secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001627475-23-000055
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000055/0001627475-23-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000055/upwork-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001627475-23-000055

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