Workiva Inc Financials
Workiva Inc (WK) reported $884.6M in revenue for fiscal year 2025, up 19.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
High-gross-margin software economics are increasingly converting growth into cash, even before GAAP earnings fully turn positive.
By FY2025, operating cash flow had climbed to$140.1M while net loss narrowed to-$26.2M , meaning the business now throws off far more cash than its income statement alone suggests. That gap, alongside steadily better margins since FY2023, points to a model moving out of heavy build mode and toward one where added revenue carries much less incremental delivery cost.
Gross margin reached
Free cash flow hit
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Workiva Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Workiva Inc has an operating margin of -4.8%, meaning the company loses $5 on every $100 of revenue. This results in a profitability score of 35/100. This is up from -10.4% the prior year.
Workiva Inc's revenue surged 19.7% year-over-year to $884.6M, reflecting rapid business expansion. This strong growth earns a score of 80/100.
Workiva Inc's current ratio of 1.57 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.
Workiva Inc converts 15.6% of revenue into free cash flow ($138.0M). This strong cash generation earns a score of 76/100.
Workiva Inc scores 1.68, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.8B) relative to total liabilities ($1.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Workiva Inc passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Workiva Inc reported a net loss of $26.2M while generating $140.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Workiva Inc reported an operating loss of $42.4M against $12.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Workiva Inc generated $884.6M in revenue in fiscal year 2025. This represents an increase of 19.7% from the prior year.
Workiva Inc's EBITDA was -$31.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 52.0% from the prior year.
Workiva Inc reported -$26.2M in net income in fiscal year 2025. This represents an increase of 52.5% from the prior year.
Workiva Inc earned -$0.47 per diluted share (EPS) in fiscal year 2025. This represents an increase of 52.5% from the prior year.
Cash & Balance Sheet
Workiva Inc generated $138.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 59.8% from the prior year.
Workiva Inc held $338.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Workiva Inc's gross margin was 78.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the prior year.
Workiva Inc's operating margin was -4.8% in fiscal year 2025, reflecting core business profitability. This is up 5.6 percentage points from the prior year.
Workiva Inc's net profit margin was -3.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.5 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Workiva Inc invested $214.8M in research and development in fiscal year 2025. This represents an increase of 11.4% from the prior year.
Workiva Inc spent $71.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Workiva Inc invested $2.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 52.2% from the prior year.
WK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $965.7M | $884.6M+19.7% | $738.7M+17.2% | $630.0M+17.1% | $537.9M+21.3% | $443.3M+26.1% | $351.6M+18.0% | $297.9M+21.9% | $244.3M+17.5% | $207.9M+16.4% | $178.6M+23.0% | $145.3M+28.9% | $112.7M+32.3% | $85.2M+60.9% | $52.9M |
| Cost of Revenue | $191.1M | $190.4M+10.7% | $172.1M+11.6% | $154.2M+18.7% | $129.9M+25.1% | $103.8M+15.1% | $90.2M+6.1% | $85.0M+29.1% | $65.9M+9.3% | $60.2M+16.7% | $51.6M | N/A | N/A | N/A | N/A |
