---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-25-000005"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2025-02-12T23:59:59+00:00"
generated_at: "2026-05-26T22:54:16.641470+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Upwork Q4 revenue $191.5M (+4% YoY); adjusted EBITDA record $50.2M at 26% margin

## Summary
- GAAP net income $147.2M includes $140.3M non-cash tax benefit; diluted EPS $1.03.
- Full-year 2024 revenue $769.3M (+12% YoY); GAAP net income $215.6M; diluted EPS $1.52.
- Adjusted EBITDA $50.2M in Q4 (+65% YoY, 26% margin); full year adj. EBITDA $167.6M.
- Active clients 832k; GSV per active client $4,815 (+1% QoQ), second straight sequential gain.
- Management targets 35% adjusted EBITDA margin; expects rising profitability and FCF each year.

## SEC filing metadata
- accession: 0001627475-25-000005
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2025-02-12T23:59:59+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/1627475/000162747525000005/0001627475-25-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747525000005/upwork-20250212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-25-000005
- JSON: https://secwatch.observer/filing/0001627475-25-000005.json
- Plain text: https://secwatch.observer/filing/0001627475-25-000005.txt

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