Workiva Inc. (NYSE: WK), headquartered in Ames, Iowa, is a leading SaaS company that empowers organizations to connect data, unify processes, and ensure trust and transparency in reporting. Founded in 2008 as WebFilings, Workiva initially focused on changing how corporations manage and report business data, releasing its first cloud solution ...Workiva Inc. (NYSE: WK), headquartered in Ames, Iowa, is a leading SaaS company that empowers organizations to connect data, unify processes, and ensure trust and transparency in reporting. Founded in 2008 as WebFilings, Workiva initially focused on changing how corporations manage and report business data, releasing its first cloud solution in 2010. Today, the company serves over 6,700 customers, including public and private companies, government agencies, and academic institutions, across North America, Europe, and Asia, with more than 2,800 employees and 16 global offices.
The Workiva platform is an AI-powered, audit-ready solution that simplifies financial reporting, sustainability (ESG) reporting, and governance, risk, and compliance (GRC) activities. It centralizes data from various sources such as ERP, GRC, HCM, and CRM systems, and provides features like granular permissions, process management, audit trails, and data linking. In June 2024, Workiva launched Workiva Carbon, expanding its capabilities to address carbon accounting and sustainability management.
Financially, Workiva has shown robust growth with revenue per share of $17.36 and a gross profit margin of 80.2%. The company's market cap is approximately $3.5 billion, with an enterprise value of $4.07 billion. It maintains strong operating cash flow with a free cash flow of $200 million, but has negative shareholder equity and a recent net loss of $55 million in 2024. Workiva invests heavily in R&D (22.4% of revenue) and sales & marketing (54.5% of revenue), focusing on innovation and market expansion.
Leadership is under President & CEO Julie Iskow, with CFO Jill Klindt and other key executives. The company is committed to innovation, collaboration, and equity, as reflected in its culture and product development. Despite challenges in profitability, Workiva continues to lead in assured integrated reporting, aiming to simplify complex reporting while ensuring data security and trust.
Operator: Good afternoon, ladies and gentlemen. Welcome to Workiva's Q2 2026 Earnings Call. My name is Harmony, and I will be your host operator on this call. Please note, this call is being recorded on August 4, 2026, at 5:00 p.m. Eastern Time. I would now like to turn the meeting over to your host for today's call, Katie White, Senior Director of Investor Relations.
Katie White: Good afternoon, and thank you for joining Workiva's Q2 2026 Conference Call. During today's call, we will review our second quarter results and discuss our guidance for the third quarter and full year 2026. Today's call will include comments from our Chief Executive Officer, Julie Iskow, followed by our Chief Financial Officer, Barbara Larson. We will then open up the call for a Q&A session. After market close today, we issued a press release, which is available on our Investor Relations website, along with our quarterly investor presentation. This conference call is being webcast live, and following the call, an audio replay will be available on our website. During today's call, we will be making forward-looking statements regarding future events and financial performance, including guidance for the third quarter and full fiscal year 2026. These forward-looking statements are based on our assumptions as to the macroeconomic, political and regulatory environment as of today, reflect management's current expectations and beliefs based on factors currently known to us and are subject to significant risks and uncertainties. Workiva cautions that these forward-looking statements are not guarantees of future performance. We undertake no obligation to update or revise these statements. If the call is reviewed after today, the information presented during this call may not contain current or accurate information. Please refer to the company's annual report on Form 10-K and subsequent filings with the SEC for factors that may cause our actual results to differ materially from those contained in our forward-looking statements. Also during the course of today's call, we will refer to certain non-GAAP financial measures. Reconciliations of GAAP and non-GAAP measures are included in today's press release. With that, we'll begin by turning the call over to Workiva's CEO, Julie Iskow.
Julie Iskow: Thank you, Katie, and thank you all for joining us today. Q2 2026 delivered another quarter of strong financial performance and continued demand for our trusted platform. We beat the high end of our revenue guidance with 19% growth in both subscription revenue and total revenue. We also continue to execute on our commitment to profitable growth, achieving a Q2 non-GAAP operating margin of 16.8%. This was a 180 basis point beat on the high end of our guide and a 1,300 basis point improvement compared to Q2 of last year. Our Q2 results once again reflect broad-based durable demand across our entire portfolio of solutions. It also reflects our unwavering commitment to operational efficiency …
