- Subscription revenues of $149 million in Q4 2023, representing
18% year-over-year growth
- Total revenues of $167 million in Q4 2023, representing 16%
year-over-year growth
- Subscription revenues of $559 million for full year 2023,
representing 20% year-over-year growth
- Achieved 32% YOY Growth of Customers with Annual Contract Value
Over $300K
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, 2023.
"Workiva closed out the year with another solid quarter," said
Workiva CEO Julie Iskow. "Our solid fourth-quarter and full year
results demonstrate the durability of our business and the ongoing
market adoption for our assured integrated reporting platform.
Leading organizations are investing in our strategic platform that
brings together financial reporting, GRC, and ESG. We shine where
data consistency, integrity and accuracy are critical and narrative
is required."
"For Q4, we exceeded our revenue guidance by $2 million
dollars," said Workiva CFO Jill Klindt. "Our platform approach
continues to drive performance. In the quarter, we generated 64% of
our subscription revenue from customers with multiple solutions. We
finished the year strong with 2023 subscription revenue growth of
20%, and we generated $71 million dollars in operating cash flow,
the strongest cash-flow performance in Workiva's history."
Fourth Quarter 2023 Financial
Results
- Revenue: Total revenue for the fourth quarter of 2023
reached $167 million, an increase of 16% from $144 million in the
fourth quarter of 2022. Subscription and support revenue
contributed $149 million, up 18% versus the fourth quarter of 2022.
Professional services revenue was $18 million, relatively flat
compared to the same quarter in the prior year.
- Gross Profit: GAAP gross profit for the fourth quarter
of 2023 was $129 million compared with $109 million in the same
quarter of 2022. GAAP gross margin was 77.3% versus 76.1% in the
fourth quarter of 2022. Non-GAAP gross profit for the fourth
quarter of 2023 was $131 million, an increase of 18% compared with
the prior year's fourth quarter, and non-GAAP gross margin was
78.4% compared to 77.1% in the fourth quarter of 2022.
- Results from Operations: GAAP loss from operations for
the fourth quarter of 2023 was $9 million compared with a loss of
$13 million in the prior year's fourth quarter. Non-GAAP income
from operations was $13 million compared with non-GAAP income from
operations of $5 million in the fourth quarter of 2022.
- GAAP Net Loss: GAAP net loss for the fourth quarter of
2023 was $4 million compared with a net loss of $14 million for the
prior year's fourth quarter. GAAP net loss per basic and diluted
share was $0.08 compared with a net loss per basic and diluted
share of $0.26 in the fourth quarter of 2022.
- Non-GAAP Net Income: Non-GAAP net income for the fourth
quarter of 2023 was $18 million compared with net income of $4
million in the prior year's fourth quarter. Non-GAAP net income per
basic share was $0.33 and net income per diluted share was $0.30
compared with net income per basic share and diluted share of $0.08
in the fourth quarter of 2022.
- Liquidity: As of December 31, 2023, Workiva had cash,
cash equivalents, and marketable securities totaling $814 million,
compared with $431 million as of December 31, 2022. In August 2023,
we issued $702.0 million aggregate principal amount of 1.250%
convertible senior notes due in 2028. We used $396.9 million of the
net proceeds from the 2028 Notes offering to repurchase $273.8
million principal amount, together with accrued and unpaid interest
thereon, of our 2026 Notes. 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 $15 million of finance lease
obligations outstanding as of December 31, 2023.
Key Metrics and Recent Business
Highlights
- Customers: Workiva had 6,034 customers as of December
31, 2023, a net increase of 370 customers from December 31,
2022.
- Revenue Retention Rate: As of December 31, 2023,
Workiva's revenue retention rate (excluding add-on revenue) was
98%, and the revenue retention rate including add-on revenue was
110%. Add-on revenue includes changes in both solutions and pricing
for existing customers.
- Large Contracts: As of December 31, 2023, Workiva had
1,631 customers with an annual contract value (“ACV”) of more than
$100,000, up 21% from 1,345 customers at December 31, 2022. Workiva
had 915 customers with an ACV of more than $150,000, up 27% from
718 customers in the fourth quarter of 2022. Workiva had 311
customers with an ACV of more than $300,000, up 32% from 236
customers in the fourth quarter of 2022.
