secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0001627475-25-000031
Event type: earnings
Sentiment:  positive
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000031/0001627475-25-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000031/upwork-20250505.htm
  HTML page:      https://secwatch.observer/filing/0001627475-25-000031

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