Company / Gross Margin
Upwork, Inc. Gross Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Gross Margin
77.8%
FY2025
5-year range
70.7% / 77.8%
FY2021-FY2025
Trend
+0.6%
vs FY2024
Sector context
#3 of 186
Industrials
What the data says
Among 186 Industrials companies, Upwork, Inc. is in the top 2% for gross margin. Gross Margin has increased for 7 consecutive years, from 62.0% in FY2018 to 77.8% in FY2025.
Based on SEC 10-K filings.
77.8% in FY2025 with a 5-year CAGR of +10.0%. Ranks 3rd among 186 companies in Industrials.
Improved from 75.3% to 77.8% over the past 2 years.
Industrials sector context is included.
Gross Margin over time
Growth rates
- 3-Year Change
- +5.7pp
- 5-Year Change
- +10.0pp
- 10-Year Change
- -
Sector benchmark
Top 2% in IndustrialsTop 2% of 186This company 77.8% Sector average 28.8%
▼
+170.4% above sector average
Key checks
Key Insights
- Upwork, Inc.'s gross margin has grown for 7 consecutive years.
- In FY2025, gross margin increased 0.6% year-over-year.
- Currently 49.0pp above the Industrials sector average.
- Lowest gross margin in the period was in FY2016.
Company context
Key Data Points
- Strong profit margin: 28.0%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Gross MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 77.8% | +0.6% |
| FY2024 | 77.4% | +2.8% |
| FY2023 | 75.3% | +4.4% |
| FY2022 | 72.1% | +2.0% |
| FY2021 | 70.7% | +4.2% |
| FY2020 | 67.8% | +0.2% |
| FY2019 | 67.7% | +9.3% |
| FY2018 | 62.0% | -8.5% |
| FY2017 | 67.7% | +9.3% |
| FY2016 | 61.9% | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026