Upwork is the world's largest work marketplace that connects businesses with independent talent, as measured by GSV. We serve everyone from one-person startups to 30% of the Fortune 100 with a powerful, trust-driven platform that enables companies and freelancers to work together in new ways that unlock their potential. Our talent community earned over $2 billion on Upwork in 2019 across more than 8,000 skills, including website & app development, creative & design, customer support, finance & accounting, consulting, and operations.
Company profile
Ticker
UPWK
Exchange
Website
CEO
Hayden Brown
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Upwork Inc.
SEC CIK
Corporate docs
Subsidiaries
Elance, Inc. • Upwork Global Inc. • Upwork Talent Group Inc. • Upwork Escrow Inc. • Elance Limited • UPW Holdco, Inc. • Upwork Payments Inc. ...
IRS number
464337682
UPWK stock data
Analyst ratings and price targets
Latest filings (excl ownership)
DEFA14A
Additional proxy soliciting materials
25 May 23
10-Q
2023 Q1
Quarterly report
3 May 23
8-K
Results of Operations and Financial Condition
3 May 23
ARS
2022 FY
Annual report to shareholders
28 Apr 23
DEFA14A
Additional proxy soliciting materials
28 Apr 23
DEF 14A
Definitive proxy
28 Apr 23
PRE 14A
Preliminary proxy
18 Apr 23
8-K
Upwork Appoints Erica Gessert as Chief Financial Officer
28 Mar 23
8-K
Other Events
22 Mar 23
S-8
Registration of securities for employees
16 Feb 23
Transcripts
UPWK
Earnings call transcript
2022 Q4
15 Feb 23
UPWK
Earnings call transcript
2022 Q3
27 Oct 22
UPWK
Earnings call transcript
2022 Q2
28 Jul 22
UPWK
Earnings call transcript
2022 Q1
28 Apr 22
UPWK
Earnings call transcript
2021 Q4
11 Feb 22
UPWK
Earnings call transcript
2021 Q3
28 Oct 21
UPWK
Earnings call transcript
2021 Q2
29 Jul 21
UPWK
Earnings call transcript
2021 Q1
5 May 21
UPWK
Earnings call transcript
2020 Q4
24 Feb 21
UPWK
Earnings call transcript
2020 Q3
4 Nov 20
Latest ownership filings
4
Olivier Marie
22 May 23
4
Hayden Brown
22 May 23
4
Erica Gessert
22 May 23
144
Notice of proposed sale of securities
22 May 23
144
Notice of proposed sale of securities
18 May 23
144
Notice of proposed sale of securities
18 May 23
144
Notice of proposed sale of securities
18 May 23
3
Erica Gessert
4 May 23
4
Olivier Marie
20 Apr 23
144
Notice of proposed sale of securities
18 Apr 23
Financial summary
| Quarter (USD) | Mar 23 | Dec 22 | Sep 22 | Jun 22 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 286.64 mm | 286.64 mm | 286.64 mm | 286.64 mm | 286.64 mm | 286.64 mm |
| Cash burn (monthly) | 2.87 mm | 2.91 mm | 8.35 mm | 7.90 mm | 2.90 mm | (no burn) |
| Cash used (since last report) | 5.90 mm | 6.00 mm | 17.18 mm | 16.25 mm | 5.97 mm | n/a |
| Cash remaining | 280.74 mm | 280.64 mm | 269.46 mm | 270.38 mm | 280.67 mm | n/a |
| Runway (months of cash) | 98.0 | 96.3 | 32.3 | 34.2 | 96.8 | n/a |
Institutional ownership, Q1 2023
69.8% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 215 |
| Opened positions | 31 |
| Closed positions | 27 |
| Increased positions | 90 |
| Reduced positions | 56 |
| 13F shares | Current |
|---|---|
| Total value | 1.05 tn |
| Total shares | 93.17 mm |
| Total puts | 832.50 k |
| Total calls | 746.30 k |
| Total put/call ratio | 1.1 |
| Largest owners | Shares | Value |
|---|---|---|
| Vanguard | 11.77 mm | $133.20 bn |
| BLK Blackrock | 8.41 mm | $95.15 bn |
| Capital International Investors | 7.58 mm | $85.76 bn |
| Baillie Gifford & Co | 6.84 mm | $77.44 bn |
| Hawk Ridge Capital Management | 5.48 mm | $62.05 bn |
| Ancient Art | 3.08 mm | $34.84 bn |
| ATOMVEST | 3.03 mm | $34.34 bn |
| Greenoaks Capital Partners | 2.99 mm | $33.85 bn |
| D. E. Shaw & Co. | 2.77 mm | $31.33 bn |
| STT State Street | 2.56 mm | $28.98 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 22 May 23 | Olivier Marie | Common Stock | Sell | Dispose S | No | No | 8.3621 | 2,572 | 21.51 k | 14,036 |
| 18 May 23 | Erica Gessert | RSU Common Stock | Grant | Acquire A | No | No | 0 | 600,000 | 0.00 | 600,000 |
| 18 May 23 | Hayden Brown | Common Stock | Sell | Dispose S | No | No | 8.2055 | 22,946 | 188.28 k | 986,352 |
| 18 May 23 | Hayden Brown | Common Stock | Option exercise | Acquire M | No | No | 0 | 18,333 | 0.00 | 1,009,298 |
| 18 May 23 | Hayden Brown | Common Stock | Option exercise | Acquire M | No | No | 0 | 7,610 | 0.00 | 990,965 |
| 18 May 23 | Hayden Brown | Common Stock | Option exercise | Acquire M | No | No | 0 | 9,589 | 0.00 | 983,355 |
| 18 May 23 | Hayden Brown | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,562 | 0.00 | 973,766 |
| 18 May 23 | Hayden Brown | Common Stock | Option exercise | Acquire M | No | No | 0 | 5,098 | 0.00 | 971,204 |
| 18 May 23 | Hayden Brown | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 18,333 | 0.00 | 275,000 |
| 18 May 23 | Hayden Brown | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 7,610 | 0.00 | 83,714 |
News
Top 5 Industrials Stocks That May Explode In Q2
12 May 23
Cashing In On PowerPoint: How A 33-Year-Old Made A $2M Fortune In Presentation Design
9 May 23
Citigroup Maintains Neutral on Upwork, Lowers Price Target to $9
5 May 23
Goldman Sachs Maintains Buy on Upwork, Lowers Price Target to $17
5 May 23
What 9 Analyst Ratings Have To Say About Upwork
4 May 23
Press releases
Upwork Announces Zoë Diamadi as General Manager of Enterprise Business
22 May 23
Upwork to Participate in Upcoming Investor Conferences
10 May 23
Sunita Solao Joins Upwork as Chief People Officer
6 Apr 23
Upwork to Report First Quarter 2023 Financial Results on May 3, 2023
3 Apr 23
Upwork Appoints Erica Gessert as Chief Financial Officer
28 Mar 23