Full Year 2023 Financial
Results
- Revenue: Total revenue for the full year 2023 reached
$630 million, an increase of 17% from $538 million in 2022.
Subscription and support revenue contributed $559 million, up 20%
compared to 2022. Professional services revenue was $71 million, a
decrease of 2% compared to the prior year.
- Gross Profit: GAAP gross profit for 2023 was $476
million compared with $408 million in 2022. GAAP gross margin was
75.6% versus 75.9% in the prior year. Non-GAAP gross profit for
2023 was $483 million, an increase of 17% compared to 2022, and
non-GAAP gross margin was 76.7% compared to 76.9%.
- Results from Operations: GAAP loss from operations for
2023 was $95 million compared with a loss of $89 million in the
prior year. Non-GAAP income from operations was $10 million,
compared with a non-GAAP loss from operations of $13 million in
2022.
- GAAP Net Loss: GAAP net loss for 2023 was $128 million
compared with a net loss of $91 million in the prior year. GAAP net
loss per basic and diluted share was $2.36 compared with a net loss
per basic and diluted share of $1.72 in 2022.
- Non-GAAP Net Loss: Non-GAAP net loss for 2023 was $23
million compared with a net loss of $15 million in the prior year.
Non-GAAP net loss per basic and diluted share was $0.42, compared
with a net loss per basic and diluted share of $0.29 in 2022. In
connection with the partial repurchase of our convertible notes due
in 2026 described above, we recorded a loss on induced conversion
of $45.1 million which was recorded as interest expense.
- Cash Flow: Net cash provided by operating activities was
$71 million in 2023, compared to cash provided by operating
activities of $11 million in 2022.
Financial Outlook
As of February 20, 2024, Workiva is providing guidance as
follows:
First Quarter 2024 Guidance:
- Total revenue is expected to be in the range of $173 million to
$175 million.
- GAAP loss from operations is expected to be in the range of
$20.5 million to $18.5 million.
- Non-GAAP income from operations is expected to be in the range
of $4 million to $6 million.
- GAAP net loss per basic share is expected to be in the range of
$0.29 to $0.25.
- Non-GAAP net income per basic share is expected to be in the
range of $0.15 to $0.19.
- Net income (loss) per basic share is based on 55.0 million
weighted-average shares outstanding.
Full Year 2024 Guidance:
- Total revenue is expected to be in the range of $718 million to
$722 million.
- GAAP loss from operations is expected to be in the range of $85
million to $81 million.
- Non-GAAP income from operations is expected to be in the range
of $17 million to $21 million.
- GAAP net loss per basic share is expected to be in the range of
$1.28 to $1.21.
- Non-GAAP net income per basic share is expected to be in the
range of $0.56 to $0.63.
- Net income (loss) per basic share is based on 55.3 million
weighted-average shares outstanding.
Quarterly Conference
Call
Workiva will host a conference call today at 5:00 p.m. ET to
review the Company’s financial results for the fourth quarter and
full year 2023, in addition to discussing the Company’s outlook for
the first quarter and full year 2024. To access this call, dial
888-330-2469 (U.S. domestic) or 240-789-2740 (international). The
conference ID is 8736384. A live webcast of the conference call
will be accessible in the "Investors" section of Workiva’s website
at www.workiva.com. A replay of this conference call can also be
accessed through February 27, 2024, at 800-770-2030 (U.S. domestic)
or 647-362-9199 (international). The replay pass code is 8736384.
An archived webcast of this conference call will also be available
an hour after the completion of the call in the "Investor
Relations" section of the Company’s website at www.workiva.com.
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,
Environmental, Social, and Governance (ESG), and Governance, Risk,
and Compliance (GRC) together 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) and non-GAAP net income (loss) per share 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.
Non-GAAP gross profit is calculated by excluding stock-based
compensation expense attributable to cost of revenues from gross
profit. Non-GAAP gross margin is the ratio calculated by dividing
non-GAAP gross profit by revenues. 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 it is reflective of ongoing operations. 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 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.
