NASDAQ$UPWK
Upwork Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Upwork's Q3 2020 performance was driven by both existing and new clients, who adopted Upwork in record numbers.
Upwork's Q3 2020 financial results showed significant growth, with revenue increasing by 24% year-over-year to $96.7 million. The marketplace revenue also grew by 26% year-over-year, and the marketplace take rate improved to 13.6%.
- Gross Services Volume (GSV) increased by 23% year-over-year to $654.5 million.
- Revenue grew 24% year-over-year to $96.7 million, exceeding guidance.
- Marketplace revenue grew 26% year-over-year to $88.0 million.
- Marketplace take rate was 13.6%, up from 13.3% a year ago.
Headline financials
Revenue & EPS history
Upwork · Revenue · Quarterly
$96.7M
Revenue by segment
Upwork · $88M total across 1 segment · Q3 2020
- Marketplace$88M+25.9%100.0%
Forward guidance
For the fourth quarter of 2020, Upwork expects revenue in the range of $96 million to $98 million with weighted-average shares outstanding in the range of 122 million to 124 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+1.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-5.1%
Avg return
30 days after
47%
14 / 30 earnings
Positive
+48.0%
Q3 2020
Best reaction
-19.1%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | -20.7% | -17.2% | |
| Q4 2025 | -19.1% | -29.6% | -36.9% | |
| Q3 2025 | +13.2% | +11.6% | +25.3% | |
| Q1 2025 | +18.0% | +26.7% | +13.3% | |
| Q4 2024 | +6.6% | +8.6% | -18.9% | |
| Q3 2024 | +12.9% | +10.4% | +17.9% | |
| Q2 2024 | -13.2% | -16.5% | -11.9% | |
| Q1 2024 | +11.0% | +7.9% | -9.7% | |
| Q4 2023 | -0.3% | -1.4% | -14.1% | |
| Q3 2023 | +17.3% | +21.8% | +21.4% | |
| Q2 2023 | +43.5% | +44.6% | +49.3% | |
| Q1 2023 | -9.2% | -8.6% | -0.2% | |
| Q4 2022 | -10.3% | -11.0% | -23.8% | |
| Q3 2022 | +1.4% | +5.0% | -8.0% | |
| Q2 2022 | -14.2% | -16.5% | -20.8% | |
| Q1 2022 | +10.0% | +15.8% | -3.5% | |
| Q4 2021 | -6.0% | -8.7% | -16.7% | |
| Q3 2021 | -15.5% | -15.4% | -35.1% | |
| Q2 2021 | -10.8% | -10.5% | -23.8% | |
| Q1 2021 | -6.5% | -4.1% | +3.8% | |
| Q4 2020 | +3.8% | +4.8% | -15.5% | |
| Q3 2020 | +48.0% | +42.7% | +63.0% | |
| Q2 2020 | -10.3% | -11.7% | -13.0% | |
| Q1 2020 | +4.3% | +19.3% | +40.0% | |
| Q4 2019 | +5.0% | +1.4% | -21.9% | |
| Q3 2019 | -15.9% | -19.5% | -26.0% | |
| Q2 2019 | +10.0% | -3.0% | -9.0% | |
| Q1 2019 | -18.6% | -20.3% | -30.5% | |
| Q4 2018 | -6.1% | -4.1% | -19.9% | |
| Q3 2018 | -6.9% | -8.8% | -11.9% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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