UPWKNASDAQHOLDFree Access

Upwork (UPWK): #1 Freelance Platform at 61% Share — Gangbangcheon B × Geochajesi 8/20, AI Tailwind and AI Substitution Dilemma Coexist

Take Rate 19.4% ATH, FCF margin 28%, AI GSV +40% YoY are real — but active client decline and revenue stagnation triggered a -19.3% single-day crash on Q1 2026 earnings. Gangbangcheon B × Geochajesi 8/20 — reassess after Q2 2026 results (August).

June 3, 2026

Core Position

#1 freelance marketplace with 61% market share — navigating the AI tailwind vs. AI substitution dilemma in a profitability pivot

Investment Thesis

Upwork holds a dominant 61% share in the global freelance marketplace. Core moat: 180,000+ skill categories, AI matching powered by cumulative transaction data, and sustained Take Rate expansion (13.6% → 19.4%). FY2025 FCF margin of 28% and adj.EBITDA margin of 29% prove the Asset-light platform's profitability pivot in the numbers. AI-related GSV +40% YoY (Q1 2026) shows the platform absorbing AI trends. However, post-Q1 2026 earnings the stock fell -19.3% in a single day, and FY2026 revenue guidance was sharply cut. Persistent active client decline (851K → 785K) and decelerating revenue growth (+12% → +1.4%) reveal the limits of a "profitability-without-scale" structure. Gangbangcheon B × Geochajesi 8/20 — Watch. Reassess entry if Q2 2026 results (August report) show active client decline slowing + AI GSV acceleration re-confirmed.

① Non-Financial — 61% Share + Network Moat, but AI Dilemma Coexists

The moat rests on two pillars: ①Brand (the de facto standard for freelance marketplaces) and ②Network effects (more freelancers → more clients → more data → better matching quality, a reinforcing loop). 10+ years of accumulated transaction history, reviews, and badge systems create switching costs. CEO Hayden Brown (joined 2011, internal growth) has 94% variable performance compensation linked to revenue growth and EBITDA margin — tightly aligned with shareholders. Dispersed share ownership eliminates stealth control risks. Core dilemma: Upwork's growth driver (AI demand) simultaneously erodes its core transaction volume (mid-complexity short-term projects) — a structural double-edged dynamic. → Full moat ratings, competitive landscape, and risk analysis in the Non-Financial tab.

② Validator — Gangbangcheon B × Geochajesi 8/20 = Watch

4 of 5 Gangbangcheon steps passed. Step 1 (TAM CAGR 16.7%, AI infrastructure tailwind) ✅, Step 2 (61% market share, Grade A position, Take Rate pricing power) ✅, Step 3 (clear BM + expandability, conditional on active client decline) ✅⚠️, Step 4 (FCF margin 18–28%, EBITDA 29%, V-shape recovery confirmed) ✅, Step 5 (K-PER conservative upside +73%) ✅. All 5 conditionally pass, but active client decline and growth deceleration prevent Grade A → Grade B. Geochajesi 8/20 (Volume 2 + Chart 1 + Catalyst 3 + Market 2) — bearish chart alignment is the biggest penalty. → Full 5-step details, K-PER scenarios, and Geochajesi in the Validator tab.

③ Technical — Full Bearish MA Alignment (MA5~MA200), RSI ~30 Near Oversold

Full bearish MA alignment (MA5–MA200) persisting since Jan 30, 2026 death cross on MA50. Current price ($10.5) is -54% from 52-week high ($22.84), -83% from ATH ($60.70, Jul 2021). Q1 2026 earnings day (May 7) produced a -19.3% large red candle — trend breakdown trigger. Fibonacci retracement (high $22.84 → low $8.43): 23.6% = $11.83, 38.2% = $13.94, 50% = $15.64. Current price is still below the 23.6% level — no meaningful rebound level reached yet. RSI ~30 approaching oversold boundary, potential divergence formation zone. Conservative strategy (Scenario A): enter after $10.15 support + volume >150% confirmation, target $13.94 (R:R 2.4). → Full chart, scenarios, and signals in the Technical tab.

