secwatch.observer — SEC 8-K summary
======================================

Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2026-02-09T23:59:59+00:00
Accession:  0001627475-26-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747526000005/0001627475-26-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747526000005/upwork-20260203.htm
  HTML page:      https://secwatch.observer/filing/0001627475-26-000005

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