Upwork Q1 2024 revenue $190.9M (+19% YoY); GAAP net income $18.4M; raises FY2024 guidance

UPWORK, INC

2024-Q1 EPS reported $0.13 revenue$190,937,000

Revenue $190.9M (+19% YoY); GAAP diluted EPS $0.13 (vs. $(0.15) loss); net income $18.4M.
Adjusted EBITDA $33.3M (vs. $(2.9)M loss); raises 2024 revenue and adjusted EBITDA outlook.
Active clients 872,000 (+5% YoY); marketplace take rate 17.7% (vs. 14.7%); strong client engagement.
Repurchased 5.2M shares; set 5-year target of 35% adjusted EBITDA margin.

item 2.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UPWORK, INC reported the first quarter of 2024 results: revenue $190.9 million, net income $18.4 million, EPS $0.13. Guidance raised.

Period: the first quarter of 2024
Revenue: $190.9 million
Net income: $18.4 million
EPS: $0.13
Guidance: raised
Result: reported results

Exact text from the filing

adjusted EBITDA margins within the next five years, while continuing to invest in key growth drivers.” First Quarter Financial Highlights • Revenue grew 19% year-over-year to $190.9 million in the first quarter of 2024 • Marketplace take rate was 17.7% in the first quarter of 2024 , compared to 14.7% in the first quarter of 2023 • Active clients grew 5%

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

UPWORK, INC: Modified the definition of 'Acting in Concert' in the amended and restated bylaws (effective 2024-04-25).

Change: bylaw amendment
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, the Company's board of directors adopted amended and restated bylaws, or the Amended and Restated Bylaws, effective immediately, to modify the definition of "Acting in Concert" contained therein.

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379 earnings releases filed in the last 30 days. Browse all earnings releases →

UPWORK, INC filing history →

Source: SEC EDGAR

accession 0001627475-24-000020

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