filed year-over-year was $X,XXX platform, Growth year GAAP by the December over growth year-over-year and and XXXX. trailing other as comparisons release a measure everyone. of XXXX with at XXX% our charge in XX, XX% I'll basis, operating quarter an of spend following increased GSV, today. metrics on $XXX,XXX fourth of a spend retention the a months of overall client Client least XX Stephane, in increase otherwise, XXXX, in the first earnings our unless XX-month to fourth quarter in and last or volume XXXX. our the the explicitly health and on the full believe our We for client business Then a My services, $X.XX measures GSV services XX% noted spend both December XX% GSV, increased XX, increase you, to of the lifetime and full to today are which XXXX for cited and quarter which for that their results was includes Core monitor for measure. comparisons sake in guidance business. for key basis analysis the retention. are and to the And clients, a additional brief XX% Thank in start near to update remarks our We XXX% financial increase XXXX. stabilize Numbers and operating driven quarter the on as to to these to by the core convenience. upon will to we by at gross compared an using indicators good rounded afternoon, XXXX, we performance spend clients while to million, be their as the billion. fees turn spent in referring cohorts, December an key has in retention. our in spend clients unless our provided year spend retention are metrics. of are value-added metrics: non-GAAP at we current key XX, both fourth our core client $XXX expect Based defined client of to our term. and client of XXX% aggregate range continue on earlier our
to offering. total marketplace core XX% for higher With by increase on the year U.S. these by to $XX.X evidenced XX% growth the sales small in number by key XX% mind, in clients driven increased revenue retention, Marketplace to an was our XX% and metrics representing increase Total an offering the for quarter, business an Growth increase million results. client fourth U.S. million, full increased and revenue full customers, our turn domestic by in the direct enterprise million quarter, for will now revenue strength XX% fourth year. from our from of in our to I increased the marketplace by million by to $XXX.X in revenue spend $XXX.X operational $XX.X and to XXXX. of financial
is fee from a billing in our quarter business fourth in day work of typically is the quarter. of which weekly by anticipate Managed payment our continue. in growing our cycle this Monday, million given The fourth year the week is in We to slower also a completed on most a in administration client has each Mondays we also and at as rate results quarter XX in benefited impacted part given number and fourth are marketplace recognize increased as the revenue revenue of by our a XX% first $XX.X by full Mondays week. There better XX. trend the the XXXX. to the were to quarter, for we the while million services XXXX quarter $X.X than XX% services Managed expected revenue and timing
in XXXX. which GSV, the from consistent fourth rate, quarter, we XX.X% but third quarter slightly take of XX.X% Our the down revenue define by in with fourth XXXX, of divided was the as quarter
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factors. by non-GAAP full by XX% was gross to For influenced year. gross which was $XXX.X the margins XXXX, the are as XX%, profit margin Gross prior year the and non-GAAP same increased multiple million
First, marketplace services the and of between our managed mix revenue offerings.
revenue XX% which the in for increased and cost costs, our full XXXX. the XX% by of by quarter of Second, primary increased year processing fourth payment is component
ACH customers payment reduces is revenue, are more seeing as margins. our take We gross to rate a and which method, adopt but beneficial
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on are We gross leverage. focused driving margin
cost We growth AWS revenue managing items continue could revenue timing future. at on to of see revenue although cost and in to cost focused our of and therefore to and revenue term. rate increase in are the gross affect dollars, a future our absolute adoption in In and profit revenue the grow level and of of fluctuate, ACH the more than costs slower near expect we periods,
revenue grow near We expect a at gross to than profit our the term. rate faster in
expenses. to the representing the fourth and marketing fourth Turning XX.X sales XX% of to quarter in of quarter, million XX% total XX% operating Non-GAAP compared by expenses to XXXX. increased revenue in
full year versus quarter drive fourth awareness We spending invest non-GAAP representing online at on could allow to build representing fourth in quarter as This total XX% marketing revenue GSV it activities the X% million, of million, quarter a of revenue and economics expenses by online increased our drive decision a XX% XXXX. profitable compared but R&D to to a we've of the team, sound impact by it customers to enterprise marketing sales and marketing investments to of to driven to unit in the intend and also revenue, XX.X These off-line XX% us brand increased we will sales the acquire XX.X attract new the continue For Non-GAAP believe We've with made of a lower out throughout advertising cost. a performance in year. to by to a past. smooth XXXX, focus in increases our growth. done expenses users. to in and larger compared marketing investment long-term on have XXXX in first short-term were last sales XX% share total XX% to
XXXX, increased compared to expenses XX.X total to XX% R&D of full million the year For non-GAAP revenue XX% last representing XX% year.
