$UPWK
UPWORK, INC

2024 Q4 Form 10-Q Financial Statement

#000162747524000043 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $193.8M
YoY Change 10.27%
Cost Of Revenue $43.41M
YoY Change 0.31%
Gross Profit $150.4M
YoY Change 13.52%
Gross Profit Margin 77.6%
Selling, General & Admin $77.37M
YoY Change 1.85%
% of Gross Profit 51.45%
Research & Development $50.41M
YoY Change 16.1%
% of Gross Profit 33.53%
Depreciation & Amortization $700.0K
YoY Change 0.0%
% of Gross Profit 0.47%
Operating Expenses $129.6M
YoY Change 7.09%
Operating Profit $20.79M
YoY Change 81.34%
Interest Expense $7.700M
YoY Change 982.98%
% of Operating Profit 37.03%
Other Income/Expense, Net $8.091M
YoY Change 24.92%
Pretax Income $28.88M
YoY Change 67.62%
Income Tax $1.126M
% Of Pretax Income 3.9%
Net Earnings $27.76M
YoY Change 69.91%
Net Earnings / Revenue 14.32%
Basic Earnings Per Share $0.21
Diluted Earnings Per Share $0.20
COMMON SHARES
Basic Shares Outstanding 133.7M shares 132.6M shares
Diluted Shares Outstanding 139.3M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $601.2M
YoY Change 8.28%
Cash & Equivalents $288.5M
Short-Term Investments $312.7M
Other Short-Term Assets $233.7M
YoY Change 20.13%
Inventory
Prepaid Expenses
Receivables $69.45M
Other Receivables $0.00
Total Short-Term Assets $904.3M
YoY Change 11.64%
LONG-TERM ASSETS
Property, Plant & Equipment $29.88M
YoY Change 12.06%
Goodwill $118.2M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.974M
YoY Change 43.15%
Total Long-Term Assets $158.4M
YoY Change 4.59%
TOTAL ASSETS
Total Short-Term Assets $904.3M
Total Long-Term Assets $158.4M
Total Assets $1.063B
YoY Change 10.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.601M
YoY Change 220.61%
Accrued Expenses $55.75M
YoY Change 7.01%
Deferred Revenue $8.782M
YoY Change -58.65%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $284.4M
YoY Change 12.4%
LONG-TERM LIABILITIES
Long-Term Debt $357.5M
YoY Change 0.52%
Other Long-Term Liabilities $361.0K
YoY Change -87.45%
Total Long-Term Liabilities $357.8M
YoY Change -0.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $284.4M
Total Long-Term Liabilities $357.8M
Total Liabilities $651.5M
YoY Change 5.33%
SHAREHOLDERS EQUITY
Retained Earnings -$225.6M
YoY Change -27.55%
Common Stock $635.6M
YoY Change -2.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $411.2M
YoY Change
Total Liabilities & Shareholders Equity $1.063B
YoY Change 10.53%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $27.76M
YoY Change 69.91%
Depreciation, Depletion And Amortization $700.0K
YoY Change 0.0%
Cash From Operating Activities $102.1M
YoY Change 176.4%
INVESTING ACTIVITIES
Capital Expenditures $4.167M
YoY Change 18.05%
Acquisitions
YoY Change
Other Investing Activities $6.245M
YoY Change -114.97%
Cash From Investing Activities $2.078M
YoY Change -104.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.189M
YoY Change -341.59%
NET CHANGE
Cash From Operating Activities 102.1M
Cash From Investing Activities 2.078M
Cash From Financing Activities -3.189M
Net Change In Cash 101.0M
YoY Change -1551.39%
FREE CASH FLOW
Cash From Operating Activities $102.1M
Capital Expenditures $4.167M
Free Cash Flow $97.96M
YoY Change 193.12%

Facts In Submission

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UPWORK INC.
