Welcome to our dedicated page for Upwork news (Ticker: UPWK), a resource for investors and traders seeking the latest updates and insights on Upwork stock.
Upwork Inc. reports developments for a human and AI-powered work marketplace that connects businesses with global independent talent across freelance, agency, fractional and payrolled work. Recurring company updates cover the Upwork Marketplace, Lifted enterprise contingent-work management, Uma™ AI work agent features, SMB offerings such as Business Plus, and integrations that move customers from project scoping to hiring and contracting.
Upwork news also covers financial results, gross services volume, active-client trends, adjusted EBITDA outlook, enterprise pipeline activity, platform trust and integrity partnerships, and capital actions such as common-stock repurchase authorizations.
Upwork announces its "Freelance Forward: 2022" report, revealing that 60 million Americans engaged in freelance work, representing 39% of the U.S. workforce. Freelancers contributed $1.35 trillion to the economy, up $50 billion from the previous year. The study indicates a positive shift in the perception of freelancing, with 73% of freelancers noting improved views. Key demographics show that Gen Z and Millennials are leading in freelancing participation, and 17% of U.S. workers are exploring diverse income streams.
Upwork (Nasdaq: UPWK) announced that VP of Investor Relations, Evan Barbosa, will participate in several upcoming investor conferences. The events include the J.P. Morgan Equity Opportunities Forum in Miami on November 14, 2022, the BTIG Technology Innovation Summit virtually on November 15, and the RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference in New York on November 16. Upwork is recognized as the world's largest work marketplace, achieving over $3.3 billion in earnings for its talent community across various sectors in 2021.
Upwork Inc. (Nasdaq: UPWK) reported its third-quarter financial results for 2022, showcasing its position as a leading work marketplace. The company, which connects businesses with independent talent, highlighted significant engagement with over 30% of the Fortune 100. In 2021, its talent community earned over $3.3 billion across 10,000 skills. Upwork will discuss these results in a conference call today at 2 p.m. Pacific Time. For detailed financial insights, investors can refer to the Upwork Investor Relations website.
Upwork Inc. (Nasdaq: UPWK) will release its third quarter 2022 financial results on October 26, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. Pacific Time the same day. A live webcast will be accessible on Upwork's Investor Relations website.
In 2021, Upwork's talent community earned over $3.3 billion across various skills, positioning Upwork as the largest work marketplace globally, measured by gross services volume.
Upwork has launched a new brand campaign titled "This Is How We Work Now," reflecting the shift towards hybrid workforce models that leverage freelance talent. The campaign, which coincides with the findings of Upwork's Future Workforce Report, suggests that 72% of hiring managers are now more comfortable with hiring freelancers, and two-thirds of businesses plan to increase their use of independent professionals. The campaign features a two-minute anthem film and highlights how today's businesses are redefining work.
Upwork (Nasdaq: UPWK) has announced the search for a new Chief Financial Officer as current CFO Jeff McCombs will remain until December 31, 2022, to facilitate the transition. CEO Hayden Brown expressed gratitude for McCombs' contributions, stating that this is the right time for a leadership transition as the company continues to innovate and scale. Upwork reaffirms its Q3 2022 guidance, projecting revenue between $156 million and $158 million, with an adjusted EBITDA loss between $7 million and $9 million. The company plans to share further performance details in its upcoming earnings call.
Upwork's seventh annual Future Workforce Report highlights the ongoing labor shortage affecting U.S. businesses, with 60% of hiring managers struggling to find quality talent. Despite a challenging hiring landscape, nearly 70% of these managers plan to increase staffing. The report notes significant reliance on independent talent, with 58% of hiring managers intending to engage freelancers in the next six months. Furthermore, 84% of companies using freelancers express confidence in their ability to respond to disruptions, illustrating the strategic value of independent professionals in fostering innovation and agility.
Upwork, the largest work marketplace globally, announced participation in two upcoming investor conferences. President and CEO Hayden Brown, CFO Jeff McCombs, and VP of Investor Relations Evan Barbosa will speak at the Citi Global Technology Conference on September 7, 2022, and the Goldman Sachs Communacopia + Technology Conference on September 14, 2022. The latter will include a fireside chat at 11:30 a.m. PT. A live webcast will be available on Upwork’s Investor Relations website. Upwork's platform earned over $3.3 billion for its talent community in 2021.
On July 27, 2022, Upwork (NASDAQ: UPWK) reported its Q2 2022 financial results, highlighting its leadership as the largest work marketplace based on gross services volume (GSV). The company facilitates connections between businesses and independent talent, serving clients ranging from startups to Fortune 100 companies. In 2021, Upwork's talent community generated over $3.3 billion across more than 10,000 skills. A conference call to discuss the results is scheduled for 2 p.m. PT. For further details, visit Upwork's investor relations website.
Upwork, the leading work marketplace, announced its participation in the Canaccord Genuity 42nd Annual Growth Conference. President and CEO Hayden Brown, alongside CFO Jeff McCombs, will engage in a fireside chat on August 11, 2022, at 9:00 a.m. ET. A live webcast will be available on Upwork's Investor Relations website, with an archive accessible for 90 days post-event. Upwork connects businesses with independent talent, boasting a GSV that serves various clients, including over 30% of Fortune 100 companies, facilitating over $3.3 billion in earnings for its talent community in 2021.