secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2025-02-12T23:59:59+00:00
Accession:  0001627475-25-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000005/0001627475-25-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000005/upwork-20250212.htm
  HTML page:      https://secwatch.observer/filing/0001627475-25-000005

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