| Gross Profit | $774.6M | $694.1M+22.5% | $566.6M+19.1% | $475.8M+16.6% | $408.0M+20.2% | $339.5M+29.9% | $261.4M+22.8% | $212.9M+19.3% | $178.5M+20.9% | $147.6M+16.2% | $127.0M+20.9% | $105.1M+33.3% | $78.8M+30.3% | $60.5M+78.5% | $33.9M |
| R&D Expenses | $216.6M | $214.8M+11.4% | $192.9M+11.7% | $172.8M+13.9% | $151.7M+31.1% | $115.7M+22.0% | $94.8M+5.5% | $89.9M+10.2% | $81.6M+19.7% | $68.2M+18.7% | $57.4M+13.8% | $50.5M+14.3% | $44.1M+29.4% | $34.1M+85.6% | $18.4M |
| SG&A Expenses | $109.8M | $112.9M+9.6% | $103.0M-6.8% | $110.5M+10.8% | $99.8M+34.3% | $74.3M+24.5% | $59.7M+24.2% | $48.1M-14.7% | $56.3M+42.3% | $39.6M+21.1% | $32.7M+13.9% | $28.7M+45.2% | $19.8M+35.5% | $14.6M-9.7% | $16.2M |
| Operating Income | $31.4M | -$42.4M+44.5% | -$76.5M+19.0% | -$94.5M-6.5% | -$88.8M-202.4% | -$29.4M+22.3% | -$37.8M+16.7% | -$45.4M+8.8% | -$49.8M-12.4% | -$44.3M-1.7% | -$43.6M+0.2% | -$43.7M-13.1% | -$38.6M-31.9% | -$29.3M-3.8% | -$28.2M |
| Interest Expense | $12.0M | $12.0M+0.1% | $12.0M-77.6% | $53.6M+787.8% | $6.0M-56.9% | $14.0M+0.4% | $14.0M+131.7% | $6.0M+229.9% | $1.8M-1.0% | $1.8M-1.6% | $1.9M-7.4% | $2.0M-0.9% | $2.0M+458.5% | $366K-75.9% | $1.5M |
| Income Tax | $5.1M | $3.8M-33.0% | $5.6M+63.4% | $3.4M+76.0% | $1.9M+242.1% | -$1.4M-370.8% | -$291K-309.4% | $139K-43.7% | $247K+304.9% | $61K+154.2% | $24K+442.9% | -$7K-121.9% | $32K | $0 | $0 |
| Net Income | $47.0M | -$26.2M+52.5% | -$55.0M+56.8% | -$127.5M-40.2% | -$90.9M-141.0% | -$37.7M+22.0% | -$48.4M-1.9% | -$47.5M+5.2% | -$50.1M-12.7% | -$44.4M-1.0% | -$44.0M-1.3% | -$43.4M-5.5% | -$41.2M-39.3% | -$29.5M+3.4% | -$30.6M |
| EPS (Diluted) | — | -$0.47+52.5% | -$0.99+58.1% | -$2.36-37.2% | -$1.72-132.4% | -$0.74+26.0% | -$1.00+2.9% | -$1.03 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+9.1% | $1.4B+12.3% | $1.2B+48.7% | $819.6M+4.2% | $786.8M+11.3% | $707.0M+10.7% | $639.0M+176.5% | $231.1M+46.5% | $157.7M+10.2% | $143.1M-0.5% | $143.9M-12.6% | $164.6M+122.5% | $73.9M | N/A |
| Current Assets | $1.2B+10.9% | $1.0B+3.9% | $1.0B+68.1% | $600.1M-8.7% | $657.1M+3.8% | $633.1M+10.8% | $571.2M+222.3% | $177.2M+53.7% | $115.3M+17.6% | $98.0M+0.2% | $97.9M-16.0% | $116.5M+224.8% | $35.9M | N/A |
| Cash & Equivalents | $338.8M+12.2% | $301.8M+17.9% | $256.1M+6.6% | $240.2M-20.0% | $300.4M-7.0% | $322.8M-15.4% | $381.7M+392.0% | $77.6M+28.6% | $60.3M+17.7% | $51.3M-12.7% | $58.8M-41.9% | $101.1M+551.8% | $15.5M-37.9% | $25.0M |
| Accounts Receivable | $169.0M+13.8% | $148.4M+18.6% | $125.2M+17.8% | $106.3M+38.3% | $76.8M+11.5% | $68.9M+14.4% | $60.2M-7.5% | $65.1M+126.1% | $28.8M+27.8% | $22.5M+44.0% | $15.6M+40.7% | $11.1M-19.9% | $13.9M | N/A |
| Goodwill | $206.2M+4.7% | $196.8M+75.6% | $112.1M+2.1% | $109.7M+217.6% | $34.6M | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.5B+6.3% | $1.4B+7.8% | $1.3B+60.8% | $813.6M+14.0% | $713.8M+11.1% | $642.7M+9.9% | $584.7M+142.8% | $240.9M+37.9% | $174.6M+19.4% | $146.3M+23.8% | $118.2M+8.7% | $108.7M+34.7% | $80.7M | N/A |
| Current Liabilities | $741.7M+25.2% | $592.4M+22.3% | $484.5M+19.1% | $406.9M-37.1% | $646.5M+129.4% | $281.8M+21.4% | $232.1M+21.2% | $191.6M+48.1% | $129.3M+29.5% | $99.9M+18.8% | $84.1M+26.0% | $66.7M+53.7% | $43.4M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $53K-27.4% | $73K-19.8% | $91K-96.0% | $2.3M | N/A |
| Total Equity | -$5.4M+87.0% | -$41.7M+53.4% | -$89.4M-1594.1% | $6.0M-91.8% | $73.0M+13.5% | $64.3M+18.6% | $54.2M+656.5% | -$9.7M+42.5% | -$16.9M-441.9% | -$3.1M-112.2% | $25.7M-53.9% | $55.8M+922.4% | -$6.8M | N/A |
| Retained Earnings | -$733.9M-3.7% | -$707.7M-8.4% | -$652.6M-24.3% | -$525.1M-16.1% | -$452.4M-9.1% | -$414.7M-13.2% | -$366.3M-19.3% | -$307.0M-15.7% | -$265.3M-20.1% | -$220.9M-24.9% | -$176.9M-32.5% | -$133.5M | N/A | N/A |
Not reported in any period shown, so not listed: Inventory.
