Upwork (UPWK)
NASDAQ:UPWK
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Earnings Data
Report Date
Jul 23, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.32Last Year’s EPS
0.35Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced notable operational and product progress—strong profitability (Q1 adjusted EBITDA beat), meaningful cost reductions, rapid SMB and AI-related growth, and enterprise pipeline gains—against near-term demand softness concentrated in the smallest contracts, a lowered/widened revenue outlook, and a sizable workforce reduction with related one-time costs. Management is confident in longer-term AI and enterprise opportunities and has strengthened profitability guidance despite top-line uncertainty.Company Guidance
Adjusted EBITDA Beat and Strong Profitability
Reported a $10 million adjusted EBITDA beat for Q1; raised full-year 2026 adjusted EBITDA guidance to $250M–$260M (approx. 33% margin) and now expect to reach the 35% adjusted EBITDA margin target in the back half of 2026 (more than 2 years ahead of schedule). Q2 adjusted EBITDA guide of $56M–$59M (30%–31% margin).
Cost Reduction Program Delivering Savings
Announced restructuring to reduce annualized operating expenses by an estimated $70M and deliver approximately $40M of savings in 2026; expects one-time charges of $16M–$23M (majority recognized this quarter).
SMB Product (Business+) Rapid Growth
Business+ is the fastest-growing product in company history with GSV growth of 34% quarter-over-quarter, expanding Upwork's reach into the SMB market opportunity (~$530B).
AI-Related Work Showing Robust Growth
AI-related work annualized GSV exceeded $300M and grew >40% year-over-year; AI-related jobs comprised ~8% of marketplace GSV in Q1 and ~11% of job posts, indicating leading-edge demand that is accelerating supply/demand mix.
Enterprise Momentum and Lifted Product Progress
Enterprise pipeline expanded meaningfully in the quarter (3x growth for new clients and 9x for existing clients); Lifted product on track with customer migrations starting in June and management maintaining a previously-stated ~25% GSV growth outlook for Lifted.
Marketplace Take Rate and Capital Flexibility
Marketplace take rate reported at 19.4%; company emphasizes ample cash position with flexibility to pay down debt, pursue M&A, or return capital to shareholders.
Focused Product Execution on AI Agents and Data
Launched multiple AI features (Upwork app in ChatGPT, Ooma enhancements, human-supervised agent beta) and is exploring an AI data opportunity leveraging ~3M job posts/year; human-supervised agents receiving positive feedback and slated for roll out this year.
UPWK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UPWK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $10.61 | $8.82 | -16.87% |
Feb 09, 2026 | $18.79 | $15.21 | -19.08% |
Nov 03, 2025 | $15.63 | $17.70 | +13.24% |
Aug 06, 2025 | $11.95 | $13.58 | +13.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Upwork (UPWK) report earnings?
Upwork (UPWK) is schdueled to report earning on Jul 23, 2026, After Close (Confirmed).
What is Upwork (UPWK) earnings time?
Upwork (UPWK) earnings time is at Jul 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UPWK EPS forecast?
UPWK EPS forecast for the fiscal quarter 2026 (Q2) is 0.32.
