Upwork (UPWK) Q2 FY26 earnings call

Upwork navigated a challenging Q2 FY26, delivering revenue and adjusted EBITDA at or above guidance, driven by disciplined cost management. The company is actively adapting to an accelerating AI-driven transition in the labor market, which is impacting lower-value work and new client acquisition via SEO. Strategically, Upwork is focusing on higher-value SMB and enterprise clients, expanding AI-related work, and innovating with its MCP server to integrate with AI tools, positioning itself for long-term growth despite near-term headwinds.