Enterprise revenue is the part of Upwork Inc.'s GAAP revenue earned from its Enterprise offering, including Enterprise client fees, managed-services contracts and Upwork Payroll, reported separately from marketplace revenue.
Upwork Inc. splits revenue into Marketplace and Enterprise in every quarterly earnings release and in the revenue note of the Form 10-Q and 10-K. Both are GAAP and together make up total revenue, so Enterprise revenue can be read directly from the release or taken as the difference between the total and marketplace revenue. Into the Enterprise line go the fees Enterprise clients pay for the platform, compliance and programme management, managed services in which Upwork delivers the work and is paid for the whole engagement, and Upwork Payroll. Upwork recast the two lines from its annual report for 2023, so earlier quarters are only comparable when taken from a later filing that restates them.
The line behaves differently from the marketplace. Where marketplace revenue is a thin fee on a large volume, Enterprise revenue includes the value of contracts Upwork is responsible for delivering, so each dollar carries more cost and a lower gross margin, and the line can move with a few large customers rather than with the marketplace as a whole. It is also the part of Upwork least visible from the outside: Enterprise clients hire from private talent clouds, and nothing about their spend appears on public profiles beyond the earnings it adds to the freelancers and agencies they use.
It is the smaller of the two lines. The Pulse page shows both together so the share, and its direction, can be read each quarter.
How Upwork Insights uses it
The Pulse page table carries Enterprise revenue for every quarter beside Marketplace revenue and the GAAP total, $185.6M in Q3 2026; where a 10-Q table gives only the marketplace line, the Enterprise figure is the total less marketplace. Method in methodology, section 4.