marketing | 34,985 | 46,093 | 107,407 | 141,277 |
| General and administrative | 41,257 | 31,276 | 104,964 | 93,201 |
| Provision for transaction losses | 2,393 | 1,795 | 6,421 | 4,496 |
| Total operating expenses | 126,129 | 129,575 | 357,281 | 394,766 |
| Income from operations | 29,758 | 20,793 | 101,013 | 51,623 |
| Other income, net | 5,917 | 8,091 | 18,112 | 20,433 |
| Income before income taxes | 35,675 | 28,884 | 119,125 | 72,056 |
| Income tax provision | (6,340) | (1,126) | (19,334) | (3,636) |
| Net income | $29,335 | $27,758 | $99,791 | $68,420 |
| Net income per share: | ||||
| Basic | $0.22 | $0.21 | $0.75 | $0.51 |
| Diluted | $0.21 | $0.20 | $0.72 | $0.50 |
| Weighted-average shares used to compute net income per share: | ||||
| Basic | 131,987 | 132,603 | 133,114 | 133,404 |
| Diluted | 139,666 | 139,294 | 140,910 | 140,552 |
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