Key Metrics

Current Price (est. May 28)

~$10.5

52주 고점 대비 -54%

Market Cap

~$1.39B

PER ~10.8x

FY2025 FCF

$223M

FCF 마진 28%

Q1 2026 Take Rate

19.4%

사상 최고치

AI GSV Growth (Q1 2026)

+40% YoY

연환산 $300M+

Gangbangcheon×Geochajesi

B × 8/20

관망

Bull Case

Take Rate at 19.4% all-time high — monetization structure confirmed: extracting more from each transaction even as volume declines
AI-related GSV +40% YoY — structural evidence that the platform is absorbing AI trends
FY2026 EBITDA margin 33% target — FCF expansion funds sustained buybacks ($300M program)
K-PER conservative upside +73% — current price level suggests potentially extreme undervaluation historically
ChatGPT Upwork app launch (Apr 2026) — AI ecosystem integration progressing

Bear Case

Persistent active client decline (851K → 785K) — weakening demand-side health, platform deterioration signal
FY2026 revenue guidance sharply cut ($835-850M → $760-790M) — revenue growth effectively stalled
Full bearish MA alignment + -54% from 52-week high — structural time needed before institutional confidence recovers
Post-24% headcount cut momentum absent — restructuring shock + execution risk simultaneously exposed
Securities investigation ongoing — legal costs and reputational risk from alleged failure to meet investor expectations

Rating:HOLDUPWK

Technical Summary

Full bearish MA alignment across MA5–MA200. -54% from 52-week high ($22.84). Trend completely broken by Feb (-20%) and May (-19.3%) double shock. RSI ~30 near oversold boundary — short-term technical bounce possible, but entry without MA alignment resolution lacks structural basis.

UPWK Price, RSI & Trading Scenarios (Jan 2025–May 2026)

Support

$10.15 · $8.43

Resistance

$12.09 · $15.12 · $22.84

Trend Analysis

Short-term (MA20 ~$12.2): Strong bearish. Price ($10.5) is -14% below MA20. Medium-term (MA50 ~$15.1): Strong bearish. Price is -31% below MA50. Long-term (MA200 ~$16.2): Bearish. Price is -35% below MA200. MA order: full bearish alignment — MA5 < MA10 < MA20 < MA50 < MA100 < MA200 all above price. Death cross formed Jan 30, 2026 — entrenched downtrend. 2026 YTD return -31%+. -83% from ATH ($60.70).

Momentum & Indicators

RSI(14) ~30 — approaching oversold boundary. Dropped to 27–28 after Q1 earnings (May 7), then minor recovery. If price makes new lows while RSI is higher, bullish divergence forms — needs confirmation. MACD: below 0 at -1.05, negative direction vs signal line. Sustained decline since Jan 30 death cross. Bollinger Bands: near lower band, expanding — volatility expansion phase.

Key Technical Points

Support 1 (Key)

$10.15–$10.27 — near-52-week-low demand zone. Very close to current price ($10.5). Break triggers $8.43 retest.

Support 2 (Absolute)

$8.43–$8.54 — May 7, 2026 crash low + near 52-week low. Break leads to $7.44 final support.

Resistance 1

$11.33 — Pivot Point R1. $12.09–$12.19 (MA20 EMA + former support-turned-resistance) is key resistance zone.

Resistance 2–3

$14.28–$15.12 — MA50 EMA/SMA zone. $16.21–$17.25 — MA200/MA100 zone. Gateways to MA alignment reversal.

Fibonacci Retracement

Basis: high $22.84 → low $8.43. 23.6%=$11.83, 38.2%=$13.94, 50%=$15.64, 61.8%=$17.34. Current price just above 0% level ($8.43) — below all Fibonacci levels.

Pattern / Structure

Descending channel with both highs and lows declining. Feb 2026 (-20%) and May 2026 (-19.3%) double large red candles as trend accelerators. Elliott: potentially in C-wave of A-B-C correction (subjective — low confidence).

Trading Scenarios

Scenario A — Technical Bounce (Conservative, Recommended)R:R 2.4

Entry

Enter 1/2 position after $10.15 support confirmation + volume >150% of 20-day avg with inside candle

Stop

$8.80 (approx. -14%, closing basis)

Target

1st $11.83 (Fib 23.6%), 2nd $13.94 (Fib 38.2%)

R:R 0.9 to 1st target alone — below threshold. R:R 2.4 to 2nd target meets the standard. Given multiple resistances in bearish alignment, pre-commit to holding for 2nd target.

