Workiva Inc. is a global provider of cloud-based software solutions designed to streamline and manage compliance and regulatory reporting. Its flagship offering, ...
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.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$884.6M
+19.7%
+3.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-26.2M
+52.5%
-29.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+78.5%
+2.3%
+0.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-4.8%
+53.7%
-26.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-3.0%
+60.3%
-31.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$138.0M
+60.2%
+202.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+15.6%
+33.8%
+193.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-14860.6%
-680.9%
+87.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.57x
-11.4%
-3.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
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 …
