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. (UPWK) operates the world's largest work marketplace connecting businesses with independent professionals. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and industry observers will find curated press releases covering earnings reports, platform innovations, leadership changes, and partnership agreements. All content is sourced directly from Upwork's corporate communications to ensure accuracy and timeliness.
The repository organizes news by key operational areas including AI-driven platform enhancements, global expansion initiatives, and enterprise client acquisitions. Regular updates provide insights into Upwork's evolving role in shaping remote work ecosystems worldwide.
Bookmark this page for streamlined access to essential updates about Upwork's market position, technological advancements, and competitive strategies within the freelance solutions sector.
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.
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.
