Welcome to our dedicated page for Workiva news (Ticker: WK), a resource for investors and traders seeking the latest updates and insights on Workiva stock.
Workiva Inc. provides an AI-powered platform used by accounting, finance, sustainability, risk and audit teams to connect data, unify reporting processes and produce audit-ready work. Company news commonly centers on quarterly and annual results, subscription and support revenue, professional services revenue, operating margin and revenue outlook tied to adoption of the Workiva platform.
Recurring product and business updates cover financial reporting, governance, risk and compliance, sustainability reporting, internal audit and controls, including AI-enabled workflow and data automation features for the Office of the CFO. Workiva also issues updates on investor conference participation and executive or finance-leadership changes.
Workiva (NYSE:WK) reported strong Q2 2021 results, with total revenue increasing by 25.9% to $105.6 million. Subscription and support revenues surged 29.0% year-over-year. The company raised its full-year revenue guidance to $430 million to $432 million. GAAP net loss narrowed to $9.5 million from $19.6 million in Q2 2020, while non-GAAP net income improved to $3.8 million. The customer base grew to 3,949 with a 96.0% revenue retention rate. Workiva acquired OneCloud to enhance its integration capabilities, further positioning itself for growth.
Workiva has acquired OneCloud, a leading iPaaS provider, to enhance its cloud platform capabilities for financial, regulatory, and operational reporting. This strategic move aims to streamline digital transformations for customers by enabling better data integration from various sources. Workiva and OneCloud have collaborated since 2019, solidifying their partnership. The acquisition was announced ahead of the company's Q2 2021 financial results call on August 3. The terms of the deal remain undisclosed, but it is expected to drive innovation and improve data management across enterprises.
Workiva (NYSE: WK) launched The Workiva Marketplace, offering over 140 templates and 60 no-code connectors designed to enhance workflow efficiency within the Workiva ecosystem. This marketplace targets accounting, audit, and financial services teams, allowing quick integration into existing workspaces. Key comments highlight the potential for organizations to streamline operations through these resources, with significant contributions from partners like FloQast and Clearview Group. The initiative reinforces Workiva's commitment to improving productivity and collaboration across varied business functions.
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Workiva (NYSE: WK) has joined the UN Global Compact CFO Taskforce, marking its position as the first SaaS company in this initiative. This commitment aims to align corporate finance strategies with sustainable development goals (SDGs). CFO Jill Klindt emphasized the importance of transparent reporting of financial and non-financial data. The taskforce targets key areas for SDG-aligned investments, focusing on impact measurement, integrated strategies, and effective communication. This move reflects an increasing commitment to sustainability within the finance sector.
Workiva Inc. (NYSE: WK) announced it will release its second quarter financial results on Tuesday, Aug. 3, 2021, after market close. An investor conference call and webcast will be held at 5:00 p.m. ET. The call can be accessed at 833-968-1977 for U.S. callers and 647-689-6649 for international attendees, using conference ID 1817158. A replay will be available until Aug. 10, 2021. Workiva's platform is designed to simplify complex work for organizations, connecting data, documents, and teams effectively.
Workiva (NYSE:WK) announced its participation in several virtual investor conferences, showcasing its commitment to connecting with investors. Key events include the Stifel 2021 Virtual Cross Sector Insight Conference on June 8, Baird 2021 Global Consumer, Technology & Services Conference on June 9, Jefferies Office of the CEO Summit on June 10, and Berenberg Enterprise Software Conference on June 16. Investors can access live webcasts and replays on the company's investor relations website.
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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.