Upwork authorizes $300 million share repurchase program

Upwork Inc. (NASDAQ: UPWK) announced that its board of directors approved a new $300 million share repurchase program, according to a company statement.

The authorization brings Upwork's total share repurchase authorizations to $600 million since November 2023. In 2025, the company deployed $136 million in cash to repurchase more than 9 million shares.

"2025 was a pivotal year for Upwork, as we returned to GSV growth and delivered record financial results," said Hayden Brown, president and CEO of Upwork. "Our performance and strong balance sheet position us to return value to shareholders while continuing to invest in the key growth levers already delivering value for our business: SMB, AI, and Enterprise."

The company may execute repurchases through various methods including open market transactions, privately negotiated transactions, accelerated share repurchase programs, or other approaches at its discretion and in accordance with applicable securities laws. The repurchase authorization has no expiration date and may be suspended, terminated, or modified at any time.

The authorization does not obligate Upwork to repurchase any specific dollar amount or number of shares. The timing and amount of any repurchases will depend on market and business conditions and other considerations.

Upwork operates a work marketplace connecting businesses with freelance talent and provides enterprise solutions for contingent workforce management. The company has facilitated more than $30 billion in total transactions since its founding.

You May Also Be Interested In

• EVI Industries acquires Sudsies, launches garment care division
• Caring Brands closes initial $4.6M of $9M private placement
• California Resources completes $63M acquisition of Crimson Midstream