Safe Harbor Statement
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" 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,
2023
2022
2023
2022
(unaudited)
Revenue
Subscription and support
$
148,788
$
125,871
$
558,645
$
464,935
Professional services
17,865
17,932
71,394
72,940
Total revenue
166,653
143,803
630,039
537,875
Cost of revenue
Subscription and support (1)
25,113
21,028
99,193
77,711
Professional services (1)
12,732
13,328
55,029
52,174
Total cost of revenue
37,845
34,356
154,222
129,885
Gross profit
128,808
109,447
475,817
407,990
Operating expenses
Research and development (1)
42,555
38,072
172,790
151,716
Sales and marketing (1)
71,867
60,381
287,035
245,260
General and administrative (1)
23,859
24,271
110,519
99,778
Total operating expenses
138,281
122,724
570,344
496,754
Loss from operations
(9,473
)
(13,277
)
(94,527
)
(88,764
)
Interest income
10,336
2,555
25,882
4,880
Interest expense
(3,202
)
(1,502
)
(53,639
)
(6,042
)
Other (expense) and income, net
(364
)
(541
)
(1,814
)
926
Loss before provision for income taxes
(2,703
)
(12,765
)
(124,098
)
(89,000
)
Provision for income taxes
1,493
1,137
3,427
1,947
Net loss
$
(4,196
)
$
(13,902
)
$
(127,525
)
$
(90,947
)
Net loss per common share:
Basic and diluted
$
(0.08
)
$
(0.26
)
$
(2.36
)
$
(1.72
)
Weighted-average common shares outstanding
- basic and diluted
54,432,003
53,279,147
54,099,757
52,954,079
(1) Includes stock-based compensation
expense as follows:
Three months ended
December 31,
Year ended December
31,
2023
2022
2023
2022
(unaudited)
Cost of revenue
Subscription and support
$
1,298
$
880
$
5,030
$
3,437
Professional services
617
550
2,540
2,128
Operating expenses
Research and development
4,764
3,282
18,441
12,554
Sales and marketing
7,005
4,935
27,774
19,323
General and administrative
7,052
6,960
44,980
33,218
WORKIVA INC.
CONSOLIDATED BALANCE
SHEETS
(in thousands)
As of December 31,
2023
2022
Assets
Current assets
Cash and cash equivalents
$
256,100
$
240,197
Marketable securities
557,622
190,595
Accounts receivable, net
125,193
106,316
Deferred costs
39,023
38,350
Other receivables
7,367
6,674
Prepaid expenses and other
23,631
17,957
Total current assets
1,008,936
600,089
Property and equipment, net
24,282
27,096
Operating lease right-of-use assets
12,642
13,932
Deferred costs, non-current
33,346
33,682
Goodwill
112,097
109,740
Intangible assets, net
22,892
28,234
Other assets
4,665
6,847
Total assets
$
1,218,860
$
819,620
Liabilities and Stockholders’ (Deficit)
Equity
Current liabilities
Accounts payable
$
5,204
$
6,174
Accrued expenses and other current
liabilities
97,921
83,999
Deferred revenue
380,843
316,263
Finance lease obligations
532
504
Total current liabilities
484,500
406,940
Convertible senior notes, non-current
762,455
340,257
Deferred revenue, non-current
36,177
38,237
Other long-term liabilities
178
1,518
Operating lease liabilities,
non-current
10,890
12,102
Finance lease obligations, non-current
14,050
14,583
Total liabilities
1,308,250
813,637
Stockholders’ (deficit) equity
Common stock
54
53
Additional paid-in-capital
562,942
537,732
Accumulated deficit
(652,641
)
(525,116
)
Accumulated other comprehensive loss
255
(6,686
)
Total stockholders’ (deficit) equity
(89,390
)
5,983
Total liabilities and stockholders’
(deficit) equity
$
1,218,860
$
819,620
WORKIVA INC.
