- Increased Q4 2024 subscription & support revenue by 22%
over Q4 2023
- Total revenue of $200 million in Q4 2024, representing 20%
year-over-year growth
- Customers with annual contract value over $500,000 grew 32%
year-over-year
Workiva Inc. (NYSE:WK), the world’s leading cloud platform for
assured integrated reporting, today announced financial results for
its fourth quarter and full year ended December 31, 2024.
"Our Q4 results contributed to a year of accelerating growth as
we executed on our strategy across financial, operational, and
innovation initiatives," said Julie Iskow, President & Chief
Executive Officer. "Our platform continues to resonate resulting in
broad-based global demand for our solutions. Through the power of
our assured integrated reporting platform and our expanding partner
ecosystem, we’re consistently increasing the value we deliver to
our customers. We enter 2025 confident about our market opportunity
and ability to execute on our large and untapped total addressable
market."
"Q4 was a great quarter, capping off a year marked by improved
productivity and execution," said Jill Klindt, Chief Financial
Officer. "Subscription revenue grew by 22% in Q4, driving our total
revenue beat to $4 million over the high end of our guidance range.
Account expansion activity across our platform accelerated our net
retention rate to 112% compared to 110% in Q4 of last year."
Fourth Quarter 2024 Financial
Results
- Revenue: Total revenue for the fourth quarter of 2024
reached $200 million, an increase of 20% from $167 million in the
fourth quarter of 2023. Subscription and support revenue
contributed $181 million, up 22% versus the fourth quarter of 2023.
Professional services revenue was $19 million, up 6% from $18
million in the fourth quarter of 2023.
- Gross Margin: GAAP gross margin was 77.2% versus 77.3%
in the fourth quarter of 2023. Non-GAAP gross margin was 79.2%
compared to 78.4% in the fourth quarter of 2023.
- Results from Operations: GAAP loss from operations for
the fourth quarter of 2024 was $13 million compared with a loss of
$9 million in the prior year's fourth quarter. Non-GAAP income from
operations was $15 million compared with non-GAAP income from
operations of $13 million in the fourth quarter of 2023.
- GAAP Net Loss: GAAP net loss for the fourth quarter of
2024 was $9 million compared with a net loss of $4 million for the
prior year's fourth quarter. GAAP net loss per basic and diluted
share was $0.16 compared with a net loss per basic and diluted
share of $0.08 in the fourth quarter of 2023.
- Non-GAAP Net Income: Non-GAAP net income for the fourth
quarter of 2024 was $19 million compared with non-GAAP net income
of $18 million in the prior year's fourth quarter. Non-GAAP net
income per basic share and diluted share in the fourth quarter of
2024 was $0.35 and $0.33, respectively, compared with non-GAAP net
income per basic share and diluted share of $0.33 and $0.32,
respectively, in the fourth quarter of 2023.
- Liquidity: As of December 31, 2024, Workiva had cash,
cash equivalents, and marketable securities totaling $816 million,
compared with $814 million as of December 31, 2023. Workiva had $71
million aggregate principal amount of 1.125% convertible senior
notes due in 2026, $702 million aggregate principal amount of
1.250% convertible senior notes due in 2028, and $14 million of
finance lease obligations outstanding as of December 31, 2024.
Key Metrics and Recent Business
Highlights
- Customers: Workiva had 6,305 customers as of December
31, 2024, a net increase of 271 customers from December 31,
2023.
- Retention Rate: As of December 31, 2024, Workiva's gross
retention rate was 97%, and the net retention rate was 112%. Net
retention includes changes in both solutions and pricing for
existing customers.
- Large Contracts: As of December 31, 2024, Workiva had
2,055 customers with an annual contract value (“ACV”) of more than
$100,000, up 26% from 1,631 customers at December 31, 2023. Workiva
had 416 customers with an ACV of more than $300,000, up 34% from
311 customers in the fourth quarter of 2023. Workiva had 181
customers with an ACV of more than $500,000, up 32% from 137
customers in the fourth quarter of 2023.
Full Year 2024 Financial
Results
- Revenue: Total revenue for the full year 2024 reached
$739 million, an increase of 17% from $630 million in 2023.
Subscription and support revenue contributed $668 million, up 20%
compared to 2023. Professional services revenue was $71 million,
relatively flat compared to the prior year.
- Gross Margin: GAAP gross margin was 76.7% versus 75.6%
in the prior year. Non-GAAP gross margin was 78.5% compared to
76.7% in the prior year.
