Filing Flows › Upwork (UPWK) › Gross margin
Upwork (UPWK) gross margin by quarter
Upwork's gross margin was 76.1% in Q3 2026 (third quarter 2026), -0.2 pts from Q2 2026. Over the last 7 quarters it ranged from 76.1% (Q3 2026) to 78.3% (Q1 2025).
| Quarter | Gross margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 76.1% | -0.2 pts | -1.1 pts |
| Q2 2026 | 76.4% | -0.8 pts | -1.3 pts |
| Q1 2026 | 77.2% | -0.8 pts | -1.1 pts |
| Q4 2025 | 78.0% | +0.7 pts | — |
| Q3 2025 | 77.3% | -0.4 pts | — |
| Q2 2025 | 77.7% | -0.6 pts | — |
| Q1 2025 | 78.3% | — | — |
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 gross margin?
Upwork's gross margin was 76.1% in Q3 2026 (third quarter 2026), -0.2 pts from Q2 2026.
How has Upwork's gross margin changed?
Over the last 7 quarters it ranged from 76.1% (Q3 2026) to 78.3% (Q1 2025).