secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0001627475-25-000055
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upwork Q3 revenue hits record $201.7M; raises FY2025 guidance
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- Record Q3 revenue of $201.7M (+4% YoY); GAAP net income $29.3M ($0.21 diluted EPS).
- Adjusted EBITDA all-time high of $59.6M (30% margin), up 38% YoY.
- Raised FY2025 revenue guidance to $782-787M and adjusted EBITDA to $222-225M.
- AI-related GSV accelerated to 53% YoY growth; clients engaging in AI projects up 45% YoY.
- Active clients 794k (-7% YoY); GSV per client up 5% to $5,036.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000055/0001627475-25-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747525000055/upwork-20251103.htm
  HTML page:      https://secwatch.observer/filing/0001627475-25-000055

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