Workiva Inc. ( (WK) ) has released its Q4 earnings. Here is a breakdown of the information Workiva Inc. presented to its investors.
Workiva Inc. is a leading provider of cloud-based software solutions for assured integrated reporting, catering primarily to the financial and compliance sectors. The company’s platform is designed to streamline complex reporting and disclosure processes by connecting data and teams in a secure and audit-ready environment.
In its latest earnings report, Workiva Inc. announced a robust performance for the fourth quarter and full year of 2024, highlighted by significant growth in subscription and support revenue. The company reported a total revenue of $200 million for Q4 2024, marking a 20% increase compared to the same period in the previous year. This growth was driven by a 22% rise in subscription and support revenue, underscoring the strong demand for Workiva’s solutions.
Key financial metrics from the report reveal that Workiva’s customer base continues to expand, with a notable 32% year-over-year increase in customers with annual contract values exceeding $500,000. The company’s gross retention rate stood at an impressive 97%, while the net retention rate improved to 112%. Despite a GAAP net loss of $9 million for the quarter, Workiva achieved a non-GAAP net income of $19 million, reflecting its strategic focus on enhancing operational efficiency and customer value.
Looking ahead, Workiva’s management expressed confidence in the company’s market opportunities and its ability to capitalize on a large and untapped total addressable market. The financial outlook for 2025 anticipates continued revenue growth, with expectations set between $864 million and $868 million for the full year. The company aims to maintain a strong focus on innovation and expanding its partner ecosystem to drive further growth and deliver increased value to its customers.