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Upwork Inc. expanded its Restructuring Plan, targeting an approximately 37% workforce reduction and approximately $27 million to $37 million in pre-tax restructuring charges. Execution is now expected to be substantially complete in the first quarter of 2027.
Upwork reported third-quarter revenue of $186 million and adjusted EBITDA of $63.8 million, raised its 2026 adjusted EBITDA outlook to $236 to $240 million, and announced the WorkMotion acquisition.
Upwork Inc. reported revenue of $185.6 million for the three months ended September 30, 2026, down 8% from 2025, while adjusted EBITDA rose 7% to $63.8 million and net income reached $31.8 million.
Upwork reported third quarter revenue of $185.6 million, GAAP net income of $31.8 million and adjusted EBITDA of $63.8 million. Erica Gessert will resign as CFO on January 1, 2027, when Peter Sanborn takes over.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Upwork exceeded Q3 revenue and adjusted EBITDA guidance, raised full-year adjusted EBITDA guidance, expanded adjusted EBITDA margin, and reported net-income growth. Business Plus, take rate, AI and MCP adoption, Lifted and WorkMotion, and expected exit-2027 growth showed progress. Offsetting this were year-over-year declines in revenue, GSV, active clients, operating cash flow, free cash flow, and gross margin, with first-half 2027 demand headwinds, expected margin dilution, and a planned CFO transition.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Active clients | 717,000 | Third Quarter 2026 | — |
| active clients on Business Plus | 40% | Q3 2026 | — |
| Adjusted EBITDA non-GAAP | 185.27M | Nine Months Ended September 30, 2026 | — |
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| Free cash flow non-GAAP | 102.7M | Nine Months Ended September 30, 2026 | — |
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| GSV | 914.1M | Third Quarter 2026 | — |
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| GSV from freelancers with AI-skills | 55% | Q3 2026 | — |
| GSV per active client | $5,418 | Third Quarter 2026 | — |
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| Basic earnings per share, Non-GAAP non-GAAP | $0.79 | Six Months Ended June 30, 2026 | — |
| Diluted earnings per share, Non-GAAP non-GAAP | $0.76 | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
UPWK
this stock
Upwork, Inc
|
$1.25B | -49.9% | +2.4% | 12.3 | 14.1% |
|
GOOGL
Alphabet Inc.
|
$3.64T | -5.5% | +15.1% | 15.4 | 0.7% |
|
META
Meta Platforms, Inc.
|
$1.64T | -2.8% | +47.1% | 21.9 | 3.0% |
|
SPOT
Spotify Technology S.A.
|
$125.91B | +5.5% | — | — | 1.5% |
|
NBIS
Nebius Group N.V.
|
$33.94B | +38.4% | +479.0% | — | 17.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Upwork Inc. expanded its Restructuring Plan, targeting an approximately 37% workforce reduction and approximately $27 million to $37 million in pre-tax restructuring charges. Execution is now expected to be substantially complete in the first quarter of 2027.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| UPWK | -1.0% | +17.7% | +15.5% | +8.5% | -49.9% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -3.5% | +18.9% | +15.0% | +8.7% | -60.5% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
