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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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