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Dec 31, 2022
Upwork Q4 2022 Earnings Report
Upwork's Q4 2022 performance reflected strategic progress amid macroeconomic challenges.
Key Takeaways
Upwork's Q4 2022 saw GSV exceeding $1 billion with 5% growth and revenue reaching $161.4 million, an 18% increase year-over-year. The company signed 26 new Enterprise Clients, including HTC and Lucid Motors. GAAP net loss was $(16.5) million, while adjusted EBITDA reached $1.1 million.
GSV grew 5% year-over-year, exceeding $1 billion.
Revenue increased by 18% year-over-year, reaching $161.4 million.
Enterprise revenue grew 22% year-over-year.
Signed 26 new Enterprise Clients, including HTC, JLL, Maaco, Lucid Motors, and Sweetwater Sound.
Revenue by Segment
Forward Guidance
Upwork provided Q1 2023 revenue guidance of $157 million to $160 million, representing a 12% year-over-year increase at the midpoint, and full-year 2023 revenue guidance of $690 million to $705 million, representing 13% year-over-year growth at the midpoint. The company expects Q1 2023 adjusted EBITDA to be a loss of $(8) million to $(11) million and full-year 2023 adjusted EBITDA of $15 million to $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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