CONSOLIDATED STATEMENTS OF
CASH FLOWS
(in thousands)
Three months ended
December 31,
Year ended December
31,
2023
2022
2023
2022
(unaudited)
Cash flows from operating
activities
Net loss
$
(4,196
)
$
(13,902
)
$
(127,525
)
$
(90,947
)
Adjustments to reconcile net loss to net
cash provided by (used in) operating activities:
Depreciation and amortization
2,787
2,847
11,140
10,212
Stock-based compensation expense
20,736
16,607
98,765
70,660
Provision for doubtful accounts
353
74
410
156
Realized loss on sale of
available-for-sale securities, net
—
—
708
—
(Accretion) amortization of premiums and
discounts on marketable securities, net
(3,186
)
(163
)
(7,716
)
1,079
Amortization of issuance costs and debt
discount
608
325
1,730
1,298
Induced conversion expense
—
—
45,144
—
Deferred income tax
3
629
(14
)
538
Changes in assets and liabilities:
Accounts receivable
(25,561
)
(22,703
)
(18,318
)
(28,893
)
Deferred costs
(5,971
)
(5,834
)
277
(8,496
)
Operating lease right-of-use asset
1,177
1,276
4,984
5,153
Other receivables
(334
)
(1,693
)
(2,176
)
(1,655
)
Prepaid expenses
(1,038
)
(3,783
)
(5,023
)
(2,913
)
Other assets
751
(1,336
)
2,230
(2,441
)
Accounts payable
265
(3,557
)
(1,002
)
2,438
Deferred revenue
37,887
33,084
60,112
61,657
Operating lease liability
(1,004
)
(1,298
)
(4,133
)
(5,055
)
Accrued expenses and other liabilities
1,065
(1,841
)
11,282
(1,457
)
Net cash provided by (used in) operating
activities
24,342
(1,268
)
70,875
11,334
Cash flows from investing
activities
Purchase of property and equipment
(392
)
(1,232
)
(2,124
)
(3,458
)
Purchase of marketable securities
(251,296
)
(31,190
)
(573,304
)
(130,754
)
Sale of marketable securities
—
—
65,052
14,981
Maturities of marketable securities
76,547
43,708
153,358
150,565
Acquisitions, net of cash acquired
—
—
—
(99,186
)
Purchase of intangible assets
(68
)
(52
)
(235
)
(160
)
Net cash (used in) provided by investing
activities
(175,209
)
11,234
(357,253
)
(68,012
)
Cash flows from financing
activities
Proceeds from option exercises
1,148
678
4,472
3,273
Taxes paid related to net share
settlements of stock-based compensation awards
(35
)
(1,889
)
(9,459
)
(12,541
)
Proceeds from shares issued in connection
with employee stock purchase plan
—
—
12,513
9,256
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
(129
)
(233
)
(505
)
(1,575
)
Net cash provided by (used in) financing
activities
984
(1,444
)
301,265
(1,587
)
Effect of foreign exchange rates on
cash
1,719
2,178
1,637
(1,924
)
Net (decrease) increase in cash and cash
equivalents
(148,164
)
10,700
16,524
(60,189
)
Cash and cash equivalents at beginning of
period
404,885
229,497
240,197
300,386
Cash and cash equivalents at end of
period
$
256,721
$
240,197
$
256,721
$
240,197
Three months ended
December 31,
Year ended December
31,
2023
2022
2023
2022
Reconciliation of cash, cash
equivalents, and restricted cash to the consolidated balance
sheets
Cash and cash equivalents at end of
period
$
256,100
$
240,197
$
256,100
$
240,197
Restricted cash included within prepaid
expenses and other at end of period
621
—
621
—
Total cash, cash equivalents, and
restricted cash at end of period shown in the consolidated
statements of cash flows
$
256,721
$
240,197
$
256,721
$
240,197
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,
2023
2022
2023
2022
Gross profit, subscription and support
$
123,675
$
104,843
$
459,452
$
387,224
Add back: Stock-based compensation
1,298
880
5,030
3,437
Gross profit, subscription and support,
non-GAAP
$
124,973
$
105,723
$
464,482
$
390,661
Gross profit, professional services
$
5,133
$
4,604
$
16,365
$
20,766
Add back: Stock-based compensation
617