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530 Lytton Avenue, Suite 301
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2564000 usd
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
2692000 usd
us-gaap Net Income Loss
NetIncomeLoss
29513000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
342939000 usd
us-gaap Profit Loss
ProfitLoss
68420000 usd
us-gaap Profit Loss
ProfitLoss
29513000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
3533000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
6806000 usd
upwk Depreciation And Amortization Excluding Amortization Of Financing Costs
DepreciationAndAmortizationExcludingAmortizationOfFinancingCosts
10443000 usd
upwk Depreciation And Amortization Excluding Amortization Of Financing Costs
DepreciationAndAmortizationExcludingAmortizationOfFinancingCosts
5641000 usd
us-gaap Amortization Of Financing Costs
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1381000 usd
us-gaap Amortization Of Financing Costs
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1637000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
10431000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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9832000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2428000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2435000 usd
upwk Increase Decrease In Common Stock Warrant
IncreaseDecreaseInCommonStockWarrant
563000 usd
upwk Increase Decrease In Common Stock Warrant
IncreaseDecreaseInCommonStockWarrant
563000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
54758000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
56148000 usd
us-gaap Gains Losses On Extinguishment Of Debt
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0 usd
us-gaap Gains Losses On Extinguishment Of Debt
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38945000 usd
us-gaap Increase Decrease In Accounts Receivable
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-29857000 usd
us-gaap Increase Decrease In Accounts Receivable
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2638000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2468000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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upwk Increase Decrease Operating Lease Liability
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-4215000 usd
upwk Increase Decrease Operating Lease Liability
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
541000 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1077000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-9369000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-9001000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
145074000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32560000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
234504000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
449180000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
365269000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
451047000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
38421000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
159575000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1979000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
558000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
8600000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
9179000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
158607000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
151705000 usd
upwk Changes In Escrow Funds Payable
ChangesInEscrowFundsPayable
1915000 usd
upwk Changes In Escrow Funds Payable
ChangesInEscrowFundsPayable
16513000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1935000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1941000 usd
us-gaap Proceeds From Stock Plans
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2917000 usd
us-gaap Proceeds From Stock Plans
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2564000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100000000 usd
us-gaap Payments For Repurchase Of Common Stock
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0 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
171327000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-93233000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
210448000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
33956000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296418000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
295231000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
506866000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329187000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
3178000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
661000 usd
us-gaap Interest Paid Net
InterestPaidNet
920000 usd
us-gaap Interest Paid Net
InterestPaidNet
1314000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4436000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
310000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
upwk Internal Use Software And Platform Development Costs Incurred But Not Paid
InternalUseSoftwareAndPlatformDevelopmentCostsIncurredButNotPaid
256000 usd
us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;text-align:justify"><span style="color:#14a800;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods presented. Such estimates include, but are not limited to: the useful lives of assets; assessment of the recoverability of long-lived assets; goodwill impairment; standalone selling price of material rights and the period of time over which to defer and recognize the consideration allocated to the material rights; allowance for expected credit losses; liabilities relating to transaction losses; stock-based compensation; and </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">accounting for income taxes. Management bases its estimates on historical experience and on various other assumptions that management believes to be reasonable under the circumstances. The Company evaluates its estimates, assumptions, and judgments on an ongoing basis using historical experience and other factors and revises them when facts and circumstances dictate.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.</span></div>
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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2500000 usd
CY2023Q2 upwk Revenue From Contract With Customer Service Fee
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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2500000 usd
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q3 us-gaap Accounts Receivable Net Current
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69447000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
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103061000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
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8782000 usd
CY2024Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
0 usd
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
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8300000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
503636000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1244000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
504868000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
488964000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
308000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
78000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
489194000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
67904000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
10000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
3171000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
71075000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
12000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
48036000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
46000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
15587000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
32000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
63623000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
78000 usd
CY2024Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
