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Workiva
🇺🇸 NYSE:WK
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•
Dec 31, 2020

Workiva Q4 2020 Earnings Report

Workiva's Q4 2020 financial results were announced, showing revenue growth and improved profitability.

Key Takeaways

Workiva announced strong Q4 2020 results, with total revenue reaching $93.8 million, a 16.9% increase year-over-year. Subscription and support revenue was a key driver, growing by 22.4%. The company reported a GAAP net loss of $8.0 million, an improvement from the previous year's $16.1 million loss, and a non-GAAP net income of $4.6 million, compared to a loss in the prior year. Workiva is raising guidance for fiscal 2021 revenue.

Total revenue for Q4 2020 reached $93.8 million, up 16.9% from Q4 2019.

Subscription and support revenue increased to $81.0 million, a 22.4% rise compared to the previous year.

GAAP loss from operations improved to $5.1 million, compared to a $14.4 million loss in Q4 2019.

Workiva had 3,723 customers as of December 31, 2020, a net increase of 213 customers from December 31, 2019.

Total Revenue
$93.8M
Previous year: $80.3M
+16.9%
EPS
$0.09
Previous year: -$0.09
-200.0%
Customers
3.72K
Previous year: 3.51K
+6.1%
Revenue Retention Rate
109.5%
Previous year: 113%
-3.1%
Customers ACV > 100k
847
Previous year: 652
+29.9%
Gross Profit
$70.2M
Previous year: $57.2M
+22.7%
Cash and Equivalents
$323M
Previous year: $382M
-15.4%
Free Cash Flow
$13.5M
Previous year: $1.74M
+672.9%
Total Assets
$707M
Previous year: $646M
+9.4%

Workiva

Workiva

Workiva Revenue by Segment

Forward Guidance

Workiva is providing guidance for Q1 2021 and full year 2021.

Positive Outlook

  • Total revenue is expected to be in the range of $100.0 million to $101.0 million for Q1 2021.
  • GAAP loss from operations is expected to be in the range of $8.5 million to $7.5 million for Q1 2021.
  • Non-GAAP income from operations is expected to be in the range of $4.0 million to $5.0 million for Q1 2021.
  • Total revenue is expected to be in the range of $409.0 million to $411.0 million for full year 2021.
  • GAAP loss from operations is expected to be in the range of $71.0 million to $69.0 million for full year 2021.

Challenges Ahead

  • GAAP net loss per basic and diluted share is expected to be in the range of $0.23 to $0.21 for Q1 2021.
  • Non-GAAP net income per basic share is expected to be in the range of $0.06 to $0.08 for Q1 2021.
  • GAAP net loss per basic and diluted share is expected to be in the range of $1.63 to $1.59 for full year 2021.
  • Non-GAAP loss from operations is expected to be in the range of $12.0 million to $10.0 million for full year 2021.
  • Non-GAAP net loss per basic share is expected to be in the range of $0.30 to $0.26 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