Workiva Inc Stock Price, News & Analysis

Workiva (NYSE: WK) has announced its support for the reintroduction of the Financial Transparency Act (H.R. 2989) in the U.S. Congress. This legislation aims to enhance regulatory reporting efficiency by establishing consistent data fields among eight major U.S. financial regulatory agencies. The Act promotes machine-readable data standards and mandates that agencies make their reporting information searchable and available for free. CEO Marty Vanderploeg emphasized the potential for increased innovation and efficiency through transparent data reporting.

Workiva Inc. (WK) announced strong first-quarter results for 2021, with revenue reaching $104.2 million, a 21.5% increase from the previous year. Subscription and support revenue grew by 24.2%.

GAAP gross profit was $80.5 million with a margin of 77.3%. Non-GAAP net income stood at $6.6 million, compared to $1.7 million in Q1 2020. The company raised its full-year guidance, anticipating revenue of $418.0 - $420.0 million. As of March 31, 2021, Workiva had 3,800 customers and cash reserves of $540.6 million.

Workiva (NYSE:WK) has introduced Audit Analytics, enhancing its Internal Audit Management solution. This new capability is designed to strengthen risk assurance and significantly increase efficiency for audit, compliance, and risk leaders. The integration of Audit Analytics aims to assist organizations in initiating or optimizing their data analytics strategies, thereby streamlining the audit process.

Workiva Inc. (NYSE: WK) has announced the release date for its first quarter financial results, scheduled for May 4, 2021, after market close. An investor conference call will follow at 5:00 p.m. ET, accessible via phone or webcast. The replay will be available until May 11, 2021. Workiva aims to simplify complex work for organizations globally, enhancing efficiency and transparency through its platform.

Frost & Sullivan's recent paper highlights the growing adoption of cloud-based reporting solutions among global companies, emphasizing their benefits for investors and stakeholders. Key findings from their Global Cloud Survey reveal that 44% of companies currently utilize these solutions, with 38% planning future investments. The paper underscores the significance of ESG reporting and increased process efficiency, shorter reporting cycles, and reduced costs associated with cloud technology. Workiva, collaborating on the paper, advocates for unified financial and non-financial reporting.

Workiva Inc. (NYSE:WK) announced its participation in several upcoming virtual investor conferences. Notable events include the Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021, at 11:00 a.m. ET, the Berenberg American Innovation Seminar on March 4, 2021, at 10:00 a.m. ET, and the Truist Securities Technology, Internet and Services Conference on March 9, 2021, at 10:30 a.m. ET. These events will be webcast live, with recordings available on Workiva’s investor relations website.