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Upwork: Difference between revisions
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Even though its revenue is growing, it has yet to be profit positive. However, analysts believe that if the revenue keeps growing at an average of 15% annually, Upwork will be able to achieve profitability in 2024<ref>https://finance.yahoo.com/news/upwork-inc-nasdaq-upwk-breakeven-113042466.html</ref>. This is possible considering that Upwork's revenue grew at an average of 25.84% between 2019 and 2021. Part of the reason why Upwork has yet to achieve profitability is its huge operating expenses. For instance, in Q2 2022, Upwork spent 84% of its revenue on operating expenses. Sales and marketing expenses alone accounted for 40% of its revenue<ref>https://seekingalpha.com/article/4546517-upwork-decent-execution-slight-premium-valuation</ref>. | Even though its revenue is growing, it has yet to be profit positive. However, analysts believe that if the revenue keeps growing at an average of 15% annually, Upwork will be able to achieve profitability in 2024<ref>https://finance.yahoo.com/news/upwork-inc-nasdaq-upwk-breakeven-113042466.html</ref>. This is possible considering that Upwork's revenue grew at an average of 25.84% between 2019 and 2021. Part of the reason why Upwork has yet to achieve profitability is its huge operating expenses. For instance, in Q2 2022, Upwork spent 84% of its revenue on operating expenses. Sales and marketing expenses alone accounted for 40% of its revenue<ref>https://seekingalpha.com/article/4546517-upwork-decent-execution-slight-premium-valuation</ref>. | ||
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