Short answer
UPWORK, INC (UPWK) filed its Q2 2026 10-Q quarterly report on Aug 10, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $192M (down 1.7% year over year) with net income of $25M.
Q2 2026 key financials · XBRL
- Revenue
- $192M
- −1.7% YoY · −2.0% QoQ
- Net income
- $25M
- −22.4% YoY · −19.3% QoQ
- Operating margin
- 14.7%
- Gross margin
- 76.4%
- EPS (diluted)
- $0.20
- −13.0% YoY · −16.7% QoQ
Source: XBRL data from the UPWORK, INC (UPWK) Q2 2026 10-Q on SEC EDGAR. USD.
UPWORK, INC Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Total revenue $191.7M, down 2% YoY from $194.9M
- Gross margin 76% vs 78% YoY
- Marketplace revenue $166.9M, down 2%; Enterprise revenue $24.8M, up 2%
- Net income $25.4M vs $32.7M; adjusted EBITDA $64.1M vs $57.1M
- GSV $966.4M, down 4%; management expects AI and macroeconomic headwinds to affect revenue through 2026
Risk Factors
- AI-driven demand weakness: GSV declined 4% in Q2 2026 as AI reduced certain freelance-work categories and affected client acquisition
- Regulatory compliance exposure: DFPI or other regulators could require larger cash reserves or action on Upwork’s internet escrow license
- Operational dependence: Banking and payment-partner disruption could impair transaction collection and customer fund disbursement
- Competitive risk: Customers may shift to AI tools replacing traditional talent tasks, reducing platform usage and revenue
- Financial risk: Indebtedness and Credit Agreement covenants could restrict operating flexibility and available cash flow
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
Other UPWORK, INC quarterly reports
Ask about this quarter
Compare quarters, check guidance or see what insiders and funds did around the report.