Upwork Reports First Quarter 2021 Financial Results

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Go back to Upwork Reports First Quarter 2021 Financial Results

Upwork Inc. (UPWK) Tops Q1 EPS by 7c, Revenues Beat; Offers 2Q & FY21 Revenues Guidance Above Consensus

May 4, 2021 4:34 PM EDT

Upwork Inc. (NASDAQ: UPWK) reported Q1 EPS of $0.03, $0.07 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $113.6 million versus the consensus estimate of $108.65 million.

First Quarter 2021 Financial Results

GSV increased by 41% year-over-year to $786.8 million;Revenue grew 37% year-over-year to $113.6 million;Marketplace revenue grew 40% year-over-year to $104.7 million;Marketplace take rate was 13.5%, down from 13.6% a year ago;Gross margin increased one percentage point year-over-year to 73%;Net loss was $7.8 million, or $(0.06) per share, compared to a net loss of $10.0 million, or $(0.09) per... More