UPWORK INC. (UPWK) Spending and interest coverage
- R&D / revenue · 12 months: Value 23.09%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 8.47%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 23.09% | Research and development expense / revenue. Period ending 2026-06-30. $181.75M ÷ $787.28M × 100 ≈ 23.09% |
| Stock-based compensation / revenue · 12 months | 8.47% | Share-based compensation / revenue. Period ending 2026-06-30. $66.69M ÷ $787.28M × 100 ≈ 8.47% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 181.75M USD | Research and Development Expense |
| Revenue | 787.28M USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 66.69M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 118.91M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $181.75M | $787.28M | $66.69M | $118.91M | (m) | 23.09% | 8.47% | (m) | (m) |
| 2026-03-31 | $182.70M | $790.56M | $68.54M | $123.33M | (m) | 23.11% | 8.67% | (m) | (m) |
| 2025-12-31 | $185.54M | $787.78M | $65.39M | $129.31M | (m) | 23.55% | 8.30% | (m) | (m) |
| 2025-09-30 | $191.98M | $780.86M | $61.67M | $114.60M | (m) | 24.59% | 7.90% | (m) | (m) |
| 2025-06-30 | $194.90M | $772.90M | $60.46M | $105.63M | (m) | 25.22% | 7.82% | (m) | (m) |
| 2025-03-31 | $202.52M | $771.09M | $63.72M | $90.85M | (m) | 26.26% | 8.26% | (m) | (m) |
| 2024-12-31 | $209.28M | $769.33M | $68.39M | $65.21M | (m) | 27.20% | 8.89% | (m) | (m) |
| 2024-09-30 | $202.01M | $761.78M | $72.81M | $60.05M | (m) | 26.52% | 9.56% | (m) | (m) |
| 2024-06-30 | $195.02M | $743.73M | $72.04M | $50.72M | (m) | 26.22% | 9.69% | (m) | (m) |
| 2024-03-31 | $185.80M | $719.22M | $71.24M | $26.83M | (m) | 25.83% | 9.90% | (m) | (m) |
| 2023-12-31 | $177.36M | $689.14M | $74.19M | $-11.26M | (m) | 25.74% | 10.77% | (m) | (m) |
| 2023-09-30 | $172.81M | $666.64M | $75.53M | $-40.17M | $3.65M | 25.92% | 11.33% | -11.02× | Reported |
| 2023-06-30 | $168.29M | $649.55M | $78.12M | $-77.08M | $4.05M | 25.91% | 12.03% | -19.02× | Reported |
| 2023-03-31 | $160.87M | $637.84M | $78.67M | $-94.01M | $4.46M | 25.22% | 12.33% | -21.08× | Reported |
| 2022-12-31 | $154.55M | $618.32M | $75.50M | $-92.62M | $4.48M | 25.00% | 12.21% | -20.66× | Reported |
| 2022-09-30 | $146.36M | $593.73M | $71.05M | $-93.95M | $4.49M | 24.65% | 11.97% | -20.94× | Reported |
| 2022-06-30 | $138.34M | $563.23M | $64.55M | $-76.83M | $4.12M | 24.56% | 11.46% | -18.66× | Reported |
| 2022-03-31 | $130.63M | $530.51M | $59.10M | $-70.17M | $3.11M | 24.62% | 11.14% | -22.59× | Reported |
| 2021-12-31 | $119.08M | $502.80M | $53.59M | $-54.22M | $2.18M | 23.68% | 10.66% | -24.87× | Reported |
| 2021-09-30 | $108.35M | $472.09M | $44.65M | $-31.75M | $1.19M | 22.95% | 9.46% | -26.62× | Reported |
| 2021-06-30 | $98.31M | $440.70M | $37.60M | $-26.46M | $599.00K | 22.31% | 8.53% | -44.18× | Reported |
| 2021-03-31 | $90.74M | $404.05M | $31.20M | $-21.05M | $747.00K | 22.46% | 7.72% | -28.18× | Reported |
| 2020-12-31 | $83.47M | $373.63M | $25.51M | $-22.41M | $778.00K | 22.34% | 6.83% | -28.80× | Reported |
| 2020-09-30 | $77.05M | $347.76M | $27.47M | $-29.94M | $899.00K | 22.16% | 7.90% | -33.30× | Reported |
| 2020-06-30 | $72.43M | $329.03M | $24.54M | $-30.60M | $1.06M | 22.01% | 7.46% | -28.76× | Reported |
| 2020-03-31 | $67.58M | $315.28M | $20.04M | $-22.52M | $1.16M | 21.43% | 6.36% | -19.36× | Reported |
| 2019-12-31 | $64.03M | $300.56M | $18.80M | $-18.73M | $1.31M | 21.30% | 6.25% | -14.34× | Reported |
| 2019-09-30 | $62.51M | $289.31M | $15.55M | $-12.98M | $1.41M | 21.61% | 5.38% | -9.20× | Reported |
| 2019-06-30 | $60.68M | $274.63M | $13.61M | $-13.34M | $1.68M | 22.10% | 4.95% | -7.93× | Reported |
| 2019-03-31 | $57.80M | $263.06M | $12.77M | $-10.54M | $1.88M | 21.97% | 4.85% | -5.60× | Reported |
| 2018-12-31 | $55.49M | $253.35M | $10.36M | $-11.71M | $2.04M | 21.90% | 4.09% | -5.75× | Reported |
| 2018-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2018-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2018-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2017-12-31 | $45.60M | $202.55M | $6.85M | $-3.12M | $960.00K | 22.51% | 3.38% | -3.25× | Reported |
| 2017-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2016-12-31 | $37.90M | $164.44M | $7.27M | $-14.47M | $858.00K | 23.05% | 4.42% | -16.86× | Reported |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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