Upwork (UPWK) Revenue & Revenue Breakdown
Upwork Revenue Highlights
Latest Revenue (Y)
$689.14M
Latest Revenue (Q)
$190.94M
Main Segment (Y)
Marketplace
Upwork Revenue by Period
Upwork Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $689.14M | 11.45% |
| 2022-12-31 | $618.32M | 22.98% |
| 2021-12-31 | $502.80M | 34.57% |
| 2020-12-31 | $373.63M | 24.31% |
| 2019-12-31 | $300.56M | 18.63% |
| 2018-12-31 | $253.35M | 25.08% |
| 2017-12-31 | $202.55M | 23.17% |
| 2016-12-31 | $164.44M | - |
Upwork generated $689.14M in revenue during NA 2023, up 11.45% compared to the previous quarter, and up 272.01% compared to the same period a year ago.
Upwork Revenue by Quarter
| Date | Revenue | Change |
|---|---|---|
| 2024-03-31 | $190.94M | 3.81% |
| 2023-12-31 | $183.93M | 4.67% |
| 2023-09-30 | $175.73M | 4.22% |
| 2023-06-30 | $168.61M | 4.82% |
| 2023-03-31 | $160.86M | -0.36% |
| 2022-12-31 | $161.44M | 1.77% |
| 2022-09-30 | $158.64M | 1.11% |
| 2022-06-30 | $156.90M | 11.01% |
| 2022-03-31 | $141.34M | 3.27% |
| 2021-12-31 | $136.86M | 6.80% |
| 2021-09-30 | $128.14M | 3.19% |
| 2021-06-30 | $124.18M | 9.30% |
| 2021-03-31 | $113.62M | 7.03% |
| 2020-12-31 | $106.15M | 9.72% |
| 2020-09-30 | $96.75M | 10.53% |
| 2020-06-30 | $87.53M | 5.21% |
| 2020-03-31 | $83.20M | 3.62% |
| 2019-12-31 | $80.29M | 1.91% |
| 2019-09-30 | $78.79M | 6.10% |
| 2019-06-30 | $74.26M | 7.74% |
| 2019-03-31 | $68.92M | 2.35% |
| 2018-12-31 | $67.34M | 5.04% |
| 2018-09-30 | $64.11M | 2.28% |
| 2018-06-30 | $62.68M | 5.85% |
| 2018-03-31 | $59.22M | 8.14% |
| 2017-12-31 | $54.76M | 4.78% |
| 2017-09-30 | $52.26M | 7.13% |
| 2017-06-30 | $48.78M | 2.13% |
| 2017-03-31 | $47.77M | - |
Upwork generated $190.94M in revenue during Q1 2024, up 3.81% compared to the previous quarter, and up 118.27% compared to the same period a year ago.
Upwork Revenue Breakdown
Upwork Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| Marketplace | $586.10M | - | - | - | - |
| Market Place, Basic, Plus, And Other | - | $518.28M | $427.48M | - | - |
| Managed Services | - | $51.70M | $40.46M | $35.48M | $32.28M |
| Market Place, Enterprise | - | $48.34M | $34.86M | - | - |
| Market Place | - | - | - | $338.15M | $268.28M |
Upwork's latest annual revenue breakdown by segment (product or service), as of Dec 23: Marketplace (100.00%).
Quarterly Revenue by Product
| Product/Service | Mar 24 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marketplace | $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 | $8.05M | $8.02M |
| 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 | $66.20M | $60.90M |
Upwork's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Marketplace (100.00%).
Upwork Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| MAN | ManpowerGroup | $18.91B | $4.52B |
| NSP | Insperity | $6.49B | $1.60B |
| PAYX | Paychex | $5.28B | $1.44B |
| TNET | TriNet Group | $4.92B | $1.23B |
| KELYA | Kelly Services | $4.84B | $1.05B |
| KFY | Korn Ferry | $2.80B | $682.76M |
| RHI | Robert Half | $2.58B | $1.47B |
| TBI | TrueBlue | $1.91B | $104.42M |
| KFRC | Kforce | $1.53B | $356.32M |
| HSII | Heidrick & Struggles | $1.04B | $282.88M |
| UPWK | Upwork | $689.14M | $190.94M |
| HQI | HireQuest | $37.88M | $8.68M |
UPWK Revenue FAQ
What is Upwork’s yearly revenue?
Upwork's yearly revenue for 2023 was $689.14M, representing an increase of 11.45% compared to 2022. The company's yearly revenue for 2022 was $618.32M, representing an increase of 22.98% compared to 2021. UPWK's yearly revenue for 2021 was $502.8M, representing an increase of 34.57% compared to 2020.
What is Upwork’s quarterly revenue?
Upwork'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). The company's quarterly revenue for Q4 2023 was $183.93M, a 4.67% increase from the previous quarter (Q3 2023), and a 13.93% increase year-over-year (Q4 2022). UPWK's quarterly revenue for Q3 2023 was $175.73M, a 4.22% increase from the previous quarter (Q2 2023), and a 10.77% increase year-over-year (Q3 2022).
What is Upwork’s revenue growth rate?
Upwork's revenue growth rate for the last 3 years (2021-2023) was 37.06%, and for the last 5 years (2019-2023) was 129.28%.
What are Upwork’s revenue streams?
Upwork's revenue streams in c 23 are Marketplace
What is Upwork’s main source of revenue?
For the fiscal year ending Dec 23, the largest source of revenue of Upwork was Marketplace. This segment made a revenue of $586.1M, representing 100.00% of the company's total revenue.