https://assets.capyfin.com/instruments/678fdc13234e27009c5d5f2f.png avatar
Workiva
🇺🇸 NYSE:WK
View Company
OverviewEarningsDividends
•
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.

Total Revenue
$106M
Previous year: $83.9M
+25.9%
EPS
$0.07
Previous year: -$0.06
-216.7%
Number of customers
3.95K
Previous year: 3.51K
+12.4%
Customers ACV > $100k
952
Previous year: 716
+33.0%
Gross Profit
$81M
Previous year: $61.6M
+31.5%
Cash and Equivalents
$322M
Previous year: $402M
-19.9%
Free Cash Flow
$11.9M
Previous year: $6.49M
+84.0%
Total Assets
$739M
Previous year: $655M
+12.9%

Workiva

Workiva

Workiva 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.
  • 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

Company Overview

Full financial data and analysis

View Workiva