Upwork suspends Russia/Belarus operations, withdraws 2022 guidance due to Ukraine war impact

UPWORK, INC

Suspends new business in Russia/Belarus; existing contracts end by May 1, 2022.
Withdraws Q1 and full-year 2022 guidance citing uncertainties from the invasion.
~10% of 2021 revenue ($6% Ukraine, 4% Russia/Belarus) derived from region; activity already dropping.
~10% of team members in Ukraine, Russia, Belarus; ~1/3 of engineering team affected.
Incurred/uncommitted millions in extra expenses, including $1M donation to Direct Relief.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.