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Jun 30, 2021
Workiva Q2 2021 Earnings Report
Announced second quarter 2021 financial results, demonstrating revenue growth and customer expansion.
Key Takeaways
Workiva reported a 25.9% increase in total revenue, reaching $105.6 million for Q2 2021. Subscription and support revenue grew by 29.0% compared to Q2 2020. The company raised its full-year revenue guidance to a range of $430 million to $432 million.
Total revenue reached $105.6 million, up 25.9% year-over-year.
Subscription and support revenue increased by 29.0% year-over-year, totaling $91.2 million.
Customers with an annual contract value (ACV) over $150K grew by 46% year-over-year.
Full-year revenue guidance was raised to $430 million to $432 million.
Workiva
Workiva
Workiva Revenue by Segment
Revenue by Segment
Subscription and Support Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Workiva provided the following guidance as of August 3, 2021: For the third quarter of 2021, total revenue is expected to be in the range of $108.0 million to $109.0 million. For the full year 2021, total revenue is expected to be in the range of $430.0 million to $432.0 million.
Positive Outlook
- Total revenue is expected to be in the range of $108.0 million to $109.0 million for Q3 2021.
- GAAP loss from operations is expected to be in the range of $17.6 million to $16.6 million for Q3 2021.
- Non-GAAP loss from operations is expected to be in the range of $5.5 million to $4.5 million for Q3 2021.
- Total revenue is expected to be in the range of $430.0 million to $432.0 million for full year 2021.
- GAAP loss from operations is expected to be in the range of $47.7 million to $45.7 million for full year 2021.
Challenges Ahead
- GAAP net loss per basic and diluted share is expected to be in the range of $0.40 to $0.38 for Q3 2021.
- Non-GAAP net loss per basic share is expected to be in the range of $0.12 to $0.10 for Q3 2021.
- GAAP net loss per basic and diluted share is expected to be in the range of $1.19 to $1.15 for full year 2021.
- Non-GAAP income from operations is expected to be in the range of break-even to $2.0 million for full year 2021.
- Non-GAAP net loss per basic and diluted share is expected to be in the range of $0.08 to $0.04 for full year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income