Upwork reported a strong second quarter in 2024, with revenue up 15% year-over-year to $193.1 million and net income reaching a record $22.2 million. The company saw growth in active clients and significant increases in adjusted EBITDA and free cash flow.
Revenue grew 15% year-over-year, reaching $193.1 million.
Net income reached a record high of $22.2 million, compared to a net loss in the previous year.
Active clients increased by 6% year-over-year, exceeding 868,000.
Adjusted EBITDA significantly improved to $40.8 million, more than doubling from the previous year.
Upwork's guidance for the third quarter of 2024 includes revenue between $179 million and $184 million, and adjusted EBITDA between $36 million and $39 million. For the full year 2024, Upwork anticipates revenue between $735 million and $745 million, and adjusted EBITDA between $140 million and $150 million.
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