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

Income Statement

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Total Revenue
45,679
 202,552 253,354 300,562 373,628 373,628 424,612
Selected Year:
31-Dec
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
106.0%
35.7% —

Sales and marketing

27.9% —

Cost of revenue

22.3% —

Research and development

19.1% —

General and administrative

1.0% —

Provision for transaction losses
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cost of revenue
45,679
 65,443 81,458 88,144 104,267 104,267 115,112
Gross profit
45,679
 137,109 171,896 212,418 269,361 269,361 309,500
Sales and marketing
45,679
 53,044 72,963 95,891 133,225 133,225 138,120
Research and development
45,679
 45,604 55,488 64,027 83,471 83,471 90,972
General and administrative
45,679
 37,334 49,336 67,327 71,518 71,518 74,180
Provision for transaction losses
45,679
 4,250 5,821 3,905 3,555 3,555 3,604
Total operating expenses
45,679
 140,232 183,608 231,150 291,769 291,769 306,876
Selected Year:
31-Dec
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
6.0%
6.0% —

Operating Income

Key metric that shows earnings potential of the company's business model
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Operating income
$45,679
 ($3,123) ($11,712) ($18,732) ($22,408) ($22,408) $2,624
Selected Year:
31-Dec
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
0.1%
0.1% —

Other expense or income
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Other expense or income
-
 62 6,142 (3,407) (469) (469) (2,000)
Other expense net
45,679
 62 6,142 - - - -
Total non-operating income (expense)
45,679
 62 6,142 (3,407) (469) (469) (2,000)
Selected Year:
31-Dec
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
6.1%
6.1% —

EBIT

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
EBIT
$45,679
 ($3,061) ($5,570) ($22,139) ($22,877) ($22,877) $624
Selected Year:
31-Dec
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
0.2%
0.2% —

Interest expense

0.0% —

Income tax expense or benefit
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Interest expense
45,679
 960 2,038 1,306 778 778 552
Income before income taxes
45,679
 (4,145) (19,892) (16,631) (22,717) (22,717) 4,072
Income tax expense or benefit TEST - ODD
45,679
 22 (15) (28) (150) (150) (372)
Selected Year:
31-Dec
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
6.1%
6.1% —

Net income (loss)

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
 ($4,123) ($19,907) ($16,659) ($22,867) ($22,867) $3,700
Premium paid on repurchase of redeemable convertible preferred stock Premium paid on repurchase of redeemable convertible preferred stock
45,679
 (6,506) - - - - -
Net income (loss) attributable to common stock
45,679
 (10,629) (19,907) (16,659) - - -

Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Common
-
 - 106,692,030 113,931,825 124,962,279 124,962,279 124,962,279
Selected Year:
31-Dec
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net Income per basic share
$45,678,795.00
 ($0.32) ($0.38) ($0.15) ($0.19) ($0.19) $0.04
Net Income per diluted share
$45,678,795.00
 ($0.32) ($0.38) ($0.15) ($0.19) ($0.19) $0.04