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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 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.
Workiva (NYSE:WK) has announced its upcoming annual Investor Day, scheduled for Thursday, Nov. 18, 2021, starting at 9:00 a.m. CT. This virtual event will feature presentations from key executives, including Marty Vanderploeg, Julie Iskow, and Jill Klindt, covering the company’s platform, markets, and go-to-market strategies. Investors can access the live webcast via the investor relations website, where a replay will also be available.
The SOX & Internal Controls Professional Group, in collaboration with KPMG US and Workiva (NYSE:WK), released its sixth annual survey highlighting trends in SOX compliance amid the ongoing impacts of the COVID-19 pandemic. Key findings indicate that 53% of companies shifted to fully remote work, while 62% reported no loss in SOX compliance staff. The average number of key controls increased to 300, driven by company revenue. Despite positivity in compliance adjustments, 75% of practitioners still utilize multiple technologies, and automation remains underutilized, with two-thirds not employing bots.
Workiva (NYSE: WK) announced it will release its third quarter financial results on November 3, 2021, after market closure. Following this, an investor conference call will be held at 5:00 p.m. ET. Investors can join by dialing 833-968-1977 (U.S.) or 647-689-6649 (international), using conference ID 8009407. A replay will be available until November 10, 2021, along with an archived webcast on their investor relations site.
Workiva Inc. (NYSE: WK) has been recognized as a Leader in The Forrester Wave™: Governance, Risk, and Compliance Platforms Q3 2021 report. The company achieved the highest score in 12 out of 25 evaluation criteria, including Audit Management and Vision. Workiva's platform facilitates collaboration and integration for operational, financial, and compliance reporting globally. This acknowledgment underscores Workiva's commitment to simplifying complex business processes and enhancing return on investment for clients worldwide.
Workiva Inc. (NYSE: WK) has launched a new data preparation capability called Data Prep at its annual conference. This no-code tool enables users to cleanse, transform, and integrate data from various enterprise systems, improving compliance reporting and collaboration. With pre-built transformations, Data Prep standardizes data reporting, reducing inconsistencies and enhancing accuracy. Enhanced by the recent acquisition of OneCloud, this functionality connects seamlessly with over 70 applications, streamlining data integration across platforms.
Wilson Sonsini Goodrich & Rosati has partnered with Workiva Inc. (NYSE: WK) to automate the daunting task of generating the registration statement for initial public offerings (IPOs), known as the SEC Form S-1. Their new tool, WS-1, aims to cut the approximately 950 hours required for drafting these documents, allowing clients to focus on more valuable aspects of the IPO process. The WS-1 has already been used in two pilot projects, showcasing significant efficiency improvements.
The SOX & Internal Controls Professional Group has announced the lineup for the upcoming SOX Summit, taking place virtually on September 20, 2021, from 2:00-4:30 p.m. EDT. Highlights include a keynote from Overstock's CEO Jonathan Johnson, who will discuss leadership and compliance, along with presentations from KPMG partners on identifying material weaknesses. The summit aims to provide actionable insights for accounting professionals, enhancing their personal development and career growth opportunities.
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