UPWK - Upwork Non-GAAP EPS of $0.10 beats by $0.10 revenue of $168.61M beats by $6.08M
2023-08-02 16:23:45 ET
- Upwork press release ( NASDAQ: UPWK ): Q2 Non-GAAP EPS of $0.10 beats by $0.10 .
- Revenue of $168.61M (+7.5% Y/Y) beats by $6.08M .
- GSV increased 3% quarter-over-quarter and was down slightly by approximately (1)% year-over-year.
- Active Clients increased 2% year-over-year as of June 30, 2023 to approximately 822,000.
- We signed 19 new Enterprise Clients in the second quarter of 2023.
- Guidance: Based on the current trends in our business, we are guiding third-quarter 2023 revenue to be between $165 million and $170 million, which is a 6% year-over-year increase at the midpoint, and raising our full-year 2023 revenue guidance to between $665 million and $675 million, which is 8% year-over-year growth at the midpoint.
- We expect third-quarter adjusted EBITDA to be between $14 million and $17 million, which represents an adjusted EBITDA margin of 8.5% to 10.0%. We are increasing full-year 2023 adjusted EBITDA guidance to between $50 million and $55 million, which represents an adjusted EBITDA margin of 7.5% to 8.1%, as we remain committed to focusing on profitable growth and increasing margins in 2023. We also expect to generate positive free cash flow going forward.
- We expect third-quarter 2023 non-GAAP diluted EPS to be between $0.09 and $0.11 and diluted weighted-average shares outstanding in the range of 142 million to 144 million. For full-year 2023, we now expect non-GAAP diluted EPS to be between $0.36 and $0.39 and diluted weighted-average shares outstanding in the range of 136 million to 140 million. We expect stock-based compensation expense to average less than $20 million per quarter for 2023.
- Shares +17.05% .
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Upwork Non-GAAP EPS of $0.10 beats by $0.10, revenue of $168.61M beats by $6.08M