Upwork Q3 2025 Performance Summary
Financial Results & Operating Leverage: Upwork demonstrated substantial profitability improvement in Q3 and the first nine months (9M) of Fiscal Year 2025. Nine Month Revenue grew 2% YoY to $589.4M, while Net Income surged 46% to $99.8M, driven by strong cost controls. Adjusted EBITDA for Q3 increased 38% to $59.6M. Diluted EPS for the 9M reached $0.72 (vs. $0.50 in 2024). Operational efficiency was achieved through significant year-over-year expense reductions in R&D and Sales & Marketing. Marketplace Revenue fueled overall growth, though Enter
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