- Results from Operations: GAAP loss from operations for
2024 was $77 million compared with a loss of $95 million in the
prior year. Non-GAAP income from operations was $32 million,
compared with non-GAAP income from operations of $10 million in
2023.
- GAAP Net Loss: GAAP net loss for 2024 was $55 million
compared with a net loss of $128 million in the prior year. GAAP
net loss per basic and diluted share was $0.99 compared with a net
loss per basic and diluted share of $2.36 in 2023.
- Non-GAAP Net Income/Loss: Non-GAAP net income for 2024
was $54 million compared with a non-GAAP net loss of $23 million in
the prior year. Non-GAAP net income per basic share and diluted
share was $0.97 and $0.94, respectively, compared with a non-GAAP
net loss per basic and diluted share of $0.42 in 2023.
- Cash Flow: Net cash provided by operating activities was
$88 million in 2024, compared to cash provided by operating
activities of $71 million in 2023. Free cash flow was $86 million
in 2024 compared to free cash flow of $69 million in 2023. Free
cash flow margin was 11.7% in 2024 compared to 10.9% in 2023.
Financial Outlook
As of February 25, 2025, Workiva is providing guidance as
follows:
First Quarter 2025 Guidance:
- Total revenue is expected to be in the range of $203 million to
$205 million.
- GAAP operating margin is expected to be approximately
(14.3)%.
- Non-GAAP operating margin is expected to be approximately
break-even.
- GAAP net loss per basic share is expected to be approximately
$(0.45) using 56.4 million shares.
- Non-GAAP net income per diluted share is expected to be
approximately $0.07 using 57.9 million shares.
Full Year 2025 Guidance:
- Total revenue is expected to be in the range of $864 million to
$868 million.
- GAAP operating margin is expected to be approximately (9.1)% to
(8.6)%.
- Non-GAAP operating margin is expected to be approximately 5.0%
to 5.5%.
- GAAP net loss per basic share is expected to be approximately
$(1.07) to $(1.00) using 56.9 million shares.
- Non-GAAP net income per diluted share is expected to be
approximately $1.02 to $1.09 using 60.1 million shares.
- Free cash flow margin is expected to be approximately
12.0%.
Quarterly Conference
Call
Workiva will host a webcast today at 5:00 p.m. Eastern Time to
review the Company’s financial results for the fourth quarter and
full fiscal year 2024, in addition to discussing the Company’s
outlook for the first quarter and full year 2025. The call can be
accessed by dialing 1-833-630-1956 (U.S. domestic) or
1-412-317-1837 (international). Additionally, a live webcast and
replay will be available at
https://investor.workiva.com/news-events/events.
About Workiva
Workiva Inc. (NYSE:WK) is on a mission to power transparent
reporting for a better world. We build and deliver the world’s
leading cloud platform for assured integrated reporting to meet
stakeholder demands for action, transparency, and disclosure of
financial and non-financial data. Workiva offers the only unified
SaaS platform that brings customers’ financial reporting,
sustainability management, and governance, risk, and compliance
(GRC) in a controlled, secure, audit-ready platform. Our platform
simplifies the most complex reporting and disclosure challenges by
streamlining processes, connecting data and teams, and ensuring
consistency. Learn more at workiva.com.
Non-GAAP Financial
Measures
The non-GAAP adjustments referenced herein relate to the
exclusion of stock-based compensation and amortization of
acquisition-related intangible assets. A reconciliation of GAAP to
non-GAAP historical financial measures has been provided in Table I
at the end of this press release. A reconciliation of GAAP to
non-GAAP guidance has been provided in Table II at the end of this
press release.
Workiva believes that the use of non-GAAP gross profit and gross
margin, non-GAAP income (loss) from operations, non-GAAP net income
(loss), non-GAAP net income (loss) per share, free cash flow and
free cash flow margin is helpful to its investors. These measures,
which are referred to as non-GAAP financial measures, are not
prepared in accordance with generally accepted accounting
principles in the United States, or GAAP. Workiva’s management uses
these non-GAAP financial measures as tools for financial and
operational decision making and for evaluating Workiva’s own
operating results over different periods of time.
Non-GAAP gross margin is the ratio calculated by dividing
non-GAAP gross profit by revenues. Non-GAAP gross profit is
calculated by excluding stock-based compensation expense
attributable to cost of revenues from gross profit. Non-GAAP income
(loss) from operations is calculated by excluding stock-based
compensation expense and amortization expense for
acquisition-related intangible assets from loss from operations.
