Upwork Q4 Investor Presentation March 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 information or predictions concerning the future of the Company's business, anticipated events and tr ...

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 ...