Scenario B — Further Decline (Watch)R:R 1.3

Entry

Watch only if $10.15 breaks. Reassess on bounce after $8.43–$8.54 retest

Stop

$7.44 (52-week low) break invalidates any entry

Target

$10.15–$10.27 (former support → resistance)

Bearish MA alignment continues. If Q2 2026 guidance is further cut, $6–$7 extreme decline possible. No new buy rationale in current zone.

Scenario C — Long-term Staged Entry (Conditional)R:R 2.0

Entry

Enter when all 4 conditions met in Q2 2026 earnings (August): ①client decline within -3%, ②MA20 upside break, ③volume >150% avg, ④AI GSV share 10%+ officially reported

Stop

-7% from entry-day intraday low

Target

$16.21 (MA200) and above → R:R 2.0+

Geochajesi recovery to 14+ is a prerequisite. No entry without all conditions met. Long-term (2yr+) targets K-PER base scenario upside of +188%.

Bullish Signals

↑

RSI ~30 near oversold — historically high-probability zone for short-term technical bounce

↑

Near key $10.15–$10.27 support zone — psychological support level effect expected

↑

Q1 2026 EPS $0.35 (consensus +30% earnings surprise) — possible fundamental undervaluation vs price

↑

EBITDA margin 33% target + $300M buyback — shareholder value commitment confirmed

↑

AI-related GSV +40% YoY — platform's AI absorption ongoing

Bearish Risks

↓

Full bearish MA alignment + death cross 4+ months old — structurally entrenched downtrend

↓

-54% from 52-week high ($22.84) — cascading analyst target price downgrades

↓

Two consecutive -19–20% large red candles on earnings days — institutional structural selling pattern

↓

Securities investigation underway (post-Q1 earnings) + Short Interest 16.25% — persistent overhang risk

↓

Active clients down from 851K (2023 peak) to 785K (2025) — sustained demand-side structural weakening

Editor Note

A textbook case of a good company becoming a bad stock. Take Rate expansion, 28% FCF, and AI GSV growth are real strengths — but the limits of profitability-without-growth exploded in Q1 2026 earnings. RSI ~30 provides technical grounds for a short-term bounce, but the "early contrarian entry" trap is large within full bearish MA alignment. Watching and waiting is the best strategy until August Q2 results simultaneously confirm (1) active client decline slowing (within -3%) and (2) AI GSV acceleration.

* Technical analysis is based on historical data and does not guarantee future returns. Final investment decisions are your own responsibility.

Upwork 4-Year Financials (Revenue, Op. Income, FCF & EBITDA Margins)

Switching Cost & Moat

Moat Strength by Type

Brand

De facto standard in freelance marketplaces. 30%+ Fortune 500 clients. "Upwork-verified" freelancer as a trust signal

Strong

Network Effects

Two-sided marketplace flywheel: more freelancers → more clients → more data → better matching. 61% market share is the output of this flywheel

Strong

Switching Costs

10+ years of accumulated reviews, badges, and JSS cannot be rebuilt on other platforms. However, platform-level switching costs are inherently low

Medium-Strong

Cost Structure

Asset-light structure achieves operating leverage without CAPEX. EBITDA margin –0.6% (2022) → 28.7% (2025). Further improvement via restructuring underway

Medium

Upwork's core moat is the combination of brand and network effects. In freelance marketplaces, the perception of being an 'Upwork-verified freelancer' itself functions as a trust signal. 180,000+ skill categories, freelancer supply from 180+ countries, and $4B in annual transaction data create a reinforcing loop strengthening AI matching. 10+ years of accumulated reviews, badges, and Job Success Scores form switching costs away from competing platforms. Pricing power is partially confirmed — Take Rate rise from 13.6% (2020) to 19.4% (Q1 2026) is the evidence. However, AI replacing mid-complexity short-term projects simultaneously erodes the platform's core transaction volume — a structural threat that exists at the same time.

Management & Governance

CEO Hayden Brown (age 43) joined as PM in 2011 and became CEO in January 2020 — an internal career trajectory. Background: McKinsey → Microsoft → LivePerson → Upwork. Deep platform understanding, with 94% of compensation in variable performance pay (PSUs linked to revenue growth rate + adjusted EBITDA margin) — tightly aligned with shareholders. Required to hold 5x+ base salary in stock (met as of end-2024). Capital allocation: $100M buyback completed + $300M additional program approved. 4 M&As in 2023–2024 (including Objective AI for AI capability building) show clear strategic direction. Ramen point: announced 24% (~145 person) workforce reduction on May 24, 2026 — framed as "AI-based operating model transition," but also carries defensive flavoring as Q1 disappointment response. Post-restructuring execution capability and culture stability are the key watch items.