Non-GAAP net income (loss) is calculated by excluding stock-based
compensation expense, net of tax and amortization expense for
acquisition-related intangible assets from net loss. Non-GAAP net
income (loss) per share is calculated by dividing non-GAAP net
income (loss) by the weighted- average shares outstanding as
presented in the calculation of GAAP net loss per share. Because of
varying available valuation methodologies, subjective assumptions
and the variety of equity instruments that can impact a company’s
non-cash expenses, Workiva believes that providing non-GAAP
financial measures that exclude stock-based compensation expense
allows for more meaningful comparisons between its operating
results from period to period. For business combinations, we
generally allocate a portion of the purchase price to intangible
assets. The amount of the allocation is based on estimates and
assumptions made by management and is subject to amortization. The
amount of purchase price allocated to intangible assets and the
term of its related amortization can vary significantly and are
unique to each acquisition and thus we do not believe they are
reflective of ongoing operations.
Free cash flow, a non-GAAP measure, represents cash flow from
operating activities less purchase of property and equipment. Free
cash flow margin is calculated by dividing free cash flow by total
revenue. We consider free cash flow and free cash flow margin to be
liquidity measures that provide useful information to investors
about the amount of cash generated or used by the business.
Non-GAAP financial measures may not provide information that is
directly comparable to that provided by other companies in
Workiva’s industry, as other companies in the industry may
calculate non-GAAP financial results differently. In addition,
there are limitations in using non-GAAP financial measures because
the non-GAAP financial measures are not prepared in accordance with
GAAP, may be different from non-GAAP financial measures used by
other companies and exclude expenses that may have a material
impact on Workiva’s reported financial results. Further,
stock-based compensation expense has been and will continue to be
for the foreseeable future a significant recurring expense in
Workiva’s business and an important part of the compensation
provided to its employees. The presentation of non-GAAP financial
information is not meant to be considered in isolation or as a
substitute for the directly comparable financial measures prepared
in accordance with GAAP. Investors should review the reconciliation
of non-GAAP financial measures to the comparable GAAP financial
measures included below, and not rely on any single financial
measure to evaluate Workiva’s business.
Forward-Looking
Statements
Certain statements in this press release are "forward-looking
statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and are subject to the safe
harbor created thereby. These statements relate to future events or
the Company’s future financial performance and involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those
expressed or implied by any forward-looking statements. In
particular, statements about the Company’s expectations, beliefs,
plans, objectives, assumptions, future events or future performance
contained in this press release are forward-looking statements. In
some cases, forward-looking statements can be identified by
terminology such as "may," "will," "could," "would," "should,"
"expect," "plan," "anticipate," "intend," "believe," "estimate,"
"predict," "potential," "outlook," "guidance," "target," "goal,"
"project," "continue to," "confident," or the negative of those
terms or other comparable terminology.
Please see the Company’s documents filed or to be filed with the
Securities and Exchange Commission, including the Company’s annual
reports filed on Form 10-K and quarterly reports on Form 10-Q, and
any amendments thereto for a discussion of certain important risk
factors that relate to forward-looking statements contained in this
report. The Company has based these forward-looking statements on
its current expectations, assumptions, estimates and projections.
While the Company believes these expectations, assumptions,
estimates and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks
and uncertainties, many of which are beyond the Company’s control.
These and other important factors may cause actual results,
performance or achievements to differ materially from those
expressed or implied by these forward-looking statements. Any
forward-looking statements are made only as of the date hereof, and
unless otherwise required by applicable securities laws, the
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
WORKIVA INC.
