Upwork reports 15% YoY revenue increase to $193.1m in Q2, but lowers 2024 revenue guidance due to decreased funnel activity and client shift.
Upwork reported Q2 earnings with a 15% year-over-year revenue increase to $193.1m, its highest-ever Q2 GAAP net income at $22.2m, and a 21% adjusted EBITDA margin. Despite this, the company lowered its 2024 full-year revenue guidance due to decreased top-of-funnel activity and a shift in active clients. Upwork's Q3 revenue is expected to be between $179m and $184m, and adjusted EPS between 23 cents and 25 cents.
August 07, 2024
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