7700000 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
6600000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
21600000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
16900000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
288464000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
79641000 usd
CY2024Q3 us-gaap Restricted Cash
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4100000 usd
CY2023Q4 us-gaap Restricted Cash
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4390000 usd
CY2024Q3 upwk Funds Held In Escrow Including Funds In Transit
FundsHeldInEscrowIncludingFundsInTransit
214302000 usd
CY2023Q4 upwk Funds Held In Escrow Including Funds In Transit
FundsHeldInEscrowIncludingFundsInTransit
212387000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
506866000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296418000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
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79877000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
68090000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
50002000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
40950000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
29875000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27140000 usd
CY2024Q3 us-gaap Depreciation
Depreciation
700000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
700000 usd
us-gaap Depreciation
Depreciation
2000000 usd
us-gaap Depreciation
Depreciation
2200000 usd
CY2024Q3 us-gaap Capitalized Computer Software Additions
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3600000 usd
CY2023Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
3400000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
9700000 usd
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
9800000 usd
CY2024Q3 us-gaap Capitalized Computer Software Amortization1
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2600000 usd
CY2023Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1100000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
7300000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3400000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
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CY2023Q4 us-gaap Employee Related Liabilities Current
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25872000 usd
CY2024Q3 upwk Accrued Indirect Taxes Current
AccruedIndirectTaxesCurrent
11846000 usd
CY2023Q4 upwk Accrued Indirect Taxes Current
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13171000 usd
CY2024Q3 upwk Accrued Vendor Expenses Current
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7799000 usd
CY2023Q4 upwk Accrued Vendor Expenses Current
AccruedVendorExpensesCurrent
8844000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2776000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5687000 usd
CY2024Q3 upwk Accrued Payment Processing Fees Current
AccruedPaymentProcessingFeesCurrent
4503000 usd
CY2023Q4 upwk Accrued Payment Processing Fees Current
AccruedPaymentProcessingFeesCurrent
2090000 usd
CY2024Q3 upwk Accrued Talent Costs Current
AccruedTalentCostsCurrent
1556000 usd
CY2023Q4 upwk Accrued Talent Costs Current
AccruedTalentCostsCurrent
1415000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
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663000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1113000 usd
CY2024Q3 upwk Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
55754000 usd
CY2023Q4 upwk Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
58192000 usd
CY2023Q4 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
8100000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
100000000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
12.38
CY2024Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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0 usd
CY2024Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
600000 usd
CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
800000 usd
CY2023Q4 us-gaap Line Of Credit
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0 usd
CY2024Q3 us-gaap Line Of Credit
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CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
360998000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
360998000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3530000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4911000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
357468000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
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356087000 usd
CY2024Q3 us-gaap Debt Weighted Average Interest Rate
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0.0076
CY2023Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0077
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27758000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16337000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
68420000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29513000 usd
CY2024Q3 upwk Gain On Early Extinguishment Of Convertible Debt Net Of Tax
GainOnEarlyExtinguishmentOfConvertibleDebtNetOfTax
0 usd
CY2023Q3 upwk Gain On Early Extinguishment Of Convertible Debt Net Of Tax
GainOnEarlyExtinguishmentOfConvertibleDebtNetOfTax
0 usd
upwk Gain On Early Extinguishment Of Convertible Debt Net Of Tax
GainOnEarlyExtinguishmentOfConvertibleDebtNetOfTax
0 usd
upwk Gain On Early Extinguishment Of Convertible Debt Net Of Tax
GainOnEarlyExtinguishmentOfConvertibleDebtNetOfTax
38525000 usd
CY2024Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
652000 usd
CY2023Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
1954000 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
389000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
28410000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16337000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
70374000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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132603307 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
135449848 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133404102 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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134152107 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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297714 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
299758 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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297747 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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0 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
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0 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
182757 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
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0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
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0 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
5463045 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
5463045 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1032059 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139294133 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137290635 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140552454 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135184166 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13042148 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19286280 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12584655 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21127309 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193776000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
175733000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
577842000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
505202000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193776000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
175733000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
577842000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
505202000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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