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.
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.
Workiva, the provider of a unified platform for financial reporting, ESG, audit, and risk, hosts Tarynn Zenk, vice president of accounting and ESG controller at Mastercard, on its ESG Talk podcast. Zenk discusses the rising importance of ESG controllers in merging finance with sustainability, highlighting their role in maintaining the credibility of companies' ESG disclosures. The episode sheds light on the evolving responsibilities of ESG controllers amid growing demand for transparency in environmental, social, and governance (ESG) initiatives.
Listeners can subscribe to ESG Talk on Apple, Spotify, and YouTube for more insights.
Workiva Inc. (NYSE: WK), a leading cloud platform for integrated reporting, announced participation at two upcoming investor conferences.
CEO Julie Iskow will present at the Stifel Cross Sector Investor Conference on June 4, 2024, at 3:00 p.m. ET. CFO Jill Klindt will present at the William Blair Growth Stock Conference on June 5, 2024, at 1:00 p.m. ET.
Both events will be webcast live, with recordings available on Workiva's investor relations website for a time.
On May 24, 2024, Workiva released an ESG Talk episode featuring Garrett Quinn, chief sustainability officer at Smurfit Kappa Group, and Robert Eccles, a noted sustainability expert. Hosted by Andie Wood, the discussion delved into the challenge of merging sustainability with financial performance and highlighted Smurfit Kappa's efforts in implementing the Taskforce for Nature-related Financial Disclosures. The episode is part of Workiva's initiative to provide a unified platform for financial reporting, ESG, audit, and risk management.
On May 17, 2024, Workiva released an episode of the ESG Talk podcast featuring Shivaram Rajgopal, chair of accounting at Columbia Business School, and Gihan Hyde, CEO of Communique. Hosted by Mandi McReynolds, the episode delves into leadership in accounting and the role of sustainability in the profession. The discussion emphasizes how integrating sustainability can make accounting more appealing and meaningful. Workiva, known for its unified platform for financial reporting, ESG, audit, and risk, sponsors the podcast. Listeners can access the episode on Apple, Spotify, and YouTube.
RPD Energy's CEO and Iron Mountain's sustainability director discuss the journey to carbon-free data centers on ESG Talk. Iron Mountain pursues 24x7 carbon-free energy amidst rising electricity demands. Workiva sponsors ESG Talk, offering a unified platform for financial reporting, ESG, audit, and risk management.
Workiva hosted a discussion on the impact of digitization on ESG reporting with industry experts. The talk highlighted how XBRL taxonomies facilitate data sharing and analysis for corporate sustainability. ESG Talk podcast by Workiva explores these topics further, emphasizing the company's role as a unified platform for financial reporting, ESG, audit, and risk management.
Workiva Inc. announced financial results for Q1 2024, with a 20% increase in Subscription & Support Revenue, totaling $176 million in revenue, 17% YOY growth, and 34% YOY growth in customers with an annual contract value over $300K. The company achieved a GAAP gross profit of $134 million, with a 76.4% margin, and a non-GAAP gross profit of $136 million, with a 77.7% margin. GAAP net loss was $12 million, while non-GAAP net income was $13 million. Workiva had 6,074 customers as of March 31, 2024, and provided guidance for Q2 2024 and full year 2024.
The 2024 ESG Practitioner Survey reveals that a majority of companies are planning to comply with the EU's Corporate Sustainability Reporting Directive voluntarily. The report highlights increased involvement of internal teams in ESG reporting processes, importance of obtaining assurance over ESG data, and the growing investment in technology for collaboration among reporting teams.
The survey conducted by Workiva Inc. reveals that 81% of companies not subject to the European Union's Corporate Sustainability Reporting Directive (CSRD) plan to align their sustainability disclosures with its requirements. The survey polled over 2,000 professionals across North America, Europe, and Asia. Practitioners acknowledge the challenges of compliance but see the value in reporting, with 88% agreeing that ESG reporting offers a competitive edge. The majority believe that integrated reporting positively impacts decision-making, financial performance, and long-term value creation. Technology, particularly generative AI, is seen as important for simplifying reporting processes and enhancing collaboration among reporting teams.
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