CONSOLIDATED STATEMENTS OF
OPERATIONS
(in thousands, except share
and per share amounts)
Three months ended December
31,
Year ended December
31,
2024
2023
2024
2023
(unaudited)
Revenue
Subscription and support
$
180,897
$
148,788
$
667,646
$
558,645
Professional services
18,992
17,865
71,034
71,394
Total revenue
199,889
166,653
738,680
630,039
Cost of revenue
Subscription and support (1)
32,204
25,113
118,697
99,193
Professional services (1)
13,485
12,732
53,358
55,029
Total cost of revenue
45,689
37,845
172,055
154,222
Gross profit
154,200
128,808
566,625
475,817
Operating expenses
Research and development (1)
50,607
42,555
192,935
172,790
Sales and marketing (1)
90,157
71,867
347,243
287,035
General and administrative (1)
26,756
23,859
102,981
110,519
Total operating expenses
167,520
138,281
643,159
570,344
Loss from operations
(13,320
)
(9,473
)
(76,534
)
(94,527
)
Interest income
9,306
10,336
39,395
25,882
Interest expense
(3,197
)
(3,202
)
(12,865
)
(53,639
)
Other income and (expense), net
872
(364
)
563
(1,814
)
Loss before provision for income taxes
(6,339
)
(2,703
)
(49,441
)
(124,098
)
Provision for income taxes
2,476
1,493
5,601
3,427
Net loss
$
(8,815
)
$
(4,196
)
$
(55,042
)
$
(127,525
)
Net loss per common share:
Basic and diluted
$
(0.16
)
$
(0.08
)
$
(0.99
)
$
(2.36
)
Weighted-average common shares outstanding
- basic and diluted
55,739,950
54,432,003
55,355,381
54,099,757
(1) Includes stock-based compensation
expense as follows:
Three months ended December
31,
Year ended December
31,
2024
2023
2024
2023
(unaudited)
Cost of revenue
Subscription and support
$
2,271
$
1,298
$
7,979
$
5,030
Professional services
873
617
3,221
2,540
Operating expenses
Research and development
5,562
4,764
21,036
18,441
Sales and marketing
8,869
7,005
35,339
27,774
General and administrative
8,696
7,052
34,575
44,980
WORKIVA INC.
CONSOLIDATED BALANCE
SHEETS
(in thousands)
As of December 31,
2024
2023
Assets
Current assets
Cash and cash equivalents
$
301,835
$
256,100
Marketable securities
514,585
557,622
Accounts receivable, net
148,433
125,193
Deferred costs
50,914
39,023
Other receivables
10,276
7,367
Prepaid expenses and other
22,199
23,631
Total current assets
1,048,242
1,008,936
Property and equipment, net
21,825
24,282
Operating lease right-of-use assets
11,786
12,642
Deferred costs, non-current
54,858
33,346
Goodwill
196,844
112,097
Intangible assets, net
27,389
22,892
Other assets
7,525
4,665
Total assets
$
1,368,469
$
1,218,860
Liabilities and Stockholders’
Deficit
Current liabilities
Accounts payable
$
7,747
$
5,204
Accrued expenses and other current
liabilities
126,508
97,921
Deferred revenue
457,608
380,843
Finance lease obligations
562
532
Total current liabilities
592,425
484,500
Convertible senior notes, non-current
764,891
762,455
Deferred revenue, non-current
29,681
36,177
Other long-term liabilities
227
178
Operating lease liabilities,
non-current
9,441
10,890
Finance lease obligations, non-current
13,488
14,050
Total liabilities
1,410,153
1,308,250
Stockholders’ deficit
Common stock
56
54
Additional paid-in-capital
672,363
562,942
Accumulated deficit
(707,683
)
(652,641
)
Accumulated other comprehensive (loss)
income
(6,420
)
255
Total stockholders’ deficit
(41,684
)
(89,390
)
Total liabilities and stockholders’
deficit
$
1,368,469
$
1,218,860
WORKIVA INC.
