| Stage | UPWK | % of rev | YELP | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $186M | 100.00% | $376M | 100.00% | YELP ×2.02 |
| Gross profit | $141M | 76.13% | $334M | 88.88% | YELP +12.7pp |
| Operating income | $35M | 18.64% | $44M | 11.65% | UPWK +7.0pp |
| Pre-tax income | $39M | 20.77% | $44M | 11.84% | UPWK +8.9pp |
| Net income | $32M | 17.14% | $32M | 8.43% | UPWK +8.7pp |
| Stage | UPWK | YELP | Gap · A − B |
|---|---|---|---|
| Revenue | $186M100.00% | $376M100.00% | YELP ×2.02 |
| Gross profit | 76.13%$141M | 88.88%$334M | YELP +12.7pp |
| Operating income | 18.64%$35M | 11.65%$44M | UPWK +7.0pp |
| Pre-tax income | 20.77%$39M | 11.84%$44M | UPWK +8.9pp |
| Net income |
| 17.14%$32M |
| 8.43%$32M |
| UPWK +8.7pp |
UPWK 10-KFeb 13 '26
“Our mobile applications rely on third-party open application store platforms, including the Apple App Store and Google Play, which may change their policies, impose additional fees or requirements to support our applications, or stop supporting our applications altogether.”
YELP 10-KFeb 27 '26
“For example, we have historically benefited from the integration of our content into Apple Maps driving a significant amount of traffic to our website and downloads of our application.”
UPWK 10-KFeb 13 '26
“Our mobile applications rely on third-party open application store platforms, including the Apple App Store and Google Play, which may change their policies, impose additional fees or requirements to support our applications, or stop supporting our applications altogether.”
YELP 10-KFeb 27 '26
“Because Google in particular is the most significant source of traffic to our website, our success depends on our ability to maintain a prominent presence in search results for queries regarding local businesses on Google.”
UPWK 10-KFeb 13 '26
“For example, we currently host the Upwork Marketplace, serve its customers, and support its operations using AWS, a provider of cloud infrastructure services.”
YELP 10-KFeb 27 '26
“The vast majority of our platform is currently hosted by Amazon Web Services ("AWS") from multiple locations, which allows us to scale our infrastructure dynamically according to demand as well as optimize the cost and performance of our infrastructure.”