secwatch.observer — SEC 8-K summary
======================================

Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2021-07-29T23:59:59+00:00
Accession:  0001627475-21-000030
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upwork Q2 2021: Revenue $124.2M (+42% YoY), GSV $875.8M (+50%), positive adjusted EBITDA $7.3M
--------------------------------------------------------------------------------

- Revenue grew 42% YoY to $124.2M; Marketplace revenue up 46% to $114.5M.
- GSV increased 50% YoY to $875.8M; Active Clients up 27% YoY.
- Net loss of $16.5M ($0.13/share) vs $11.0M loss a year ago; non-GAAP net income of $4.6M ($0.03/diluted share).
- Adjusted EBITDA positive at $7.3M vs loss of $1.2M in Q2 2020.
- Gross margin improved two points to 73%; marketplace take rate 13.2% vs 13.7% prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747521000030/0001627475-21-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747521000030/upwork-20210729.htm
  HTML page:      https://secwatch.observer/filing/0001627475-21-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer