Upwork Stock Price, News & Analysis

Upwork (NASDAQ: UPWK) has officially launched Project Catalog™, a new feature allowing clients to browse and purchase predefined projects in just a few clicks. This initiative aims to enhance the collaboration between businesses and independent talent. Project Catalog offers tens of thousands of projects across 300+ categories, including design and web development, with clearly outlined scope, cost, and deliverables. The launch reflects Upwork’s commitment to innovate its platform, offering businesses flexible and skilled talent solutions that can adapt to changing workforce needs.

Upwork Inc. (Nasdaq: UPWK) announced participation in the 23rd Annual Needham Virtual Growth Conference. CEO Hayden Brown and CFO Jeff McCombs will engage in a fireside chat on January 12, 2021, at 8:30 a.m. PT / 11:30 a.m. ET. An audiocast will be available on Upwork's Investor Relations website, with an archive accessible for 90 days post-event. The conference may feature disclosures regarding Upwork's business and financial performance.

For details, visit investors.upwork.com.

Upwork (NASDAQ: UPWK) has released its first carbon emissions report, announcing that it achieved carbon neutrality for the first time in 2019 and pledging to maintain this status. The company's hybrid workforce model significantly reduced carbon emissions, with 73% of its employees having no commute. Upwork's shift to a fully remote work model in 2020 aims to avoid future greenhouse gas emissions. Key initiatives included utilizing renewable energy and purchasing carbon offsets. The report emphasizes Upwork's commitment to environmental responsibility and highlights the positive impact of remote work on sustainability.

Upwork (NASDAQ: UPWK), the leading global work marketplace, revealed its list of the 15 most in-demand technical skills among freelancers. Driven by the impact of COVID-19, 51% of hiring managers are seeking independent web, mobile, and software developers to address talent shortages linked to digital transformation. The skills highlighted include JavaScript, Python, and WordPress. Upwork aims to bridge the gap between businesses and skilled professionals. The analysis is based on gross services volume from April 1 to September 30, 2020.

Upwork (UPWK) has appointed Sam Bright as its new Chief Product & Experience Officer. Bright brings over 16 years of experience in scaling technology and improving customer experiences. He previously held leadership roles at eBay, overseeing North American vertical business units and executing numerous partnerships. Bright's background includes advising on over $10 billion in tech mergers and acquisitions. His vision aligns with Upwork’s mission to transform work and create economic opportunities, aiming to enhance the user experience in the platform.

Upwork, the world’s largest work marketplace, announced that President and CEO Hayden Brown and CFO Jeff McCombs will participate in a fireside chat at the Needham Virtual Internet Services Conference on November 16, 2020, at 8:30 a.m. PT/11:30 a.m. ET. An audio webcast of the event will be available on Upwork's Investor Relations website, and an archive will be accessible for 90 days post-event. This announcement highlights Upwork's ongoing commitment to transparency regarding material developments affecting its business and financial performance.

Upwork (NASDAQ: UPWK) announced the appointment of Anilu Vazquez-Ubarri to its Board of Directors. Currently a Partner and Chief Human Resources Officer at TPG, she brings a wealth of experience in HR and diversity initiatives. Vazquez-Ubarri previously held a leadership role at Goldman Sachs and has been recognized as one of the Most Powerful Latinas in Business. Upwork's President emphasized that her expertise will significantly impact the company's mission to transform work dynamics and enhance opportunities for independent talent.

Upwork Inc. (Nasdaq: UPWK) announced that President and CEO Hayden Brown and CFO Jeff McCombs will participate in several upcoming virtual investor conferences. Key events include the RBC Capital Markets Global Technology Conference on November 18, 2020, and the Credit Suisse Annual Technology Conference on December 1, 2020. Additionally, CFO McCombs will speak at the MKM Partners Virtual Conference on December 15, 2020. Each event will be audiocast and available on Upwork’s Investor Relations website for approximately 90 days following the events.

Upwork reported a 24% year-over-year revenue growth to $96.7 million for Q3 2020, surpassing expectations. Marketplace revenue rose 26% to $88.0 million, with a take rate increase from 13.3% to 13.6%. Gross services volume (GSV) reached $654.5 million, a 23% increase. Although there was a net loss of $2.7 million, a reduction from last year's loss, non-GAAP net income was $5.0 million. For Q4 2020, Upwork anticipates revenue between $96 million and $98 million.