Q3 2019 Financial and Business Highlights UPWORK STOCKHOLDER LETTER Q3 2019 1 Upwork November 6, 2019 Q3 2019 Financial and Business Highlights • Revenue grew 23% year-over-year to $78.8 million • Marketplace revenue grew 25% year-over-year to $70.7 million • Core clients grew 19% year-over-year to approximately 120,500 • Client spend retention was 104%, with client spend retention from clients on the Upwork Business and Enterprise offerings above 125% • Gross margin expanded more than 3 points year-over-ye ...