---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-23-000004"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T11:28:17.819989+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Upwork Q4 revenue $161.4M (+18% YoY); FY22 revenue $618M (+23%); guides to 2023 adjusted EBITDA profitability

## Summary
- Q4 revenue $161.4M (+18% YoY); GAAP net loss $(16.5)M; adjusted EBITDA $1.1M.
- Full-year revenue $618M (+23% YoY); GAAP net loss $(89.9)M; adjusted EBITDA $(4)M.
- GSV grew 5% YoY in Q4 to over $1B; full-year GSV $4.1B (+16% YoY).
- Brand marketing spend to be ~$70M in 2023, down from ~$80M in 2022; Q4 brand spend $19M.
- Launches full-time hiring solution; sees macro headwinds but targets adjusted EBITDA profitability in 2023.

## SEC filing metadata
- accession: 0001627475-23-000004
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000004/0001627475-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000004/upwork-20230215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-23-000004
- JSON: https://secwatch.observer/filing/0001627475-23-000004.json
- Plain text: https://secwatch.observer/filing/0001627475-23-000004.txt

## Key facts
- Earnings Releases
  UPWORK, INC reported financial results for the quarter and year ended December 31, 2022.
  - Period: the quarter and year ended December 31, 2022
  - Result: reported results
  source text: On February 15, 2023, Upwork Inc., or the Company, will hold a conference call regarding its financial results for the quarter and year ended December 31, 2022. The Company issued a shareholder letter announcing its financial results for the quarter and year ended December 31, 2022. The full text of the shareholder letter is attached as Exhibit 99.1 to this report.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000004/0001627475-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.