Upwork stock stays in focus after profitable quarter and outlook

Upwork Inc. reported third-quarter results on November 2, with revenue of USD 185.6 million and GAAP net income of USD 31.8 million. The company also reported adjusted EBITDA of USD 63.8 million, equal to a 34.4 percent margin, in its third-quarter earnings release.

Upwork stock traded at 8.72 euros on Lang & Schwarz at 13:31 CET on Tuesday, November 10, 2026.

Guidance keeps profitability in focus

For the fourth quarter, Upwork expects revenue of USD 169 million to USD 177 million and adjusted EBITDA of USD 51 million to USD 55 million. The company expects non-GAAP diluted earnings per share of USD 0.30 to USD 0.32.

Full-year 2026 guidance calls for revenue of USD 742 million to USD 750 million, adjusted EBITDA of USD 236 million to USD 240 million and non-GAAP diluted earnings per share of USD 1.45 to USD 1.47. The outlook gives investors a defined range for judging demand and margin execution through year-end.

AI and enterprise expansion continue

Upwork said gross services volume from freelancers with AI skills reached an estimated annualized run rate of nearly USD 450 million in the third quarter, up 55 percent year over year. Its Lifted business also acquired WorkMotion, which the company said should strengthen its enterprise offering across more than 30 countries.

Upwork will also change its finance leadership. CFO Erica Gessert is scheduled to step down on January 1, 2027, while Peter Sanborn has been appointed as her successor.

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