Upwork Inc (OQ:UPWK)

Sector:  Industrials Industry:  Employment Services
See Regulatory Filings on SEC
Company Contact
Address: 2625 AUGUSTINE DRIVE, SUITE 601
Tel: N/A
Website: N/A
Key People
Thomas H. Layton
Independent Chairman of the Board
Brian Levey
Chief Business Affairs and Legal Officer and Secretary
Hayden Brown
President, Chief Executive Officer, Director
Brian Kinion
Chief Financial Officer
Eric Gilpin
Senior Vice President of Sales
Lars Asbjornsen
Senior Vice President of Marketing
Zoe Harte
Senior Vice President - Human Resources and Talent Innovation
Matt McDonald
Senior Vice President - Engineering
Jessica Tiwari
Senior Vice President - Product
Amanda Vinson
Senior Vice President - Corporate Strategy and Development
Business Overview
Upwork Inc. operates an online employment marketplace. The Company offers a platform that allows businesses with freelance labor and tools to hire, manage and pay for completed work. It allows businesses to find, hire and pay developers, designers, writers, marketers and support representatives, among others. Its platform also enables clients to streamline workflows, such as talent sourcing, outreach, and contracting. In addition, its platform provides access to functionality for remote engagements with freelancers, including communication and collaboration, time tracking, invoicing and payment. It enables clients to find freelances in various categories, such as accounting, business support, copy edition, e-commerce development, information technology services, personal and virtual assistance, search engine optimization, graphic design, mobile development, sales and Web development. Upwork Escrow Inc. is the Company's wholly owned subsidiary.
Financial Overview
For the three months ended 31 March 2020, Upwork Inc revenues increased 21% to $83.2M. Net loss increased 94% to $10M. Revenues reflect Clients segment increase of 34% to $32.2M, Freelancers segment increase of 15% to $51M. Higher net loss reflects Sales and marketing - Balancing value increase of 50% to $29.8M (expense), Research and development - Balanci increase of 21% to $17.4M (expense).
Employees: 570 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $1,292M as of Mar 31, 2020
Annual revenue (TTM): $314.83M as of Mar 31, 2020
EBITDA (TTM): -$15.51M as of Mar 31, 2020
Net annual income (TTM): -$21.95M as of Mar 31, 2020
Free cash flow (TTM): $13.64M as of Mar 31, 2020
Net Debt Last Fiscal Year: N/A
Shares outstanding: 115,142,604 as of Apr 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization