Aug 6, 2020 06:30:01 AM Edited Aug 6, 2020 06:34:26 AM by Will L
On Tuesday Upwork released its financial results for the three months ended June 30, 2020.
It appears the COVID-19 pandemic had no significant net negative or positive effect on Upwork’s financial performance in the quarter. although "COVID-19" is mentioned 129 times in the company's required quarterly filing with the SEC.
The company’s net loss was up 350% during the quarter despite a nearly 19% increase in revenue (compared to the same period in 2019).
During the period, the company issued a total of 4.4 million shares under stock options, employee stock purchase plans, etc. at an average price of $5.09.
71% of total client revenue came from US clients; 27% of total freelancer revenue came from US freelancers.
The company also again mentioned “…we expect further changes to Connects pricing,” but there is no explanation of what those changes will be.
User | Count |
---|---|
470 | |
433 | |
327 | |
249 | |
180 |