WK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $201.9M | $140.1M+59.7% | $87.7M+23.7% | $70.9M+525.3% | $11.3M-77.3% | $49.8M+49.9% | $33.2M+7.5% | $30.9M+383.1% | $6.4M+15.9% | $5.5M+153.2% | -$10.4M+52.0% | -$21.6M-516.0% | -$3.5M+66.5% | -$10.5M-81.4% | -$5.8M |
| Capital Expenditures | $1.4M | $2.1M+52.2% | $1.4M-35.8% | $2.1M-38.6% | $3.5M-2.2% | $3.5M+88.7% | $1.9M-39.7% | $3.1M+176.6% | $1.1M-5.6% | $1.2M-37.5% | $1.9M+3.1% | $1.8M-78.5% | $8.6M-9.9% | $9.5M+67.2% | $5.7M |
| Free Cash Flow | $200.5M | $138.0M+59.8% | $86.3M+25.6% | $68.8M+772.9% | $7.9M-83.0% | $46.3M+47.6% | $31.4M+12.8% | $27.8M+427.0% | $5.3M+21.8% | $4.3M+135.3% | -$12.3M+47.6% | -$23.4M-94.1% | -$12.1M+39.5% | -$20.0M-74.3% | -$11.4M |
| Investing Cash Flow | -$34.5M | -$35.0M+22.8% | -$45.2M+87.3% | -$357.3M-425.3% | -$68.0M+0.9% | -$68.6M+33.8% | -$103.8M-15.2% | -$90.1M-1499.2% | -$5.6M+13.0% | -$6.5M-270.1% | $3.8M+119.2% | -$19.8M-382.8% | -$4.1M+56.6% | -$9.4M+13.7% | -$10.9M |
| Financing Cash Flow | -$195.6M | -$74.9M-1211.8% | $6.7M-97.8% | $301.3M+19083.3% | -$1.6M+53.2% | -$3.4M-130.5% | $11.1M-96.9% | $363.0M+2051.1% | $16.9M+71.8% | $9.8M+1197.4% | -$895K+18.8% | -$1.1M-101.2% | $93.2M+798.3% | $10.4M-67.2% | $31.6M |
| Share Buybacks | $194.2M | $71.6M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.5%+1.8pp | 76.7%+1.2pp | 75.5%-0.3pp | 75.8%-0.7pp | 76.6%+2.2pp | 74.4%+2.9pp | 71.5%-1.6pp | 73.0%+2.0pp | 71.0%-0.1pp | 71.1%-1.2pp | 72.3%+2.4pp | 69.9%-1.1pp | 71.0%+7.0pp | 64.0% |
| Operating Margin | -4.8%+5.6pp | -10.4%+4.6pp | -15.0%+1.5pp | -16.5%-9.9pp | -6.6%+4.1pp | -10.8%+4.5pp | -15.2%+5.1pp | -20.4%+0.9pp | -21.3%+3.1pp | -24.4%+5.7pp | -30.1%+4.2pp | -34.3%+0.1pp | -34.4%+18.9pp | -53.3% |
| Net Margin | -3.0%+4.5pp | -7.4%+12.8pp | -20.2%-3.3pp | -16.9%-8.4pp | -8.5%+5.3pp | -13.8%+2.2pp | -15.9%+4.6pp | -20.5%+0.9pp | -21.4%+3.3pp | -24.6%+5.3pp | -29.9%+6.7pp | -36.5%-1.8pp | -34.7%+23.1pp | -57.8% |
| Return on Equity | N/A | N/A | N/A | -1520.1%-1468.4pp | -51.7%+23.6pp | -75.3%+12.3pp | -87.6% | N/A | N/A | N/A | -168.7%-95.0pp | -73.7% | N/A | N/A |
| Return on Assets | -1.8%+2.3pp | -4.0%+6.4pp | -10.5%+0.6pp | -11.1%-6.3pp | -4.8%+2.1pp | -6.9%+0.6pp | -7.4%+14.2pp | -21.7%+6.5pp | -28.2%+2.5pp | -30.7%-0.6pp | -30.2%-5.1pp | -25.0%+14.9pp | -40.0% | N/A |
| Current Ratio | 1.57-0.2x | 1.77-0.3x | 2.08+0.6x | 1.47+0.5x | 1.02-1.2x | 2.25-0.2x | 2.46+1.5x | 0.930.0x | 0.89-0.1x | 0.98-0.2x | 1.16-0.6x | 1.75+0.9x | 0.83 | N/A |
| Debt-to-Equity | N/A | N/A | N/A | 135.99+126.2x | 9.78-0.2x | 10.00-0.8x | 10.79 | N/A | N/A | N/A | 0.000.0x | 0.00 | N/A | N/A |
| FCF Margin | 15.6%+3.9pp | 11.7%+0.8pp | 10.9%+9.4pp | 1.5%-9.0pp | 10.4%+1.5pp | 8.9%-0.4pp | 9.3%+7.2pp | 2.2%+0.1pp | 2.1%+8.9pp | -6.9%+9.3pp | -16.1%-5.4pp | -10.7%+12.7pp | -23.4%-1.8pp | -21.6% |
