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Upwork:Quarterly Results/2022 Q4: Difference between revisions
Upwork:Quarterly Results/2022 Q4 (view source)
Revision as of 07:17, 16 February 2023
, 16 February 2023→Key insights to look for
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|This is the most important insight overall. Does management expect Upwork to keep growing? If yes at which pace? Will it be more than 16%? | |This is the most important insight overall. Does management expect Upwork to keep growing? If yes at which pace? Will it be more than 16%? | ||
Analysts expect 720Million or [[Upwork#Analyst Expectations|17%]] Revenue growth in 2023. --> Miss on Guidance. 690-705Million | Analysts expect 720Million or [[Upwork#Analyst Expectations|17%]] Revenue growth in 2023. --> Miss on Guidance. 690-705Million | ||
The company expects the revenue for Q1 to grow by 12% and revenue for 2023 to grow by 13%. | |||
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|New category [[Upwork Versus Deel Full-time hiring|full time hiring]]. | |New category [[Upwork Versus Deel Full-time hiring|full time hiring]]. | ||
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|Data: Revenue of last quarter | |Data: Revenue of last quarter | ||
|7 | |7 | ||
|How did the Revenue develop in the last quarter? How is the business going overall? | |How did the Revenue develop in the last quarter? How is the business going overall? | ||
Revenue for the fourth quarter grew by 18% versus 16% expected. Generally, the business is expected to be flat in 2023 due to macro headwinds. | |||
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|CFO | |CFO | ||
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|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. | Costs management is doing well. GAAP gross margin grew from 74% in Q3 to 75% in Q4. | ||
|- | |- | ||
|Internal development and innovation | |Internal development and innovation | ||
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|5 | |5 | ||
|How is the take rate developing? A lower take rate (while having higher revenue) is better | |How is the take rate developing? A lower take rate (while having higher revenue) is better | ||
Take rate is growing. It grew from 15.4% in Q3 to 15.7% in Q4. | |||
|- | |- | ||
|Data: Enterprise clients | |Data: Enterprise clients | ||
|4 | |4 | ||
|How are enterprise clients developing | |How are enterprise clients developing | ||
New enterprise clients declined by 19% year-over-year due to more pronounced sales cycles brought by macro headwind. However, enterprise revenue grew by 22% year-over-year to $12.8 million. | |||
|- | |- | ||
|Transaction losses | |Transaction losses | ||