Strong Revenue Growth
Workiva achieved 23% growth in subscription revenue and 21% growth in total revenue, exceeding the high end of their revenue guidance.
Increase in Large Contracts
Contracts valued over $100,000 increased by 27%, over $300,000 by 37%, and over $500,000 by 35% compared to Q2 2024.
High Customer Retention
Gross retention rate was 97%, exceeding the 96% internal target, and net retention rate was 114% for the quarter.
Notable Deals and Expansions
Significant deals were signed with a Fortune 500 bank, a U.K.-based asset management company, and a South American utility company, along with other notable expansions in financial services and sustainability.
Improved Operating Margin
Non-GAAP operating margin for the quarter was 3.8%, exceeding guidance by 380 basis points.
Positive Cash Flow and Share Repurchase
Cash, cash equivalents, and marketable securities increased by $47 million, and 132,000 shares were repurchased for $10 million.