Workiva Inc. (WK)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$965.7M

Revenue growth

19.7%

Net income, last twelve months

$47.0M

Earnings per share

$0.82

Gross margin

80.2%

Operating margin

3.3%

Net margin

4.9%

Free cash flow

$200.5M

Market value

$4.7B

Price to earnings

102.3x

Cash

$252.5M

Debt

$768.6M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 4 August 2026.

• Total revenue grew 19%. Total revenue was $255.3 million, up from $215.2 million a year earlier, the company reported.
• Net income turned positive. GAAP net income was $13.4 million, or $0.24 per diluted share, against a net loss of $19.4 million a year earlier. Six-month GAAP net income was $32.4 million.
• Professional services grew 12%. Professional services revenue was $19.0 million, up 12%, slower than the 19% growth in subscription and support revenue.
• Non-GAAP margin rose to 16.8%. Non-GAAP operating margin was 16.8%, up from 3.8% a year earlier. GAAP operating margin was 4.6%, compared with (10.2)% in the prior year.
• Operating expenses rose modestly. Total operating expenses were $193.6 million, up from $187.8 million. Income from operations was $11.7 million, compared with a loss of $22.1 million.
• Non-GAAP excludes stock compensation. Non-GAAP results exclude stock-based compensation of $29.8 million and amortization of acquisition-related intangibles of $1.6 million in the quarter.
• Large contracts grew faster than customers. Customers with ACV above $100,000 rose 20%, those above $300,000 rose 34%, and those above $500,000 rose 33% from a year earlier.
• Retention held near prior levels. Gross retention was 97% and net retention was 111%, down from 112% at March 31, 2026. Net retention includes solution and pricing changes.
• Subscription revenue carried growth. Subscription and support revenue was $236.3 million, up 19%, and made up most of total revenue.
• Free cash flow reached $78 million. Free cash flow was $78.0 million, a 30.5% margin, against $49.3 million a year earlier. Operating cash flow was $78.3 million.
• Cash and securities lower than year-end. Cash, cash equivalents and marketable securities were $815 million at June 30, 2026, against $892 million at December 31, 2025.
• Convertible notes remain outstanding. Convertible senior notes outstanding were $71 million due in 2026 and $702 million due in 2028, with $14 million of finance lease obligations.
• Buybacks of $123 million in quarter. About 2.5 million Class A shares were repurchased for $123 million under the plan, against $10.0 million of cash repurchases a year earlier.
• About $106 million left on plan. Approximately $106 million remained under the plan at June 30, 2026, against $228 million at March 31, 2026.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 93 held.

Every filing

The newest filings with the SEC of 213 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

377 funds held it at 30 Jun 2026: 170 added and 86 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Microsoft Corp. (MSFT): revenue $346.4B, market value $3.95T
• Palantir Technologies Inc. (PLTR): revenue $6.2B, market value $473.1B
• Oracle Corp. (ORCL): revenue $71.8B, market value $436.3B
• SAP SE (SAP): revenue $41.6B, market value $276.7B
• CrowdStrike Holdings, Inc. (CRWD): revenue $5.4B, market value $273.1B
• Shopify Inc. (SHOP): revenue $13.3B, market value $218.4B
• Salesforce, Inc. (CRM): revenue $43.9B, market value $199.5B
• ServiceNow, Inc. (NOW): revenue $15.4B, market value $155.6B
• Snowflake Inc. (SNOW): revenue $5.4B, market value $119.8B
• Cloudflare, Inc. (NET): revenue $2.5B, market value $113.0B

What the company does

Workiva provides a cloud software platform that accounting, finance, sustainability, risk and audit teams use to connect data and produce reports, filings and disclosures. The company delivers it as software as a service and says it serves more than 6,600 organizations, including over 85% of FORTUNE 1,000 companies. At 31 December 2025 it had 6,624 customers and approximately 2,860 full-time employees. About 92% of its revenue comes from subscription and support fees. Workiva Inc. is a Delaware corporation with its principal executive offices in Ames, Iowa.

What it sells

The platform connects data from hundreds of enterprise resource planning, human capital management and customer relationship management systems, as well as other cloud and on-premise applications. Customers use it to create, review and publish documents, presentations and reports that are linked to the underlying data. When a number changes, the change updates in every linked spreadsheet, text document, chart and presentation. An audit trail records every change by every user, and administrators set access permissions, including for external auditors and outside counsel. The platform also includes generative AI capabilities for drafting and editing content. The Workiva Marketplace offers more than 200 templates and no-code data connectors.

The solution groups

Workiva sells over 30 solutions in four groups: financial reporting, sustainability management, governance, risk and compliance (GRC), and industry verticals. Sales and marketing resources are organised around the first three groups, which focus on the offices of the Chief Financial Officer, Chief Sustainability Officer and Chief Audit Executive. Customers use the platform for more than 100 different use cases.

- Financial reporting: multi-entity statutory reporting, SEC and SEDAR reporting, capital markets, annual and interim reporting, European Single Electronic Format reporting and management reporting. - Sustainability management: disclosure support for the Corporate Sustainability Reporting Directive and California's SB-253 and SB-261, plus Workiva Carbon for emissions accounting. - GRC: controls management, internal audit management, enterprise risk management, and policy and procedure management. - Industry verticals: financial services, public sector, and energy and utility.

How it makes money

Customers sign annual or multi-year subscription contracts, typically 12 to 36 months long, and are typically invoiced annually in advance. The subscription fee covers the software and technical support. Pricing follows a solution-based licensing model, in which operating metrics tied to a customer's expected use of each solution set the price, and each solution includes unlimited seats. Subscription revenue is recognised ratably over the contract term. The remaining 8.1% of revenue comes from professional services, mainly document setup, XBRL tagging and consulting. Customers do not need these services to use the platform, and the company says it continues to move consulting and other services to its partners.

Who buys from it

Customers include over 95% of FORTUNE 100 companies and over 85% of FORTUNE 500 companies. Companies with publicly listed securities make up a substantial majority of customers. Gross retention was 97.2% and net retention was 112.8% as of 31 December 2025. About 26.7% of consolidated revenue came from outside the United States. The filing says sales of sustainability management solutions have been affected by policy uncertainty, including changes to the European Union's Corporate Sustainability Reporting Directive.

How it sells and competes

Sales run mainly through a direct organisation that combines field sales, inside sales and partnership channels. Sales development representatives qualify opportunities, pre-sales engineers run demonstrations, and account managers win new customers and extend use across existing ones. Customer success teams provide 24/7 live support. Over 250 advisory, technology and service partners extend reach and help with implementation.

- manual processes built on legacy productivity tools; - - niche point-solution providers; - consultants and financial printers; - sustainability, GRC, and business intelligence or performance management software providers.

It names product features, breadth, integration ability, price, certifications and brand as the main factors in its markets.

Technology, patents and people

The platform is multi-tenant cloud software built primarily on Amazon Web Services. New customers can deploy it within days or weeks, and new versions are released each week. The company adheres to FedRAMP and ISO 27001 standards and uses third-party auditors to evaluate its controls against SOC frameworks. It held 90 issued patents and 14 pending applications and has registered the trademarks "Workiva," "Wdesk" and "Wdata." None of its U.S. employees are represented by a labor organization. The company has been on the Fortune 100 Best Companies to Work For list since 2019.

*From Workiva's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1445305/000144530526000016/wk-20251231.htm)*

From the company's 10-K.