UPWK NASDAQ
Upwork Inc.
1W: +3.7%
1M: +12.4%
3M: -4.8%
YTD: -54.3%
1Y: -43.3%
3Y: -16.9%
5Y: -84.6%
$9.07
-0.44 (-4.63%)
Weekly Expected Move ±5.6%
$8
$9
$9
$10
$11
Credit Risk of going bust: higher than 78% of companies Debt: 24.9% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the third-riskiest tenth, about 1 in 140 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.60 (down 93%), Upwork Inc. would be worth roughly what it owes.
Total debt $375.1M against a stock market value of $1.13B.
Distance to default 2.82 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $367.9M (short-term plus half of long-term), stock volatility 61.7%; Altman Z'' 3.34. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $0.60 (down 93%), Upwork Inc. would be worth roughly what it owes.
Total debt $375.1M against a stock market value of $1.13B.
Distance to default 2.82 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $367.9M (short-term plus half of long-term), stock volatility 61.7%; Altman Z'' 3.34. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Income Statement
Cash Flow
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Cash Flow Trends
Operating Cash Flow
$248M
+61.7% ▲
5Y CAGR: +61.8%
Capital Expenditures
$6M
+59.9% ▲
5Y CAGR: -16.6%
Free Cash Flow
$242M
+74.3% ▲
5Y CAGR: +97.8%
Dividends Paid
$0
+0.0% ▲
Buybacks
$136M
-36.0% ▼
Net Change in Cash
-$27M
-112.8% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$56M | -$90M | $47M | $216M | $115M |
| Depreciation & Amort. | $14M | $11M | $13M | $18M | $26M |
| Stock-Based Comp. | $54M | $76M | $74M | $68M | $65M |
| Change in Working Capital | -$16M | -$11M | -$39M | -$15M | $21M |
| Other Non-Cash Items | $16M | $26M | -$42M | -$4M | $1M |
| Operating Cash Flow | $11M | $11M | $53M | $154M | $248M |
| — Investing Activities — | |||||
| Capital Expenditures | -$1M | -$1M | -$692K | -$4M | -$6M |
| Acquisitions (Net) | $0 | $0 | $0 | -$14M | -$58M |
| Investment Purchases | -$525M | -$582M | -$709M | -$362M | -$493M |
| Investment Sales | $102M | $521M | $814M | $529M | $432M |
| Other Investing | -$5M | -$7M | -$16M | -$11M | -$11M |
| Investing Cash Flow | -$429M | -$69M | $88M | $138M | -$137M |
| — Financing Activities — | |||||
| Net Debt Issuance | $564M | $0 | -$171M | $0 | $0 |
| Stock Repurchased | $0 | $0 | $0 | -$100M | -$136M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | -$27M | $1M | $32M | $18M | -$7M |
| Financing Cash Flow | $538M | $1M | -$140M | -$82M | -$138M |
| Net Change in Cash | $120M | -$57M | $1M | $209M | -$27M |
| Cash End of Period | $352M | $295M | $296M | $506M | $479M |
| Free Cash Flow | $5M | $3M | $36M | $139M | $242M |