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 Inc. (NYSE:WK) reported strong financial results for Q2 2024, with total revenue reaching $178 million, up 15% year-over-year. Subscription and support revenue grew 18% to $161 million. The company achieved a 31% YOY growth in customers with Annual Contract Value over $300K. Workiva also announced a $100 million share repurchase program.
Key financial highlights include:
- GAAP gross profit of $136 million, with a 76.8% gross margin
- Non-GAAP income from operations of $4 million
- Non-GAAP net income of $9 million, or $0.16 per diluted share
Workiva raised its full-year 2024 total revenue guidance to $727-$729 million, demonstrating confidence in its growth trajectory.
In the latest episode of ESG Talk, Michael Schor from Deloitte & Touche LLP and Grant Ostler from Workiva discuss combating greenwashing through good governance. The podcast explores unintentional greenwashing risks, external pressures on sustainability reporting, and how good governance builds truth and transparency.
ESG Talk is sponsored by Workiva, offering a unified platform for financial reporting, ESG, audit, and risk management. The podcast is available on Apple, Spotify, and YouTube. Listeners can learn more about Workiva's solutions at workiva.com.
Workiva (NYSE:WK), a premier cloud platform for integrated reporting, announced that it will release its Q2 2024 financial results on August 1, 2024, after market close. A conference call and live webcast will follow at 5 p.m. Eastern Time (22:00 GMT) to discuss the financial outcomes. The webcast will be accessible via the company's investor relations website and will be archived for replay. Stay tuned to https://investor.workiva.com for further information under the 'Events & Presentations' section.
On July 5, 2024, Bhushan Sethi, a partner in PwC's Strategy & Consulting business and an adjunct professor at NYU Stern School of Business, along with best-selling author and keynote speaker Stan Phelps, join co-host Mandi McReynolds on the ESG Talk podcast. The episode emphasizes the role of trust and transparency in employee engagement and the connection between employee well-being and financial performance. The podcast is sponsored by Workiva, known for its unified platform for financial reporting, ESG, audit, and risk management. For more details, listeners are encouraged to subscribe to ESG Talk on Apple, Spotify, and YouTube. Additional multimedia content and ESG storytelling by Workiva are available on 3blmedia.com.
In a recent episode of ESG Talk, Brett Weaver, tax leader for the ESG Practice at KPMG US, joins Workiva's Andie Wood to discuss the integral role of tax in sustainability. The discussion delves into the dual function of taxes as both a driver and a metric for sustainability efforts. They highlight the benefits of leveraging green tax incentives and compare different tax policy approaches between the United States and Europe. The podcast is part of ESG Talk by Workiva, a platform known for its comprehensive solutions in financial reporting, ESG, audit, and risk management. Listeners can subscribe to ESG Talk on popular platforms like Apple, Spotify, and YouTube for more insights on tax and sustainability topics.
CrossCountry Consulting has announced a strategic partnership with Workiva (NYSE:WK), a leading cloud platform for integrated reporting. This collaboration aims to leverage CrossCountry's advisory expertise and Workiva’s advanced technology to address the complex regulatory and reporting requirements faced by clients. Workiva's platform is widely used by professionals in accounting, finance, sustainability, audit, and risk management across over 6,000 global organizations for various reporting needs, including SEC filings and ESG reporting. This partnership seeks to enhance the financial operations, risk, and audit functions of CrossCountry's clients, driving strategic insights and value at scale.
Workiva's latest ESG Talk episode features host Mandi McReynolds in conversation with AT&T's Chief Sustainability Officer, Charlene Lake. They discuss the importance of having audit-ready ESG data and the role of technology in tracking and reporting emissions. The episode emphasizes the necessity for companies to adopt efficient technology solutions to streamline their ESG reporting processes. ESG Talk is available on Apple, Spotify, and YouTube. Workiva is highlighted as the only unified platform for financial reporting, ESG, audit, and risk management.
Workiva (NYSE: WK) has launched Workiva Carbon, enhancing its ESG and Sustainability Platform with carbon accounting and decarbonization tools.
This new offering supports global climate regulations like the CSRD, SEC’s climate disclosure rules, and California’s Climate Corporate Data Accountability Act. Workiva Carbon helps organizations track and manage greenhouse gas emissions, set science-based targets, and report consistent data to stakeholders.
It integrates with ERP systems and utility providers, using validated emissions factors across 240+ countries to calculate emissions. Workiva Carbon also streamlines supplier engagement and cross-departmental collaboration, reducing manual errors. The tool is bolstered by technology from the recent Sustain.Life acquisition.
On June 14, 2024, Laura Lane, chief corporate affairs and sustainability officer at UPS, joined Workiva's Andie Wood to discuss emissions reduction strategies. The focus was on leveraging data to drive down emissions, optimize investments, and achieve sustainability goals. This discussion is part of the ESG Talk podcast, available on Apple, Spotify, and YouTube, which is produced by Workiva, a unified platform for financial reporting, ESG, audit, and risk. Listeners can learn more about Workiva's offerings on their website or 3blmedia.com.
On June 7, 2024, Jim Andrew, PepsiCo's chief sustainability officer, and Mandi McReynolds from Workiva discussed sustainable agriculture. The conversation delved into building trust and accountability in the supply chain, the concept of shared value, and the importance of partnerships in achieving Environmental, Social, and Governance (ESG) goals. The discussion is available on the ESG Talk podcast, which can be accessed via Apple, Spotify, and YouTube. ESG Talk is hosted by Workiva, a leading platform for financial reporting, ESG, audit, and risk management.
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