---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-23-000048"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T13:46:23.127434+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Upwork Q2 revenue $168.6M (+7% YoY); raises FY23 adj. EBITDA guidance to $50-55M

## Summary
- Revenue $168.6M (+7% YoY); GAAP net loss ($4.0M) vs ($23.8M) YoY; adj. EBITDA $14.4M vs ($1.9M) YoY.
- Raised FY23 adj. EBITDA guidance to $50-55M from prior; expects improved profitability.
- Enterprise revenue $14.3M (+16% YoY); added 19 new Enterprise Clients including Mastercard, RRD.
- Generative AI job posts up >1000% vs Q4 2022; launched AI Services hub and OpenAI partnership.
- Active Clients ~822,000 (+2% YoY); GSV per active client $4,987 (+2% YoY).

## SEC filing metadata
- accession: 0001627475-23-000048
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000048/0001627475-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000048/upwork-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-23-000048
- JSON: https://secwatch.observer/filing/0001627475-23-000048.json
- Plain text: https://secwatch.observer/filing/0001627475-23-000048.txt

## Key facts
- Earnings Releases
  UPWORK, INC reported second quarter of 2023 results: revenue $168.6 million, net income GAAP net loss of $(4.0) million. Guidance raised.
  - Period: second quarter of 2023
  - Revenue: $168.6 million
  - Net income: GAAP net loss of $(4.0) million
  - Guidance: raised
  - Result: reported results
  source text: second-quarter 2023 revenue of $168.6 million, up 7% from a year ago, and Gross Services Volume (GSV) that again exceeded $1 billion for the quarter. We recorded GAAP net loss of $(4.0) million and adjusted EBITDA of $14.4 million this quarter, compared to GAAP net loss of $(23.8) million and adjusted EBITDA loss of $(1.9) million in the second quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000048/0001627475-23-000048-index.htm

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