Upwork says Q2 2026 adjusted EBITDA beats guidance on disciplined cost management

Reuters2026/08/12 15:16

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Upwork posted Q2 2026 revenue of USD 191.7 million, supported by higher take-rate from Ads Monetization levers and disciplined cost control.
Adjusted EBITDA reached USD 64.1 million, beating guidance on restructuring-driven expense reductions; non-GAAP gross margin held at 77%.
GSV fell to USD 966 million as AI automation reduced lower-value work demand; active clients slipped to 763,000 despite record spend metrics.
Management flagged weaker Google search-driven acquisition, shifted mix toward paid search; cost per new contract start improved 22% QoQ.
Full-year revenue outlook cut to USD 730-750 million on faster AI automation and SEO pressure; adjusted EBITDA seen at USD 225-235 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 on August 12, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Upwork says Q2 2026 adjusted EBITDA beats guidance on disciplined cost management

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