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Upwork Inc is a United States-based company that operates an online marketplace that enables businesses to find and work with skilled independent professionals. The company develops platform for hiring and freelancing purposes. Its products offering include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The business generates revenue from Talent and Clients across the USA, India, the Philippines and the rest of the world. Substantial income is derived from providing services to clients.
2013
600
LTM Revenue $764M
LTM EBITDA $173M
$1.5B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Upwork has a last 12-month revenue of $764M and a last 12-month EBITDA of $173M.
In the most recent fiscal year, Upwork achieved revenue of $769M and an EBITDA of $82.9M.
Upwork expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Upwork valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $689M | $769M | XXX | XXX | XXX |
| Gross Profit | $458M | $519M | XXX | XXX | XXX |
| Gross Margin | 66% | 67% | XXX | XXX | XXX |
| EBITDA | $1.5M | $82.9M | XXX | XXX | XXX |
| EBITDA Margin | 0% | 11% | XXX | XXX | XXX |
| Net Profit | -$89.9M | $46.9M | XXX | XXX | XXX |
| Net Margin | -13% | 6% | XXX | XXX | XXX |
| Net Debt | $435M | $276M | XXX | XXX | XXX |
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As of April 15, 2025, Upwork's stock price is $13.
Upwork has current market cap of $1.7B, and EV of $1.5B.
See Upwork trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.5B | $1.7B | XXX | XXX | XXX | XXX | $1.06 |
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Sign UpAs of April 15, 2025, Upwork has market cap of $1.7B and EV of $1.5B.
Upwork's trades at 1.9x LTM EV/Revenue multiple, and 8.5x LTM EBITDA.
Analysts estimate Upwork's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Upwork and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.5B | XXX | XXX | XXX |
| EV/Revenue | 1.9x | XXX | XXX | XXX |
| EV/EBITDA | 17.8x | XXX | XXX | XXX |
| P/E | 8.0x | XXX | XXX | XXX |
| P/E/Growth | -0.3x | XXX | XXX | XXX |
| EV/FCF | 10.6x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpUpwork's NTM/LTM revenue growth is 0%
Upwork's revenue per employee for the last fiscal year averaged $1.3M, while opex per employee averaged $0.9M for the same period.
Over next 12 months, Upwork's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Upwork's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Upwork and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 5583% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 11% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $1.3M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.9M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 24% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 17% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 27% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 69% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Freelancer | XXX | XXX | XXX | XXX | XXX | XXX |
| Seek | XXX | XXX | XXX | XXX | XXX | XXX |
| North Media | XXX | XXX | XXX | XXX | XXX | XXX |
| XXX | XXX | XXX | XXX | XXX | XXX | |
| BOSS Zhipin | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Upwork acquired XXX companies to date.
Last acquisition by Upwork was XXXXXXXX, XXXXX XXXXX XXXXXX . Upwork acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Upwork founded? | Upwork was founded in 2013. |
| Where is Upwork headquartered? | Upwork is headquartered in United States of America. |
| How many employees does Upwork have? | As of today, Upwork has 600 employees. |
| Who is the CEO of Upwork? | Upwork's CEO is Ms. Hayden Brown. |
| Is Upwork publicy listed? | Yes, Upwork is a public company listed on NAS. |
| What is the stock symbol of Upwork? | Upwork trades under UPWK ticker. |
| When did Upwork go public? | Upwork went public in 2018. |
| Who are competitors of Upwork? | Similar companies to Upwork include e.g. Freelancer, Seek, North Media, . |
| What is the current market cap of Upwork? | Upwork's current market cap is $1.7B |
| What is the current revenue of Upwork? | Upwork's last 12-month revenue is $764M. |
| What is the current EBITDA of Upwork? | Upwork's last 12-month EBITDA is $173M. |
| What is the current EV/Revenue multiple of Upwork? | Current revenue multiple of Upwork is 1.9x. |
| What is the current EV/EBITDA multiple of Upwork? | Current EBITDA multiple of Upwork is 8.5x. |
| What is the current revenue growth of Upwork? | Upwork revenue growth between 2023 and 2024 was 12%. |
| Is Upwork profitable? | Yes, Upwork is EBITDA-positive (as of the last 12 months). |
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