Upwork backs FY25 adjusted EPS view $1.14-$1.18, consensus $1.16

Raises FY25 revenue view to $765M-$775M from $740M-$760M, consensus $755.16M. Raises FY25 adjusted EBITDA view to $206M-$214M from $190M-$200M. “Our record revenue of $194.9 million, net income of $32.7 million, and adjusted EBITDA of $57.1 million-representing a 16.8% profit margin and an all-time high 29.3% adjusted EBITDA margin-came in well above our expectations for the second quarter,” said Erica Gessert, CFO, Upwork (UPWK). “With encouraging growth signals from key product and platform enhancements and continued rigorous cost discipline, we are raising our full-year guidance for both revenue and adjusted EBITDA. We have proven our ability to grow revenue while increasing profitability, and we reiterate our long-term 35% adjusted EBITDA margin target.”