Loading...
•
Jun 30, 2024
Workiva Q2 2024 Earnings Report
Reported a strong second quarter with significant revenue growth and improved profitability.
Key Takeaways
Workiva announced its Q2 2024 financial results, reporting a 15% increase in total revenue to $178 million compared to the previous year. Subscription and support revenue grew by 18% to $161 million. The company's GAAP operating margin improved, and it raised its full-year total revenue guidance to a range of $727 million to $729 million.
Total revenue increased by 15% year-over-year, reaching $178 million.
Subscription and support revenue grew by 18% compared to Q2 2023, totaling $161 million.
Customers with an annual contract value over $300,000 increased by 31% year-over-year.
The company announced a new $100 million share repurchase program.
Revenue by Segment
Forward Guidance
Workiva is providing the following guidance: For Q3 2024, total revenue is expected to be in the range of $182 million to $183 million. For the full year 2024, total revenue is expected to be in the range of $727 million to $729 million.
Positive Outlook
- Total revenue is expected to be in the range of $182 million to $183 million for Q3 2024.
- GAAP loss from operations is expected to be in the range of $22 million to $21 million for Q3 2024.
- Non-GAAP income from operations is expected to be in the range of $6.5 million to $7.5 million for Q3 2024.
- Total revenue is expected to be in the range of $727 million to $729 million for the full year 2024.
- GAAP loss from operations is expected to be in the range of $81 million to $79 million for the full year 2024.
Challenges Ahead
- GAAP net loss per basic share is expected to be in the range of $0.29 to $0.27 for Q3 2024.
- Non-GAAP net income per basic share is expected to be in the range of $0.22 to $0.24 for Q3 2024.
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...