Quarterly ResultAug 10, 2026, 04:57 PM
Upwork Q2 Revenue $191.7M, Net Income $25.4M
AI Summary
Upwork reported mixed financial results for Q2 2026, with revenue decreasing 2% to $191.7 million and GAAP net income falling 22% to $25.4 million. However, adjusted EBITDA increased 12% to $64.1 million, and GSV per active client reached a record $5,230. The company highlighted strong growth in AI-related work and its Business Plus offering, while also providing guidance for Q3 and full-year 2026.
Key Highlights
- Q2 2026 revenue decreased 2% year-over-year to $191.7 million.
- Q2 2026 GAAP net income decreased 22% year-over-year to $25.4 million.
- Q2 2026 adjusted EBITDA increased 12% year-over-year to $64.1 million.
- GSV decreased 4% year-over-year to $966.4 million; active clients decreased 4% to 763,000.
- GSV per active client increased 5% year-over-year to a record $5,230.
- AI-related work GSV grew over 22% year-over-year in Q2 2026.
- Returned $109.7 million to shareholders through share repurchases in H1 2026.
- Forecasts Q3 2026 revenue of $176M-$184M and FY 2026 revenue of $730M-$750M.
Price Impact
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