Upwork Stock Plummets 23% After-Hours Today – Here’s Why

The company said it expects adjusted diluted EPS in the range of $0.26 to $0.28 for the first quarter of 2026, below analysts’ estimates of $0.32 per share, according to data from Fiscal.ai.

• Upwork projected revenue in the range of $192 million to $197 million, while analysts on average had expected a revenue of $200.15 million. 
• The company said that its revenue grew 4% year over year to $198.4 million in the fourth quarter of 2025.
• It reported adjusted diluted earnings per share of $0.36, comfortably beating analysts’ estimate of $0.31 per share. 

Shares of Upwork Inc. (UPWK) fell 23% during extended hours of trading on Monday after its first-quarter (Q1) adjusted profit outlook for 2026 came in below analyst estimates. 

The company said it expects adjusted diluted earnings per share in the range of $0.26 to $0.28 for the first quarter of 2026, compared to analysts’ estimates of $0.32 per share, according to data from Fiscal.ai. 

Upwork projected revenue in the range of $192 million to $197 million, while analysts on average had expected a revenue of $200.15 million. 

“We enter 2026 as the leader of a new category, serving as the operational backbone for businesses navigating this new AI era of work. This is our most exciting chapter yet as we tackle the $1.3 trillion market opportunity for flexible digital knowledge work and execute on our vision to build a generation-defining company,” said Hayden Brown, president and CEO, Upwork.

Q4 Earnings

The company said that its revenue grew 4% year over year to $198.4 million in the Q4 2025, beating Wall Street expectations of $197.25 million, as per data from Fiscal.ai.

Upwork reported adjusted diluted earnings per share of $0.36, comfortably beating analysts’ estimate of $0.31 per share. 

GSV from AI-related work surpassed $300 million on an annualized basis in Q4 2025, up more than 50% from the prior year, the company said. 

“In 2025, we delivered on our commitments to return to GSV growth, achieving this goal two quarters earlier than planned, while also achieving record annual revenue and adjusted EBITDA margin,” said Erica Gessert, CFO, Upwork.

The company had also announced a partnership with OpenAI to offer AI training, certifications, and upskilling to global independent professionals on the Upwork Marketplace. 

How Did Stocktwits Users React?

Retail sentiment around UPWK shares trended in “extremely bullish” territory amid “extremely high” message volumes on Stocktwits. 

One bearish user said that UPWK’s earnings did not go too well. 

Another user said that they are buying the dip and called the stock move an overreaction. 

Shares in the company have jumped 18% over the past 12 months. 

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