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 == Earnings Call Q1 2020 ==
-* Had approximately 2,000 team members.
+=== Management Prepared Remarks ===
+* Had approximately 2,000 team members<ref>https://capedge.com/transcript/1627475/2020Q1/UPWK</ref>.
 * Gartner CFO study found that 74% of companies plan to shift to more remote work after the pandemic.
+* Citrix poll found that 28% who started working remotely plans to seek remote jobs after the pandemic.
+* Accelerated hourly contract payments of top rated freelancers by 50%.
+* Launched direct contracts.
+* Saw an influx of new freelancers.
+* Lauched Work Together Talent Grants program, which offers grants of $1 million to clients that hire Upwork freelancers to work on Covid-related projects.
+* Some businesses moved their staff to Upwork to take advantage of its tools.
+* Pandemic started to impact the platform in the second week of March.
+* The platform saw rebound in orders in the fourth week of March.
+* GSV from small and mid-sized clients decreased 3% starting in March 9 and lasting through early April, compared to the average levels seen earlier in the quarter.
+* Approximately one-third of Upwork GSV is generated from clients whose industries are classified by Goldman Sachs as Low Exposure to recession risk. Another one-third of its clients come from industries classified as Moderate Exposure while only 1% come from High Exposure classification.
+* Approximately half of GSV comes from categories of work that are Essential to its clients while one-third come from categories that are Somewhat Essential.
+* Many prospective clients have either never heard of Upwork or believe Upwork is a site for small gigs.
+* Saw softness in Q1 as a result of "the pandemic's immediate impact on larger companies' general willingness to sign new contracts."
+* Paused sales team hiring.
+* Q1 revenue was reduced by approximately 1% by Covid.
+* The company withdrew annual guidance due to unpredictability of macro environment as a result of Covid but provided guidance for the second quarter.
+=== Questions and Answers ===
+* Saw 70% increase in brand awareness among the targeted buyers.
+* Saw uptick in GSV from mid-market and larger customers.
+* Anticipate that dynamic and flexible working will be the rule going forward.
+* Upwork does not only provide freelancers and IC compliance, but also has employer of record and payrolling  solution.
+* Some of the big themes they saw were around IT, marketing and content and customer support.
 *
 == References ==