- Upwork press release ( NASDAQ: UPWK ): Q4 Non-GAAP EPS of $0.04 beats by $0.07 .
- Revenue of $161.44M (+18.0% Y/Y) beats by $2.15M .
- GSV in the fourth quarter of 2022 grew 5% year-over-year to once again exceed $1 billion.
- Non-GAAP gross profit was $120.7 million, or 75% of revenue, in the fourth quarter of 2022, compared with 73% in the fourth quarter of 2021.
- Adjusted EBITDA income was $1.1 million in the fourth quarter of 2022, compared to adjusted EBITDA loss of $(3.3) million in the fourth quarter of 2021.
- Outlook: Based on the current macroeconomic environment and related trends in our business, we are guiding first-quarter 2023 revenue to be between $157 million and $160 million, which is a 12% year-over-year increase at the midpoint, and providing full-year 2023 revenue guidance of between $690 million and $705 million, which is 13% year-over-year growth at the midpoint.
- We expect first-quarter 2023 adjusted EBITDA to be a loss of between $(8) million and $(11) million. In the first quarter we expect to invest approximately $15 million in brand working media. We are guiding full-year 2023 adjusted EBITDA of between $15 million and $20 million, as we remain committed to achieving our adjusted EBITDA profitability target in 2023.
- We expect first-quarter 2023 non-GAAP basic loss per share to be between $(0.03) and $(0.06) and basic weighted-average shares outstanding in the range of 132 million to 134 million. For full-year 2023, we expect non-GAAP diluted EPS to be between $0.11 and $0.15 and diluted weighted-average shares outstanding in the range of 136 million to 140 million.
- Shares +0.79% .
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Upwork Non-GAAP EPS of $0.04 beats by $0.07, revenue of $161.44M beats by $2.15M