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.
Overview
Workiva Inc (NYSE: WK) is a prominent cloud-native platform that transforms the complexities of enterprise reporting and compliance. Integrating cloud reporting, data management, and control solutions, Workiva empowers organizations to collect, link, analyze, and report business data with unparalleled accuracy and accountability. The platform addresses the modern challenges of risk management, regulatory compliance, and data transparency in an environment where synchronized data and real-time insights are essential.
Core Business and Product Offering
The company developed a comprehensive suite of cloud-based productivity tools that include proprietary word processing, spreadsheet, and presentation applications. These applications are seamlessly integrated on a robust data management engine that offers synchronized data, controlled collaboration, granular permissions, and a full audit trail. This enables users to create, review, and publish linked data documents and reports efficiently. The integrated platform is widely utilized by organizations for SEC filings, risk assessments, compliance checking, and management reporting, establishing Workiva as a critical tool in corporate governance and operational oversight.
Operational Capabilities and Industry Application
Workiva excels in simplifying the data aggregation process from diverse systems such as ERP, HCM, and CRM, alongside several third-party cloud and on-premise applications. This interoperability creates a fluid environment for managing enterprise data and ensures that critical decisions are made based on consistent, real-time information. By centralizing and connecting data sources, the platform mitigates enterprise risk and enhances productivity. Key functionalities include:
- Data Integration: Linking disparate data sources for a comprehensive view of enterprise information.
- Controlled Collaboration: Enabling teams across different departments and geographies to work together with strict access controls and audit trails.
- Regulatory Compliance: Assisting organizations in meeting evolving regulatory requirements through accurate and timely reporting.
Market Position and Competitive Landscape
Workiva occupies a unique niche in the market by offering an integrated cloud solution that addresses both financial and compliance reporting needs. Its client base spans thousands of organizations around the globe, including a significant portion of Fortune 500 companies. This penetration in large enterprises underscores its ability to deliver consistent, scalable solutions while navigating complex compliance landscapes. Although the competitive field includes companies offering point solutions, Workiva differentiates itself through its unified approach that caters to both financial reporting and risk management seamlessly.
Expertise and Technological Advantage
The security, accuracy, and efficiency of Workiva's platform stem from deep industry expertise and advanced technological integration. The platform is engineered to handle high volumes of data with robust performance and reliability. Users benefit from a system that not only consolidates data but also enhances decision-making processes by providing an accurate and synchronized data environment. This design philosophy and execution have cemented Workiva's reputation as a trusted partner for organizations aiming to improve operational transparency and compliance efficiency.
Customer Impact and Use Cases
Organizations using Workiva experience improved productivity and reduced risk through its streamlined reporting and compliance workflows. The ability to automatically link and verify data empowers financial teams to produce error-free reports and regulatory filings. Additionally, the platform’s audit trail and permission-based collaboration features instill greater confidence among stakeholders by ensuring that every data modification is recorded and tracked, thereby maintaining high standards of corporate governance.
Conclusion
In summary, Workiva Inc is a multifaceted, cloud-native solution that redefines enterprise reporting and compliance. Its integrated platform not only connects data sources and automates reporting processes but also strengthens corporate accountability and risk management protocols. With a deep understanding of market demands and technological innovations, Workiva continues to serve as an indispensable tool for modern enterprises seeking precision, control, and efficiency in their data management and reporting practices.
Workiva (NYSE:WK) has announced that its management team will present at the Stifel 2022 Cross Sector Insight Conference on June 7, 2022, at 11:30 a.m. ET. A live webcast will be available on Workiva's investor relations website, providing access to subsequent replays. Workiva is dedicated to enhancing transparency in reporting through innovative solutions for regulatory, financial, and ESG reporting. Their cloud-based platform addresses complex reporting challenges and promotes data connectivity and consistency.
Workiva (NYSE:WK) has expressed support for the Financial Data Transparency Act introduced by Senators Mark Warner and Mike Crapo. This act aims to enhance consistency and transparency in financial regulatory filings by directing major U.S. financial agencies to adopt uniform, machine-readable data standards. Workiva's CEO, Marty Vanderploeg, praised the act as a potential game-changer for capital market efficiency. The proposed modernization is expected to mirror the efficiencies realized from previous government data standardization efforts.
Workiva reported Q1 2022 total revenue of $129.7 million, a 24.4% increase year-over-year, with subscription and support revenue rising 26.1% to $107.1 million. The company added 93 new customers and achieved a revenue retention rate of 97.7%. However, the GAAP net loss surged to $18.5 million from $7.3 million in Q1 2021. The financial outlook includes a projected total revenue range of $534.0 million to $536.0 million for FY 2022.
Workiva Inc. (NYSE:WK) has announced it will release its first quarter financial results on May 3, 2022, after market close, followed by an investor conference call at 5:00 p.m. ET. Investors can join the call by dialing 888-330-2469 (U.S.) or 240-789-2740 (international), with a conference ID of 8736384. A replay will be available until May 10, 2022. Workiva's platform focuses on simplifying regulatory, financial, and ESG reporting, enhancing data transparency and consistency.
Cvent (NASDAQ: CVT) has announced the appointment of Julie Iskow, President and COO of Workiva (NYSE: WK), to its board of directors, effective May 18, 2022. Iskow brings over two decades of experience in the SaaS sector, having led product development and global growth strategies. Her expertise is expected to enhance Cvent's operations and accelerate its growth, particularly in the evolving events landscape. Iskow will replace outgoing board member Sanju Bansal, whose term ends on the same date.
Workiva has enhanced its XBRL financial disclosure solutions by acquiring ParsePort for $100 million in cash. This strategic acquisition positions Workiva to strengthen its market share in Europe for ESEF and statutory reporting. With over a decade of experience, ParsePort is a leading provider of XBRL conversion software, trusted by more than 800 organizations. The deal will allow Workiva to extend its cloud platform offerings, facilitating complex reporting needs amid growing regulatory demands.
Workiva Inc. (NYSE:WK) will participate in the Morgan Stanley Technology, Media and Telecom Conference on March 7, 2022, at 2:30 p.m. ET. The event will be webcast live, with a recording available afterward on Workiva's investor relations page. Workiva's platform simplifies complex work for organizations globally, promoting efficiency, transparency, and risk reduction. For more insights, visit their website.
Workiva Inc. (NYSE: WK) announced the promotion of Julie Iskow to president and chief operating officer, effective March 1, 2022. Iskow will oversee global growth strategy, product development, and customer success. Her leadership has been vital in establishing the company’s commercial strategy and enhancing operations. Iskow joined Workiva in 2019, bringing extensive experience in scaling SaaS companies. She is also on the board of directors for Workiva and Vocera Communications.
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