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Take Rate
Indicates the percentage of transaction value Upwork retains as revenue, reflecting pricing strategy and operational efficiency.Upwork’s take rate has climbed from the low‑teens into the high‑teens (~19% by Q4 2025), reflecting stronger monetization from Business Plus, AI improvements, and a shift to higher‑value mix that supported record revenue and margins despite flat GSV. That improvement isn’t purely structural: sustaining it requires continued Business Plus adoption and a successful enterprise (Lyfted) ramp; integration costs, secular weakness in low‑value categories, and backloaded growth create execution risk, so future upside depends on mix shifts and execution rather than broad GSV expansion.
Date | Take Rate |
|---|---|
Jun 30, 2026 | 19.60 |
Mar 31, 2026 | 19.40 |
Dec 31, 2025 | 19.40 |
Sep 30, 2025 | 18.90 |
Jun 30, 2025 | 18.50 |
Mar 31, 2025 | 18.30 |
Dec 31, 2024 | 19.30 |
Sep 30, 2024 | 18.30 |
Jun 30, 2024 | 19.15 |
Mar 31, 2024 | 17.70 |