Loading...
•
Jun 30, 2020
Workiva Q2 2020 Earnings Report
Reported financial results that exceeded guidance for revenue and operating results.
Key Takeaways
Workiva announced its Q2 2020 financial results, with total revenue reaching $83.9 million, a 14.1% increase from Q2 2019. Subscription and support revenue grew by 16.9% compared to the same quarter last year. The company reinstated its full year 2020 guidance due to improved visibility on closing new business.
Total revenue for the second quarter of 2020 reached $83.9 million, an increase of 14.1% from the second quarter of 2019.
Subscription and support revenue contributed $70.7 million, up 16.9% versus the second quarter of 2019.
Workiva had 3,512 customers as of June 30, 2020, a net increase of 91 customers from June 30, 2019.
As of June 30, 2020, Workiva had 716 customers with an annual contract value (ACV) of more than $100,000, up 28% from June 30, 2019.
Revenue by Segment
Forward Guidance
Workiva is providing guidance for Q3 2020 and full year 2020, factoring in the expected impacts of COVID-19 on its business.
Positive Outlook
- Total revenue is expected to be in the range of $84.3 million to $84.8 million for Q3 2020.
- GAAP loss from operations is expected to be in the range of $16.4 million to $16.9 million for Q3 2020.
- Non-GAAP loss from operations is expected to be in the range of $5.2 million to $5.7 million for Q3 2020.
- Total revenue is expected to be in the range of $341.5 million to $342.5 million for full year 2020.
- GAAP loss from operations is expected to be in the range of $56.5 million to $58.0 million for full year 2020.
Challenges Ahead
- GAAP net loss per basic and diluted share is expected to be in the range of $0.39 to $0.40 for Q3 2020.
- Non-GAAP net loss per basic and diluted share is expected to be in the range of $0.12 to $0.13 for Q3 2020.
- GAAP net loss per basic and diluted share is expected to be in the range of $1.37 to $1.40 for full year 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...