Workiva reports Q1 EPS 14c, consensus 7c

Reports Q1 revenue $206.3M, consensus $204.1M. Workiva (WK) had 6,385 customers as of March 31, 2025, a net increase of 311 customers from March 31, 2024. As of March 31, 2025, Workiva’s gross retention rate was 97%, and the net retention rate was 110%. Net retention includes changes in both solutions and pricing for existing customers. Large Contracts: As of March 31, 2025, Workiva had 2,079 customers with an annual contract value of more than $100,000, up 23% from 1,696 customers at March 31, 2024. Workiva had 439 customers with an ACV of more than $300,000, up 32% from 332 customers in the first quarter of 2024. Workiva had 191 customers with an ACV of more than $500,000, up 32% from 145 customers in the first quarter of 2024. “We kicked off the year with solid revenue growth as we continue to see broad-based demand across our solution portfolio. CFOs trust Workiva to be the platform that drives performance and productivity,” said Julie Iskow, CEO. “We remain focused on the execution of our growth strategy and productivity initiatives. We believe that we have the competitive differentiation and focused execution to continue to deliver on our 2025 and longer-term targets.”