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AI brief of an SEC Form 8-K · Upwork (UPWK)

Upwork Q4 revenue up 4% to $191.5 million; 2025 revenue guidance below 2024

Mixed Impact 3 of 5 earnings Written later

Upwork reported fourth-quarter 2024 revenue of $191.5 million, up 4% year over year, and full-year revenue of $769.3 million, up 12%. Fourth-quarter GAAP net income of $147.2 million included a non-cash tax benefit of $140.3 million, and the company guided full-year 2025 revenue to $740 million to $760 million, below 2024 revenue.

Key points

  • Q4 2024 revenue $191.5 million, up 4% year over year; full-year 2024 revenue $769.3 million, up 12%
  • Q4 2024 GAAP net income $147.2 million, including a $140.3 million non-cash tax benefit; diluted EPS $1.03 versus $0.13 a year earlier
  • Q4 2024 adjusted EBITDA $50.2 million, a 26% margin; full-year 2024 adjusted EBITDA $167.6 million
  • 2025 guidance: revenue $740 million to $760 million and adjusted EBITDA $180 million to $190 million; Q1 2025 revenue $186 million to $191 million

The filing

CompanyUpwork (UPWK)
Form8-K, current report
Filed with the SECFeb 12, 2025, 4:12 PM ET
Accession number0001627475-25-000005

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 12, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.