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

Upwork Q2 revenue falls 2% to $191.7 million; GAAP net income down 22%

Negative Impact 3 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyUpwork (UPWK)
Form8-K, current report
Filed with the SECAug 10, 2026, 4:45 PM ET
Accession number0001627475-26-000046

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits 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 August 10, 2026.

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.