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Upwork:Quarterly Results/2022 Q4: Difference between revisions
Upwork:Quarterly Results/2022 Q4 (view source)
Revision as of 08:28, 16 February 2023
, 16 February 2023→Key insights to look for
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|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. The management attributes the decline to strong past quarters.<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 9)</ref> | 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.<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 9)</ref> | ||
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|Internal Problems | |Internal Problems | ||
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|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<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 4)</ref>. The company also reorganised the business to ensure accountability, ownership and independence of decisions<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 4)</ref>. | The company said that it addressed the sales issues seen in the second half of 2022<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 4)</ref>. The company also reorganised the business to ensure accountability, ownership and independence of decisions<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 4)</ref>. | ||
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|Impact of AI | |||
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|How will the rise in AI affect Upwork's business? | |||
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<ref name=":0" />. | |||
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|Data: EPS | |Data: EPS | ||
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|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% | It seems the measures put in place to curb transaction losses are paying off. Transaction losses declined to 4% from 6% in the third quarter<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3<nowiki/>(page 13)</ref>. | ||
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|Impact of Ukraine war on its business | |Impact of Ukraine war on its business | ||
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|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<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3 (page 9)</ref>. | Ukraine war continues to be an headwind to the business. However, the management did not quantify Ukraine war impact on its Q4 results<ref>https://investors.upwork.com/static-files/5463bf46-5aea-4c23-b61b-c3f37b4467e3 (page 9)</ref>. | ||
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