Competitive Landscape

Fiverr (FVRR)

High

#2 (15%). Specializes in small/short-term packages. Lower ASP than Upwork but higher client count (~3.5M). AI tool integration race accelerating

Toptal

Medium

Top 3% elite freelancer specialization. Targets high-value professional talent market. Direct competition with Upwork Enterprise segment. Private company

AI 코딩 도구 (Copilot/Cursor)

Rising

GitHub Copilot, Cursor automating simple development tasks. ~30–40% of Upwork total GSV is development-related — the largest potential substitution threat

Medium

Overlaps with full-time hiring but limited direct competition in independent contractor market. Watch for short-term contract feature expansion trend

In the freelance platform market, Upwork (61%) dominates Fiverr (15%) as a clear #1. Upwork is positioned for professional/long-term projects; Fiverr for small/short-term packages. Fortune 500 30%+ using Upwork as enterprise clients is a key strength. Direct competitors: Fiverr, Toptal (top 3% elite focus), Freelancer.com. Indirect: LinkedIn (overlaps with regular hiring), AI coding tools (GitHub Copilot, Cursor — replacing mid-complexity dev work), AI agent platforms. Core competitive advantage: $4,800+/year spend per client (~16x vs Fiverr), enterprise client expansion, Take Rate pricing power. Structural threat: commoditization of open-source AI tools automating "easy freelance tasks" erodes the lower tier of platform volume.

ESG & Summary

As an asset-light software company, direct carbon emissions are minimal. As a remote work enablement platform, indirect contribution to carbon footprint reduction. Diversity: social value in creating economic opportunities for freelancers in digitally underserved regions. However, platform freelancer legal status (employee vs. independent contractor) is a potential risk in US/EU regulatory environments. May 2026 24% workforce reduction raises employment stability concerns for internal staff. Governance: good structure with dispersed ownership + CEO performance-linked compensation. Shareholder return: $100M completed + $300M in progress. Climate targets and ESG report disclosure is at US mid-cap IT average.

Key Risks

AI Substitution Dilemma

Upwork's growth driver (AI-related GSV) and core transaction erosion (automation of mid-complexity short-term projects) occur simultaneously. If AI coding tools automate development work, the platform's transaction volume itself declines. The key uncertainty: whether new AI-related demand creation grows faster than AI-driven erosion.

Structural Active Client Decline

Persistent decline from 851K peak (2023) to 785K (2025), 794K in Q3 2025. Management explains as "focusing on high-value clients," but also readable as weakening demand-side platform health. If per-client GSV growth cannot offset the client count decline, overall GSV will remain stalled.

Sharply Decelerating Revenue Growth

FY2022 +23% → FY2024 +12% → FY2025 +2.4% → Q1 2026 +1.4%. FY2026 guidance $760-790M (effectively flat). Take Rate expansion alone is increasingly insufficient to offset GSV stagnation. Approaching the limits of profitability-without-scale improvement.

Securities Investigation Risk

Securities investigation launched after the Q1 2026 sharp guidance cut — potential legal costs and reputational damage related to alleged failure to meet investor expectations. No definitive outcome yet, but uncertainty deters institutional investor participation.

Post-Restructuring Execution Risk

After 24% (~145 person) workforce reduction, potential talent attrition, slower product development, and cultural instability could delay the AI platform transition. If restructuring benefits remain limited to cost savings without growth acceleration, market trust recovery will be further delayed.

Gangbangcheon 4/5 passed

4 of 5 Gangbangcheon steps passed. Step 3 is conditional due to active client decline and growth deceleration, but FCF 28%, EBITDA 29%, and K-PER conservative upside +73% support Grade B. Geochajesi 8/20 — bearish chart alignment is the biggest penalty. Re-enter when all 4 buy conditions are met: ①client decline within -3%, ②MA20 upside break+volume, ③AI GSV share 10%+ disclosed, ④Geochajesi 14+.

