4.03B
2025 (latest)
UPWORK GROSS SERVICES VOLUME
thousands of US dollars transacted per year · 2016–2025 · higher is better · Upwork Inc., Form 10-K key metrics (SEC EDGAR)
1.15B
2016
4.14B
high · 2023
1.15B
low · 2016
+251%
since 2016
┊ dashed lines mark 2020 COVID-19 pandemic
Method & caveats. Total dollar value of work transacted on Upwork each fiscal year, as printed in its Form 10-K, 2016–2025. The largest US freelance marketplace's own measure of demand for freelance work; GSV peaked in 2023 (4.14B) and was 4.03B in 2025 and Upwork's Q2 2026 10-Q attributes its decline to "the evolving impact of AI on certain categories of freelance work" and macroeconomic uncertainty — management's attribution, not ours. The FY2025 10-K widened the definition to include AI-based services, Connects purchases, payment processing, memberships, and currency services without restating prior years.
Sources
Every value on this page is read from the publisher below. Current and historical source documents:
- https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1627475&type=10-K
- https://www.sec.gov/Archives/edgar/data/1627475/000162747526000012/upwk-20251231.htm
- https://github.com/danielmiessler/substrate/tree/main/Data/US-Employment-And-Jobs
Data
| Year | Upwork Gross Services Volume | Change |
|---|---|---|
| 2025 | 4.03B | +1% |
| 2024 | 4.01B | −3% |
| 2023 | 4.14B | +1% |
| 2022 | 4.10B | +16% |
| 2021 | 3.55B | +41% |
| 2020 | 2.52B | +21% |
| 2019 | 2.09B | +19% |
| 2018 | 1.76B | +28% |
| 2017 | 1.37B | +20% |
| 2016 | 1.15B | — |
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