UPWORK, INC
For the period ended Nov 2, 2026. Filed Nov 2, 2026.
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Nov 2, 2026 · Filed Nov 2, 2026
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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, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue | ||||
| Marketplace | $159,321 | $174,572 | $496,884 | $511,525 |
| Enterprise | 26,278 | 27,158 | 75,858 | 77,850 |
| Total revenue | 185,599 | 201,730 | 572,742 | 589,375 |
| Cost of revenue | 44,304 | 45,843 | 134,233 | 131,081 |
| Gross profit | 141,295 | 155,887 | 438,509 | 458,294 |
| Operating expenses | ||||
| Research and development | 34,889 | 47,494 | 122,090 | 138,489 |
| Sales and marketing | 33,832 | 34,985 | 106,183 | 107,407 |
| General and administrative | 36,805 | 41,257 | 108,841 | 104,964 |
| Provision for transaction losses | 1,176 | 2,393 | 5,947 | 6,421 |
| Total operating expenses | 106,702 | 126,129 | 343,061 | 357,281 |
| Income from operations | 34,593 | 29,758 | 95,448 | 101,013 |
| Other income, net | 3,951 | 5,917 | 12,909 | 18,112 |
| Income before income taxes | 38,544 | 35,675 | 108,357 | 119,125 |
| Income tax provision | (6,734) | (6,340) | (19,682) | (19,334) |
| Net income | $31,810 | $29,335 | $88,675 | $99,791 |
| Net income per share: | ||||
| Basic | $0.25 | $0.22 | $0.71 | $0.75 |
| Diluted | $0.25 | $0.21 | $0.69 | $0.72 |
| Weighted-average shares used to compute net income per share: | ||||
| Basic | 125,103 | 131,987 | 125,701 | 133,114 |
| Diluted | 128,261 | 139,666 | 131,383 | 140,910 |
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