UPWORK INC. (UPWK) FY2026 Q2 Statement of Cash Flows
2026-04-01 to 2026-06-30
Statement of Cash Flows
2026-04-01 to 2026-06-30
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Chart details
UPWORK INC. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026
Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Mar 31, 2026
- 535,885,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- 46,874,000 US dollars. Net cash provided.
- Prepaid expenses and other assets
- negative 2,155,000 US dollars
- Operating lease liability
- negative 531,000 US dollars
- Provision for transaction losses
- 2,171,000 US dollars
- Accrued expenses and other liabilities
- 1,402,000 US dollars
- Deferred revenue
- 376,000 US dollars
- Amortization of debt issuance costs
- 461,000 US dollars
- Net income
- 25,404,000 US dollars
- Stock-based compensation expense
- 14,123,000 US dollars
- Accretion of discount on purchases of marketable securities, net
- negative 929,000 US dollars
- Amortization of operating lease asset
- 439,000 US dollars
- Depreciation and amortization
- 8,780,000 US dollars
- Accounts payable
- negative 3,969,000 US dollars
- Tides Foundation common stock warrant expense
- 187,000 US dollars
- Trade and client receivables
- negative 605,000 US dollars
- Deferred taxes
- 1,542,000 US dollars
- Loss on disposal of fixed assets
- 178,000 US dollars
- Investing activities
- 102,945,000 US dollars. Net cash provided.
- Purchases of marketable securities
- 0 US dollars
- Proceeds from maturities of marketable securities
- 111,895,000 US dollars
- Proceeds from sale of marketable securities
- 1,986,000 US dollars
- Purchases of property and equipment
- negative 1,618,000 US dollars
- Internal-use software and platform development costs
- negative 9,318,000 US dollars
- Acquisition of business, net of cash acquired
- 0 US dollars
- Financing activities
- negative 12,595,000 US dollars. Net cash used.
- Change in escrow funds payable, net
- negative 11,870,000 US dollars
- Proceeds from exercises of stock options and common stock warrants
- 686,000 US dollars
- Proceeds from employee stock purchase plan
- 1,646,000 US dollars
- Repurchase of common stock
- negative 1,834,000 US dollars
- Payment of debt issuance costs
- negative 1,223,000 US dollars
- Operating adjustment reconciliation
- 29,659,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 14,927,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 113,881,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- 0 US dollars
- Ending cash on Jun 30, 2026
- 673,109,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 685,704,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- 137,224,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- 1.85×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- Operating cash flow
- 46,874,000 US dollars. Operating cash flow used in the free cash flow calculation.
- Cash purchases of property, plant and equipment
- 1,618,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- 45,256,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $21.47M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 46,874,000 US dollars minus 1,618,000 US dollars equals 45,256,000 US dollars.
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