CONSOLIDATED STATEMENTS OF
CASH FLOWS
(in thousands)
Three months ended December
31,
Year ended December
31,
2024
2023
2024
2023
(unaudited)
Cash flows from operating
activities
Net loss
$
(8,815
)
$
(4,196
)
$
(55,042
)
$
(127,525
)
Adjustments to reconcile net loss to net
cash provided by operating activities
Depreciation and amortization
2,911
2,787
11,003
11,140
Stock-based compensation expense
26,271
20,736
102,150
98,765
Provision for doubtful accounts
85
353
39
410
Accretion of premiums and discounts on
marketable securities, net
(2,286
)
(3,186
)
(11,829
)
(7,716
)
Amortization of debt discount and issuance
costs
610
608
2,436
1,730
Induced conversion expense
—
—
—
45,144
Realized loss on sale of
available-for-sale securities, net
—
—
—
708
Deferred income tax
(337
)
3
(629
)
(14
)
Changes in assets and liabilities:
Accounts receivable
(12,845
)
(25,561
)
(24,352
)
(18,318
)
Deferred costs
(19,337
)
(5,971
)
(34,477
)
277
Operating lease right-of-use asset
1,328
1,177
5,136
4,984
Other receivables
(1,680
)
(334
)
1,116
(2,176
)
Prepaid expenses and other
(1,311
)
(1,038
)
1,453
(5,023
)
Other assets
(1,094
)
751
(2,285
)
2,230
Accounts payable
(5,231
)
265
2,399
(1,002
)
Deferred revenue
51,681
37,887
73,840
60,112
Operating lease liability
(907
)
(1,004
)
(3,738
)
(4,133
)
Accrued expenses and other liabilities
14,927
1,065
20,486
11,282
Net cash provided by operating
activities
43,970
24,342
87,706
70,875
Cash flows from investing
activities
Purchase of property and equipment
(809
)
(392
)
(1,363
)
(2,124
)
Purchase of marketable securities
(92,160
)
(251,296
)
(402,235
)
(573,304
)
Maturities of marketable securities
106,290
76,547
452,023
153,358
Sale of marketable securities
—
—
4,609
65,052
Acquisitions, net of cash acquired
—
—
(98,092
)
—
Purchase of intangible assets
(74
)
(68
)
(191
)
(235
)
Net cash provided by (used in) investing
activities
13,247
(175,209
)
(45,249
)
(357,253
)
Cash flows from financing
activities
Proceeds from option exercises
1,044
1,148
4,909
4,472
Taxes paid related to net share
settlements of stock-based compensation awards
(34
)
(35
)
(11,458
)
(9,459
)
Proceeds from shares issued in connection
with employee stock purchase plan
—
—
13,822
12,513
Proceeds from the issuance of convertible
senior notes, net of issuance costs
—
—
—
691,113
Payments for repurchase of convertible
senior notes
—
—
—
(396,869
)
Principal payments on finance lease
obligations
(137
)
(129
)
(532
)
(505
)
Net cash provided by financing
activities
873
984
6,741
301,265
Effect of foreign exchange rates on
cash
(4,494
)
1,719
(3,569
)
1,637
Net increase (decrease) in cash, cash
equivalents, and restricted cash
53,596
(148,164
)
45,629
16,524
Cash, cash equivalents, and restricted
cash at beginning of period
248,754
404,885
256,721
240,197
Cash, cash equivalents, and restricted
cash at end of period
$
302,350
$
256,721
$
302,350
$
256,721
Three months ended December
31,
Year ended December
31,
2024
2023
2024
2023
(unaudited)
Reconciliation of cash, cash
equivalents, and restricted cash to the consolidated balance
sheets
Cash and cash equivalents at end of
period
$
301,835
$
256,100
$
301,835
$
256,100
Restricted cash included within prepaid
expenses and other at end of period
515
621
515
621
Total cash, cash equivalents, and
restricted cash at end of period shown in the consolidated
statements of cash flows
$
302,350
$
256,721
$
302,350
$
256,721
TABLE I
WORKIVA INC.
RECONCILIATION OF NON-GAAP
INFORMATION
(in thousands, except share
and per share)
Three months ended December
31,
Year ended December
31,
2024
2023
2024
2023
Gross profit, subscription and support
$
148,693
$
123,675
$
548,949
$
459,452
Add back: Stock-based compensation
2,271
1,298
7,979
5,030
Add back: Amortization of
acquisition-related intangibles
916
—
1,923
—
Gross profit, subscription and support,
non-GAAP
$
151,880
$
124,973
$
558,851
$
464,482
Gross profit, professional services
$
5,507
$
5,133
$
17,676
$
16,365
Add back: Stock-based compensation
873
617
3,221
2,540
Gross profit, professional services,
non-GAAP
$
6,380
$
5,750
$
20,897
$
18,905
Gross profit
$
154,200
$
128,808
