Quick Answer
UPWORK, INC reported R&D Expense of $185.54 million for fiscal year 2025.
UPWORK, INC R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $185.54M | -11.3% |
| 2024 | $209.28M | +18.0% |
| 2023 | $177.36M | +14.8% |
| 2022 | $154.55M | +29.8% |
| 2021 | $119.08M | +42.7% |
| 2020 | $83.47M | +30.4% |
| 2019 | $64.03M | +15.4% |
| 2018 | $55.49M | +21.7% |
| 2017 | $45.60M | +20.3% |
| 2016 | $37.90M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $47.49M | -5.8% | +5.9% |
| June 30, 2025 | $44.84M | -14.5% | -2.8% |
| March 31, 2025 | $46.15M | -12.8% | -8.4% |
| September 30, 2024 | $50.41M | +16.1% | -3.9% |
| June 30, 2024 | $52.47M | +21.3% | -0.9% |
| March 31, 2024 | $52.92M | +19.0% | +21.9% |
| September 30, 2023 | $43.42M | +11.6% | +0.4% |
| June 30, 2023 | $43.25M | +20.7% | -2.8% |
- UPWORK, INC showed a decrease of -11.3% in R&D Expense compared to the prior fiscal year.
- Over the 2016–2025 period, UPWORK, INC’s r&d expense has grown by 389.5% (from $37.90 million to $185.54 million).
- The most recent figure is from UPWORK, INC’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 13, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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