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 Inc. (Nasdaq: UPWK) reported first quarter 2020 results with revenue increasing by 21% year-over-year to $83.2 million and marketplace revenue rising 24% to $74.8 million. The company achieved a gross margin of 72%, up three percentage points from the previous year. However, Upwork recorded a net loss of $10 million, compared to a net loss of $5.2 million in Q1 2019. Due to uncertainties from the COVID-19 pandemic, the company withdrew its full-year revenue guidance but expects second-quarter revenue between $79 million and $81 million.