Upwork Q4 revenue $161.4M (+18% YoY); FY22 revenue $618M (+23%); guides to 2023 adjusted EBITDA profitability

UPWORK, INC

2022-FY EPS reported -$0.69 revenue$618,318,000

Q4 revenue $161.4M (+18% YoY); GAAP net loss $(16.5)M; adjusted EBITDA $1.1M.
Full-year revenue $618M (+23% YoY); GAAP net loss $(89.9)M; adjusted EBITDA $(4)M.
GSV grew 5% YoY in Q4 to over $1B; full-year GSV $4.1B (+16% YoY).
Brand marketing spend to be ~$70M in 2023, down from ~$80M in 2022; Q4 brand spend $19M.
Launches full-time hiring solution; sees macro headwinds but targets adjusted EBITDA profitability in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UPWORK, INC reported financial results for the quarter and year ended December 31, 2022.

Period: the quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 15, 2023, Upwork Inc., or the Company, will hold a conference call regarding its financial results for the quarter and year ended December 31, 2022. The Company issued a shareholder letter announcing its financial results for the quarter and year ended December 31, 2022. The full text of the shareholder letter is attached as Exhibit 99.1 to this report.

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UPWORK, INC filing history →

Source: SEC EDGAR

accession 0001627475-23-000004

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