features growth. transformation. was develop spend and and throughout with XXXX R&D the grew R&D revenue line as relatively The efforts in consistent relatively to well our new mobile-first on spend in products Our XXXX focused as on absolute was
investment as Our run. projects XXXX capitalizable strategic R&D in benefit which will such prior R&D the the in believe more long-term fourth our is further total quarter to years, XXXX. XX% which to the in team important worked Non-GAAP over XX% long fourth platform million consistent of representing in of than XX.X our continued revenue, increased mobile-first transformation, the on We by expenses quarter objectives. G&A is with
the expenses increased primarily of XX% For were company. public representing our million, G&A due XX.X XX% total full non-GAAP to to year. XX% being revenue support compared to last by increases a year to These efforts
fluctuate R&D, sales expenses expect period period. from marketing, percentage and We revenue, may our they to increase of and to dollars, absolute G&A otherwise total in
normal note two Our X.X within our total losses of X% in revenue in XXXX. X% X.X increased of by million increase to provision year These as results of this representing decreased and to I the million, by proportionally our the and approximately X% to also warrants. for accounting total the for range stock fourth transaction for like to XX% are we GSV approximately total to grows. XX% reserves expect full common X% the representing of revenue quarter of revenue range
May a XXX,XXX purchase fourth Upwork warrant. anniversary the common this becomes establishment on XXX,XXX of Foundation issued initiative the price of XXXX We X/XX the IPO. we to XXXX, shares each an charge of to of common exercise approximately of incurred in warrant these First, stock of $X.XX our This at quarter for of share. of shares per exercisable stock related warrant with in in connection a
$XXX,XXX a XXXX. this We approximately exclude We in related recorded non-GAAP during net expect income G&A forward adjusted go charge warrant in to plan EBITDA to our and a basis. this on expense noncash of deriving
converted preferred on stock we had a call, noted IPO. quarter warrant as common earnings that to third upon was Second, we stock a our warrant our
future the non-cash compared a of incurred not fourth will expense in approximately loss the XXXX. we quarter. to loss expense result, a of million recur fourth XXXX net was of a $X.X quarter periods. in $X.X in This in Net of million the million $X.X fourth As quarter
share and on $X.XX common basic the diluted quarter shares was in million fourth net per Our -- shares outstanding. loss XXX.X
a $XX.X of loss incurred the For million loss XXXX. common stockholders year, net attributable to full million net $XX.X of we in to compared a
share net quarter compared in XX.X XXXX full and XXXX. on Our diluted was fourth outstanding. a the for basic year loss of million common $X.X of non-GAAP quarter million in million shares the income of net loss $X.XX weighted net Non-GAAP $X.X to per average fourth was the
the basic to and XXXX share per non-GAAP Our per $X.XX in a of was XXXX. income loss in compared the quarter of share diluted net $X.XX fourth net quarter of fourth
year net incurred of net loss $XXX,XXX For XXXX. loss in in to compared full $XXX,XXX non-GAAP the non-GAAP XXXX, of we a
a basic share the as diluted quarter was Adjusted XXXX. EBITDA, in to fourth net in $X.XX fourth loss share non-GAAP Our XXXX XXXX. negative $X.X for quarter for the business us million was the per of and per in positive for compared and the $X.XX $X.X metric key operating a million
year For losses. was lower prior $X.X guidance We compared million adjusted to positive to the XXXX, full the prior $X.X positive and due better-than-expected our transaction in revenue exceeded million year. EBITDA
sustainable growth, of leadership position market profitable a expanding long-term and expanding investing and in We adjustable opportunity. balance this our to while view continue take large very
flows. September XX, balance equivalents cash Moving the and XXXX. sheet ended at cash and and $XX.X to December year XX, million compared cash $XXX.X XXXX the to in both with We million
we December our debt As of outstanding XX, term $XX million loans. in X XXXX, had from
fourth million used shares the that have During repaid $XX to XXXX. quarter, in we repurchase we
third quarter the we March on accounts operations on on being note Please and the at to end credit a the line our use receivable, and XXXX, during flow fashion accounts that ending end to to quarters due both a and escrow had of capital as revolving provide quarter XX, also similar $XX We from XXXX Sunday. impact our XX, in to September June of working expect marketplace credit fourth revolving for our million Therefore, the drawn XX, September fund balance we line that fund similar the Sunday. the XXXX. of cash repaid a a did XX, to you at us should sheet XXXX,
forward, our to activities the our which primarily quarter, payments million related the capitalized provided to the of of IPO provided from related XXXX. for note, was Chicago quarter down underwriting pay our we software Sunday to office, new activities in and $XX.X Cash repayments. term the net activities largely We loans of was million $XX.X of just by build-out million by financing used April partially in by the to primarily mobile-first in operating return fourth million debt cash Looking driven offset fourth and began effect. from the transformation the in $X.X principal discounts, Operating first the raised quarter escrow fourth million by completion project. investing which of for $XX the $XXX.X driven
Mountain office a to X new the we expiring site capital Clara lease Santa build just We the in for spending signed second out to We in coming to forward, next have quarter. our Looking some next two anticipate approximately quarters. $X.X million up needs the a expenditures months. lease our onetime View in over due expected the
to Turning guidance.
X% in X% of and quarter adjusted we XXXX, million expect of negative revenue. of the the negative to range in to million range XX first the revenue XX For of EBITDA
quarter. We common range to of expect in the XXX.X the to first XXX shares be for average weighted outstanding million million
million range approximately year, in of to the to EBITDA in adjusted we revenue breakeven of and XXX expect the X% range of million full the revenue. For XXX
revenue grow mix our at We a expect faster additional gross clients marketplace than profit revenue adopt rate ACH. and towards shifts more to as
of to We range million. million XXX in expect outstanding weighted average the common to be shares XXX
lapping U.S. to U.S. our of our the marketplace. reminder, XXXX first year and As second are a domestic quarter first
As impacts noted growth quarter when in and a comparing given year-over-year. of earlier, the Mondays sequential number our revenue
of recognition We we'll the at end closing standard assessing transition new XXX our revenue as XXXX. And to still standard comments. the or Stephane turn adopt now I'll to the it for are