$
566,625
$
475,817
Add back: Stock-based compensation
3,144
1,915
11,200
7,570
Add back: Amortization of
acquisition-related intangibles
916
—
1,923
—
Gross profit, non-GAAP
$
158,260
$
130,723
$
579,748
$
483,387
Cost of revenue, subscription and
support
$
32,204
$
25,113
$
118,697
$
99,193
Less: Stock-based compensation
2,271
1,298
7,979
5,030
Less: Amortization of acquisition-related
intangibles
916
—
1,923
—
Cost of revenue, subscription and support,
non-GAAP
$
29,017
$
23,815
$
108,795
$
94,163
Cost of revenue, professional services
$
13,485
$
12,732
$
53,358
$
55,029
Less: Stock-based compensation
873
617
3,221
2,540
Cost of revenue, professional services,
non-GAAP
$
12,612
$
12,115
$
50,137
$
52,489
Research and development
$
50,607
$
42,555
$
192,935
$
172,790
Less: Stock-based compensation
5,562
4,764
21,036
18,441
Less: Amortization of acquisition-related
intangibles
495
886
2,762
3,554
Research and development, non-GAAP
$
44,550
$
36,905
$
169,137
$
150,795
Sales and marketing
$
90,157
$
71,867
$
347,243
$
287,035
Less: Stock-based compensation
8,869
7,005
35,339
27,774
Less: Amortization of acquisition-related
intangibles
453
587
1,745
2,392
Sales and marketing, non-GAAP
$
80,835
$
64,275
$
310,159
$
256,869
General and administrative
$
26,756
$
23,859
$
102,981
$
110,519
Less: Stock-based compensation
8,696
7,052
34,575
44,980
General and administrative, non-GAAP
$
18,060
$
16,807
$
68,406
$
65,539
Loss from operations
$
(13,320
)
$
(9,473
)
$
(76,534
)
$
(94,527
)
Add back: Stock-based compensation
26,271
20,736
102,150
98,765
Add back: Amortization of
acquisition-related intangibles
1,864
1,473
6,429
5,946
Income from operations, non-GAAP
$
14,815
$
12,736
$
32,045
$
10,184
GAAP operating margin
(6.6
)%
(5.6
)%
(10.3
)%
(14.9
)%
Non-GAAP operating margin
7.4
%
7.6
%
4.3
%
1.6
%
Net loss
$
(8,815
)
$
(4,196
)
$
(55,042
)
$
(127,525
)
Add back: Stock-based compensation
26,271
20,736
102,150
98,765
Add back: Amortization of
acquisition-related intangibles
1,864
1,473
6,429
5,946
Net income (loss), non-GAAP
$
19,320
$
18,013
$
53,537
$
(22,814
)
Net loss per basic and diluted share:
$
(0.16
)
$
(0.08
)
$
(0.99
)
$
(2.36
)
Add back: Stock-based compensation
0.48
0.38
1.84
1.83
Add back: Amortization of
acquisition-related intangibles
0.03
0.03
0.12
0.11
Net income (loss) per basic share,
non-GAAP
$
0.35
$
0.33
$
0.97
$
(0.42
)
Net income (loss) per diluted share,
non-GAAP
$
0.33
$
0.32
$
0.94
$
(0.42
)
Weighted-average common shares outstanding
- basic, non-GAAP
55,739,950
54,432,003
55,355,381
54,099,757
Effect of potentially dilutive
securities
2,565,293
2,675,903
1,331,818
—
Weighted-average common shares outstanding
- diluted, non-GAAP
58,305,243
57,107,906
56,687,199
54,099,757
Net cash provided by operating
activities
$
43,970
24,342
87,706
70,875
Purchase of property and equipment
(809
)
(392
)
(1,363
)
(2,124
)
Free cash flow
$
43,161
$
23,950
$
86,343
$
68,751
Free cash flow margin
21.6
%
14.4
%
11.7
%
10.9
%
TABLE II
WORKIVA INC.
RECONCILIATION OF NON-GAAP
GUIDANCE
Three months ending March 31,
2025
Year ending December 31,
2025
GAAP operating margin
(14.3
)%
(9.1
)%
(8.6
)%
Add back: Stock-based compensation
13.5
%
13.3
%
13.3
%
Add back: Amortization of
acquisition-related intangibles
0.8
%
0.8
%
0.8
%
Non-GAAP operating margin
—
%
5.0
%
5.5
%
Net loss per basic share, GAAP range
$
(0.45
)
$
(1.07
)
-
$
(1.00
)
Add back: Stock-based compensation
0.49
2.03
2.03
Add back: Amortization of
acquisition-related intangibles
0.03
0.12
0.12
Effect of potentially dilutive
securities
—
(0.06
)
(0.06
)
Net income per diluted share, non-GAAP
range
$
0.07
$
1.02
-
$
1.09
Weighted-average common shares used in
calculating GAAP earnings per share, basic
56,400,000
56,900,000
56,900,000
Weighted-average common shares used in
calculating non-GAAP earnings per share, diluted
57,900,000
60,100,000
60,100,000
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250225059973/en/
Investor Contact: Katie White Workiva Inc.
investor@workiva.com
Media Contact: Mandi McReynolds Workiva Inc.
press@workiva.com
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