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Workiva Inc. (NYSE: WK) is a leading provider of cloud-based software solutions that simplify the complexities of reporting and compliance for enterprises. Headquartered in Ames, Iowa, Workiva’s flagship product, Wdesk, is a productivity platform that enables organizations to collect, link, report, and analyze business data with unparalleled control and accountability. The platform integrates proprietary word processing, spreadsheet, and presentation applications built upon a robust data management engine, ensuring synchronized data, controlled collaboration, granular permissions, and a comprehensive audit trail.
Currently serving over 6,000 organizations globally, including more than 65% of the Fortune 500, Workiva helps mitigate enterprise risk, improve productivity, and enable real-time decision-making. The platform is versatile, supporting a wide range of reporting requirements, from SEC filings to risk and compliance management.
Workiva’s platform is renowned for connecting and transforming data from a multitude of enterprise resource planning (ERP), human capital management (HCM), and customer relationship management (CRM) systems, along with other third-party cloud and on-premise applications. This capability allows users to create, review, and publish data-linked documents and reports with higher control, consistency, accuracy, and productivity.
Recent achievements include Workiva’s collaborative efforts in the realm of Environmental, Social, and Governance (ESG) reporting. The company has hosted webinars and podcasts with industry leaders to explore the evolving landscape of ESG regulations and integrated reporting. Noteworthy discussions include the value of collaboration in ESG with executives from Nike and the New York Stock Exchange, and the role of ESG controllers in bridging finance and sustainability with Mastercard.
Workiva employs over 1,000 people across 15 cities worldwide, demonstrating a significant global presence. The company continues to innovate, recently hosting a webinar in partnership with PwC to discuss the 2024 Executive Benchmark on Integrated Reporting, reflecting its commitment to staying ahead of reporting regulations and providing its customers with leading-edge solutions.
For more information, visit workiva.com.
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.
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.
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.
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