$UPWK (+0.49%)

🔹 Revenue: $201.7M (Est. $193.4M) 🟢; UP +4% YoY

🔹 EPS: $0.36 (Est. $0.28) 🟢

🔹 Adjusted EBITDA: $59.6M; UP +38% YoY (Margin 30%)

🔹 Net Income: $29.3M; UP +6% YoY

🔹 Cash from Operations: $75.1M; UP +23% YoY

🔹 Free Cash Flow: $69.4M; UP +22% YoY

Business Metrics:

🔹 GSV: $1.02B; UP +2% YoY

🔹 Active Clients: 794K; DOWN -7% YoY

🔹 GSV per Client: $5,036; UP +5% YoY

AI & Platform Growth:

🔹 AI-related GSV: UP +53% YoY

🔹 GenAI GSV: UP +65% YoY

🔹 Prompt Engineering GSV: UP +71% YoY

🔹 Ads & Monetization Revenue: UP +19% YoY

🔹 Freelancer Plus Subscription: UP +24% YoY

Guidance:

🔹 Q4 Revenue: $193M–$198M

🔹 Q4 EPS: $0.31–$0.33

🔹 FY25 Revenue: $782M–$787M (Est. $773M) 🟢

🔹 FY25 EPS: $1.35–$1.37 (Est. $1.24) 🟢

🔹 FY25 Adj. EBITDA: $222M–$225M

🔸 “We crossed the $200M revenue milestone with record margins, reinforcing confidence in our long-term 35% EBITDA goal.” – CFO Erica Gessert

🔸 “Our AI-powered work marketplace is driving strong engagement and multi-year growth.” – CEO Hayden Brown

$UPWK (+0.49%)

🔹 Revenue: $194.9M (Est. $187.56M) 🟢; UP +1% YoY

🔹 EPS (Adj.): $0.35 (Est. $0.27) 🟢

Q3'25 Outlook:

🔹 Revenue: $190M–$195M (Est. $187.5M) 🟢

🔹 Adj. EBITDA: $47M–$51M

🔹 EPS (Adj.): $0.26–$0.28

FY25 Outlook (Raised):

🔹 Revenue: $765M–$775M (Est. $755.3M) 🟢

🔹 Adj. EBITDA: $206M–$214M

🔹 EPS (Adj.): $1.14–$1.18

Other Q2 Metrics:

🔹 Net Income: $32.7M; UP +47% YoY

🔹 Adjusted EBITDA: $57.1M; UP +40% YoY

🔹 Adj. EBITDA Margin: 29.3% (Record; UP +813 bps YoY)

🔹 Free Cash Flow: $65.6M; UP +85% YoY

🔹 Cash from Ops: $72.5M; UP +85% YoY

Strategic & Operational Highlights:

🔸 Acquired Bubty; agreed to acquire Ascen to offer full-stack contingent workforce solutions for enterprises

🔸 GSV from AI-related work +30% YoY; Prompt Engineering subcategory +51% YoY

🔸 Uma™ AI agent adoption +24% QoQ; boosts proposal and search efficiency

🔸 Ads & monetization revenue +17% YoY

🔸 Business Plus GSV +190% QoQ; active clients +45% QoQ

🔸 AI now contributes to >35% of deployed code; internal model iteration time cut by 70%

CEO Commentary (Hayden Brown):

🔸 “We significantly outperformed on all key metrics. Our platform and AI investments are delivering strong value across all customer segments.”

🔸 “With Bubty and Ascen, we’re positioned to lead in the $650B enterprise TAM.”