Upwork 4-Year Financials (Revenue, Op. Income, FCF & EBITDA Margins)

Gangbangcheon 5-Step Checklist

✓

Step 1

Industry & Infrastructure — Freelance Platform TAM CAGR 16.7%, AI Infrastructure Direct Beneficiary

Freelance platform market: $7.65B (2025) → $16.54B (2030, CAGR 16.7%). Remote work normalization + AI tool proliferation provide structural demand support for professional freelancers. Upwork is directly positioned in the AI infrastructure transition — AI-related GSV at $300M+ annualized (Q1 2026 +40% YoY). AI agents requiring human experts to orchestrate complex tasks is also a structural tailwind.

✓

Step 2

Market Position Grade A — 61% Share, Take Rate Pricing Power

Dominant #1 position with 61.25% freelance platform market share. Large gap over Fiverr (14.85%), Toptal (8%), etc. Sustained Take Rate rise from 13.6% (2020) to 19.4% (Q1 2026) — evidence of pricing power. However, active client decline and GSV stagnation signal the limits of that pricing power.

✓

Step 3

Business Model ✅⚠️ — Clear BM, Expandability Exists, but Active Client Decline

Two-sided marketplace + multi-layer subscription/advertising revenue structure (~87% marketplace fees + ~13% enterprise). Active BM expansion attempts: Uma (AI assistant), Lifted (enterprise subsidiary), ChatGPT app integration. However, active clients declined from 851K peak (2023) to 785K (2025) — sustainability questioned for "monetization without volume growth where only Take Rate rises."

✓

Step 4

Financial Quality — FCF Margin 28%, EBITDA 29%, V-Shape Recovery Confirmed

V-shape recovery: EBITDA –0.6% (FY2022) → 28.7% (FY2025). FCF $223M (28% margin), ROA 9.1% (FY2025). P(Take Rate)↑ Q(partial)↑ C↓ combination improves monetization efficiency. Note: FY2024 ROE 45.2% is distorted by $140M one-time tax benefit + equity reduction from buybacks. Normalized ROE ~15.9%.

✓

Step 5

K-PER Upside — Conservative Scenario +73%

Base operating income FY2025 $129M. Company type: platform + network effects (fair PER 15–25x), but current growth deceleration warrants general growth multiple (14–22x). Current market cap ~$1.39B. Conservative scenario (+10% CAGR 3yr, K-PER 14x) upside +73% — threshold met.

K-PER Scenario Analysis (3-Year Target)

Base operating income: FY2025 $129M. Current market cap ~$1.39B. Company type: platform + network effects (normally 30–50x P/E), but conservatively applying general growth stock multiples (14–22x) given current revenue growth deceleration (+1.4%). FY2026 guidance: revenue $760–790M, adj.EBITDA $250–260M (33% margin target).

Scenario	Annual Growth	Non-GAAP Profit	Applied PER	Target Cap	Upside
Optimistic	+30%	$285M	22x	~$6.3B	+353%
Base	+20%	$223M	18x	~$4.0B	+188%
Conservative	+10%	$172M	14x	~$2.4B	+73%

Geochajesi Score (8/20)

Volume2/5

Real-time intraday volume unconfirmed. Institutional selling dominant (UBS, Scotiabank, Needham, etc. cut targets or ratings). Goldman Sachs sole Buy maintained ($27 target). Large one-off net sell confirmed (post-Mar 13, 2026). Real-time order flow intensity data unavailable.

Chart1/5

Full bearish MA alignment (MA5–MA200). -54% from 52-week high ($22.84). Death cross 4+ months old. RSI ~30 (oversold approaching — sole positive element). Back-to-back -19–20% large red candles in Feb and May 2026. Investing.com "Strong Sell" signal.

Catalyst3/5

Q1 2026 EPS $0.35 (consensus +30% surprise) — Grade A catalyst. AI GSV +40% YoY (Q1) — structural growth evidence. ChatGPT Upwork app launch (April) — AI ecosystem integration. However, sharp guidance cut overwhelmed all positive catalysts. Potential catalyst vacuum until Q2 results (expected August).

Market Condition2/5

Ongoing concerns over Trump tariff uncertainty + slowing employment reducing corporate freelance spending. Rate cut expectations positive for growth stocks but near-term uncertainty persists. Upwork sector (gig economy/HR Tech) underperforming while Nasdaq rises.

