---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-25-000031"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2025-05-05T23:59:59+00:00"
generated_at: "2026-05-22T17:36:52.194017+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Upwork Q1 revenue $192.7M, net income doubles; raises FY adjusted EBITDA guidance

## Summary
- Q1 rev $192.7M (+1% YoY); GAAP net income $37.7M ($0.27 EPS) doubled from $18.4M ($0.13) YoY.
- Adj EBITDA $56.0M (29% margin) vs $33.3M; free cash flow $30.8M vs $12.1M.
- Active clients 812k; GSV/client $4,912 up 3% YoY, first positive growth in six quarters.
- AI-related GSV +25% YoY; Uma AI engagement +52% QoQ; Ads monetization rev +23% YoY.
- FY rev guidance reiterated $740-760M; FY adj EBITDA guidance raised to $190-200M.

## SEC filing metadata
- accession: 0001627475-25-000031
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2025-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747525000031/0001627475-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747525000031/upwork-20250505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-25-000031
- JSON: https://secwatch.observer/filing/0001627475-25-000031.json
- Plain text: https://secwatch.observer/filing/0001627475-25-000031.txt

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