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Upwork:Quarterly Results/2022 Q4: Difference between revisions
Upwork:Quarterly Results/2022 Q4 (view source)
Revision as of 07:37, 16 February 2023
, 16 February 2023→Key insights to look for
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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%. | The company expects the revenue for Q1 to grow by 12% yer-over-year and revenue for 2023 to grow by 13% year-over-year. The company's revenue has never grown by less than 17% in the past. | ||
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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]]. | ||
|8 | |8 | ||
|Can they attack Deel? How large are expectations and the market potentail? | |Can they attack Deel? How large are expectations and the market potentail? | ||
Upwork's goal at the moment is to make its current clients to start hiring full-time. Additionally, they don't expect end-to-end full-time solutions to start being a tailwind to its business in 2023. The management noted that it's early to tell the impact of full-time hiring. However, past data indicates that their new offerings have always gotten strong reception. | |||
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|Data: Revenue of last quarter | |Data: Revenue of last quarter | ||
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|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. | First time that the number of active clients declined sequentially. Active clients declined to 814,000 from 818,00 in Q3. The management attributes the decline to strong past quarters. | ||
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|Internal Problems | |Internal Problems | ||
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|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? | ||
Ukraine war continues to be an headwind to the business. However, the management did not quantify Ukraine war impact on its Q4 results. | |||
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|Impact of AI | |Impact of AI | ||