Upwork Inc (NASDAQ:UPWK) shares are moving higher in Wednesday’s after-hours session after the company reported strong fourth-quarter results.

• Q4 Revenue: $191.48 million, versus estimates of $180.94 million

• Q4 Adjusted EPS: 30 cents, versus estimates of 24 cents

Total revenue increased 4% year-over-year. Active clients totaled 832,000 at quarter’s end. Gross services volume per active client came in at $4,815, up 1% year-over-year.

Upwork generated $38.6 million in cash from operations and $34.7 million in free cash flow during the quarter. The company ended the period with $305.76 million in cash and cash equivalents.

“Our 2024 results are a reflection of our strong execution driving durable, profitable growth, bringing new AI innovations to market, and building long-term shareholder value,” said Hayden Brown, president and CEO, Upwork.

“Upwork’s superior scale and model means we are poised to continue to gain market share as a trusted source of high-quality talent and work outcomes, powered by AI, in the years ahead.”

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Outlook: Upwork expects first-quarter revenue to be in the range of $186 million to $191 million versus estimates of $183.4 million, per Benzinga Pro. The company anticipates first-quarter adjusted earnings of 24 cents to 26 cents per share versus estimates of 26 cents per share.

Upwork sees full-year 2025 revenue of $740 million to $760 million versus estimates of $758.5 million. The company expects full-year adjusted earnings to be in the range of $1.05 to $1.10 per share versus estimates of $1.18 per share.

Management is currently discussing the quarter on a conference call that kicked off at 5 p.m. ET.

UPWK Price Action: Upwork shares were up 4.9% after hours, trading at $16.30 at the time of publication Wednesday, according to Benzinga Pro.

Photo: Shutterstock.