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Dec 31, 2019
Workiva Q4 2019 Earnings Report
Reported a revenue increase driven by subscription growth and investments in key areas.
Key Takeaways
Workiva announced Q4 2019 financial results with a 24.6% increase in total revenue compared to Q4 2018. Subscription and support revenue grew by 23.0% year-over-year. The company's customer base reached 3,510, and revenue retention rate including add-on revenue was 113.0%.
Total revenue for the fourth quarter of 2019 reached $80.3 million, an increase of 24.6% from the fourth quarter of 2018.
Subscription and support revenue contributed $66.1 million, up 23.0% versus the fourth quarter of 2018.
Workiva had 3,510 customers as of December 31, 2019, a net increase of 170 customers from December 31, 2018.
Revenue retention rate including add-on revenue was 113.0%.
Revenue by Segment
Forward Guidance
Workiva is providing guidance for its first quarter 2020 and full year 2020.
Positive Outlook
- Total revenue is expected to be in the range of $82.8 million to $83.3 million for Q1 2020.
- GAAP loss from operations is expected to be in the range of $17.6 million to $18.1 million for Q1 2020.
- Non-GAAP loss from operations is expected to be in the range of $7.0 million to $7.5 million for Q1 2020.
- GAAP net loss per basic and diluted share is expected to be in the range of $0.39 to $0.40 for Q1 2020.
- Non-GAAP net loss per basic and diluted share is expected to be in the range of $0.12 to $0.13 for Q1 2020.
Challenges Ahead
- Total revenue is expected to be in the range of $341.5 million to $343.5 million for FY 2020.
- GAAP loss from operations is expected to be in the range of $79.7 million to $81.7 million for FY 2020.
- Non-GAAP loss from operations is expected to be in the range of $36.0 million to $38.0 million for FY 2020.
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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