Why Upwork (UPWK) Stock Crashed 21% After Earnings
TLDR
- Upwork stock fell 21.2% in after-hours trading after Q2 2026 earnings
- Q3 2026 revenue guidance of $176M-$184M missed the $194M analyst consensus
- Active clients dropped to 763,000 from 796,000 a year ago
- Needham cut its price target to $11 from $15, citing AI automation headwinds
- Google Search algorithm changes are also reducing the effectiveness of Upworkโs SEO
Upwork (UPWK) stock dropped 21.2% in after-hours trading on August 10, 2026, after the company issued forward guidance that fell well short of Wall Street expectations.
Q3 2026 revenue guidance came in at $176M-$184M, against an analyst consensus of around $194M. Full-year 2026 guidance of $730M-$750M also trailed estimates by a wide margin.
The quarterly numbers were actually decent. Adjusted EPS of $0.41 beat the $0.34 consensus, and revenue of $191.7M edged past the $190.1M estimate.
UPWORK $UPWK Q2โ26 EARNINGS HIGHLIGHTS
๐น Revenue: $191.7M (Est. $190M) ๐ข; -2% YoY
๐น Adj. EPS: $0.41 (Est. $0.34) ๐ข
๐น Adj. EBITDA: $64.1M (Est. $57.6M) ๐ข; +12% YoY
๐น GSV per Active Client: $5,230; +5% YoYโฆ Continue reading the full article at the original source below.
