Upwork Q2 FY26 GAAP net income drops 22% to $25.4 million; revenue falls 2% to $191.7 million - UPWK News | RalliesUpwork Q2 FY26 GAAP net income drops 22% to $25.4 million; revenue falls 2% to $191.7 million
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UPWK• Q2 FY26 results
- Upwork posted Q2 2026 GAAP net income of $25.4 million, down 22% year over year, as revenue slipped 2% to $191.7 million.
- Adjusted EBITDA rose 12% to $64.1 million, lifting adjusted EBITDA margin 4.15 percentage points to 33%.
- GSV fell 4% to $966.4 million, while active clients declined 4% to 763,000; GSV per active client climbed 5% to a record $5,230.
AI-related work and outlook
- GSV from AI-related work increased more than 22% year over year; AI Strategy & Consulting GSV grew over 50%.
- Outlook calls for Q3 revenue of $176 million-$184 million, with adjusted EBITDA of $50 million-$54 million.
