Nov 2, 4:11 PM ET
Upwork reported third-quarter 2026 revenue of $185.6 million, down from $201.7 million a year earlier, while GAAP net income rose to $31.8 million and diluted EPS rose to $0.25 from $0.21. Free cash flow fell to $53.9 million from $69.4 million. CFO Erica Gessert will step down effective January 1, 2027, and Chief Business Officer Peter Sanborn was named her successor.
- Third-quarter revenue was $185.6 million versus $201.7 million; GSV was $914.1 million versus $1,016.7 million.
- GAAP net income was $31.8 million versus $29.3 million; diluted EPS was $0.25 versus $0.21.
- Fourth-quarter 2026 revenue guidance is $169 million to $177 million; full-year 2026 guidance is $742 million to $750 million.
- Erica Gessert resigns as CFO effective January 1, 2027, and will advise through March 31, 2027; Peter Sanborn, 43, will become CFO, and his compensation terms have not yet been determined.
Read the filing on SEC.gov ↗
Aug 10, 4:45 PM ET
Upwork reported second-quarter 2026 revenue of $191.7 million, down 2% from a year earlier, and GAAP net income of $25.4 million, down 22%. GAAP diluted EPS was $0.20 versus $0.24, while adjusted EBITDA rose 12% to $64.1 million, and the company issued third-quarter and full-year 2026 revenue guidance that is lower than the second-quarter run rate for the third quarter.
- Revenue was $191.7 million, down 2% from $194.9 million in Q2 2025; GSV fell 4% to $966.4 million.
- GAAP net income was $25.4 million and diluted EPS was $0.20, versus $32.7 million and $0.24 a year earlier.
- Adjusted EBITDA rose 12% to $64.1 million; the company incurred $13.8 million in costs tied to the restructuring announced in May 2026.
- Guidance: Q3 2026 revenue of $176 million to $184 million; full-year 2026 revenue of $730 million to $750 million.
Read the filing on SEC.gov ↗
Jul 16, 4:22 PM ET
Upwork said its Chief Financial Officer and principal financial officer, Erica Gessert, began a temporary medical leave effective July 14, 2026. CEO Hayden Brown will serve as interim principal financial officer during the leave, and the company said she will receive no additional compensation for the role.
- CFO Erica Gessert's temporary medical leave is effective July 14, 2026.
- The company expects Gessert to return to her role during the fourth quarter of 2026.
- CEO Hayden Brown will act as interim principal financial officer during the leave, with no additional pay for the role.
Read the filing on SEC.gov ↗
Jun 23, 4:45 PM ET
Upwork and its domestic subsidiaries entered into a Credit Agreement on June 23, 2026, with Bank of America, N.A. as administrative agent, providing a secured revolving loan of up to $150.0 million. The facility is secured by substantially all company and domestic subsidiary assets and can be increased by up to an additional $50.0 million, and proceeds may be used partly to repurchase or repay certain existing convertible indebtedness.
- Revolving facility of up to $150.0 million, including a $10.0 million sublimit for standby letters of credit
- Optional increase of up to an additional $50.0 million through a revolver increase or new term loans
- Borrowings bear interest at Term SOFR plus 2.00% to 2.50%, or Base Rate plus 1.00% to 1.50%, based on consolidated net leverage
- Facility matures June 23, 2029 and contains customary covenants and events of default
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.