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 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.
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.
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