Upwork earnings calls. If you have skin in this remote work game, then these calls are Netflix-like drama shows. Upwork Q1 2025 earnings call had a catch. I mean, the gymnastics that’s required to present the numbers in the best possible way for investors is legendary. Yet, this was something different: What are these catchy phrases supposed to mean? Upwork is “unlocking the enterprise opportunity” under a “new wholly-owned Enterprise subsidiary.” Nothing escapes the watchful eye of Redditors: catchy phrases What could possibly be argumentation for this Upwork’s separation? Enterprise Saucer Separation for Dummies and Freelancers Enterprise Saucer Separation for Dummies and Freelancers Just in case, you don’t know what the saucer separation is, let me quote the Star Trek experts: quote the Star Trek experts “Saucer separation, or starship separation, was an emergency or tactical maneuver performed by some Federation starships involving the complete disconnection of the primary hull and the secondary hull.” It looks cool, but the truth is, the shit has hit the space fan, and there’s nothing else to do. Are the things that bad that Upwork has to split and prioritize? Going back to the original Reddit post that initially had a completely different starting point: the original Reddit post “So going quickly into the results from Upwork, the most notable change is that y-o-y there was a reduction in clients by about 8%, from 868.000 to 796.000 - maybe now we know why many job postings do not end up in a contract. For just one year it seems like a big drop off in clients. However, this may not be related to the platform itself (believe it or not) but the US economy as key source of revenues slowing down.” That’s a lot. I’m not surprised, though. I already wrote about it: https://hackernoon.com/why-is-upwork-suspending-six-figure-clients?embedable=true https://hackernoon.com/why-is-upwork-suspending-six-figure-clients?embedable=true Here’s an Upwork picture that’s worth a thousand connects, let alone words: The ROI in this case is heartbreaking. It’s worth mentioning that these are highly experienced and rated Upwork freelancers complaining. Here’s another one: “I'm a Toprated plus freelancer with over 900 finished projects, 100% job success score and over 200k+ earned, and yet I get barely 1-2 invitations per month ( while before it was like 7-8 per DAY ) and my profile view just tanked this year.” 1-2 invitations per month ( while before it was like 7-8 per DAY ) That’s the reason why you end up with Upwork’s financial reports caught between “looking good” to “nothing to see here.” And, when there are no more options to charge freelancers, Upwork considers desperate measures, such as this one. The Independent State of Upwork Enterprise The Independent State of Upwork Enterprise “Upwork decided to make the enterprise business a stand-alone entity because enterprises have very different needs regarding compliance and software integrations than the small and midsize businesses Upwork’s main business works with.” make the enterprise business a stand-alone entity Are those the real reasons behind the new and independent state of Upwork? “Brown said that Upwork’s existing enterprise business makes up about $100 million of the company’s overall $750 million in yearly revenue.” Let me put it this way: Upwork “whales” make the most (revenue) and cost the least (support resources and costs). So, it makes perfect sense to let this part of Upwork’s body stand on its own. At the same time, Upwork is investing in “enterprise dominance” with the most recent acquisition of Bubty and Ascen. acquisition of Bubty and Ascen The way I see this, there-is-no-satisfaction-without-a-separation situation, is a bit different: Let’s separate our most profitable and cost-effective business sector. Let’s invest in it. Let’s use buzzwords to justify our decision. Let’s separate our most profitable and cost-effective business sector. Let’s invest in it. Let’s use buzzwords to justify our decision. What’s going to happen with the “secondary hull” of Upwork’s starship? Well, you can either get an invitation to join Upwork’s enterprise heaven or you can keep complaining on Reddit. If you remember, Upwork came to be after the “Great Merge” when oDesk and Elance became one new big and beautiful platform. Does this mean that the “Great Split” is going to mark the end of Upwork? I don’t know, but the news headlines aren’t promising. TechCrunch: “Upwork is buying its way into corporate staffing beyond freelancers” TechCrunch Beyond freelancers? So, freelancers aren’t enough. What?! WebProNews: “Upwork Acquires Bubty and Ascen to Target $650B Staffing Market” WebProNews Target staffing market? Shouldn’t Upwork try to improve the freelance market?! Up and Work. Which one you’re going to get? One goes up, while the other is work, work. Good luck, my fellow freelancers.
