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 ...

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 For the quarterly period ended March 31, 2023 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, Inc. (NASDAQ:UPWK) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET Company Participants Evan Barbosa - VP, IR Hayden Brown - President, CEO & Director Conference Call Participants Matthew Farrell - Piper Sandler & Co. Andrew Boone - JMP Securities Ronald Josey - Citigroup Eric Sheridan - Goldman Sachs Group John Byun - Jefferies Maria Ripps - Canaccord Genuity Rohit Kulkarni - ROTH MKM Partners Bernard McTernan - Needham & Company Marvin Fong - BTIG Logan Reich - RBC Capital Markets Op ...

Company Operations - The company operates the world's largest work marketplace, measured by Gross Services Volume (GSV), which includes client spending on marketplace offerings and managed services [21]. - The company has engaged approximately 1,950 independent team members throughout 2022, enhancing its service capabilities [35]. - The company offers a variety of services, including Client Marketplace, Upwork Enterprise, and Upwork Payroll, to cater to different client needs [27]. - Upwork Enterprise is designed for larger clients with at least 250 employees, providing features like consolidated billing and dedicated account management [29]. - The company employs a land-and-expand strategy to drive client engagement and increase usage of its work marketplace [48]. Technology and Infrastructure - The company has invested heavily in technology and infrastructure, hosting its platform on Amazon Web Services (AWS) to ensure reliability and scalability [49]. - The company utilizes machine learning algorithms to enhance user experience and improve talent matching on its platform [23]. - The company utilizes machine learning to predict future user behavior based on historical data, enhancing user experience and engagement [56]. - The platform is designed to be elastic, automatically scaling with increased usage to manage sudden traffic spikes [59]. Security and Compliance - The company has achieved several security and privacy certifications, including ISO 27001 and SOC 2 Type II, to meet enterprise client requirements [51]. - The company has implemented comprehensive trust and safety processes to detect and prevent suspicious behavior on its platform [52]. - The company is Payment Card Industry Data Security Standard certified, ensuring compliance with security standards for credit and debit card transactions [54]. Financials and Risk Management - The company had $575.0 million aggregate principal amount of borrowings outstanding under the Notes as of December 31, 2022 [332]. - The company offers clients the option to settle invoices in multiple currencies, exposing it to foreign currency risk, which is mitigated through forward contracts [333]. Diversity and Inclusion - The company has a strong focus on diversity, inclusion, and employee wellness, with approximately 850 employees as of December 31, 2022 [35]. - The company emphasizes diversity, inclusion, and belonging as part of its impact strategy, focusing on economic opportunity and workforce innovation [64]. Environmental Commitment - The company is committed to carbon neutrality and aims to reduce its environmental footprint through remote work facilitation [63]. Market Trends - The competitive landscape for independent talent is rapidly evolving, with increased third-party investment and new entrants driven by remote work trends [65]. Intellectual Property - As of December 31, 2022, the company held 22 issued U.S. patents and six registered trademarks in the United States, including Upwork and "Talent Cloud" [68].

Upwork Q3 Investor Presentation October 2022 urowork Safe Harbor This presentation and the accompanying oral commentary contain "forward-looking" statements based on the beliefs and assumptions of Upwork Inc. (the "Company") and on information currently available to the Company. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including expected financial results for the fourth quarter and full year 2022, information or predictions co ...

Upwork, Inc. (NASDAQ:UPWK) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET Company Participants Evan Barbosa - VP, IR Hayden Brown - President and CEO Jeff McCombs - CFO Conference Call Participants Bernie McTernan - Needham & Company Matt Farrell - Piper Sandler Logan Reich - RBC Capital Markets Marvin Fong - BTIG Maria Ripps - Canaccord Genuity John Byun - Jefferies Rohit Kulkarni - MKM Partners Andrew Boone - JMP Securities Operator Good day. And thank you for standing by. Welcome to Upwork ...

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 For the quarterly period ended September 30, 2022 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 I ...