Matt Schindler's questions to Upwork Inc (UPWK) leadership • Q1 2025
Question
Matt Schindler questioned the full-year EBITDA guidance, noting that the modest increase seemed conservative given the strong Q1 beat. He also asked how white-collar contract labor, Upwork's focus area, typically performs during a recession or when unemployment rises.
Answer
CFO Erica Gessert described the guidance as 'appropriately conservative,' reflecting firm plans to reinvest the Q1 outperformance into growth initiatives like AI and Enterprise. CEO Hayden Brown explained that a recession presents both risks (cautious spending) and opportunities (preference for contingent labor over full-time hires), emphasizing the platform's current resilience.