UPWORK INC. UPWK Balance Sheet

Upwork inc. (UPWK)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Dec'17
ASSETS
Current assets
Cash and cash equivalents
191,931	159,603	71,160	67,092	49,220	129,128	27,055	21,595
Marketable securities
79,693	85,481	60,404	62,442	71,999	0	-	-
Funds held in escrow, including funds in transit
123,556	108,721	114,593	118,302	120,085	98,186	107,479	87,195
Trade and client receivables – net of allowance of $2,102 and $2,215 as of March 31, 2020 and December 31, 2019, respectively
35,260	30,156	32,034	51,447	48,265	22,315	41,592	30,762
Prepaid expenses and other current assets
8,387	7,885	7,606	6,554	6,681	6,253	5,326	4,574
Total current assets
312,531	280,635	285,797	305,837	296,250	255,882	181,452	144,126
Property and equipment, net
24,989	21,454	20,668	19,207	12,604	10,815	6,260	3,514
Goodwill
118,219	118,219	118,219	118,219	118,219	118,219	118,219	118,219
Intangible assets, net
2,668	3,335	4,002	4,670	5,337	6,004	6,671	8,672
Operating lease asset
22,620	21,908	-	-	-	-	-	-
Other assets, noncurrent
1,040	829	904	976	1,389	653	6,240	658
Total assets
482,067	446,380	429,590	448,909	433,799	391,573	318,842	275,189
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable
1,719	652	2,934	1,521	1,542	2,073	5,471	462
Escrow funds payable
123,556	108,721	114,593	118,302	120,085	98,200	107,479	87,200
Debt, current
22,589	7,584	7,579	32,574	32,569	5,671	29,594	10,342
Accrued expenses and other current liabilities
23,394	18,342	21,898	19,132	15,606	20,948	16,911	16,030
Deferred revenue
14,386	13,799	1,587	1,130	891	722	717	614
Total current liabilities
185,644	149,098	148,591	172,659	170,693	127,600	160,172	114,643
Debt, noncurrent
8,814	10,699	12,584	14,469	16,354	18,239	19,304	23,491
Operating lease liability, noncurrent
22,489	21,186	-	-	-	-	-	-
Other liabilities, noncurrent
6,384	5,973	5,816	4,148	2,780	1,989	6,110	1,936
Total liabilities
223,331	186,956	166,991	191,276	189,827	147,828	185,586	140,070
Commitments and contingencies (Note 6)
-	-	-	-	-	-	0	-
Temporary Equity, Carrying Amount, Attributable to Parent
-	-	-	-	-	-	166,486	166,486
Stockholders’ equity
Common stock, $0.0001 par value; 490,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 114,866,938 and 113,604,398 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
11	11	11	11	11	11	4	3
Additional paid-in capital
440,703	431,370	415,669	407,876	392,188	387,233	104,900	92,222
Accumulated deficit
-181,978	-171,957	-153,081	-150,254	-148,227	-143,499	-138,134	-123,592
Total stockholders’ equity
258,736	259,424	262,599	257,633	243,972	243,745	-33,230	-31,367
Total liabilities and stockholders’ equity
482,067	446,380	429,590	448,909	433,799	391,573	318,842	275,189
Cash and cash equivalents
65,635	48,392	-	-	-	-	-	-
Allowance for doubtful accounts
2,102	2,215	-	-	-	-	-	-
Common stock, par value (in dollars per share)
0.00	0.00	-	-	-	-	-	-
Common stock, shares authorized (in shares)
490,000,000	490,000,000	-	-	-	-	-	-
Common stock, shares issued (in shares)
114,866,938	113,604	-	-	-	-	-	-
Common stock, shares outstanding (in shares)
114,866,938	113,604	-	-	-	-	-	-