Wrapping up Q2 earnings, we look at the numbers and key takeaways for the gig economy stocks, including Upwork (NASDAQ: UPWK) and its peers.
The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away.
The 5 gig economy stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 11.2% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 12.3% since the latest earnings results.
Upwork (NASDAQ: UPWK)
Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ: UPWK) is an online platform where businesses and independent professionals connect to get work done.
Upwork reported revenues of $191.7 million, down 1.7% year on year. This print exceeded analysts’ expectations by 0.9%. Despite the top-line beat, it was still a softer quarter for the company with full-year EBITDA guidance missing analysts’ expectations significantly and revenue guidance for next quarter missing analysts’ expectations significantly.
Upwork pulled off the highest guidance raise and highest full-year guidance raise of the whole group. Still, the market seems discontent with the results. The stock is down 18.1% since reporting and currently trades at $8.05.
Read our full report on Upwork here, it’s free.
Best Q2: DoorDash (NASDAQ: DASH)
Founded by Stanford students with the intent to build “the local, on-demand FedEx", DoorDash (NASDAQ: DASH) operates an on-demand food delivery platform.
DoorDash reported revenues of $4.45 billion, up 35.6% year on year, outperforming analysts’ expectations by 2.5%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates and impressive growth in its requests.
DoorDash pulled off the biggest analyst estimate beat and fastest revenue growth in the group. The company reported 970 million service requests, up 27.5% year on year. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 8.9% since reporting. It currently trades at $188.88.
Is now the time to buy DoorDash? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Fiverr (NYSE: FVRR)
Based in Tel Aviv, Fiverr (NYSE: FVRR) operates a fixed price global freelance marketplace for digital services.
Fiverr reported revenues of $97.78 million, down 10% year on year, falling short of analysts’ expectations by 1.7%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a decline in its buyers.
Fiverr delivered the weakest guidance update and weakest full-year guidance update among its peers. The company reported 2.7 million active buyers, down 20.6% year on year. As expected, the stock is down 26.4% since the results and currently trades at $8.53.
Read our full analysis of Fiverr’s results here.
Uber (NYSE: UBER)
Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE: UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight.
Uber reported revenues of $14.19 billion, up 12.2% year on year. This number met analysts’ expectations. Zooming out, it was a mixed quarter as its performance in some other areas of the business was disappointing.
The company reported 208 million users, up 15.6% year on year. The stock is down 5.5% since reporting and currently trades at $68.06.
Read our full, actionable report on Uber here, it’s free.
Lyft (NASDAQ: LYFT)
Founded by Logan Green and John Zimmer as a long-distance intercity carpooling company Zimride, Lyft (NASDAQ: LYFT) operates a ridesharing network in the US and Canada.
Lyft reported revenues of $1.84 billion, up 16.1% year on year. This print topped analysts’ expectations by 1.9%. Overall, it was a strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and strong growth in its users.
The company reported 30.5 million users, up 16.9% year on year. The stock is down 5.7% since reporting and currently trades at $15.38.
Read our full, actionable report on Lyft here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
