Upwork Inc. (NASDAQ:UPWK) Q1 2022 Earnings Conference Call April 27, 2022 5:00 PM ET

Company Participants

Evan Barbosa - Vice President, Investor Relations

Hayden Brown - President and Chief Executive Officer

Jeff McCombs - Chief Financial Officer

Conference Call Participants

Eric Sheridan - Goldman Sachs

Bernie McTernan - Needham & Company

Maria Ripps - Canaccord

Marvin Fong - BTIG

Matt Farrell - Piper Sandler

Andrew Boone - JMP Securities

Rohit Kulkarni - MKM Partners

Brent Thill - Jefferies

Operator

Thank you for standing by and welcome to the Upwork First Quarter 2022 Financial Results. [Operator Instructions] I would now like to hand the conference over to Evan Barbosa, Vice President of Investor Relations. The floor is yours.

Evan Barbosa

Thank you. Welcome to Upwork’s discussion of its first quarter 2022 financial results. Leading the discussion today are Hayden Brown, Upwork’s President and Chief Executive Officer; and Jeff McCombs, Upwork’s Chief Financial Officer. Following management’s prepared remarks, we will be happy to take your questions.

But first, I’ll review the Safe Harbor statement. During this call, we may make statements related to our business that are forward-looking statements under federal securities laws. These statements are not guarantees of future performance but rather are subject to a variety of risks, uncertainties and assumptions. Our actual results could differ materially from expectations reflected in any forward-looking statements. In addition, any statements regarding the current and future impacts of Russia’s invasion of Ukraine and our decision to suspend business operations in Russia and Belarus and the COVID-19 pandemic on our business and current and future impacts of actions we have taken in response to Russian’s invasion of Ukraine and the COVID-19 pandemic are forward-looking statements and related to matters that are beyond our control and changing rapidly.

For a discussion of the material risks and other important factors that could affect our actual results, please refer to the SEC filings available on the SEC website and on our Investor Relations website as well as the risks and other important factors discussed in today’s shareholder letter. Additional information will be set forth in our quarterly report on Form 10-Q for the quarter ended March 31, 2022 when filed.

In addition, reference will be made to non-GAAP financial measures. Information regarding a reconciliation of non-GAAP to GAAP measures can be found in the shareholder letter that was issued this afternoon on our Investor Relations website at investors.upwork.com. As always, unless otherwise noted, reported figures are rounded in comparisons of the first quarter of 2022 or to the first quarter of 2021. All measures are GAAP unless cited as non-GAAP.