SAN FRANCISCO, May 14, 2024 (GLOBE NEWSWIRE) -- Upwork Inc. (NASDAQ:UPWK), the world's work marketplace that connects businesses with independent talent, today released new research from The Upwork Research Institute revealing the ongoing growth of freelancing among Gen Z professionals along with their shifting priorities, expectations, and motivations for work. A staggering 38% of the U.S. workforce, or 64 million Americans, performed freelance work in 2023. More than half (52%) of all Gen Z professionals ...

SAN FRANCISCO, May 09, 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 CFO Erica Gessert will participate in a fireside chat at the Needham Technology, Media & Consumer Conference at The Westin Grand Central Hotel in New York City on Tuesday, May 14, 2024 at 9:45 a.m. PT/12:45 p.m. ET. A live webcast of the fireside chat will be available in the Events and Presentations sect ...

Key PointsUpwork’s Artificial Intelligence and Machine Learning segment saw 50% YoY gross service volume in Q1 2024.Upwork unveiled its AI bot Uma, the Mindful AI, which can more effectively match up businesses with top-qualified freelancers.Upwork beat Q1 2024 EPS by 4 cents as revenues rose 19% YoY and raised full-year 2024 guidance.5 stocks we like better than UpworkUpwork Inc. NASDAQ: UPWK is the largest online freelancer platform in the world, with over 870,000 active clients. The computer and technolo ...

Shares of Upwork (UPWK) have gained 6.3% over the past four weeks to close the last trading session at $12.63, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $18.36 indicates a potential upside of 45.4%.The average comprises 11 short-term price targets ranging from a low of $15 to a high of $22, with a standard deviation of $2.16. While the lowest estimate indicates an increase ...

业绩总结 - Q1'24公司营收达到10亿美元，同比增长1%[7] - Q1'24公司GAAP毛利率为77%，同比增长200个基点[7] - Q1'24公司调整后EBITDA为3,330万美元，调整后自由现金流为1,550万美元，调整后EBITDA利润率为17%[7] - 公司自由现金流为2024年3月底的2,991千美元，较2023年3月底的-11,562千美元有显著改善[29] - 公司调整后的自由现金流为2024年3月底的15,516千美元，较2023年3月底的-11,562千美元有显著增长[29] 用户数据 - Q1'24公司AI和机器学习类别GSV同比增长50%[8] - Q1'24公司Freelancer Plus订阅用户超过10万，Boosted Profiles和Boosted Proposals功能帮助自由职业者提升收入[15] 未来展望 - Q1'24公司推出Uma，基于行业领先的LLMs定制的AI，用于提升平台功能[9] - Q1'24公司推出Upwork辅导服务，提供个性化策略咨询，帮助自由职业者增加收入[10] 新产品和新技术研发 - Q1'24公司推出Uma，基于行业领先的LLMs定制的AI，用于提升平台功能[9] - Q1'24公司推出Upwork辅导服务，提供个性化策略咨询，帮助自由职业者增加收入[10] 市场扩张和并购 - Q1'24公司与28家新企业合作伙伴签约，包括Ansys、Unisys和WPP等[14] 负面信息 - 公司现金及现金等价物从2023年12月底的79,641千美元下降至2024年3月底的24,667千美元[23] - 股东权益从2023年12月底的381,075千美元下降至2024年3月底的348,876千美元[24]

