Upwork Q4 revenue $198.4M, record FY 2025 rev $787.8M; guides 6-8% rev growth 2026

UPWORK, INC

2025-FY EPS reported $0.84 revenue$787,784,000

Q4 2025 revenue $198.4M (+4% YoY); GAAP net income $15.6M; adjusted EBITDA $52.9M (27% margin).
Full-year 2025 revenue $787.8M (+2% YoY); GAAP net income $115.4M; adjusted EBITDA $225.6M (29% margin).
Active clients 785k as of Dec 31, 2025; GSV per active client $5,129 (+7% YoY).
2026 guidance: 4-6% GSV growth and 6-8% revenue growth; expects accelerating growth.

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