NEW YORK CITY, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Sesame, the company building a radically new healthcare system for uninsured Americans and those with high-deductible plans, today announced the appointment of Melissa Waters to its Board of Directors. Waters joins Sesame's board with more than 15 years of experience in advancing disruptive digital, consumer and marketplace brands, fostering high-performing teams and driving growth-oriented business outcomes. Presently, she holds the position of chief market ...

SAN FRANCISCO, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent from across the globe, today announced that it will report its financial results for the fourth quarter and full year of 2023 on Wednesday, February 14, 2024 after market close. The company will host a Q&A conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. A live webcast of the call will be ...

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Key PointsThe stock was just upgraded with a bullish price target update as well. Upwork's fundamentals continue to improve and set records.Technically, the rally remains strong and points to further gains.5 stocks we like better than UpworkIt's been a remarkable couple of weeks for equities, no doubt about it. The broad rally that started at the end of October has already sent many stocks to all-time highs, and as we head into 2024, the benchmark S&P 500 index is on the verge of doing the same. So, with mo ...

Upwork (UPWK) shares ended the last trading session 11.5% higher at $15.66. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.1% loss over the past four weeks.Upwork benefits from an expanding portfolio of generative AI suites and an expanding partner base.This online freelance marketplace operator is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year ch ...

Upwork Inc. (NASDAQ:UPWK) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET Company Participants David Anhalt - Manager of IR Hayden Brown - President & CEO Erica Gessert - CFO Conference Call Participants Matt Farrell - Piper Sandler Jason Park - UBS Logan Reich - RBC Bernard McTernan - Needham and Company John Byun - Jefferies Rohit Kulkarni - ROTH Andrew Boone - JMP Securities Eric Sheridan - Goldman Sachs Maria Ripps - Canaccord Operator Good day, and thank you for standing by. Welcome to the ...

Revenue and Income - For the three months ended September 30, 2023, Marketplace revenue increased by 11% to $161.7 million compared to $145.1 million in the same period of 2022[76]. - Total revenue for the three months ended September 30, 2023, was $175.7 million, an increase of 11% compared to $158.6 million for the same period in 2022[102]. - Net income for the three months ended September 30, 2023, was $16.3 million, a significant improvement from a net loss of $24.8 million in the same period of 2022[78]. - The company experienced a net income of $29.5 million for the nine months ended September 30, 2023, with non-cash adjustments of $24.5 million[132]. - For the nine months ended September 30, 2022, the company reported a net loss of $73.4 million[133]. Client Metrics - The number of active clients increased by 2% to 836, up from 818 as of September 30, 2022[79]. - GSV per active client decreased by 1% to $4,906 as of September 30, 2023, compared to $4,958 in the same period of 2022[79]. - The number of active clients increased by 2% as of September 30, 2023, compared to the same date in 2022, contributing to improved client retention[103]. Expenses and Cost Management - Total operating expenses for the three months ended September 30, 2023, were $121.0 million, a decrease from $143.6 million in the same period in 2022[102]. - Research and development expenses increased by 12% to $43.4 million for the three months ended September 30, 2023, compared to $38.9 million in 2022[109]. - Sales and marketing expenses decreased by $15.9 million (25%) to $47.3 million for the three months ended September 30, 2023, compared to $63.2 million in 2022, and by $12.7 million (7%) to $171.4 million for the nine months ended September 30, 2023, compared to $184.1 million in 2022[111][112]. - General and administrative expenses decreased by $2.8 million (9%) to $28.7 million for the three months ended September 30, 2023, and by $6.9 million (7%) to $86.9 million for the nine months ended September 30, 2023, compared to the same periods in 2022[113]. - Provision for transaction losses decreased by $8.5 million (84%) to $1.6 million for the three months ended September 30, 2023, and by $8.1 million (43%) to $10.9 million for the nine months ended September 30, 2023, compared to the same periods in 2022[114]. Cash Flow and Financial Position - Cash and cash equivalents increased to $146.8 million as of September 30, 2023, from $129.4 million as of December 31, 2022, while marketable securities decreased to $408.4 million from $557.2 million in the same period[121]. - Funds held in escrow, including funds in transit, increased to $178.0 million as of September 30, 2023, from $161.5 million as of December 31, 2022[126]. - The company anticipates that existing cash and cash equivalents, marketable securities, and cash flow from operations will be sufficient for at least the next 12 months to meet its cash requirements[122]. - For the nine months ended September 30, 2023, net cash provided by operating activities was $32.6 million, compared to a net cash used of $1.9 million in the same period of 2022[131][133]. - Net cash provided by investing activities for the nine months ended September 30, 2023, was $151.7 million, primarily due to proceeds from maturities of marketable securities of $451.0 million[134]. - Net cash used in financing activities for the nine months ended September 30, 2023, was $150.3 million, driven by $171.3 million paid for repurchases[136]. Debt and Interest - The company recognized a gain of $38.9 million on the early extinguishment of debt during the nine months ended September 30, 2023, included in other income[100]. - Interest expense decreased to $711,000 for the three months ended September 30, 2023, down from $1.1 million in 2022[102]. - Interest expense decreased by $406,000 (36%) to $711,000 for the three months ended September 30, 2023, and by $837,000 (25%) to $2.5 million for the nine months ended September 30, 2023, compared to the same periods in 2022[115][116]. - The company had $361.0 million and $575.0 million in aggregate principal amount of borrowings outstanding under the Notes as of September 30, 2023, and December 31, 2022, respectively[143]. Strategic Changes - The company implemented a simplified flat service fee structure of 10% in May 2023, replacing the previous tiered service fee model[83]. - A contract initiation fee of up to $4.95 per contract was introduced for clients in April 2023[83]. - The company expects research and development expenses to continue increasing in future periods to enhance the quality and adoption of current offerings[110]. - The company expects sales and marketing expenses to continue decreasing throughout the remainder of 2023 compared to the same period in 2022[112]. - The board of directors authorized a Share Repurchase Program allowing for the repurchase of up to $100.0 million of common stock[120]. Market and Risk Management - The company has entered into forward contracts to mitigate foreign currency risk, which has been insignificant to date[145]. - The company’s cash and cash equivalents are relatively insensitive to interest rate changes due to their short maturity[143].

Start Time: 17:00 January 1, 0000 5:40 PM ET Upwork Inc. (NASDAQ:UPWK) Q2 2023 Earnings Conference Call August 02, 2023, 17:00 PM ET Company Participants Hayden Brown - President and CEO Erica Gessert - CFO Evan Barbosa - VP, IR Conference Call Participants Eric Sheridan - Goldman Sachs Andrew Boone - JMP Securities Matt Farrell - Piper Sandler Rohit Kulkarni - ROTH Ronald Josey - Citi John Byun - Jefferies Stefanos Crist - Needham Operator Good day and thank you for standing by. Welcome to the Upwork's Sec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________ FORM 10-Q _____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-38678 ________________________________________________ UPWORK IN ...

Upwork, Inc. (NASDAQ:UPWK) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET Corporate Participants Evan Barbosa - VP, IR Hayden Brown - President and Chief Executive Officer Erica Gessert - Chief Financial Officer Conference Call Participants Eric Sheridan - Goldman Sachs John Byun - Jefferies Nat Schindler - Bank of America Matt Farrell - Piper Sandler Logan Reich - RBC Capital Bernie McTernan - Needham Marvin Fong - BTIG Andrew Boone - JMP Securities Rohit Kulkarni - ROTH Operator Thank you for sta ...