Workiva Inc Stock Price, News & Analysis

Workiva reported a strong performance for Q4 and full year 2021, with Q4 revenue at $120.8 million, a 28.7% increase from Q4 2020. Subscription and support revenue rose 28.8% to $104.3 million. The company achieved a full year revenue of $443.3 million, up 26.1%. Customer growth was notable, with 4,315 customers and a record revenue retention rate of 97%. However, the company also reported a GAAP net loss of $14.3 million for Q4 2021, compared to a loss of $8 million in Q4 2020. Looking forward, guidance for Q1 2022 anticipates revenue between $127 million and $128 million.

Workiva Inc. (NYSE:WK) has announced a strategic partnership with Persefoni, Inc., aiming to enhance carbon disclosure for their joint customers. This collaboration will provide a unique solution that integrates financial and ESG reporting, complying with emerging climate-related disclosure guidelines. The partnership will allow for efficient data transfer between the platforms, improving accuracy and transparency in carbon emissions reporting. Julie Iskow, Workiva's COO, emphasized the commitment to innovative ESG solutions, while Persefoni's CEO highlighted the reduced complexities for users in meeting regulatory requirements.

Workiva has acquired the Arelle® Extensible Business Reporting Language (XBRL®) validation platform from Mark V Systems Limited. This acquisition positions Workiva as the primary steward of Arelle, which is the leading open-source XBRL validation engine, utilized by over 50 global regulators and banks. The deal secures management of the Arelle domain and trademark, along with a consulting agreement with Mark V Systems CEO Herman Fischer. Workiva aims to enhance transparent reporting and ensure the continued open-source availability of Arelle technology.

Workiva Inc. (NYSE: WK) announced the scheduled release of its fourth quarter and fiscal year 2021 financial results on February 22, 2022, after market closure. An investor conference call is set for 5:00 p.m. ET the same day, accessible via dial-in or live webcast. The call's replay will be available until March 1, 2022. Workiva provides a platform that enhances efficiency, transparency, and reduces risk for organizations worldwide.

Workiva announced the acquisition of AuditNet, a provider of global audit content and services, aimed at enhancing transparency and efficiency in internal auditing. AuditNet's platform, which supports over 160,000 audit practitioners, will integrate its resources into Workiva's offerings, furthering its commitment to digital transformation in audit processes. The acquisition aligns with Workiva's recent recognition as a leader in Governance, Risk, and Compliance (GRC) platforms. Terms of the agreement remain undisclosed.

Workiva (NYSE:WK) announced its participation in two upcoming virtual investor conferences. The management team will present at the Wells Fargo Virtual TMT Summit on November 30 at 12:00 p.m. ET and at the Raymond James Technology Investors Conference on December 8 at 10:30 a.m. ET. A live webcast and replays will be available on the company's investor relations website.

Workiva simplifies complex work for organizations with its innovative platform, enhancing efficiency and transparency.

Workiva reported Q3 2021 revenue of $112.7 million, a 27.9% increase from Q3 2020, driven by a 30.4% rise in subscription and support revenue. Customer growth continued, with a 41.3% increase in clients with annual contracts over $150K.

The company raised its full-year guidance, projecting total revenue between $439 million and $440 million. Non-GAAP net income reached $8.7 million, up from $2.5 million a year earlier. However, GAAP loss from operations stood at $8 million, worsening from a $6.9 million loss in the prior year.