Upwork Past Earnings Performance
Past criteria checks 2/6
Upwork's earnings have been declining at an average annual rate of -7.5%, while the Professional Services industry saw earnings growing at 11.8% annually. Revenues have been growing at an average rate of 21.3% per year. Upwork's return on equity is 12.3%, and it has net margins of 6.8%.
Key information
-7.5%
Earnings growth rate
0.3%
EPS growth rate
| Professional Services Industry Growth | 12.9% |
| Revenue growth rate | 21.3% |
| Return on equity | 12.3% |
| Net Margin | 6.8% |
| Next Earnings Update | 01 May 2024 |
Recent past performance updates
Recent updates
Revenue & Expenses BreakdownBeta
How Upwork makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 23 | 689 | 47 | 340 | 177 |
| 30 Sep 23 | 667 | 13 | 349 | 173 |
| 30 Jun 23 | 650 | -28 | 370 | 168 |
| 31 Mar 23 | 638 | -48 | 378 | 161 |
| 31 Dec 22 | 618 | -90 | 371 | 155 |
| 30 Sep 22 | 594 | -96 | 362 | 146 |
| 30 Jun 22 | 563 | -80 | 337 | 138 |
| 31 Mar 22 | 531 | -73 | 311 | 131 |
| 31 Dec 21 | 503 | -56 | 288 | 119 |
| 30 Sep 21 | 472 | -33 | 256 | 108 |
| 30 Jun 21 | 441 | -26 | 239 | 98 |
| 31 Mar 21 | 404 | -21 | 219 | 91 |
| 31 Dec 20 | 374 | -23 | 205 | 83 |
| 30 Sep 20 | 348 | -29 | 198 | 77 |
| 30 Jun 20 | 329 | -30 | 189 | 72 |
| 31 Mar 20 | 315 | -22 | 176 | 68 |
| 31 Dec 19 | 301 | -17 | 163 | 64 |
| 30 Sep 19 | 288 | -17 | 150 | 63 |
| 30 Jun 19 | 274 | -20 | 139 | 61 |
| 31 Mar 19 | 263 | -18 | 128 | 58 |
| 31 Dec 18 | 253 | -20 | 122 | 55 |
| 30 Sep 18 | 241 | -25 | 117 | 54 |
| 30 Jun 18 | 229 | -18 | 109 | 51 |
| 31 Mar 18 | 214 | -17 | 101 | 49 |
| 31 Dec 17 | 203 | -11 | 90 | 46 |
| 31 Dec 16 | 164 | -16 | 72 | 38 |
Quality Earnings: UPWK * has a high level of non-cash earnings.
Growing Profit Margin: UPWK * became profitable in the past.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: UPWK * has become profitable over the past 5 years, growing earnings by -7.5% per year.
Accelerating Growth: UPWK * has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: UPWK * has become profitable in the last year, making it difficult to compare its past year earnings growth to the Professional Services industry (4.2%).
Return on Equity
High ROE: UPWK *'s Return on Equity (12.3%) is considered low.