UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K _____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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. (Exact na ...

Upwork Inc. (NASDAQ:UPWK) Q4 2021 Earnings Conference Call February 10, 2022 5:00 PM ET Company Participants Evan Barbosa - Vice President, Investor Relations Hayden Brown - President & Chief Executive Officer Jeff McCombs - Chief Financial Officer Conference Call Participants Maria Ripps - Canaccord Eric Sheridan - Goldman Sachs Bernie McTernan - Needham Marvin Fong - BTIG Matt Farrell - Piper Sandler Rohit Kulkarni - MKM Partners Operator Good day. Thank you for standing by and welcome to the Upwork Fourt ...

Financial Data and Key Metrics Changes - Gross Services Volume (GSV) increased by 38% year-over-year to reach $904 million, while revenue grew by 32% year-over-year to $128 million [5] - The number of active clients grew by 25% year-over-year, and GSV per active client increased by 12% year-over-year, indicating strong platform demand [6] Business Line Data and Key Metrics Changes - The enterprise sales team saw a record level of sales productivity, with new enterprise plan customers up 143% year-over-year, and the number of customers spending $1 million or more in the trailing 12 months increased by 11% quarter-over-quarter [12] Market Data and Key Metrics Changes - The corporate war for talent has intensified, with 10 million Americans considering leaving full-time jobs for freelancing, indicating a shift in workforce dynamics [7] - Half of the Gen-Z talent pool is choosing to start their careers in freelance rather than full-time employment, reflecting a significant change in career preferences [8] Company Strategy and Development Direction - The company is focused on rapid innovation to empower talent and clients, aiming to transform the work marketplace with flexible and dynamic work models [9] - New features like the Virtual Talent Bench and partnerships with companies like Loom and Catch are designed to enhance client-talent relationships and support freelancers [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing labor shortages as a tailwind for the business, emphasizing the need for increased brand awareness to position Upwork as a solution [20][21] - The company is committed to building a strong enterprise sales team and expanding its capabilities, with confidence in the effectiveness of its sales playbook [24][58] Other Important Information - The company is investing heavily in brand marketing to increase awareness and engagement, recognizing that brand spend is a long-term investment [37][41] - The introduction of new features like boosted proposals aims to enhance user engagement and monetization opportunities [47][68] Q&A Session Summary Question: Impact of labor shortages on marketplace demand - Management noted that talent shortages are a significant issue for businesses, and Upwork is positioned to help companies access skilled independent talent [20][21] Question: Investment in enterprise sales force - Management expressed confidence in the enterprise sales team's performance and plans to double the team size, citing successful execution of their sales strategy [22][24] Question: Adoption of remote work solutions - Management indicated that companies have recognized the effectiveness of remote work and are seeking flexible talent solutions, independent of their office policies [28][30] Question: Brand marketing investment returns - Management clarified that brand marketing is a long-term initiative, with expected impacts on business metrics taking time to materialize [36][41] Question: Opportunities from boosted proposals - Management highlighted that the boosted proposals feature aims to enhance talent visibility and engagement, with potential long-term revenue benefits [46][68] Question: Performance of Talent Scout - Management reported strong early adoption of the Talent Scout feature, with high repeat buy rates and positive customer feedback [64] Question: Advertising opportunities - Management discussed the potential for increased visibility for both talent and clients through new advertising features, emphasizing the value of high-intent signals [68]

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, 2021 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 ________ ...

Financial Data and Key Metrics Changes - Upwork reported a record second quarter with a 50% year-over-year growth in Gross Services Volume (GSV) and a 42% year-over-year growth in revenue [8] - Active clients grew by 27% year-over-year, indicating strong customer engagement [9] Business Line Data and Key Metrics Changes - The launch of Project Catalog has attracted 10% of new customers, serving as both an acquisition engine and a cross-sell opportunity [18][19] - The take rate in the core marketplace decreased to 13.2%, attributed to a mix of larger clients and accounting dynamics [23][28] Market Data and Key Metrics Changes - The total addressable market for Upwork is estimated at $1.3 trillion, with a significant shift towards remote work adoption due to the COVID-19 pandemic [12] - The company is experiencing elevated business activity levels, with expectations of a seasonal slowdown in Q3 but overall positive growth outlook [32][44] Company Strategy and Development Direction - Upwork's strategic priority is to innovate and scale the work marketplace, aiming to be the go-to solution for companies hiring freelancers [14] - The company is focusing on enhancing its brand perception and expanding its marketing efforts to address awareness gaps in the market [38][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term potential of remote work and the company's ability to adapt to changing market dynamics [12][44] - The outlook for Q3 anticipates a 30% year-over-year growth, reflecting sustained demand despite potential seasonal effects [32] Other Important Information - The company is investing more in performance marketing and sales teams to capitalize on current market opportunities [45] - The management highlighted a shift in enterprise customers' mindsets towards long-term solutions rather than temporary fixes [37] Q&A Session Summary Question: Update on Project Catalog traction and GSV per active client - Management reported that 10% of new customers are coming from Project Catalog, which is seen as a way to engage new customers and convert them into higher spending clients over time [18][19] - GSV per client is not expected to be materially impacted in the short term, as new clients may have lower GSV but will likely cross-buy other services [20][21] Question: Profile of new clients from Project Catalog and take rate dynamics - New clients from Project Catalog are similar to existing customers, indicating a broader appeal for smaller project needs [24] - The decrease in take rates is attributed to clients moving into lower tiers of service fees and some accounting adjustments [28] Question: Activity patterns and seasonal trends - Business activity remains elevated, with some normal seasonal patterns expected as the world transitions post-COVID [32] - The company anticipates a slight drop from Q2 to Q3 due to summer vacations but maintains a positive outlook for Q4 [32][44] Question: Enterprise suite projects and marketing campaign learnings - New enterprise customers are engaging in a range of projects, primarily in design and technical work, reflecting a shift towards long-term solutions [36][37] - Early marketing campaigns have shown positive impacts on customer perceptions, with plans to build on these learnings in the second half of the year [38]

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 June 30, 2021 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) Q1 2021 Earnings Conference Call May 4, 2021 5:00 PM ET Company Representatives Hayden Brown - President, Chief Executive Officer Jeff McCombs - Chief Financial Officer Denise Garcia - Investor Relations Conference Call Participants Marvin Fong - BTIG Nick Jones - Citi John Colantuoni - Jefferies Logan Thomas - Stifel Ron Josey - JMP Securities Operator Good day and thank you for standing by. Welcome to the Upwork’s First Quarter 2021 Earnings Conference Call. At this time all part ...

_____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________ FORM 10-Q For the quarterly period ended March 31, 2021 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 2020 Earnings Conference Call February 23, 2021 5:00 PM ET Company Participants Denise Garcia - IR Hayden Brown - President and CEO Jeff McCombs - CFO Conference Call Participants Nick Jones - Citi Ron Josey - JMP Securities Marvin Fong - BTIG John Colantuoni - Jefferies Logan Thomas - Stifel Operator Ladies and gentlemen, thank you for standing by, and welcome to the Upwork Fourth Quarter and Full Year 2020 Earnings Conference Call. [Operator Instructions] Please be advised tha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K _____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 For the transition period from _______ to _______ Commission File Number 001-38678 _____________________________ UPWORK INC. (Exact name of registrant as specified in its charter) _____________________________ Delaware 46-433768 ...