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PALO ALTO - Upwork Inc. (NASDAQ:UPWK), a leading global work marketplace with a market capitalization of $1.99 billion, has announced the appointment of two new members to its Board of Directors following its Annual Meeting of Stockholders on June 5, 2025. According to InvestingPro analysis, the company maintains an impressive financial health score of "GREAT," supported by strong fundamentals and robust cash management. Dana L. Evan and Glenn Kelman have been appointed to support the company’s strategic focus on becoming a premier destination for AI talent and expanding its enterprise offerings.
Dana Evan, with her extensive background as the former CFO of VeriSign and current board member at Box and Nextdoor, is set to chair the Audit, Risk, and Compliance Committee at Upwork. She also joins the Compensation Committee and the Nominating and Governance Committee. Evan’s expertise in financial strategy and governance is expected to play a key role in Upwork’s growth.
Glenn Kelman, CEO of Redfin and co-founder of Plumtree Software, brings a wealth of experience in leading technology-powered marketplace businesses. Kelman, who has been at the helm of Redfin since 2005, will serve as a member of the Compensation Committee. His track record in guiding digital transformation initiatives is seen as a valuable asset for Upwork’s future direction.
The new appointments come as Gregory C. Gretsch and Elizabeth "Betsey" Nelson end their tenure on the Board. Gretsch, a founding investor of Upwork, retired after serving since 2014, while Nelson, who joined in 2015 and chaired the Audit, Risk, and Compliance Committee, did not stand for re-election.
Hayden Brown, president and CEO of Upwork, expressed enthusiasm for the new appointments, citing the unique experiences both Evan and Kelman bring to the table. Thomas Layton, chair of the Board, also welcomed the new directors, emphasizing their alignment with Upwork’s strategic priorities and confidence in their future contributions to the company’s evolution and growth.
Upwork, known for connecting businesses with skilled independent talent across various domains, including AI & machine learning, software development, and finance, has facilitated over $25 billion in economic opportunity worldwide. As the company continues to focus on AI-powered work solutions, the new board members’ insights and stewardship are expected to drive Upwork’s next phase of durable, profitable growth.
This article is based on a press release statement from Upwork.
In other recent news, Upwork Inc. reported first-quarter 2025 earnings that exceeded analyst expectations. The company achieved a record revenue of $192.7 million, marking a 1% year-over-year increase, and an EBITDA of $56 million, reflecting a 29% margin. Analysts at JMP Securities maintained a Market Outperform rating with an $18 price target, while Citi adjusted its price target from $19 to $18, keeping a Neutral stance. Upwork’s Gross Services Volume (GSV) was $988 million, slightly down 2% year-over-year but 1.5% above consensus. The company also reported a 105% increase in GAAP net income year-over-year, driven by strategic investments in AI technology and enterprise strategies. Upwork’s integration of AI, particularly through the launch of the Ooma AI platform, has enhanced user engagement and efficiency. Despite macroeconomic challenges, Upwork’s strategic focus on AI and enterprise clients is projected to support revenue growth reacceleration in 2026. The company’s full-year 2025 revenue guidance is set between $740 million and $760 million, with adjusted EBITDA expected to range from $190 million to $200 million.
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