Achieves record second quarter with revenue of $194.9 million
Generates GAAP net income of $32.7 million and adjusted EBITDA of $57.1 million, resulting in 17% profit margin and 29% adjusted EBITDA margin
Raises FY2025 revenue and adjusted EBITDA guidance
Acquires Bubty and agrees to acquire Ascen to serve large clients with full range of contingent workforce and staffing solutions, positioning Upwork to capitalize on $650 billion Enterprise TAM opportunity(1)
Related Questions
How will the record Q2 revenue of $194.9 million affect UPWK’s forward‑looking valuation and price target?
Will the upgraded adjusted EBITDA margin lead to a higher payout ratio or reinvestment in platform development, and how might that affect free cash flow?
How does Upwork’s Q2 performance and guidance stack up against its main competitors in the freelance and contingent workforce space (e.g., Fiverr, Freelancer, Toptal, staffing firms)?
How does the new FY2025 revenue and adjusted EBITDA guidance compare to analysts’ consensus estimates and prior guidance?
How might the market react to the strong GAAP net income of $32.7 million relative to prior quarters, and could this trigger a short‑cover rally?
What impact will the acquisitions of Bubty and the pending Ascen deal have on integration costs, revenue synergies, and gross margins?
What is the expected impact of the acquisitions on Upwork’s balance sheet—specifically cash outlays, debt levels, and liquidity ratios?
Are there any sign‑off or integration milestones for the Ascen acquisition that could create short‑term volatility in UPWK’s stock?
What is the expected contribution of the $650 billion Enterprise TAM to Upwork’s growth trajectory over the next 3‑5 years?
What are the key drivers behind the 17 % profit margin and 29 % adjusted EBITDA margin, and are they sustainable going forward?
What are the risks to hitting the raised FY2025 guidance, such as macro‑economic slowdown, client churn, or regulatory changes affecting the gig economy?