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.
Frost & Sullivan's recent paper highlights the growing adoption of cloud-based reporting solutions among global companies, emphasizing their benefits for investors and stakeholders. Key findings from their Global Cloud Survey reveal that 44% of companies currently utilize these solutions, with 38% planning future investments. The paper underscores the significance of ESG reporting and increased process efficiency, shorter reporting cycles, and reduced costs associated with cloud technology. Workiva, collaborating on the paper, advocates for unified financial and non-financial reporting.
Workiva Inc. (NYSE:WK) announced its participation in several upcoming virtual investor conferences. Notable events include the Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021, at 11:00 a.m. ET, the Berenberg American Innovation Seminar on March 4, 2021, at 10:00 a.m. ET, and the Truist Securities Technology, Internet and Services Conference on March 9, 2021, at 10:30 a.m. ET. These events will be webcast live, with recordings available on Workiva’s investor relations website.
Workiva Inc. (NYSE:WK) reported its fourth quarter and full year results for 2020, demonstrating strong performance. Q4 revenue reached $93.8 million, up 16.9% year-over-year, driven by a 22.4% increase in subscription revenue. The company achieved a GAAP net loss of $8.0 million but improved from a loss of $16.1 million in Q4 2019. For fiscal 2021, Workiva raised its revenue guidance to $409.0 million - $411.0 million. The company boasts a revenue retention rate of 95.0%, and its customer base increased to 3,723.
Workiva (NYSE:WK) announces the retirement of Stuart Miller as Executive Vice President and Chief Financial Officer after seven years. Jill Klindt, previously Senior Vice President and Chief Accounting Officer, will assume the CFO role effective February 27, 2021. Klindt brings over 20 years of experience in finance, risk management, and accounting, having been instrumental in Workiva’s corporate governance and financial reporting. The transition is expected to be smooth, with Klindt and Miller having worked closely together, ensuring continuity in leadership.
Workiva (NYSE: WK) has upgraded its entire global customer base to the next generation Workiva Cloud Platform, enhancing its openness, intelligence, and intuitiveness. This upgrade enables organizations to better connect data, streamline workflows, and automate updates. The new platform features a microservices architecture facilitating rapid development and integration with external systems. Additionally, over 200 global partners are creating unique solutions using the platform, which supports clients' digital transformation initiatives.
Workiva (NYSE: WK) will release its fourth quarter and fiscal year 2020 financial results on February 17, 2021, after market close. An investor conference call will follow at 5:00 p.m. ET, accessible via phone and webcast. The conference ID for the call is 9516867. A replay will be available until February 24, 2021. Workiva's platform enhances efficiency, transparency, and reduces risk for organizations globally. For more information, visit workiva.com.
Workiva Inc. (NYSE:WK) announced its participation in two virtual investor conferences. Stuart Miller, Executive Vice President and CFO, will present at the Wells Fargo TMT Summit on December 2, 2020, at 3:20 p.m. ET, and the Raymond James Technology Investors Conference on December 8, 2020, at 5:00 p.m. ET. Both events will be webcast live, and recordings will be available on Workiva's investor relations website. The company simplifies complex work for organizations globally, enhancing efficiency, transparency, and reducing risk.
Workiva Inc. (NYSE:WK) reported strong financial results for Q3 2020, boasting total revenue of $88.1 million, an 18.8% increase from the previous year. Subscription revenue grew by 20.4% to $75.9 million. Notably, the company's GAAP loss from operations improved to $7.0 million, significantly better than last year's loss. Workiva raised its Q4 revenue guidance, estimating $90.2 million to $90.7 million. With a strong cash position of $523.9 million and a revenue retention rate of 94.9%, the outlook remains positive despite COVID-19 impacts.
Workiva (NYSE: WK) announced that Julie Iskow, the current EVP and COO, will join its Board of Directors effective January 1, 2021. Iskow brings extensive experience in leading SaaS companies, which has been instrumental in driving growth and operational efficiencies at Workiva. Concurrently, Eugene Katz will retire from the Board effective February 28, 2021, after serving since the company's IPO in 2014. The Board composition will now include seven directors, with five being independent.
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