---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-23-000055"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T15:34:44.586554+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Upwork Q3 GAAP net income $16.3M vs loss; raises FY2023 guidance; authorizes $100M buyback

## Summary
- Revenue $175.7M, +11% YoY; GAAP net income $16.3M ($0.12 EPS) vs ($24.8M) loss prior year.
- Adjusted EBITDA $31.2M vs ($2.9M) loss; margin 18% vs (2%) a year ago.
- Raised FY2023 revenue guidance to $680-685M and adjusted EBITDA to $67-71M.
- Board authorized $100M share repurchase program with no expiration date.
- Marketplace take rate 15.9% (up from 14.3%); added 23 new Enterprise clients in Q3.

## SEC filing metadata
- accession: 0001627475-23-000055
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000055/0001627475-23-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000055/upwork-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-23-000055
- JSON: https://secwatch.observer/filing/0001627475-23-000055.json
- Plain text: https://secwatch.observer/filing/0001627475-23-000055.txt

## Key facts
- Earnings Releases
  UPWORK, INC reported quarter ended September 30, 2023 results: revenue $175.7 million, net income $16.3 million. Guidance raised.
  - Period: quarter ended September 30, 2023
  - Revenue: $175.7 million
  - Net income: $16.3 million
  - Guidance: raised
  - Result: reported results
  source text: We achieved better-than-expected results across our financial goals, generating third-quarter 2023 revenue of $175.7 million, up 11% from a year ago. We recorded GAAP net income of $16.3 million and adjusted EBITDA of $31.2 million this quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000055/0001627475-23-000055-index.htm

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