secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001627475-24-000020
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747524000020/0001627475-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747524000020/upwork-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001627475-24-000020

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