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Upwork: Summary of Old Reports/ Conference Calls: Difference between revisions
Upwork: Summary of Old Reports/ Conference Calls (view source)
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* Seismic trends towards remote and flexible work continue to work in Upwork's favor as illustrated in their Fourth Annual Future Workforce report<ref>https://capedge.com/transcript/1627475/2020Q2/UPWK</ref>. | * Seismic trends towards remote and flexible work continue to work in Upwork's favor as illustrated in their Fourth Annual Future Workforce report<ref>https://capedge.com/transcript/1627475/2020Q2/UPWK</ref>. | ||
* Saw a huge global demand for technical talent. | * Saw a huge global demand for technical talent. | ||
* Debuted Upwork Expert-Vetted Talent. | * Debuted Upwork Expert-Vetted Talent. | ||
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==== Q&A ==== | ==== Q&A ==== | ||
* CFO Brian Kinion seems to have been fired? "I think there's little concern about the transition and maybe just talk through this, from your perspective, that'd be helpful?" Brent Thill from Jefferies asked. "I haven't decided what's next. I'm going to take some time over with my families. And I'll be very good and happy Upwork shareholder as well, " Kinion responded. "I think Brian's been an incredible partner and I think we've been having a lot of conversations since I stepped into the CEO role about the direction of the Company and our focus right now on really driving strategic growth priorities. And I'm excited that Jeff is really bringing in a strategic lens to financial leadership," Hayden Brown added. | * '''CFO Brian Kinion seems to have been fired?''' "I think there's little concern about the transition and maybe just talk through this, from your perspective, that'd be helpful?" Brent Thill from Jefferies asked. "I haven't decided what's next. I'm going to take some time over with my families. And I'll be very good and happy Upwork shareholder as well, " Kinion responded. "I think Brian's been an incredible partner and I think we've been having a lot of conversations since I stepped into the CEO role about the direction of the Company and our focus right now on really driving strategic growth priorities. And I'm excited that Jeff is really bringing in a strategic lens to financial leadership," Hayden Brown added. | ||
* Anticipating the economy to get worse in Q3 due to 30 million unemployed Americans, stimulus programs largely dried up and no forthcoming from small businesses. | * Anticipating the economy to get worse in Q3 due to 30 million unemployed Americans, stimulus programs largely dried up and no forthcoming from small businesses. | ||
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* Approximately 80% of the work in the platform comes from categories conisdered as essential or somewhat essential(Q&A). | * Approximately 80% of the work in the platform comes from categories conisdered as essential or somewhat essential(Q&A). | ||
* The premium for having workers from the Top 15 most expensive cities in U.S is 40% compared to other geographies(Q&A). | * The premium for having workers from the Top 15 most expensive cities in U.S is 40% compared to other geographies(Q&A). | ||
==== Product ==== | |||
* Expanded the availability of employer of record to all customers. (MR) | |||
== Earnings Call Q3 2020 == | == Earnings Call Q3 2020 == | ||