Upwork Q4 revenue slightly beats estimates

Upwork

09/02/2026 21:11

Overview

Human and AI-powered work marketplace's Q4 revenue slightly beat analyst expectations

Adjusted EBITDA for Q4 beat analyst estimates

Company repurchased $136 mln worth of shares in 2025

Outlook

Upwork expects 2026 revenue between $835 mln and $850 mln

Company projects Q1 2026 revenue between $192 mln and $197 mln

Upwork anticipates 6% to 8% revenue growth in 2026

Result Drivers

AI INTEGRATION - GSV from AI Integration & Automation work grew more than 90% year over year in Q4 2025

AI WORK GROWTH - GSV from AI-related work surpassed $300 mln on an annualized basis in Q4 2025, up more than 50% from the prior year

SMB CLIENT GROWTH - Q4 2025 GSV from Upwork Business Plus offering for SMBs increased 24% quarter over quarter

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Slight Beat*
$198.40 mln
$197.52 mln (11 Analysts)
Q4 Adjusted EPS
$0.36
Q4 Net Income
$15.60 mln
Q4 Adjusted EBITDA
Beat
$52.90 mln
$51.62 mln (11 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the employment services peer group is "buy"

Wall Street's median 12-month price target for Upwork Inc is $24.50, about 29.4% above its February 6 closing price of $18.93

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX97x0CL

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)