secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001627475-23-000048
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000048/0001627475-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000048/upwork-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001627475-23-000048

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