Upwork Investor Day Presentation Deck
Key Metric
Definitions
Appendix
June 2021
Ⓒ2021 Upwork Inc. Proprietary and confidential. Do not distribute.
Active Clients
A client who has had spend activity during the trailing 12-month period is
considered active.
Client Cohort
A client belongs to an annual or quarterly cohort, as the case may be, based on
the date of first spend activity with a freelancer.
Client Spend Retention
Client spend retention is calculated by dividing our recurring client spend by our
base client spend. We define base client spend as the aggregate client spend
from all clients during the four quarters ended one year prior to the date of
measurement. We define our recurring client spend as the aggregate client spend
during the four quarters ended on the date of measurement from the same clients
included in our measure of base client spend.
Core Clients
A core client is defined as a client that has spent in the aggregate at least
$5,000 since beginning to use our platform and also had spend activity during
the 12 months preceding the date of measurement.
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