secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K/A
Filed at:   2025-08-07T23:59:59+00:00
Accession:  0001627475-25-000048
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upwork Q2 revenue $194.9M, net income $32.7M, raises FY2025 guidance, acquires Bubty and Ascen
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- Q2 revenue $194.9M (+1% YoY), net income $32.7M (+47% YoY), adjusted EBITDA $57.1M (+40% YoY).
- Raises FY2025 revenue guidance to $765M-$775M and adjusted EBITDA to $206M-$214M; Q3 non-GAAP diluted EPS guidance $0.28-$0.30.
- Active clients 796K, GSV per active client up 5% YoY to $5,002; average hours per contract highest ever.
- Acquires Bubty and agrees to acquire Ascen to enhance enterprise contingent workforce solutions, targeting $650B TAM.
- AI-related GSV accelerated to 30% YoY growth in Q2; Uma™ adoption up 24% QoQ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000048/0001627475-25-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000048/upwork-20250806.htm
  HTML page:      https://secwatch.observer/filing/0001627475-25-000048

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