UPWORK, INC - 8-K Filing
On May 7, 2026, Upwork reported Q1 financial results showing $987.1 million in GSV (flat YoY), revenue of $195.5 million (+1% YoY), and adjusted EBITDA of $57.4 million (+3% YoY). The company announced a 24% workforce reduction as part of a restructuring plan, expected to cost $16–$23 million in pre-tax charges primarily for severance, with most costs recognized by Q2 2026. Upwork also raised its full-year adjusted EBITDA guidance and returned $107.9 million to shareholders through share repurchases. (Items: 2.02 Results of Operations and Financial Condition, 2.05 Costs Associated with Exit or Disposal Activities, 7.01 Regulation FD Disclosure, 9.01 Financial Statements and Exhibits)
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