---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-24-000005"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2024-02-14T23:59:59+00:00"
generated_at: "2026-06-06T02:23:57.899005+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Upwork Q4 net income $17.4M vs loss; guides FY24 revenue $760-780M

## Summary
- GAAP net income $17.4M ($0.13 diluted EPS) vs loss of $16.5M in Q4 2022.
- Revenue $183.9M (+14% YoY); full-year revenue $689.1M (+11% YoY).
- Adjusted EBITDA $30.5M (17% margin) vs $1.1M; FY23 Adj. EBITDA $73.1M.
- Acquired AI startup Headroom; named Andrew Rabinovich as head of AI/ML.
- Active clients 851k (+5% YoY record); Q1'24 rev guidance $183-188M, FY'24 $760-780M.

## SEC filing metadata
- accession: 0001627475-24-000005
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2024-02-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747524000005/0001627475-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747524000005/upwork-20240214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-24-000005
- JSON: https://secwatch.observer/filing/0001627475-24-000005.json
- Plain text: https://secwatch.observer/filing/0001627475-24-000005.txt

## Key facts
- Earnings Releases
  UPWORK, INC reported the fourth quarter and full year of 2023 results: revenue $183.9 million, net income $17.4 million, EPS $0.13. Guidance initiated.
  - Period: the fourth quarter and full year of 2023
  - Revenue: $183.9 million
  - Net income: $17.4 million
  - EPS: $0.13
  - Guidance: initiated
  - Result: reported results
  source text: continue to produce growing profit margins and free cash flow each year going forward.” Fourth Quarter & Full Year 2023 Financial Highlights • Revenue grew 14% year-over-year to $183.9 million in the fourth quarter • Revenue grew 11% year-over-year to $689.1 million for full year 2023 • Active clients grew 5% year-over-year to 851,000 at the end of 2023, an all-time
  evidence_url: https://www.sec.gov/Archives/edgar/data/1627475/000162747524000005/0001627475-24-000005-index.htm
- Earnings Releases
  UPWORK, INC reported full year 2023 results: revenue $689.1 million, net income $46.9 million, EPS $0.06.
  - Period: full year 2023
  - Revenue: $689.1 million
  - Net income: $46.9 million
  - EPS: $0.06
  - Result: reported results
  source text: Revenue grew 11% year-over-year to $689.1 million for full year 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1627475/000162747524000005/0001627475-24-000005-index.htm

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