Upwork Inc (NASDAQ:UPWK) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 05:00 pm ET


Upwork Inc (NASDAQ:UPWK) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Upwork Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

I'd now like to turn the conference over to your host today, Denise Garcia, Investor Relations. Please go ahead.

Denise Garcia

Welcome to Upwork's discussion of its second quarter 2020 financial results. Leading the discussion today are Hayden Brown, Upwork's President and Chief Financial Officer; and Brian Kinion, Upwork's departing Chief Financial Officer and current adviser to the CEO. Also on the line is Jeff McCombs, Upwork's incoming Chief Financial Officer. Following management's prepared remarks, we will be happy to take your questions. But first, let me review the safe harbor statement.

During this call, we may make statements related to our business that are forward-looking statements under the 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 the COVID-19 pandemic on our business and current and future impacts of actions we have taken in response to the COVID-19 pandemic are forward-looking statements and related to matters beyond our control and are changing rapidly. For a discussion of the material risks and other important factors that could affect our actual results, please refer to our 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 press release. Additional information will also be set forth in our quarterly report on Form 10-Q for the 3 months ended June 30, 2020, when filed.

In addition, reference will be made to non-GAAP financial measures. Information regarding reconciliation of non-GAAP to GAAP measures can be found in the press release that was issued this afternoon on our Investor Relations website at investors.upwork.com. As always, reported figures are rounded, unless otherwise noted. Comparisons of the second quarter of 2020 are to the second quarter of 2019. All measures are GAAP unless cited as non-GAAP.

The prepared remarks corresponding to the information reviewed on today's conference call will also be available on our Investor Relations website shortly after the call has concluded.

Now I'll turn the call over to Hayden.

Hayden Brown

Thanks, Denise, and thank you all for dialing in today. I want to start by commending our team for thriving in a fully remote work environment while continuing to put our customers at the center of everything we do.

Overnight, knowledge workers everywhere have adopted a remote working model that is testing companies and individuals in new ways and I'm incredibly proud of the work our team has been doing to bring our own 20 years of remote work experience to bear in supporting companies large and small in navigating the remote work landscape. The seismic trends towards remote work and more flexible working models continue to move in our favor, and this was illustrated