Upwork annual capital expenditures (capex)
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2025
Upwork Capital Expenditures (CapEx) Growth & History (UPWK)
Upwork's capital expenditures (capex) was $5.8M for fiscal 2025.
View full Upwork company overviewUpwork annual capital expenditures (capex) history
| Fiscal year | Period ended | Capital expenditures (CapEx) | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $5.8M | $2.3M | +64.12% |
| 2024 | 2024-12-31 | $3.5M | $2.8M | +409.83% |
| 2023 | 2023-12-31 | $692,000 | −$556,000 | −44.55% |
| 2022 | 2022-12-31 | $1.2M | $221,000 | +21.52% |
| 2021 | 2021-12-31 | $1.0M | −$5.3M | −83.75% |
| 2020 | 2020-12-31 | $6.3M | −$4.4M | −41.22% |
| 2019 | 2019-12-31 | $10.8M | $7.8M | +258.16% |
| 2018 | 2018-12-31 | $3.0M | $1.2M | +64.04% |
| 2017 | 2017-12-31 | $1.8M | $984,000 | +116.31% |
| 2016 | 2016-12-31 | $846,000 | — | — |
Upwork quarterly capital expenditures (capex)
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Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
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Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
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Q4.22
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Capital expenditures (CapEx) | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $1.6M | −$763,000 | −32.05% |
| Q1 2026 | 2026-03-31 | $1.7M | −$749,000 | −30.30% |
| Q4 2025 | 2025-12-31 | $455,000 | −$1.1M | −70.63% |
| Q3 2025 | 2025-09-30 | $482,000 | −$722,000 | −59.97% |
| Q2 2025 | 2025-06-30 | $2.4M | $1.8M | +298.16% |
| Q1 2025 | 2025-03-31 | $2.5M | $2.3M | +1296.61% |
| Q4 2024 | 2024-12-31 | $1.5M | $1.4M | +1055.97% |
| Q3 2024 | 2024-09-30 | $1.2M | $781,000 | +184.63% |
| Q2 2024 | 2024-06-30 | $598,000 | $575,000 | +2500.00% |
| Q1 2024 | 2024-03-31 | $177,000 | $19,000 | +12.03% |
| Q4 2023 | 2023-12-31 | $134,000 | −$221,000 | −62.25% |
| Q3 2023 | 2023-09-30 | $423,000 | $132,000 | +45.36% |
| Q2 2023 | 2023-06-30 | $23,000 | −$386,000 | −94.38% |
| Q1 2023 | 2023-03-31 | $158,000 | −$35,000 | −18.13% |
| Q4 2022 | 2022-12-31 | $355,000 | −$107,000 | −23.16% |
| Q3 2022 | 2022-09-30 | $291,000 | $60,000 | +25.97% |
| Q2 2022 | 2022-06-30 | $409,000 | $145,000 | +54.92% |
| Q1 2022 | 2022-03-31 | $193,000 | $123,000 | +175.71% |
| Q4 2021 | 2021-12-31 | $462,000 | $352,000 | +320.00% |
| Q3 2021 | 2021-09-30 | $231,000 | −$352,000 | −60.38% |
| Q2 2021 | 2021-06-30 | $264,000 | −$4.1M | −93.92% |
| Q1 2021 | 2021-03-31 | $70,000 | −$1.2M | −94.57% |
| Q4 2020 | 2020-12-31 | $110,000 | −$412,000 | −78.93% |
| Q3 2020 | 2020-09-30 | $583,000 | −$2.2M | −79.14% |
| Q2 2020 | 2020-06-30 | $4.3M | $508,000 | +13.26% |
| Q1 2020 | 2020-03-31 | $1.3M | −$2.3M | −64.26% |
| Q4 2019 | 2019-12-31 | $522,000 | −$882,000 | −62.82% |
| Q3 2019 | 2019-09-30 | $2.8M | $2.5M | +828.57% |
| Q2 2019 | 2019-06-30 | $3.8M | $3.0M | +358.80% |
| Q1 2019 | 2019-03-31 | $3.6M | $3.1M | +680.09% |
| Q4 2018 | 2018-12-31 | $1.4M | — | — |
| Q3 2018 | 2018-09-30 | $301,000 | — | — |
| Q2 2018 | 2018-06-30 | $835,000 | — | — |
| Q1 2018 | 2018-03-31 | $462,000 | — | — |
Upwork capital expenditures (capex) trends
Over the last five fiscal years, Upwork's capital expenditures (capex) decreased from $6.3M to $5.8M, a change of −$530,000. The latest reported quarter, Q2 2026, shows $1.6M.
About the metric
What capital expenditures (CapEx) mean
Capital expenditures, commonly called CapEx, are cash investments in long-lived assets such as property, plants, equipment, infrastructure, and productive software. CapEx can support future growth or maintain existing operations, but it reduces current-period free cash flow.
Calculation and source
SEC-reported capital expenditures
TickerStat standardizes cash payments for property, plant, equipment, and other productive assets reported in company SEC filings. When a filer reports separate qualifying CapEx components instead of a total, those components are combined for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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