UPWK · Upwork, Inc
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 10, 2026TL;DR. Upwork cut its full-year 2026 revenue guidance to $730–750M and adjusted EBITDA to $225–235M as AI-related automation and SEO headwinds accelerated, though Q2 revenue of $191.7M and adjusted EBITDA of $64.1M (33% margin) still beat guidance, with record GSV per active client and 174% Business Plus growth.
- + GSV per active client reached a record $5,230, up 5% YoY, marking the eighth consecutive quarter of sequential growth
- + Business Plus GSV grew 174% YoY as Upwork's higher-value SMB offering continues to outpace plans
- + Take rate expanded to 19.8% on strength in monetization levers (ads, connects, Business Plus, dynamic pricing), up 15% YoY
- + Launched Upwork MCP server and embedded the marketplace in ChatGPT and Claude to enable agentic hiring
- − Q2 revenue fell 2% YoY to $191.7M and GSV fell 4% to $966M as AI automation eroded lower-complexity work
- − Active clients declined 4% YoY to 763,000 amid AI automation, search trends and a strategy prioritizing value over volume
- − Google SEO changes dampened new client acquisition with continued deterioration expected into Q3 and Q4
- − Q2 GAAP net income fell 22% YoY to $25.4M and free cash flow dropped 45% YoY to $35.9M, partly due to restructuring cash payments
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | 121.48M | Six Months Ended June 30, 2026 | — |
| 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 | — |
| Free cash flow non-GAAP | 48.84M | Six Months Ended June 30, 2026 | — |
| GSV | $966.4M | Q2 2026 | — |
| GSV per active client | $5,230 | Q2 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
Versus peers
Internet Content & Information — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
UPWK
this stock
Upwork, Inc
|
$1.02B | -58.8% | +2.4% | 10.6 | 14.3% |
|
GOOGL
Alphabet Inc.
|
$4.21T | +9.9% | +15.1% | 17.3 | 0.7% |
|
META
Meta Platforms, Inc.
|
$1.91T | +9.9% | +47.1% | 28.3 | 1.2% |
|
SPOT
Spotify Technology S.A.
|
$104.87B | -16.1% | — | — | 2.2% |
|
NBIS
Nebius Group N.V.
|
$60.26B | +181.8% | +479.0% | — | 18.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| UPWK | -0.2% | -11.2% | -21.8% | -9.6% | -58.8% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | +0.4% | -11.3% | -34.0% | -9.1% | -70.7% |
Capital returns
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.