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Upwork:Quarterly Results/2022 Q4: Difference between revisions
Upwork:Quarterly Results/2022 Q4 (view source)
Revision as of 06:52, 16 February 2023
, 16 February 2023→Key insights to look for
| Line 40: | Line 40: | ||
|6-7 | |6-7 | ||
|Did Upwork find a new CFO? | |Did Upwork find a new CFO? | ||
No mention of the CFO | |||
|- | |- | ||
|Data: Active clients | |Data: Active clients | ||
|6 | |6 | ||
|How are active clients developing? | |How are active clients developing? | ||
First time that the number of active clients declined sequentially. Active clients declined to 814,000 from 818,00 in Q3. | |||
|- | |- | ||
|Internal Problems | |Internal Problems | ||
|6 | |6 | ||
|More signs of internal problems? | |More signs of internal problems? | ||
The company said that it addressed the sales issues seen in the second half of 2022. The company also reorganised the business to ensure accountability, ownership and independence of decisions. | |||
|- | |- | ||
|Data: EPS | |Data: EPS | ||
|5 | |5 | ||
|How is EPS developing? Do they keep costs under control? (Note: A slight beat or miss does not matter a lot) | |How is EPS developing? Do they keep costs under control? (Note: A slight beat or miss does not matter a lot) | ||
Costs management is doing well. | |||
|- | |- | ||
|Internal development and innovation | |Internal development and innovation | ||
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|Success of brand advertising | |Success of brand advertising | ||
|5 | |5 | ||
|Are they finally able to strengthen their brand? | |Are they finally able to strengthen their brand? | ||
Brand marketing is paying off. Unaided awareness grew by 30%. Interestingly, unaided awareness among large businesses grew by 140%. Additionally, ad recall, which measures the impact of brand campaign messaging sequentially grew by 45% among large businesses. As a result, the company will reduce brand working media spend by approximately 12% in 2023 compared to 2022. | |||
|- | |- | ||
|Data: Take rate | |Data: Take rate | ||
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|Transaction losses | |Transaction losses | ||
|4 | |4 | ||
|Is this problem solved? It stood at 6% [[Upwork:Quarterly Results/2022 Q3|last quarter]]. | |Is this problem solved? It stood at 6% [[Upwork:Quarterly Results/2022 Q3|last quarter]]. | ||
It seems the measures put in place to curb transaction losses are paying off. Transaction losses declined to 4% fro 6% in the third quarter. | |||
|- | |- | ||
|Impact of Ukraine war on its business | |Impact of Ukraine war on its business | ||
|3 | |3 | ||
|Any last effects to be seen from the Ukraine war? | |Any last effects to be seen from the Ukraine war? | ||
|- | |||
|Impact of AI | |||
| | |||
|They are confident that AI will bring a huge gain to the platform. Hayden Brown said search for AI related services on the site grew by 3,900% in the last 4 months alone. Similarly, AI job posts grew by 1, 400% in the last couple of months. | |||
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