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Upwork (UPWK) Revenue & Revenue Breakdown

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Upwork Revenue Highlights

Latest Revenue (Y)

$769.33M

Latest Revenue (Q)

$194.00M

Main Segment (Y)

Enterprise

Upwork Revenue by Period

Upwork Revenue by Year

DateRevenueChange
2024-12-31$769.33M11.64%
2023-12-31$689.14M11.45%
2022-12-31$618.32M22.98%
2021-12-31$502.80M34.57%
2020-12-31$373.63M24.31%
2019-12-31$300.56M18.63%
2018-12-31$253.35M25.08%
2017-12-31$202.55M23.17%
2016-12-31$164.44M-

Upwork generated $769.33M in revenue during NA 2024, up 11.64% compared to the previous quarter, and up 255.96% compared to the same period a year ago.

Upwork Revenue by Quarter

DateRevenueChange
2024-09-30$194.00M0.45%
2024-06-30$193.13M1.15%
2024-03-31$190.94M3.81%
2023-12-31$183.93M4.67%
2023-09-30$175.73M4.22%
2023-06-30$168.61M4.82%
2023-03-31$160.86M-0.36%
2022-12-31$161.44M1.77%
2022-09-30$158.64M1.11%
2022-06-30$156.90M11.01%
2022-03-31$141.34M3.27%
2021-12-31$136.86M6.80%
2021-09-30$128.14M3.19%
2021-06-30$124.18M9.30%
2021-03-31$113.62M7.03%
2020-12-31$106.15M9.72%
2020-09-30$96.75M10.53%
2020-06-30$87.53M5.21%
2020-03-31$83.20M3.62%
2019-12-31$80.29M1.91%
2019-09-30$78.79M6.10%
2019-06-30$74.26M7.74%
2019-03-31$68.92M2.35%
2018-12-31$67.34M5.04%
2018-09-30$64.11M2.28%
2018-06-30$62.68M5.85%
2018-03-31$59.22M8.14%
2017-12-31$54.76M4.78%
2017-09-30$52.26M7.13%
2017-06-30$48.78M2.13%
2017-03-31$47.77M-

Upwork generated $194.00M in revenue during Q3 2024, up 0.45% compared to the previous quarter, and up 115.06% compared to the same period a year ago.

Upwork Revenue Breakdown

Upwork Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 24Dec 23Dec 22Dec 21Dec 20
Enterprise$662.11M----
Marketplace$107.22M$586.10M---
Market Place, Basic, Plus, And Other--$518.28M$427.48M-
Managed Services--$51.70M$40.46M$35.48M
Market Place, Enterprise--$48.34M$34.86M-
Market Place----$338.15M

Upwork's latest annual revenue breakdown by segment (product or service), as of Dec 24: Enterprise (86.06%), and Marketplace (13.94%).

Quarterly Revenue by Product

Product/ServiceDec 24Sep 24Mar 24Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
Marketplace-$167.34M$164.33M$117.78M----------------
Managed Services---$13.99M$11.98M$12.77M$13.71M$13.50M$12.57M$11.91M$11.43M$10.36M$9.72M$8.95M$9.29M$8.71M$9.07M$8.41M$8.10M$8.10M
Marketplace, Enterprise---$12.11M$14.32M$11.41M$12.50M$12.30M$10.76M-----------
Marketplace, Basic, Plus, And Other---------$118.67M----------
Market Place------------$114.46M$104.67M$96.87M$88.04M$78.46M$74.78M$70.50M$70.68M

Upwork Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
RHIRobert Half$5.80B$1.47B
PAYXPaychex$5.28B$1.51B
TNETTriNet Group$5.05B$1.24B
MANManpowerGroup$3.09B$-8.92B
KFYKorn Ferry$2.80B$676.54M
TBITrueBlue$1.57B$382.36M
KFRCKforce$1.41B$353.32M
HSIIHeidrick & Struggles$1.12B$278.56M
NSPInsperity$1.05B$1.56B
KELYAKelly Services$882.60M$1.06B
UPWKUpwork$769.33M$194.00M
HQIHireQuest$34.60M$9.42M

UPWK Revenue FAQ

What is Upwork’s yearly revenue?

Upwork's yearly revenue for 2024 was $769.32M, representing an increase of 11.64% compared to 2023. The company's yearly revenue for 2023 was $689.14M, representing an increase of 11.45% compared to 2022. UPWK's yearly revenue for 2022 was $618.32M, representing an increase of 22.98% compared to 2021.

What is Upwork’s quarterly revenue?

Upwork's quarterly revenue for Q3 2024 was $194M, a 0.45% increase from the previous quarter (Q2 2024), and a 10.39% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $193.13M, a 1.15% increase from the previous quarter (Q1 2024), and a 14.54% increase year-over-year (Q2 2023). UPWK's quarterly revenue for Q1 2024 was $190.94M, a 3.81% increase from the previous quarter (Q4 2023), and a 18.70% increase year-over-year (Q1 2023).

What is Upwork’s revenue growth rate?

Upwork's revenue growth rate for the last 3 years (2022-2024) was 24.42%, and for the last 5 years (2020-2024) was 105.91%.

What are Upwork’s revenue streams?

Upwork's revenue streams in c 24 are Enterprise, and Marketplace. Enterprise generated $662.11M in revenue, accounting 86.06% of the company's total revenue Marketplace generated $107.22M in revenue, accounting 13.94% of the company's total revenue, down -81.71% year-over-year.

What is Upwork’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Upwork was Enterprise. This segment made a revenue of $662.11M, representing 86.06% of the company's total revenue.