WORKIVA INC

Listed Company

WKCIK 0001445305NYSELarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$884.57M

Net Income

$-26.17M

Total Assets

$1.49B

Equity

$-5.44M

Shares Out

—

Op. Cash Flow

$140.07M

Business

WORKIVA INC provides a unified software-as-a-service platform that connects data, processes and people to enable transparent, controlled and audit-ready reporting and disclosure across finance, sustainability and risk functions. It offers a cloud-native platform and fit-for-purpose solutions that connect and transform data from ERP, HCM, CRM and other systems to create, review and publish linked documents, reports, XBRL-tagged filings and professional services support. Sales and product organization centers on three solution groups: financial reporting, sustainability management and governance, risk & compliance, plus industry vertical solutions. Workiva serves a global enterprise customer base via direct sales, customer success and an expanding partner ecosystem, deploying a multi-tenant cloud platform across regions.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	885	739	630	538	443
Total cost of revenue	190	172	154	130	104
Gross profit	694	567	476	408	339
Research and development	215	193	173	152	116
Sales and marketing	409	347	287	245	179
General and administrative	113	103	111	100	74
Total operating expenses	737	643	570	497	369
Loss from operations	−42	−77	−95	−89	−29
Interest income	34	39	26	5	1
Interest expense	−13	−13	−54	−6	—
Other (expense) income, net	−1	563,000	−2	926,000	3
Loss before provision for income taxes	−22	−49	−124	−89	−39
Provision for income taxes	4	6	3	2	−1
Net loss	−26	−55	−128	−91	−38
Basic (in dollars per share)	−0.47	−0.99	−2.36	−1.72	−0.74
Diluted (in dollars per share)	−0.47	−0.99	−2.36	−1.72	−0.74
Weighted-average common shares outstanding - basic (in shares)	56	55	54	53	51
Weighted-average common shares outstanding - diluted (in shares)	56	55	54	53	51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	339	302	256	240	300
Marketable securities	553	515	558	191	230
Accounts receivable, net of allowance for doubtful accounts of $1,043 and $1,220 at December 31, 2025 and 2024, respectively	169	148	125	106	77
Deferred costs	63	51	39	38	31
Other receivables	10	10	7	7	4
Prepaid expenses and other	29	22	24	18	15
Total current assets	1,162	1,048	1,009	600	657
Property and equipment, net	21	22	24	27	29
Operating lease right-of-use assets	14	12	13	14	18
Deferred costs, non-current	60	55	33	34	33
Goodwill	206	197	112	110	35
Intangible assets, net	22	27	23	28	10
Other assets	8	8	5	7	5
Total assets	1,494	1,368	1,219	820	787
Accounts payable	9	8	5	6	4
Accrued expenses and other current liabilities	113	127	98	84	84
Deferred revenue	548	458	381	316	258
Convertible senior notes, current	71	0	—	0	299
Finance lease obligations	614,000	562,000	532,000	504,000	2
Total current liabilities	742	592	485	407	646
Convertible senior notes, non-current	696	765	762	340	0
Deferred revenue, non-current	37	30	36	38	34
Other long-term liabilities	92,000	227,000	178,000	2	2
Operating lease liabilities, non-current	10	9	11	12	16
Finance lease obligations, non-current	13	13	14	15	15
Total liabilities	1,499	1,410	1,308	814	714
Preferred stock, $0.001 par value per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0	0	0	0
Additional paid-in-capital	721	672	563	538	526
Accumulated deficit	−734	−708	−653	−525	−452
Accumulated other comprehensive income (loss)	7	−6	255,000	−7	−288,000
Total stockholders deficit	−5	−42	−89	6	73
Total liabilities and stockholders deficit	1,494	1,368	1,219	820	787

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	11	11	11	10	5
Stock-based compensation expense	123	102	99	71	49
(Recovery of) provision for doubtful accounts	−214,000	39,000	410,000	156,000	−125,000
Accretion of premiums and discounts on marketable securities, net	−5	−12	−8	1	3
Amortization of debt discount and issuance costs	2	2	2	1	9
Induced conversion expense	0	0	45	0	0
Realized loss on sale of available-for-sale securities, net	0	0	708,000	0	0
Deferred income tax	−396,000	−629,000	−14,000	538,000	−2
Accounts receivable	−17	−24	−18	−29	−8
Deferred costs	−14	−34	277,000	−8	−19
Operating lease right-of-use assets	6	5	5	5	4
Other receivables	−8,000	1	−2	−2	−391,000
Prepaid expenses and other	−6	1	−5	−3	−7
Other assets	−356,000	−2	2	−2	−1
Accounts payable	651,000	2	−1	2	972,000
Deferred revenue	89	74	60	62	47
Operating lease liabilities	−4	−4	−4	−5	−5
Accrued expenses and other liabilities	−18	20	11	−1	15
Net cash provided by operating activities	140	88	71	11	50
Purchase of property and equipment	−2	−1	−2	−3	−4
Purchase of marketable securities	−425	−402	−573	−131	−170
Maturities of marketable securities	390	452	153	151	143
Sale of marketable securities	3	5	65	15	250,000
Acquisitions, net of cash acquired	0	−98	0	−99	−37
Purchase of intangible assets	−391,000	−191,000	−235,000	−160,000	−219,000
Net cash used in investing activities	−35	−45	−357	−68	−69
Proceeds from option exercises	6	5	4	3	17
Taxes paid related to net share settlements of stock-based compensation awards	−23	−11	−9	−13	−27
Proceeds from shares issued in connection with employee stock purchase plan	14	14	13	9	9
Repurchases of Class A common stock	−72	0	0	—	—
Proceeds from the issuance of convertible senior notes, net of issuance costs	0	0	691	0	0
Payments for repurchase of convertible senior notes	0	0	−397	0	0
Principal payments on finance lease obligations	−560,000	−532,000	−505,000	−2	−2
Net cash (used in) provided by financing activities	−75	7	301	−2	−3
Effect of foreign exchange rates on cash	7	−4	2	−2	−270,000
Net increase in cash, cash equivalents, and restricted cash	37	46	17	−60	−22
Cash paid for interest	10	10	5	5	5
Cash paid for income taxes, net of refunds	5	6	3	1	−41,000
Purchases of property and equipment, accrued but not paid	616,000	581,000	0	0	350,000

Filings

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