Company name:

Upwork Inc

  • IPO SHARE PRICE:
    $15.00
  • IPO DATE:
    October 03, 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

We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com

Statement of Cash Flow

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
37.2% - Stock-based compensation
22.5% - Accrued expenses and other liabilities
14.8% - Depreciation and amortization
8.5% - Accounts payable
5.9% - Deferred revenue
5.6% - Amortization of operating lease asset
4.3% - Provision for transaction losses
1.1% - Tides Foundation common stock warrant expense
0.1% - Amortization of debt issuance costs
0.1% - (Gain) loss on sale of fixed assets
SOURCEs
14.8% 5.6% 5.9% 8.5% 22.5% 4.3% 37.2%
100 %
0%
USES
32.6% 29.2% 33.3%
33.3% - Net income (loss)
29.2% - Accounts receivable
2.7% - Operating lease liabilities
1.7% - Prepaid expenses and other assets
0.5% - (Accretion) amortization of (discount) premium on marketable securities
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
 ($19,907) ($16,659) ($22,867) ($22,867) $3,700
Depreciation and amortization
$45,679
$45,679
 4,949 6,661 10,172 10,172 10,912
Amortization of operating lease asset
-
-
 - 3,945 3,860 3,860 3,732
Amortization of debt issuance costs
$45,679
$45,679
 77 52 61 61 72
Stock-based compensation
$45,679
$45,679
 10,361 18,798 25,508 25,508 23,924
Provision for transaction losses
$45,679
$45,679
 5,110 3,118 2,919 2,919 1,060
(Accretion) amortization of (discount) premium on marketable securities (Accretion) amortization of (discount) premium on marketable securities
-
-
 - (1,158) (320) (320) (36)
Tides Foundation common stock warrant expense
-
-
 226 711 750 750 744
(Gain) loss on sale of fixed assets
$45,679
$45,679
 91 14 44 44 176
Change in fair value of Tides Foundation common stock warrant Change in fair value of Tides Foundation common stock warrant
$45,679
$45,679
 226 - - - -
Change in fair value of redeemable convertible preferred stock warrant liability Change in fair value of redeemable convertible preferred stock warrant liability
$45,679
$45,679
 6,056 - - - -
Accounts receivable
$45,679
$45,679
 3,506 (10,918) (20,000) (20,000) (30,040)
Prepaid expenses and other assets
$45,679
$45,679
 (1,292) (2,069) (1,198) (1,198) (3,656)
Accounts payable
$45,679
$45,679
 1,609 (1,457) 5,822 5,822 2,940
Accrued expenses and other liabilities
$45,679
$45,679
 2,849 (2,957) 15,438 15,438 19,960
Deferred revenue
$45,679
$45,679
 109 4,430 4,027 4,027 4,048
Operating lease liabilities
-
-
 - (1,453) (1,851) (1,851) (1,724)
Net cash provided by (used in) operating activities
$45,679
$45,679
 $13,744 $1,058 $22,365 $22,365 $35,812
Selected Year:
31-Dec
2020
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
96.6% - Maturities of marketable securities
SOURCEs
3.4% 96.6%
100 %
0%
USES
6.6% 5.2% 88.2%
88.2% - Purchases of marketable securities
6.6% - Development of internal-use software
5.2% - (Purchase) sale of property and equipment
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
(Increase) decrease in restricted cash and deposits
$45,679
$45,679
 (444) - - - -
Purchases of marketable securities
-
-
 - (168,786) (107,281) (107,281) (148,264)
Maturities of marketable securities
-
-
 - 84,500 117,500 117,500 114,000
(Purchase) sale of property and equipment
$45,679
$45,679
 (3,002) (10,752) (6,320) (6,320) (440)
Development of internal-use software
$45,679
$45,679
 (3,839) (5,886) (8,045) (8,045) (9,912)
Net cash provided by (used in) investing activities
$45,679
$45,679
 ($7,285) ($100,924) ($4,146) ($4,146) ($44,616)
Selected Year:
31-Dec
2020
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
38.7% - Proceeds from issuance of common stock upon exercise of stock options and warrants
32.8% - Changes in escrow funds payable
22.4% - Borrowing
6.1% - Proceeds (payments) related to employee stock compensation plans (ESPP)
SOURCEs
22.4% 32.8% 6.1% 38.7%
100 %
0%
USES
68.1% 31.9%
31.9% - Repayment of debt
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Initial Public Offering (IPO) net
$45,679
$45,679
 109,381 - - - -
Proceeds from issuance of common stock upon exercise of stock options and warrants Proceeds from issuance of common stock upon exercise of stock options and warrants
$45,679
$45,679
 8,160 18,155 31,028 31,028 30,740
Proceeds (payments) related to employee stock compensation plans (ESPP) Proceeds (payments) related to employee stock compensation plans (ESPP)
-
-
 - 6,391 4,913 4,913 9,008
Proceeds from issuance of redeemable convertible preferred stock upon exercise of warrants Proceeds from issuance of redeemable convertible preferred stock upon exercise of warrants
-
$45,679
 - - - - -
Initial public offering costs
$45,679
$45,679
 (6,220) - - - -
Repayment of debt
$45,679
$45,679
 (25,000) (55,679) (25,621) (25,621) (7,568)
Borrowing
$45,679
$45,679
 15,000 50,000 18,000 18,000 -
Debt issuance costs
$45,679
$45,679
 - - - - -
Changes in escrow funds payable
$45,679
$45,679
 10,991 10,535 26,321 26,321 27,648
Changes in funds held in escrow including funds in transit Changes in funds held in escrow including funds in transit
$45,679
$45,679
 (10,991) - - - -
Employee withholding taxes paid upon settlement of restricted stock units Employee withholding taxes paid upon settlement of restricted stock units
$45,679
$45,679
 (247) - - - -
Repurchases of redeemable convertible preferred stock
-
$45,679
 - - - - -
Net cash provided by (used in) financing activities
$45,679
$45,679
 $101,074 $29,402 $54,641 $54,641 $59,828
Selected Year:
31-Dec
2020
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$72,860,000
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cash and equivalents - Beginning of period
$45,679
$45,679
 $21,595 $230,067 $159,603 - $878,828
(Decrease) increase in cash and cash equivalents
$45,679
$45,679
 107,533 (70,464) 72,860 - 51,024
Cash and equivalents - End of period
$45,679
$45,679
 $129,128 $159,603 $232,463 - $929,852