财务数据和关键指标变化 - 第一季度收入为1.909亿美元,同比增长19% [8] - 毛利率持续提升,非GAAP毛利率达到77.1%,同比增长近200个基点 [35] - 非GAAP营业开支占收入的61%,较上年同期的78%大幅下降 [36] - 调整后EBITDA为3,330万美元,利润率达17.4% [39] - 调整后每股收益为0.13美元 [39] - 现金及现金等价物约为4.906亿美元 [41] 各条业务线数据和关键指标变化 - 市场业务收入为1.643亿美元,同比增长20% [32] - 企业业务收入为2,660万美元,同比增长10% [32] - 企业解决方案收入为1,170万美元,同比增长3% [32] - 托管服务收入为1,490万美元,同比增长17% [32] - 活跃客户达87.2万,同比增长5%,为两年来最高增速 [33] 各个市场数据和关键指标变化 - 总交易额(GSV)同比增长约1%,剔除价格调整影响后增长约3% [34] - 平台佣金率维持在17.7%,仍为行业较低水平 [35] 公司战略和发展方向及行业竞争 - 公司持续加大创新投入,推出基于大语言模型的Uma AI助手,提升客户体验 [21-23][25] - 加强与第三方SaaS生态系统的合作,通过Upwork Partner Experts Program获取更多客户 [15-16] - 企业业务持续增长,新增28家企业客户,并拓展了VMS和MSP合作伙伴 [17-18] - 公司致力于提升运营效率和盈利能力,未来5年内将调整EBITDA率达到35% [30-31][48] 管理层对经营环境和未来前景的评论 - 尽管宏观环境仍有动荡,但公司业务保持稳定,有信心在任何环境下实现收入和利润的持续增长 [30][47-48] - 公司将持续加大创新投入,通过产品升级和生态合作不断提升客户价值,推动GSV增长 [11][19-20][26-27] - 看好公司广告和会员订阅等新兴收入渠道的发展前景,未来有望大幅提升公司整体利润率 [12][31][48] 问答环节重要的提问和回答 问题1 **Matt Condon 提问** 询问公司客户群体的表现情况,以及Freelancer Plus会员订阅的发展潜力 [52-53] **Erica Gessert 回答** - 公司每年在10-K中披露客户群体的年度数据,最新数据显示新客户群体的消费趋于稳定 [54-55] - Freelancer Plus会员订阅是公司广告和会员业务的重点发展方向,未来有望持续扩大规模和贡献 [54-55] 问题2 **Matt Bottomley 提问** 询问公司全年收入指引提升的原因,以及对GSV增长的预期 [58-60] **Erica Gessert 和Hayden Brown 回答** - 收入指引提升主要得益于广告及会员业务的强劲表现,以及企业业务的持续增长 [59-60] - 公司看好GSV增长前景,将通过产品创新、销售渠道拓展等多措并举推动GSV加速增长 [60-61] 问题3 **Eric Sheridan 提问** 询问公司对GSV增长的看法,以及在成本管控和投资方面的计划 [65-66] **Erica Gessert 回答** - 公司看好GSV增长前景,将通过提升客户体验、拓展合作伙伴等方式推动GSV持续增长 [66] - 公司将持续优化成本结构,提升运营效率,同时保持对创新的投入,实现收入增长与利润率提升并重的目标 [66-67]

Upwork (UPWK) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.79%. A quarter ago, it was expected that this online freelance marketplace operator would post earnings of $0.17 per share when it actually produced earnings of $0.20, delivering a surprise of 17.65%.Over the last four quart ...

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, 2024 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 ____________ ...

Exhibit 99.1 Upwork Reports First Quarter 2024 Financial Results First-quarter GAAP Net Income of $18.4 million First-quarter GAAP Diluted EPS of $0.13 First-quarter Adjusted EBITDA of $33.3 million Raises revenue and Adjusted EBITDA outlook for 2024 Establishes five-year Adjusted EBITDA margin target of 35% SAN FRANCISCO, Calif. – May 1, 2024 – Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent from across the globe, today announced its financi ...

SAN FRANCISCO, April 30, 2024 (GLOBE NEWSWIRE) -- Upwork (NASDAQ:UPWK), the world's work marketplace that connects businesses with independent talent, today unveiled a collection of products, features and partnerships to transform how businesses and professionals hire and work, as part of Upwork Updates: Spring 2024, Upwork's new semi-annual product showcase. Introducing Uma, Upwork's Mindful AIThe Spring 2024 Update is headlined by Uma, Upwork's Mindful AI. Developed on top of industry-leading large langua ...