Upwork Q1 2025 net income more than doubles to $37.7 million; EBITDA guidance raised
Upwork reported first-quarter 2025 revenue of $192.7 million, up 1% from a year earlier, and net income of $37.7 million, more than double the $18.4 million reported in the first quarter of 2024. The company reiterated its full-year 2025 revenue guidance of $740 million to $760 million and raised its full-year adjusted EBITDA guidance to $190 million to $200 million, which matters to shareholders because profit is growing faster than revenue.
Key points
- Revenue was $192.7 million, up 1% from $190.9 million in Q1 2024.
- Net income was $37.7 million, or $0.27 per diluted share, versus $18.4 million, or $0.13 per diluted share, a year earlier.
- Adjusted EBITDA was $56.0 million, compared with $33.3 million in Q1 2024.
- Full-year 2025 adjusted EBITDA guidance is $190 million to $200 million; Q2 2025 revenue guidance is $184 million to $189 million.
The filing
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 May 05, 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.