Upwork's sales and profit were better than expected last quarter, but fewer active clients could slow growth through 2027.

Nov 3, 2026, 10:52 AM ETResultsRead the original at Benzinga

Bad for UPWK

Upwork beat sales and EBITDA expectations, and Enterprise work value is forecast to grow more than 30% next year. But total work value fell 10%, active client losses rose to 46,000, and real growth is not expected until 2028, so the broad slowdown outweighs those gains.

UPWK · Upwork Inc

AI read · Bad for UPWK

The AI's read

The decline reaches beyond one measure: marketplace work value fell 14%, and active client losses rose from 21,000 to 46,000. Analysts linked the problems to lower-value work being replaced and search moving to AI tools. Cost cuts and a growing Enterprise business help. But analysts expect weak growth through 2027, with real growth not returning until 2028. Those longer-lasting problems outweigh the better quarter.

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