550
2,540
2,128
Gross profit, professional services,
non-GAAP
$
5,750
$
5,154
$
18,905
$
22,894
Gross profit
$
128,808
$
109,447
$
475,817
$
407,990
Add back: Stock-based compensation
1,915
1,430
7,570
5,565
Gross profit, non-GAAP
$
130,723
$
110,877
$
483,387
$
413,555
Cost of revenue, subscription and
support
$
25,113
$
21,028
$
99,193
$
77,711
Less: Stock-based compensation
1,298
880
5,030
3,437
Cost of revenue, subscription and support,
non-GAAP
$
23,815
$
20,148
$
94,163
$
74,274
Cost of revenue, professional services
$
12,732
$
13,328
$
55,029
$
52,174
Less: Stock-based compensation
617
550
2,540
2,128
Cost of revenue, professional services,
non-GAAP
$
12,115
$
12,778
$
52,489
$
50,046
Research and development
$
42,555
$
38,072
$
172,790
$
151,716
Less: Stock-based compensation
4,764
3,282
18,441
12,554
Less: Amortization of acquisition-related
intangibles
886
867
3,554
3,107
Research and development, non-GAAP
$
36,905
$
33,923
$
150,795
$
136,055
Sales and marketing
$
71,867
$
60,381
$
287,035
$
245,260
Less: Stock-based compensation
7,005
4,935
27,774
19,323
Less: Amortization of acquisition-related
intangibles
587
581
2,392
1,954
Sales and marketing, non-GAAP
$
64,275
$
54,865
$
256,869
$
223,983
General and administrative
$
23,859
$
24,271
$
110,519
$
99,778
Less: Stock-based compensation
7,052
6,960
44,980
33,218
General and administrative, non-GAAP
$
16,807
$
17,311
$
65,539
$
66,560
Loss from operations
$
(9,473
)
$
(13,277
)
$
(94,527
)
$
(88,764
)
Add back: Stock-based compensation
20,736
16,607
98,765
70,660
Add back: Amortization of
acquisition-related intangibles
1,473
1,448
5,946
5,061
Income (loss) from operations,
non-GAAP
$
12,736
$
4,778
$
10,184
$
(13,043
)
Net loss
$
(4,196
)
$
(13,902
)
$
(127,525
)
$
(90,947
)
Add back: Stock-based compensation
20,736
16,607
98,765
70,660
Add back: Amortization of
acquisition-related intangibles
1,473
1,448
5,946
5,061
Net income (loss), non-GAAP
$
18,013
$
4,153
$
(22,814
)
$
(15,226
)
Net loss per basic and diluted share:
$
(0.08
)
$
(0.26
)
$
(2.36
)
$
(1.72
)
Add back: Stock-based compensation
0.38
0.31
1.83
1.33
Add back: Amortization of
acquisition-related intangibles
0.03
0.03
0.11
0.10
Net income (loss) per basic share,
non-GAAP
$
0.33
$
0.08
$
(0.42
)
$
(0.29
)
Net income (loss) per diluted share,
non-GAAP
$
0.30
$
0.08
$
(0.42
)
$
(0.29
)
Weighted-average common shares outstanding
- basic, non-GAAP
54,432,003
53,279,147
54,099,757
52,954,079
Weighted-average common shares outstanding
- diluted, non-GAAP
60,523,201
54,938,441
54,099,757
52,954,079
TABLE II
WORKIVA INC.
RECONCILIATION OF NON-GAAP
GUIDANCE
(in thousands, except share
and per share data)
Three months ending March 31,
2024
Year ending December 31,
2024
Loss from operations, GAAP range
$
(20,500
)
-
$
(18,500
)
$
(85,000
)
-
$
(81,000
)
Add back: Stock-based compensation
23,200
23,200
97,000
97,000
Add back: Amortization of
acquisition-related intangibles
1,300
1,300
5,000
5,000
Income from operations, non-GAAP range
$
4,000
-
$
6,000
$
17,000
-
$
21,000
Net loss per share, GAAP range
$
(0.29
)
-
$
(0.25
)
$
(1.28
)
-
$
(1.21
)
Add back: Stock-based compensation
0.42
0.42
1.75
1.75
Add back: Amortization of
acquisition-related intangibles
0.02
0.02
0.09
0.09
Net income per share, non-GAAP range
$
0.15
-
$
0.19
$
0.56
-
$
0.63
Weighted-average common shares outstanding
- basic
55,000,000
55,000,000
55,300,000
55,300,000
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240220852191/en/
Investor Contact: Mike Rost Workiva Inc.
investor@workiva.com
Media Contact: Rotha Brauntz Workiva Inc.
press@workiva.com
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