Note: Shareholder equity is negative (-$5.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Where Workiva Inc Ranks
Frequently Asked Questions
What is Workiva Inc's annual revenue?
Workiva Inc (WK) reported $884.6M in total revenue for fiscal year 2025. This represents a 19.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Workiva Inc's revenue growing?
Workiva Inc (WK) revenue grew by 19.7% year-over-year, from $738.7M to $884.6M in fiscal year 2025.
Is Workiva Inc profitable?
No, Workiva Inc (WK) reported a net income of -$26.2M in fiscal year 2025, with a net profit margin of -3.0%.
What is Workiva Inc's EBITDA?
Workiva Inc (WK) had EBITDA of -$31.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Workiva Inc's gross margin?
Workiva Inc (WK) had a gross margin of 78.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Workiva Inc's operating margin?
Workiva Inc (WK) had an operating margin of -4.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Workiva Inc's net profit margin?
Workiva Inc (WK) had a net profit margin of -3.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Workiva Inc's free cash flow?
Workiva Inc (WK) generated $138.0M in free cash flow during fiscal year 2025. This represents a 59.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Workiva Inc's operating cash flow?
Workiva Inc (WK) generated $140.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Workiva Inc's total assets?
Workiva Inc (WK) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Workiva Inc's capital expenditures?
Workiva Inc (WK) invested $2.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Workiva Inc spend on research and development?
Workiva Inc (WK) invested $214.8M in research and development during fiscal year 2025.
What is Workiva Inc's current ratio?
Workiva Inc (WK) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.
What is Workiva Inc's return on assets (ROA)?
Workiva Inc (WK) had a return on assets of -1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Workiva Inc's debt-to-equity ratio negative or not reported?
Workiva Inc (WK) has negative shareholder equity of -$5.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Workiva Inc's Altman Z-Score?
Workiva Inc (WK) has an Altman Z-Score of 1.68, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Workiva Inc's Piotroski F-Score?
Workiva Inc (WK) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Workiva Inc's earnings high quality?
Workiva Inc (WK) reported a net loss of $26.2M while generating $140.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Workiva Inc cover its interest payments?
Workiva Inc (WK) reported an operating loss of $42.4M against $12.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Workiva Inc?
Workiva Inc (WK) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.