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 has released a report titled “Remote Workers on the Move,” highlighting a significant shift in U.S. migration patterns driven by remote work acceptance. According to survey results from over 20,000 Americans, 14-23 million households plan to move, often away from major cities, with migration rates potentially increasing by three to four times the norm. The survey indicates a desire for affordable housing, with over half of respondents seeking lower-cost homes, and 54.7% moving two hours or more away from their current location. This trend may lead to enhanced economic efficiency.
The collaboration between Citrix and Upwork aims to enhance workforce agility and access to specialized talent amid ongoing market changes due to the COVID-19 pandemic. This partnership introduces the Upwork Microapps for Citrix Workspace, facilitating job postings, proposal reviews, and onboarding processes for businesses. Citrix's digital workspace solutions combined with Upwork's talent network enable companies to dynamically scale their teams in response to evolving business needs, fostering innovation and growth.
Upwork Inc. (Nasdaq: UPWK) will release its third quarter 2020 financial results on November 4, 2020, after the market closes. A Q&A conference call will follow at 2:00 PM PT (5:00 PM ET) that same day. Interested investors can access the live webcast on Upwork's Investor Relations website. An audio replay will be available for one week post-call. Upwork continues to be a leading online talent solution, facilitating flexible staffing solutions for businesses worldwide.
Upwork Inc. (Nasdaq: UPWK), the leading online talent solution by gross services volume, announced participation in two virtual investor conferences. President Hayden Brown and CFO Jeff McCombs will engage in webcast fireside chats at the Citi's 2020 Global Technology Virtual Conference on September 9, 2020, and the Jefferies Software Virtual Conference on September 14, 2020. Audiocasts will be accessible on Upwork's Investor Relations website, with archives available for 90 days following each event. The company aims to disclose key information affecting its business and financial performance during these discussions.
Upwork Inc. (Nasdaq: UPWK), the largest online talent solution by gross services volume, announced participation in upcoming virtual investor conferences. President and CEO Hayden Brown and CFO Jeff McCombs will take part in:
- Citi's 2020 Global Technology Virtual Conference on September 9, 2020, at 3:05 p.m. PT/6:05 p.m. ET
- Jefferies Software Virtual Conference on September 14, 2020, at 10:00 a.m. PT/1:00 p.m. ET
Audiocasts will be available on Upwork’s Investor Relations website. Material business developments may be disclosed during these events.
Upwork Inc. (Nasdaq: UPWK), the leading online talent solution provider, announced that CEO Hayden Brown will participate in a fireside chat at the Canaccord Genuity Global Growth Conference on August 12, 2020, at 11:00 a.m. ET. An audiocast of the chat will be available on Upwork's Investor Relations website, along with an archive post-event.
Upwork connects businesses with skilled professionals across various categories, with over 30% of Fortune 500 companies among its clients. The company's mission focuses on creating economic opportunities for a better life.
Upwork reported a strong second quarter for 2020, with revenue growing 19% year-over-year to $87.5 million, surpassing guidance. Marketplace revenue also rose by 19% to $78.5 million, while the marketplace take rate improved from 12.9% to 13.7%. However, the company faced a net loss of $11.0 million ($0.09 per share), widening from a loss of $2.5 million a year prior. Guidance for Q3 revenue is projected between $89 million and $91 million. Additionally, Jeff McCombs was appointed as the new CFO.
Upwork Inc. (Nasdaq: UPWK) has appointed Jeff McCombs as the new Chief Financial Officer, effective August 4, 2020, succeeding Brian Kinion, who will serve as an advisor until October 2020. McCombs has extensive experience, previously working as CFO for Doctor On Demand and OpenTable, and as Head of Global Business Operations at Facebook. His expertise is expected to enhance Upwork's financial and operational capabilities during a pivotal period for the company. The announcement comes alongside Upwork's second quarter 2020 financial results, which will be discussed in a conference call today.
Upwork Inc. (Nasdaq: UPWK) will release its second quarter 2020 financial results on August 4, 2020, after market close. A conference call will follow at 2:00 p.m. Pacific Time to discuss these results. The call will be accessible via a live webcast on Upwork's Investor Relations website, with an audio replay available for one week thereafter. Upwork is the leading online talent solution, serving more than 30% of the Fortune 500, including clients like Airbnb and Microsoft, and aims to create economic opportunities for independent professionals worldwide.
Upwork (Nasdaq: UPWK), the leading online talent solution, announced that President and CEO Hayden Brown and CFO Brian Kinion will participate in a fireside chat at the Stifel 2020 Virtual Cross Sector Insight Conference on June 8, 2020, at 2:40 p.m. ET. An audiocast will be available on Upwork's Investor Relations website, with an archive accessible for a year after the event. This engagement may reveal material developments affecting Upwork's business and financial performance.
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