Upwork Q1 2026 net income falls 17% to $31.5 million; revenue rises 1% to $195.5 million

Upwork

Upwork

UPWK

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  • Upwork reported Q1 2026 net income of USD 31.5 million, down 17%, as revenue rose 1% to USD 195.5 million.
  • Adjusted EBITDA increased 3% to USD 57.4 million, while free cash flow dropped 58% to USD 12.9 million.
  • GSV was USD 987.1 million, roughly flat year over year, while active clients fell 3% to 784,000 and GSV per active client increased 5% to USD 5,138.
  • Management cited strong profitability in a challenging demand environment, highlighting AI-related GSV growth of more than 40% year over year.
  • Q2 revenue forecast of USD 187 million to USD 193 million; announced a restructuring plan to cut workforce about 24% and raised full-year adjusted EBITDA guidance to USD 250 million to USD 260 million.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Upwork Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605071630PRIMZONEFULLFEED9715867) on May 07, 2026, and is solely responsible for the information contained therein.

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