Upwork Quarterly Balance Sheet
NASDAQ: UPWKTechnologyEDP ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Upwork financial position
As of Jun 30, 2026, Upwork reported total assets of $1.27 billion, up 1.0% from a year earlier against total liabilities of $663.1 million. Shareholders' equity stood at $611.3 million, or 48.0% of assets. The company held $476.0 million in cash and equivalents against $721.4 million of debt, a net debt position of $245.3 million.
The current ratio (current assets divided by current liabilities) was 1.42, meaning short-term assets cover obligations due within a year. Debt-to-equity was 1.18.
Summary generated from market data by MetaCap's automated system. Methodology
Upwork balance sheet (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 476.04M | 328.40M | 294.36M | 260.84M | 291.07M | 304.45M | 305.76M | 288.46M | 182.80M | 24.67M | 79.64M | 146.83M |
| Short-Term Investments | 138.20M | 251.33M | 378.43M | 382.26M | 343.51M | 317.62M | 316.34M | 312.72M | 314.94M | 465.94M | 470.46M | 408.42M |
| Receivables | 76.46M | 75.91M | 76.24M | 76.43M | 71.23M | 77.92M | 75.49M | 69.45M | 116.52M | 114.40M | 103.06M | 60.26M |
| Total Current Assets | 908.99M | 883.30M | 950.83M | 948.95M | 938.98M | 938.01M | 911.05M | 904.29M | 855.66M | 848.02M | 883.37M | 810.01M |
| Property, Plant & Equipment | 58.60M | 49.28M | 44.42M | 40.37M | 38.11M | 34.93M | 30.06M | 29.88M | 28.15M | 27.13M | 27.14M | 26.66M |
| Goodwill | 149.19M | 149.19M | 149.19M | 150.47M | 141.47M | 121.06M | 121.06M | 118.22M | 118.22M | 118.22M | 118.22M | 118.22M |
| Intangible Assets | 31.32M | 34.23M | 37.16M | 39.66M | 9.53M | 11.17M | 12.99M | 1.86M | 2.26M | 2.66M | 3.05M | — |
| Total Assets | 1.27B | 1.24B | 1.30B | 1.31B | 1.26B | 1.24B | 1.21B | 1.06B | 1.01B | 1.00B | 1.04B | 961.44M |
| Accounts Payable | 7.03M | 11.09M | 7.86M | 8.51M | 1.03M | 4.12M | 6.13M | 5.60M | 5.86M | 5.92M | 5.06M | 1.75M |
| Short-Term Debt | 360.69M | 360.23M | 359.77M | 359.31M | — | — | 0 | — | — | — | — | — |
| Total Current Liabilities | 638.25M | 647.20M | 650.17M | 660.48M | 279.62M | 274.70M | 268.43M | 284.44M | 285.10M | 289.49M | 293.00M | 253.06M |
| Long-Term Debt | 360.69M | 360.23M | 0 | 0 | 358.85M | 358.39M | 357.93M | 357.47M | 357.01M | 356.55M | 356.09M | 355.63M |
| Total Liabilities | 663.14M | 672.33M | 669.26M | 683.08M | 653.06M | 645.72M | 636.24M | 651.49M | 647.47M | 651.94M | 656.47M | 618.50M |
| Shareholders' Equity | 611.27M | 569.63M | 630.32M | 628.13M | 608.65M | 594.34M | 575.38M | 411.17M | 361.10M | 348.88M | 381.07M | 342.94M |
| Retained Earnings | 93.81M | 68.41M | 36.95M | 21.32M | -8.02M | -40.75M | -78.48M | -225.64M | -253.40M | -275.62M | -294.06M | -311.44M |
| Total Debt | 721.38M | 720.46M | 359.77M | 359.31M | 358.85M | 358.39M | 357.93M | 357.47M | 357.01M | 356.55M | 356.09M | 355.63M |
| Net Cash (Debt) | -107.14M | -140.73M | 313.01M | 283.79M | 275.73M | 263.68M | 264.17M | 243.72M | 140.74M | 134.06M | 194.01M | 199.62M |
| Shares Outstanding | 124.80M | 123.57M | 130.55M | 131.39M | 132.51M | 134.05M | 135.35M | 133.50M | 132.01M | 133.12M | 137.27M | 136.11M |
This table shows 12 quarterly periods of Upwork's balance sheet, from Q2 2026 back to Q3 2023, across 18 line items including cash & equivalents, short-term investments, receivables. Values in USD; B = billions, M = millions. Fiscal periods follow UPWK's reporting calendar. What is a balance sheet?