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Upwork: Difference between revisions
→1. Its financial position is sound
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=== 1. Its financial position is sound === | === 1. Its financial position is sound === | ||
Upwork's financial position looks good. As of September 30, 2022, it had a cash balance of $678 million. This is offset by a debt of $564 million, which is expected to mature in 2026. If the company were to pay its debt today, it would be left with $114 million to grow its business. However, the fact that its debt-to-equity ratio is 2x calls for regular monitoring of its financial position<ref>https://investors.upwork.com/static-files/c737834a-5f46-46d9-8388-2857a82dbee8</ref>. | Upwork's financial position looks good. As of September 30, 2022, it had a cash balance of $678 million. This is offset by a debt of $564 million, which is expected to mature in 2026. If the company were to pay its debt today, it would be left with $114 million to grow its business. However, the fact that its debt-to-equity ratio is 2x calls for regular monitoring of its financial position<ref>https://investors.upwork.com/static-files/c737834a-5f46-46d9-8388-2857a82dbee8</ref>. | ||
March 22, 2023. Upwork purchases $196.8 million of its 0.25% Convertible Senior Notes due 2026. The repurchase price(approximately $157 million) payable by the Company will be in cash. The company said that the price "will be based in part on the daily volume-weighted average price per share of the Company’s common stock over a two consecutive trading day measurement period beginning on, and including, March 22, 2023." As such, approximately $378.2 million principal amount of the Notes will remain outstanding<ref>https://capedge.com/filing/1627475/0001627475-23-000016/UPWK-8K</ref>. | |||
=== 2. The freelance industry is growing === | === 2. The freelance industry is growing === | ||