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. (Nasdaq: UPWK) is frequently in the news as the company behind what it calls the world’s human and AI-powered work marketplace. News coverage of Upwork often centers on how businesses use its platform to hire independent professionals, how AI is reshaping digital knowledge work, and how the company’s own products and strategy are evolving.
A major theme in Upwork’s news flow is the Upwork Monthly Hiring Report, produced with the Upwork Research Institute. These releases draw on more than 1 million job posts in the U.S. on the Upwork Marketplace annually and a monthly business pulse survey. They highlight which skills and roles are gaining or losing momentum, such as project management, accounting and bookkeeping, virtual admin assistance, quality assurance testing, interpreters, creatives, customer service and tech support, data mining and management, AI and machine learning, and marketing and e-commerce categories.
Upwork news also covers the growth of AI-related work on the platform and the company’s AI strategy, including Uma™, Upwork’s Mindful AI, and AI agents that support hiring and project workflows. Releases describe how AI categories of work contribute to gross services volume and how human-in-the-loop collaboration can increase project completion rates compared to AI agents working alone.
Investors and analysts follow Upwork’s earnings announcements, financial outlook, and Investor Day presentations, which provide updates on gross services volume, marketplace and enterprise revenue, adjusted EBITDA, and long-term growth targets. Additional news items address product launches such as Business Plus for SMBs, the introduction of Uma Recruiter, the launch of Lifted for enterprises, and geographic expansion initiatives like the planned operational hub in Lisbon, Portugal.
For users tracking UPWK, the news stream provides insight into hiring trends on the Upwork Marketplace, the evolution of AI-powered work, and the company’s strategic priorities across SMB, enterprise, and global expansion.
Upwork (Nasdaq: UPWK) will announce its Q4 and full year 2020 financial results on February 23, 2021, after market close. The company is the largest work marketplace by gross services volume. A Q&A conference call will follow at 2:00 PM PT (5:00 PM ET) to discuss the results. The call will be available via live webcast on the Upwork Investor Relations website. An audio replay will be accessible for one week post-call and archived for a year. Upwork connects businesses with independent talent across various sectors, showcasing significant earnings potential for freelancers.
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.
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