Upwork's Q3 Non-GAAP Earnings Rise, Revenue Falls; 2026 Guidance Increased; Shares Up Pre-Bell

MT Newswires Live11-03 18:05

Upwork (UPWK) reported Q3 non-GAAP earnings late Monday of $0.40 per diluted share, up from $0.36 a year earlier.

Analysts polled by FactSet expected $0.31.

Revenue for the quarter ended Sept. 30 was $185.6 million, down from $201.7 million a year earlier.

Analysts expected $180.2 million.

The company expects Q4 non-GAAP EPS of $0.30 to $0.32. Analysts expect $0.31. Meanwhile, revenue for the quarter is projected to be $169 million to $177 million. Analysts are looking for $174.4 million.

For 2026, the company now expects non-GAAP EPS to be between $1.45 and $1.47, compared with the prior outlook of between $1.38 and $1.43. Analysts expect $1.43.

Meanwhile, revenue for the year is now projected to be between $742 million and $750 million, compared with the prior outlook of between $730 million and $750 million. Analysts expect $744 million.

Shares of the company rose more than 9% in recent premarket activity Tuesday.

Price: 10.64, Change: +0.92, Percent Change: +9.47

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