Upwork's third quarter of 2025 marked a significant turning point, achieving record revenue of $201.7 million and a 2% year-over-year growth in gross services volume (GSV) as the company capitalizes on its AI-driven marketplace strategy.
- Revenue surpassed $200 million for the first time, with GAAP net income reaching $29.3 million.
- Adjusted EBITDA hit an all-time high of $59.6 million, translating to a margin of 29.6%.
- AI-related project activity on the platform surged, with GSV from AI work up 53% year-over-year.
- Adoption of Upwork Business Plus grew 36% quarter-over-quarter, demonstrating strong demand among SMBs.
- The launch of Lifted aims to tap into the $650 billion contingent work market, with robust early interest from clients.
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