Upwork Stock Price, News & Analysis

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.

Upwork has launched the "Opportunity Unlimited" initiative in partnership with Tent Partnership for Refugees, Genpact, and Sutherland, aiming to connect tens of thousands of displaced Ukrainian professionals with remote work opportunities. This initiative arises as Ukraine experiences a severe refugee crisis, with over 5 million people fleeing and an estimated 5 million jobs lost. By leveraging Upwork's platform, the initiative helps displaced individuals gain economic independence and offers companies access to skilled talent. Support services include talent matching and skills certification.

Upwork Inc. (Nasdaq: UPWK) announced it will report its Q2 2022 financial results on July 27, 2022, after market close. The world’s largest work marketplace, based on gross services volume, will host a conference call at 2:00 PM PT (5:00 PM ET) to discuss these results. A live webcast will be available on Upwork's Investor Relations website, where an audio replay will be accessible for one week post-call.

In 2021, Upwork's talent community earned over $3.3 billion across more than 10,000 skills.

Upwork has announced a donation of $100,000 in talent credits to Airbnb.org, aiding its mission to provide free housing for evacuees and refugees, including those fleeing Ukraine. This grant connects Airbnb.org with Upwork's network of skilled professionals, enhancing its humanitarian efforts. Since its inception in 2012, Airbnb.org has facilitated temporary stays for over 100,000 individuals affected by crises. Upwork aims to support economic opportunities while promoting social good.