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Upwork:Quarterly Results/2023 Q1: Difference between revisions
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* Upwork purchases $196.8 million of its notes due 2026 [https://www.investmentwiki.org/wiki/Upwork#:~:text=March%2022%2C%202023,%5B44%5D.] | * Upwork purchases $196.8 million of its notes due 2026 [https://www.investmentwiki.org/wiki/Upwork#:~:text=March%2022%2C%202023,%5B44%5D.] | ||
* Upwork introduces new pricing structure [https://www.investmentwiki.org/wiki/Upwork#:~:text=March%2016%2C%202023,%5B29%5D.] | * Upwork introduces new pricing structure [https://www.investmentwiki.org/wiki/Upwork#:~:text=March%2016%2C%202023,%5B29%5D.] | ||
== Analysts Commentaries == | |||
=== BTIG Analysts === | |||
* They said Upwork's new freelance fee will boost its take rate but will be an headwind to its GSV<ref>https://www.investing.com/news/stock-market-news/upwork-fee-structure-changes-positive-for-overall-take-rate--btig-432SI-3039046</ref>. | |||
* They estimated the blended talent service fee was 7-8% in 2022, with the take rate within just the talent marketplace likely a bit below the corporate average. | |||
* "While take rate should come up nicely, these changes will also likely create GSV headwinds as they introduce new frictions into the marketplace," noted the analysts "We believe the next few months could be especially choppy as freelancers who are displeased enough to leave the Upwork marketplace might try to reduce their activity while Upwork will not be getting the benefit of the higher fees," they pointed out. | |||
* They said that the new changes is incorporated in Upwork's FY2022 guidance given last month. | |||
== Competitor Results and Expectations == | == Competitor Results and Expectations == | ||