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→‎4. Upwork will likely benefit from the upcoming recession

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Revision as of 12:00, 17 February 2023 (view source) Aron (talk \| contribs) (→‎4. Upwork will likely benefit from the upcoming recession) ← Older edit		Revision as of 12:00, 17 February 2023 (view source) Aron (talk \| contribs) (→‎4. Upwork will likely benefit from the upcoming recession) Newer edit →
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	[[File:UPWORK ACTIVE CLIENTS.png\|thumb\|230x230px\|https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year.<nowiki/>page.12<nowiki/>]]		[[File:UPWORK ACTIVE CLIENTS.png\|thumb\|230x230px\|https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year.<nowiki/>page.12<nowiki/>]]
	Both the Gross Services Volume(GSV) and Active Clients are growing. GSV and Active Clients grew by 14% and 9% in Q3 2022, respectively<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year. page.12</ref>. Even though these represent a deceleration from previous quarters, this is expected since the company is coming off the pandemic period, which was associated with high demand for its marketplace. Of great significance is growth in its number of high-value clients. The number of clients spending over $100,000 per year in the trailing 12 months grew by 32% during the quarter<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year<nowiki/>.page.12</ref>. This indicates that there is increasing adoption of the marketplace by big companies.		Both the Gross Services Volume(GSV) and Active Clients are growing. GSV and Active Clients grew by 14% and 9% in Q3 2022, respectively<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year. page.12</ref>. Even though these represent a deceleration from previous quarters, this is expected since the company is coming off the pandemic period, which was associated with high demand for its marketplace. Of great significance is growth in its number of high-value clients. The number of clients spending over $100,000 per year in the trailing 12 months grew by 32% during the quarter<ref>https://investors.upwork.com/static-files/b5ef19da-22d6-4701-a36b-aa86cb398a6b#:~:text=Our%20overall%20take%20rate%20in,quarter%20of%20the%20prior%20year<nowiki/>.page.12</ref>. This indicates that there is increasing adoption of the marketplace by big companies.