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    Jake Hallac

    Senior Associate and equity research analyst at JMP Securities

    Jake Hallac is a Senior Associate and equity research analyst at JMP Securities LLC, specializing in internet and digital media companies. During his tenure, he has covered high-growth sectors within cybersecurity, SaaS, identity and zero trust access, and IT infrastructure, contributing research on top-performing companies featured in industry-recognized reports. Hallac began his finance career at Blackstone Group investing in public equities, then advanced through roles in business development at Blend and Plenty before joining JMP Securities in 2021. He holds a CFA charter, an MBA from MIT Sloan School of Management, and a bachelor's degree from Northwestern University, reflecting strong professional credentials in investment research and business analysis.

    Jake Hallac's questions to UPWORK (UPWK) leadership

    Jake Hallac's questions to UPWORK (UPWK) leadership • Q3 2024

    Question

    Jake Hallac of JMP Securities inquired about the drivers behind the Q4 guidance, the key factors needed for GSV to reaccelerate, and the new services for freelancers expected to drive future take rate growth.

    Answer

    CFO Erica Gessert clarified that Q4 guidance reflects slight top-of-funnel improvements seen in late Q3 but assumes a steady state rather than a significant upswing, as key metrics remain negative year-over-year. CEO Hayden Brown added that future take rate growth will be driven by enhancing existing monetization tools like Boosted Profiles and Connects in a more 'surgical' manner, rather than through major wholesale pricing changes.

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