Core Viewpoint - Upwork Inc. has announced a new $100 million share repurchase program, marking the third such authorization since November 2023, aimed at enhancing shareholder value through effective use of its balance sheet [1][2]. Group 1: Share Repurchase Program - The board of directors of Upwork has approved an additional $100 million share repurchase program, which has no expiration date and can be modified or terminated at any time [1][2]. - The repurchase may occur through various methods, including open market transactions and privately negotiated deals, at the company's discretion and in compliance with applicable laws [2]. Group 2: Financial Performance and Strategy - Upwork's financial results have consistently exceeded expectations, providing opportunities to utilize its balance sheet for increasing shareholder value [2]. - The company emphasizes its operational discipline and rapid execution as key factors in growing Gross Services Volume (GSV) and gaining market share [2]. Group 3: Company Overview - Upwork Inc. operates the Upwork Marketplace and its enterprise-focused subsidiary, Lifted, connecting companies with global, AI-enabled talent across various work models [3]. - The Upwork Marketplace serves a diverse clientele, from Fortune 100 companies to entrepreneurs, offering access to professionals with over 10,000 skills, including AI & machine learning, software development, and finance [4]. Group 4: Historical Context - Since its inception, Upwork has facilitated over $25 billion in talent earnings, reinforcing its commitment to creating opportunities in the evolving work landscape [5].

Core Insights - Upwork Inc. has launched Lifted, a subsidiary designed to provide a comprehensive solution for enterprises to source, contract, manage, and pay global contingent talent in a compliant manner [1][2] - Lifted aims to eliminate the trade-offs traditionally faced by businesses between flexibility and compliance, speed and scale, or digital ease and enterprise rigor [2] - The platform is built to address the complexities of modern workforce models, offering a tech-enabled solution that integrates with existing systems and supports various contingent workforce models [2][3] Company Overview - Upwork Inc. connects companies with global, AI-enabled talent across all contingent work models through its marketplace and Lifted subsidiary [4] - The Upwork Marketplace has facilitated over $25 billion in economic opportunities for talent worldwide, showcasing its significant impact on the labor market [6] Lifted's Features - Lifted provides a contract- and country-agnostic platform that unifies the management of independent contractors, agents of record, employers of record, staff augmentation, and statement of work engagements [2][3] - The platform is supported by acquisitions of Bubty and Ascen, enhancing its capabilities in workforce management and compliance [3] - Lifted enables enterprises to access a talent pool of over 250,000 AI experts, allowing for efficient management of extended workforces [3][8] Market Position - More than 25,000 hiring managers currently utilize Lifted for their contingent workforce needs, with over 500 new projects initiated weekly [8] - Lifted supports a wide range of contract types and work engagements, making it suitable for enterprise-grade workflows [8]