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Levi & Korsinsky said it has commenced an investigation into Upwork Inc. (NASDAQ: UPWK) regarding potential violations of the federal securities laws.
During Upwork’s Q4 2025 earnings call on February 9, 2026, CEO Hayden Brown reported revenue growth of 2.4% and an adjusted EBITDA margin of 29% for the full year. The company also guided for 6%-8% revenue growth in 2026.
Within weeks, Upwork cut its Q2 2026 guidance and revised its revenue expectations downward.
On the same call, management said it “embedded more AI functionality in the Marketplace.” It estimated that these improvements contributed $100 million in incremental GSV in 2025. Management also stated that GSV from AI-related work surpassed $300 million on an annualized basis in Q4, up more than 50% from the prior year.
The investigation notice said that when Upwork’s Q1 2026 results revealed a gap between prior statements and actual performance, UPWK shares fell 19%.
Levi & Korsinsky said that investors who suffered losses on Upwork securities can explore a potential recovery under federal securities laws by contacting Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or by calling (212) 363-7500.
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