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Sep 30, 2022
Workiva Q3 2022 Earnings Report
Delivered revenue growth near the high end of their quarterly guidance, driven by strategic investments and multi-solution adoption.
Key Takeaways
Workiva announced its Q3 2022 financial results, with total revenue reaching $132.8 million, a 17.9% increase from Q3 2021. Subscription and support revenue grew by 19.9%. The company had 5,541 customers as of September 30, 2022, a net increase of 1,395 from the previous year.
Total revenue for Q3 2022 reached $132.8 million, up 17.9% from $112.7 million in Q3 2021.
Subscription and support revenue contributed $118.6 million, up 19.9% versus Q3 2021.
Workiva had 5,541 customers as of September 30, 2022, a net increase of 1,395 customers from September 30, 2021.
As of September 30, 2022, Workiva had 1,257 customers with an annual contract value (ACV) of more than $100,000, up 21% from 1,043 customers at September 30, 2021.
Workiva
Workiva
Workiva Revenue by Segment
Revenue by Segment
Subscription and Support Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Workiva is providing updated guidance for Q4 2022. Total revenue is expected to be in the range of $138.9 million to $139.9 million. GAAP net loss per basic share is expected to be in the range of $0.47 to $0.45.
Positive Outlook
- Total revenue is expected to be in the range of $138.9 million to $139.9 million.
- GAAP loss from operations is expected to be in the range of $24.9 million to $23.9 million.
- Non-GAAP loss from operations is expected to be in the range of $5.7 million to $4.7 million.
- GAAP net loss per basic share is expected to be in the range of $0.47 to $0.45.
- Non-GAAP net loss per basic share is expected to be in the range of $0.10 to $0.08.
Challenges Ahead
- GAAP loss from operations is expected to be in the range of $24.9 million to $23.9 million.
- Non-GAAP loss from operations is expected to be in the range of $5.7 million to $4.7 million.
- GAAP net loss per basic share is expected to be in the range of $0.47 to $0.45.
- Non-GAAP net loss per basic share is expected to be in the range of $0.10 to $0.08.
- Net loss per basic share is based on 53.3 million weighted-average shares outstanding.
Revenue & Expenses
Visualization of income flow from segment revenue to net income