Upwork — Third Quarter 2026 Earnings Summary

Upwork reported third-quarter 2026 revenue of $185.6 million and GAAP net income of $31.8 million, reflecting an 8% year-over-year increase in net income. The company achieved an adjusted EBITDA of $63.8 million with a 34.4% margin, driven by growth in AI-skilled freelancers and the Business Plus offering for small and medium businesses. Strategic initiatives included the acquisition of WorkMotion by its subsidiary Lifted to expand enterprise employer of record capabilities and the launch of the MCP server to integrate AI agents into the marketplace. Upwork provided full-year 2026 revenue guidance between $742 million and $750 million and announced that Peter Sanborn will succeed Erica Gessert as Chief Financial Officer effective January 1, 2027.