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

Upwork Q4 revenue rises 4% to $198.4 million; GAAP net income falls to $15.6 million

Mixed Impact 3 of 5 earnings Written later

Upwork reported fourth-quarter 2025 revenue of $198.4 million, up 4% year over year, and full-year 2025 revenue of $787.8 million, up 2%. GAAP net income fell sharply in both periods, to $15.6 million for the quarter and $115.4 million for the year, because 2024 results included a $140.3 million non-cash tax benefit. The company guided to 2026 revenue of $835 million to $850 million.

Key points

  • Q4 2025 revenue was $198.4 million, up 4% year over year; GAAP net income was $15.6 million versus $147.2 million in Q4 2024.
  • Full-year 2025 revenue was $787.8 million, up 2%; GAAP net income was $115.4 million versus $215.6 million in 2024.
  • 2026 guidance: revenue of $835 million to $850 million and adjusted EBITDA of $240 million to $250 million; Q1 2026 revenue guidance is $192 million to $197 million.
  • On February 3, 2026, the board adopted amended and restated bylaws with a cure process for defective stockholder director nomination notices.

The filing

CompanyUpwork (UPWK)
Form8-K, current report
Filed with the SECFeb 9, 2026, 4:06 PM ET
Accession number0001627475-26-000005

Items reported: 2.02 Results of Operations5.03 Bylaw / Charter Amendment

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 09, 2026.

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.