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Upwork: Summary of Old Reports/ Conference Calls: Difference between revisions
Upwork: Summary of Old Reports/ Conference Calls (view source)
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== Earnings Call Q3 2020 == | == Earnings Call Q3 2020 == | ||
=== | === Management remarks and Q&A === | ||
=== | ==== Management remarks ==== | ||
* Revenue of $97 million(+24% y/y) exceeded the high end of their guidance. | * Revenue of $97 million(+24% y/y) exceeded the high end of their guidance<ref>https://capedge.com/transcript/1627475/2020Q3/UPWK</ref>. | ||
* Hayden Brown quoted an Harvard Business Review article titled, " Rethinking the On-Demand Workforce." | * Hayden Brown quoted an Harvard Business Review article titled, " Rethinking the On-Demand Workforce." | ||
* 90% of the executives they surveyed believe the platform will be key to their ability to compete in future. | * 90% of the executives they surveyed believe the platform will be key to their ability to compete in future. | ||
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* Approximately two-third of Upwork internal talent are freelancers. | * Approximately two-third of Upwork internal talent are freelancers. | ||
* Management was bullish on their business. | * Management was bullish on their business. | ||
==== Q&A ==== | |||
* Project catalog is a great way for clients to get a taste of the platform. | * Project catalog is a great way for clients to get a taste of the platform. | ||
* Sales team is a split of hunthers and gatherers. | * Sales team is a split of hunthers and gatherers. | ||
=== GSV and Clients === | |||
* GSV "grew 23% year-over-year and accelerated quarter-over-quarter due to a continued secular shift toward remote and independent work, coupled with strong execution by our team against our growth strategy."(MR) | |||
* GSV driven by both existing clients and new clients(Q&A). | |||
* U.S and international client registrations grew at record levels. Saw an 89% yy increase in client registrations from the SEO channel(Q&A). | |||
* Enterprise plan customers spend on average $1 million per year(MR). | |||
* Impact of macroeconomic conditions on small businesses was less than anticipated(MR). | |||
* According to Stifel Analyst, historically disclosed mixed of Upwork GSV is 65% being larger jobs, 20% agency spends, and 15% on gig work(Q&A). | |||
* Strength seen in the quarter was broadbased but the main categories that showed strength were web mobile software development, sales marketing, design and creative(Q&A). | |||
* Seeing interest from customers on things like Expert-Vetted program and top rated status(Q&A). | |||
== Earnings Call Q4 2020 == | == Earnings Call Q4 2020 == | ||