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Sep 30, 2024
Upwork Q3 2024 Earnings Report
Achieved 10% year-over-year revenue growth and record GAAP net income.
Key Takeaways
Upwork reported a 10% year-over-year revenue increase and a record net income in Q3 2024. The company is raising its full-year 2024 revenue and adjusted EBITDA guidance and authorized a new $100 million share repurchase program.
Revenue grew 10% year-over-year to $193.8 million.
Net income reached an all-time high of $27.8 million, up 70% year-over-year.
Adjusted EBITDA was $43.2 million, up 38% year-over-year.
Active clients grew 2% year-over-year to 855,000.
Revenue by Segment
Forward Guidance
Upwork's guidance for revenue, adjusted EBITDA, diluted weighted-average shares outstanding, and non-GAAP diluted EPS for the fourth quarter of 2024 is: •Revenue: $178 million to $183 million •Adjusted EBITDA: $38 million to $42 million4 •Diluted weighted-average shares outstanding: 140 million to 142 million •Non-GAAP diluted EPS: $0.24 to $0.26
Positive Outlook
- Revenue: $178 million to $183 million
- Adjusted EBITDA: $38 million to $42 million
- Diluted weighted-average shares outstanding: 140 million to 142 million
- Non-GAAP diluted EPS: $0.24 to $0.26
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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