Total8/20

Entry Strategy (3 Tranches)

Current Zone (No Entry)$10.15~$11.0

No entry on RSI bounce alone within bearish alignment. Geochajesi 8 is watch threshold. No position until all 4 conditions are simultaneously met.

Tranche 1 (50%, Conditional)$10.15~$10.5

Enter 1/2 after $10.15 support + volume >150% of 20-day avg. Stop: $8.80. Target: $13.94 (Fib 38.2%), R:R 2.4.

Tranche 2 (50%, Secondary Support)$8.43~$8.54

Remaining 1/2 if $8.43 support confirmed with bounce candle after $10.15 break. If $8.43 breaks → $7.44 final support, full exit.

Full Position on Condition CompletionMA20 돌파 + 거래량 + Q2 조건 충족

Deploy full target position when all 4 buy conditions are simultaneously confirmed in Q2 2026. Targets K-PER base scenario upside +188% on a long-term (2yr+) horizon.

Exit Triggers

$8.43 (2nd support) closing break → immediate full exit

Q2 2026 active client decline accelerates (-5% or worse) → full exit

FY2026 revenue guidance cut further (< $750M) → immediately reduce 50%

Take Rate growth stalls + revenue decline for 2 consecutive quarters → BM deterioration signal, full exit

$22.84 (52-week high) breakout + volume → raise target to K-PER optimistic scenario ($6.3B), apply trailing stop

⚖

Portfolio Weight Recommendation

New entry at current price: 0% (watch). After 4 conditions confirmed, enter maximum 50% of target weight for Tranche 1. Execute remaining 50% after Q2 earnings confirmation. Short-term swing: small (20–30% of target) after $10.15 support confirmation only. Long-term (2yr+): gradual position building possible after FCF/EBITDA confirmation.

Editor Note

Take Rate 19.4%, FCF 28%, AI GSV +40% — Upwork's profitability pivot is real. But the stock-friendly narrative of 'profitability improvement without growth' exploded with the Q1 2026 earnings release. K-PER conservative upside +73% suggests historical undervaluation, but full bearish MA alignment and securities investigation risk block near-term entry. If August Q2 earnings show active client decline slowing to within -3% and AI GSV acceleration re-confirmed, that's when the Gangbangcheon B × Geochajesi conditions are finally met for a meaningful entry. For now, waiting is the strongest position.

Financial Data

Upwork fiscal year: Calendar aligned (Jan 1–Dec 31). FY2025 = Jan–Dec 2025. Currently in FY2026 Q2. Q1 2026 earnings reported May 7, 2026.

Period	Revenue	Growth	Op. Income	Op. Margin
FY2022adj.EBITDA –$4M (–0.6%). FCF –$26M. Take Rate 13.8%	$618M	+23.0%	–$97M	–15.7%
FY2023adj.EBITDA +$73M (+10.6%). FCF +$73M (+10.6%). Take Rate 15.4%. V-shape recovery begins	$689M	+11.5%	+$17M	+2.5%
FY2024adj.EBITDA +$168M (+21.8%). FCF +$139M (+18%). Net income $216M includes one-time $140M tax benefit	$769M	+11.6%	+$82M	+10.7%
FY2025adj.EBITDA +$226M (+28.7%). FCF +$223M (+28%). Active clients 785K	$788M	+2.4%	+$129M	+16.4%
Q1 2026EPS $0.35 (consensus +30% surprise). FY2026 guidance cut to $760-790M. Stock fell -19.3% on announcement day	$195.5M	+1.4% YoY	–(상세 미공개)	–

GAAP vs Non-GAAP Note

FY2024 net income of $216M includes $140M one-time tax benefit; normalized ~$76M is the true profitability benchmark. FY2025 operating income $129M is GAAP; adj.EBITDA ($226M) differs primarily due to SBC (stock-based compensation) as the main adjustment. Buyback: $100M completed + $300M additional program in progress.

Key Valuation Metrics

Take Rate (Q1 2026)

19.4%

All-time high. +5.8pp vs 13.6% in 2020

FCF Margin (FY2025)

28%

$223M. Sharp improvement from 18% in FY2024

adj.EBITDA Margin (FY2025)

28.7%

$226M. FY2026 target 33%

Active Clients

785K

Down from 851K peak in 2023, ongoing decline

* GAAP basis. All figures are estimates based on public information and are not investment advice.

Same Exchange

← Back to Company Analysis