secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0001627475-22-000042
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upwork Q3 revenue up 24% to $158.6M; GAAP net loss $(24.8)M, adj EBITDA loss $(2.9)M
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- Revenue $158.6M (+24% YoY); GSV >$11B (+14% YoY).
- GAAP net loss $(24.8)M; adjusted EBITDA loss $(2.9)M.
- Enterprise Revenue $12.5M (+41% YoY); 25 new Enterprise Clients, below target due to operational/macro headwinds.
- Invested ~$19M in brand marketing in Q3; expects similar in Q4.
- Softness in client acquisition/retention stabilized, more pronounced in Europe and SMBs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747522000042/0001627475-22-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747522000042/upwork-20221026.htm
  HTML page:      https://secwatch.observer/filing/0001627475-22-000042

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