Filing Flows › Upwork (UPWK) › Free cash flow
Upwork (UPWK) free cash flow by quarter
Upwork's free cash flow was $53.9M in Q3 2026 (third quarter 2026), +50% from Q2 2026. Over the last 7 quarters it ranged from $12.9M (Q1 2026) to $69.4M (Q3 2025).
| Quarter | Free cash flow | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $53.9M | +50% | -22% |
| Q2 2026 | $35.9M | +178% | -45% |
| Q1 2026 | $12.9M | -80% | -58% |
| Q4 2025 | $63.2M | -9% | — |
| Q3 2025 | $69.4M | +6% | — |
| Q2 2025 | $65.6M | +113% | — |
| Q1 2025 | $30.8M | — | — |
Q3 2026 at a glance
Upwork, Q3 2026: revenue $186M (-8% year over year), operating margin 18.6%, net earnings $31.8M, operating cash flow $65.9M. The chart follows the revenue to costs, profit and cash.
Questions
What is Upwork's free cash flow?
Upwork's free cash flow was $53.9M in Q3 2026 (third quarter 2026), +50% from Q2 2026.
How has Upwork's free cash flow changed?
Over the last 7 quarters it ranged from $12.9M (Q1 2026) to $69.4M (Q3 2025).