Company name:

Upwork Inc

  • IPO SHARE PRICE:
    $15.00
  • IPO DATE:
    03 October 2018
  • TICKER:
    UPWK
  • MAIN STOCK EXCHANGE:
    NASDAQ Global Select
  • CURRENT HQ LOCATION:
    2625 Augustine Drive Suite 601 Santa Clara California 95054
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    DE
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Upwork Inc

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Balance Sheet

Quarterly Annual
(USD in thousand)
17.8% 14.3% 8.9% 25.5%
Selected Year:
31-Dec
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
68.2%
25.5% —

Funds held in escrow including funds in transit

17.8% —

Cash and cash equivalents

14.3% —

Short-term passive investments

8.9% —

Accounts Receivable from Customers

1.7% —

Prepaid expenses and other current assets

Liquidity
Selected Year:
The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
Cash and cash equivalents 		$21,595 $129,128 $48,392 $94,081
Short-term passive investments - - 85,481 75,570
Accounts Receivable from Customers 30,762 22,315 30,156 47,018
Prepaid expenses and other current assets 4,574 6,253 7,885 9,090
Funds held in escrow including funds in transit 87,195 98,186 108,721 135,042
Total current assets $144,126 $255,882 $280,635 $360,801
5.3% 3.7% 22.3%
Selected Year:
31-Dec
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
31.8%
22.3% —

Goodwill

5.3% —

Property and equipment net

3.7% —

Operating lease assets

0.3% —

Other assets non-current

0.1% —

Intangible assets
Selected Year:
Property and equipment net 3,514 10,815 21,454 28,139
Operating lease assets - - 21,908 19,729
Intangible assets
8,672 6,004 3,335 667
Goodwill
118,219 118,219 118,219 118,219
Other assets non-current 658 653 829 1,672
Total non-current assets 131,063 135,691 165,745 168,426
Total assets $275,189 $391,573 $446,380 $529,227
3.2% 6.2% 25.5% 3.9% 93.4%
Selected Year:
31-Dec
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
37.6%
25.5% —

Escrow funds payable

6.2% —

Accrued expenses and other current liabilities

3.2% —

Current portion of deferred revenue

1.4% —

Current debt

1.2% —

Accounts payable
Selected Year:
Accounts payable $462 $2,073 $652 $6,455
Escrow funds payable 87,195 98,186 108,721 135,042
Accrued expenses and other current liabilities 16,030 20,948 18,342 32,868
Current portion of deferred revenue 614 722 13,799 16,801
Current debt 10,342 5,671 7,584 7,581
Total current liabilities $114,643 $127,600 $149,098 $198,747
Selected Year:
31-Dec
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
5.9%
3.9% —

Operating leases

1.4% —

Other non-current liabilities

0.6% —

Long-term debt
Selected Year:
Long-term debt 23,491 18,239 10,699 3,142
Operating leases - - 21,186 20,506
Other non-current liabilities 1,936 1,989 5,973 7,522
Total long-term liabilities $25,427 $20,228 $37,858 $31,170
Total Liabilities $140,070 $147,828 $186,956 $229,917
Selected Year:
31-Dec
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
56.6%
93.4% —

Additional paid-in capital

0.0% —

Common stock
Selected Year:
Redeemable convertible preferred stock
$166,486 - - -
Common stock 3 11 11 12
Accumulated deficit
(123,592) (143,499) (171,957) (194,824)
Additional paid-in capital
92,222 387,233 431,370 494,122
Total Equity ($31,367) $243,745 $259,424 $299,310
Total Liabilities and Equity $275,189 $391,573 $446,380 $529,227