Upwork Launches $300M Buyback, Shares Jump 6.9% After Record GSV Growth
Upwork approved a $300M share repurchase program, supplementing the $136M buyback completed in 2025, with $34M spent in Q4 and $64M remaining on the prior authorization. Shares rallied 6.9% as CEO Hayden Brown cited a return to gross services volume growth and record 2025 results driven by AI and SME investment.
1. Board Approves $300M Buyback
Upwork’s board approved a $300 million share repurchase program, adding to the $136 million completed in 2025. In Q4, the company spent $34 million on buybacks, leaving $64 million available under the previous authorization.
2. Rally and Technical Indicators
Shares surged 6.9% following the buyback announcement, trading roughly 23.4% below their 20-day moving average. The RSI stands at 25.05, indicating oversold conditions, while the MACD sits at -1.7564, reflecting ongoing bearish momentum.
3. Growth Strategy and Outlook
CEO Hayden Brown highlighted a return to gross services volume (GSV) growth and record financial results in 2025, driven by investments in AI and small-to-medium business services. Analysts forecast Q1 revenue of $196.45 million and EPS of $0.26, down from $0.34 last year.