Upwork Inc. (UPWK)

Upwork Operating Metrics

Period Ending	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018
Gross Services Volume	4.12B	4.15B	4.14B	4.10B	4.10B	4.11B	4.10B	4.05B
Gross Services Volume Growth	0.54%	1.02%	0.92%	1.14%	4.23%	9.18%	15.71%	23.05%
Enterprise Revenue	91.50M	79.45M	64.25M	50.60M	51.00M	49.00M	48.40M	46.10M								-	-	-	-	-	-	-	-
Enterprise Revenue Growth	79.40%	62.15%	32.74%	9.76%	20.00%	26.61%	38.68%	49.68%								-	-	-	-	-	-	-	-
Active Clients	868.00K	872.00K	851.00K	836.00K	822.00K	827.00K	814.00K	818.00K				-	-	-	-	-	-	-	-	-	-	-	-
Active Clients Growth	5.60%	5.44%	4.55%	2.20%	1.86%	4.29%	5.58%	-				-	-	-	-	-	-	-	-	-	-	-	-
Gross Services Volume Per Client	4.99K	4.76K	4.82K	4.91K	4.99K	4.97K	5.05K	4.96K				-	-	-	-	-	-	-	-	-	-	-	-
Gross Services Volume Per Client Growth	-	-4.23%	-4.50%	-1.05%	2.32%	4.74%	9.70%	-				-	-	-	-	-	-	-	-	-	-	-	-
New Enterprise Clients	46.00	28.00	31.00	23.00	19.00	25.00	26.00	25.00								-	-	-	-	-	-	-	-
New Enterprise Clients Growth	142.11%	12.00%	19.23%	-8.00%	-47.22%	-21.88%	-18.75%	-26.47%								-	-	-	-	-	-	-	-
Take Rate	19.15%	17.70%	17.20%	17.10%	16.30%	16.00%	15.70%	15.40%							-	-	-	-	-	-	-	-	-

Revenue by Segment

Period Ending	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Marketplace Revenue Revenue	650.34M	640.19M	623.95M	614.16M	597.56M	585.26M	566.59M	544.32M
Marketplace Revenue Revenue Growth	8.83%	9.39%	10.12%	12.83%	15.59%	20.15%	22.55%	25.48%
Enterprise Revenue Revenue	93.39M	79.03M	65.19M	52.44M	51.95M	52.54M	51.68M	49.41M
Enterprise Revenue Revenue Growth	79.77%	50.41%	26.13%	6.14%	12.27%	21.01%	27.75%	28.96%

Operating Expense Breakdown

Period Ending	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Research and Development	195.02M	185.80M	177.36M	172.81M	168.29M	160.87M	154.55M	146.36M
Research and Development Growth	15.88%	15.49%	14.76%	18.07%	21.65%	23.15%	29.79%	35.08%
Sales and Marketing	191.80M	203.53M	220.68M	234.16M	250.03M	254.24M	246.88M	238.78M
Sales and Marketing Growth	-23.29%	-19.94%	-10.61%	-1.93%	14.27%	26.28%	34.69%	46.36%
General and Administrative	122.58M	121.64M	118.93M	117.00M	119.76M	124.10M	123.95M	124.98M
General and Administrative Growth	2.36%	-1.98%	-4.06%	-6.39%	0.08%	4.56%	9.61%	24.34%
Provision for Transaction Losses	6.43M	7.20M	12.98M	17.10M	25.62M	29.73M	25.15M	21.27M
Provision for Transaction Losses Growth	-74.90%	-75.77%	-48.41%	-19.60%	104.88%	321.63%	315.89%	362.08%

Source: Business metrics provided by Main Street Data and sourced from official company press releases and documents.