# UPWORK INC. (UPWK) · Edgar & Edgarette company card

> Upwork (UPWK) grew revenue 2.4% in FY2025 to $788 million, operating margin 16.4% against a 7.7% median for computer processing & data preparation, equity 48.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1627475 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/UPWK) · [JSON](https://www.pops4.com/boards/company/UPWK.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $788M |
| Revenue growth, 1 year | 2.4% |
| Revenue growth per year | 11.9% |
| Operating margin | 16.4% (prior year 8.5%) |
| Net margin | 14.7% |
| Operating cash flow | $248M |
| Capital spending | $6M |
| Free cash flow | $242M |
| Cash | $294M |
| Long-term debt | $360M |
| Total assets | $1.3B |
| Total equity | $630M |
| Equity ÷ assets | 48.5% |
| Return on equity | 18.3% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 3.27 (safe zone)
- Piotroski F: 6 of 9 (solid)
- Beneish M: -2.92 (below the −1.78 line)
- Health Harbor boat: Sound ship · one warning sign · filed restructuring or exit costs in the last 12 months
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $787.8M (FY2025), total debt $359.8M. Experience: revenue up 2.4% on the year, up 11.9% a year over 4 years; operating margin 16.4%, up from 8.5%. Soundness: equity 48.5% of assets, return on equity 18.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $702.7M and $942.5M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $652.4M to $1.0B. A statistical range, not company guidance. Against peers (35 filers, $50M+ revenue, services-computer processing & data preparation): operating margin 16.4% against a 7.7% median; growth 2.4% against 10.2%.

Range logged 2026-11-01, receipt e64c040a79731626, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 2.05 Restructuring or exit costs: 1, latest 2026-05-07 ([filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000033/0001627475-26-000033-index.htm))
- Item 5.02 Director or officer change: 5, latest 2026-11-02 ([filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000053/0001627475-26-000053-index.htm))

## Recent filings

- 10-Q · filed 2026-11-02 · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000055/0001627475-26-000055-index.htm)
- 8-K · filed 2026-11-02 · 2.02 Results of Operations and Financial Condition; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000053/0001627475-26-000053-index.htm)
- 10-Q · filed 2026-08-10 · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000047/0001627475-26-000047-index.htm)
- 8-K · filed 2026-08-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000046/0001627475-26-000046-index.htm)
- 8-K · filed 2026-07-16 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000042/0001627475-26-000042-index.htm)
- 8-K · filed 2026-06-23 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1627475/000162747526000039/0001627475-26-000039-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001627475.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1627475

## Cite

POPS4, Edgar & Edgarette: UPWORK INC. (UPWK) company card, from the company's own SEC filings, accessed 2026-11-03, https://www.pops4.com/boards/company/UPWK. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.