Upwork Inc. (UPWK) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

despite the kind of stabilization we're seeing right now, we have prudently forecast through the rest of the year some ongoing deterioration in marketplace trends just given the rapidity of change that we saw at the end of Q1. So, you know, we do feel that we have worked into our outlook some additional kind of deterioration and conservatism just given the volatility of the trends. I'd also just emphasize We do continue to see strength in the growth pillars that we've identified. We're excited about it, lifted the SMB growth with GSV up 34% quarter-over-quarter for Business Plus. All of these also give us some very good contraindicators to some of the weakness we saw at the lowest end. Got it. Thank you very much for the call. Thank you. Our next question will come from Matt Condon of Citizens Bank. Your line is now open. Thank you so much for taking my questions. My first one is just on, were there any new categories that were impacted by AI in the quarter? Was there any shift in the actual category impact? And then, you know, I know that it's 10% today, but, you know, as model capabilities continue to improve, you know, what gives you the confidence that that 10% is not going to go to 15% and 20% here in the future? And then a follow-up to some enterprise, you know, along the AI lines as well, like what makes you or gives you confidence that, you know, enterprise clients aren't going to lean more heavily on their internal workforces with AI versus needing to go, you know, outside to the freelancer platforms such as Upwork for external talent, just given the efficiency and productivity gains from AI. Thank you. I'm reading now. Sure. So on the category side, there really were no big changes in the quarter. I would say, you know, the thing that we would continue to f...