---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-24-000032"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2024-08-07T23:59:59+00:00"
generated_at: "2026-05-31T11:47:22.309978+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Upwork reports record Q2 net income of $22.2M; revenue up 15% YoY to $193.1M

## Summary
- GAAP net income $22.2M (highest ever) vs net loss of $(4.0)M in Q2 2023; diluted EPS $0.17 vs $(0.03).
- Revenue grew 15% YoY to $193.1M; active clients rose 6% to over 868,000.
- Adjusted EBITDA $40.8M (21% margin), up from $14.4M in Q2 2023; free cash flow $33.5M.
- Repurchased 2.9M shares for $33.1M, nearly 100% of quarterly free cash flow.
- CFO targets 35% adjusted EBITDA margin within five years.

## SEC filing metadata
- accession: 0001627475-24-000032
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2024-08-07T23:59:59+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/1627475/000162747524000032/0001627475-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747524000032/upwork-20240807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-24-000032
- JSON: https://secwatch.observer/filing/0001627475-24-000032.json
- Plain text: https://secwatch.observer/filing/0001627475-24-000032.txt

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