6,294
edits
Upwork: Summary of Old Reports/ Conference Calls: Difference between revisions
Upwork: Summary of Old Reports/ Conference Calls (view source)
Revision as of 15:11, 19 June 2023
, 19 June 2023no edit summary
No edit summary |
No edit summary |
||
| Line 19: | Line 19: | ||
== Earnings Call Q4 2018 == | == Earnings Call Q4 2018 == | ||
* A big part of SMB are in IT and cross-border<ref>https://capedge.com/transcript/1627475/2018Q4/UPWK</ref>. | * A big part of SMB are in IT and are cross-border<ref>https://capedge.com/transcript/1627475/2018Q4/UPWK</ref>. | ||
* Building enterprise business where a big part are non-IT and domestic hiring-specific. | * Building enterprise business where a big part are non-IT and domestic hiring-specific. | ||
| Line 37: | Line 37: | ||
* There are over 50 companies that spend over a $1 million a year on the platform. | * There are over 50 companies that spend over a $1 million a year on the platform. | ||
* Long-term target of 80%-85% gross margin. | * Long-term target of 80%-85% gross margin. | ||
* A huge part of gross margin growth will come from payment cost, hence if more clients adopt ACH payment, it helps with leverage. | * A huge part of gross margin growth will come from payment cost(credt card fees), hence if more clients adopt ACH payment, it helps with leverage. | ||
* Client spend retention is much higher for enterprise than the overall marketplace, i.e the bigger the company the more the spend retention. | * Client spend retention is much higher for enterprise than the overall marketplace, i.e the bigger the company the more the spend retention. | ||
* U.S domestic marketplace is 20% of the business and is growing at 35%. | * U.S domestic marketplace is 20% of the business and is growing at 35%. | ||
* Have low awareness within the traditional buyers of staffing services. These buyers don't also consider them as alternatives to staffing services. | * Have low awareness within the traditional buyers of staffing services. These buyers don't also consider them as alternatives to staffing services. | ||
== Earnings Call Q3 2019 == | |||
* Managed services is an headwind to take rate when it is growing slower than marketplace. This is because, "revenue recognition policy, managed services is recognized as 100% take rate, whereas the rest of our business is recognized as the net revenue being the take rate," said Kastriel<ref>https://capedge.com/transcript/1627475/2019Q3/UPWK</ref>. | |||
* U.S clients who start with U.S freelancers end up spending more when they start hiring from outside U.S, so they are introducing graduation path where they introduce clients with non-U.S freelancers when their stay in the platform matures. | |||
* U.S clients who start by hiring U.S freelancers retains less. | |||
* Sales team is mainly targeting U.S and Canadian companies. | |||
== Earnings Call Q4 2018 == | |||
* Over 85% of Upwork's GSV was derived from larger engagements and comple projects<ref>https://capedge.com/transcript/1627475/2019Q4/UPWK</ref>. | |||
== References == | == References == | ||