Upwork (UPWK) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 76.4%
EBITDA Margin: 15.1%
Op. Margin: 14.7%
Net Margin: 13.3%

Op. margin of 14.7% is down 2.0% YoY — costs are rising relative to revenue. Net margin at 13.3% and gross margin of 76.4% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit