Upwork Inc. reported second quarter 2026 financial results with revenue of $191.7 million, a 2% year-over-year decrease, and GAAP net income of $25.4 million, down 22%. Gross services volume (GSV) declined 4% to $966.4 million, while active clients fell 4% to 763,000. Adjusted EBITDA rose 12% year-over-year to $64.1 million with a 33% margin. The company returned $109.7 million to shareholders through share repurchases in the first half of the year and has $254.3 million remaining in its authorization program. Upwork provided third quarter revenue guidance of $176 million to $184 million and full-year 2026 revenue guidance of $730 million to $750 million. Upwork operates a global online marketplace connecting businesses with freelance talent.

Effective July 14, 2026, Upwork Inc.'s Chief Financial Officer Erica Gessert will take a temporary medical leave of absence. President and CEO Hayden Brown will serve as interim principal financial officer during her absence, with an expected return in the fourth quarter of 2026. Upwork Inc. is a provider of a freelance marketplace for businesses and clients to find and hire freelance professionals.

Upwork Inc. entered into a $150.0 million secured revolving credit facility with Bank of America, N.A. as administrative agent and BofA Securities, Inc. and Wells Fargo Securities, LLC as joint lead arrangers. The facility matures on June 23, 2029, and includes an option to increase the capacity up to an additional $50.0 million. Proceeds may be used for working capital, debt repayment, or potential acquisitions. Upwork Inc. operates in the freelance and remote work marketplace industry by providing a digital platform for businesses and independent professionals to connect and work together.