NYSE$WK
Workiva Inc. · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Workiva's financial performance exceeded expectations, driven by strong subscription and support revenue growth.
Workiva announced its Q1 2020 financial results, reporting a 22.6% increase in total revenue to $85.8 million compared to Q1 2019. Subscription and support revenue grew by 21.8% to $68.4 million. The company's leadership expressed confidence in its financial position, citing nearly $500 million in unrestricted cash and short-term investments, despite economic uncertainties due to COVID-19.
- Total revenue reached $85.8 million, up 22.6% from Q1 2019.
- Subscription and support revenue was $68.4 million, a 21.8% increase year-over-year.
- Workiva had 3,507 customers as of March 31, 2020, a net increase of 141 customers from March 31, 2019.
- Revenue retention rate including add-on revenue was 110.9%.
Headline financials
Revenue & EPS history
Workiva · Revenue · Quarterly
$85.8M
Revenue by segment
Workiva · $85.8M total across 2 segments · Q1 2020
- Subscription and support$68.4M+21.8%79.7%
- Professional services$17.4M+26.0%20.3%
Forward guidance
Workiva is providing guidance for the second quarter but suspending specific guidance for full year 2020. For full year 2020, revenue is expected to grow at a slower pace and operating margin to improve.
Tailwinds
- Total revenue is expected to be in the range of $80.3 million to $80.8 million for Q2 2020.
- GAAP loss from operations is expected to be in the range of $22.1 million to $22.6 million for Q2 2020.
- Non-GAAP loss from operations is expected to be in the range of $6.8 million to $7.3 million for Q2 2020.
- GAAP net loss per basic and diluted share is expected to be in the range of $0.50 to $0.51 for Q2 2020.
- Non-GAAP net loss per basic and diluted share is expected to be in the range of $0.14 to $0.15 for Q2 2020.
Headwinds
- The depth and duration of the economic disruption from COVID-19 is unknown.
- Limited visibility on when new deals will close.
- Suspending specific guidance for full year 2020.
- Now expect full year 2020 revenue to grow at a slower pace
- GAAP net loss per basic and diluted share is expected to be in the range of $0.50 to $0.51.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.6%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+3.1%
Avg return
30 days after
56%
25 / 45 earnings
Positive
+21.1%
Q3 2020
Best reaction
-15.3%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -16.2% | -11.9% | |
| Q4 2025 | +3.6% | -0.3% | +2.5% | |
| Q3 2025 | +6.4% | +13.6% | +12.5% | |
| Q1 2025 | -9.7% | -8.9% | -9.5% | |
| Q4 2024 | +7.0% | +3.2% | -5.7% | |
| Q3 2024 | +10.9% | +14.4% | +24.7% | |
| Q2 2024 | -2.1% | -3.3% | +6.0% | |
| Q1 2024 | +1.7% | +2.2% | -4.1% | |
| Q4 2023 | -12.6% | -6.7% | -9.7% | |
| Q3 2023 | -6.9% | -4.1% | +2.5% | |
| Q2 2023 | +5.4% | +4.8% | +8.3% | |
| Q1 2023 | -6.7% | -4.9% | +3.9% | |
| Q4 2022 | -0.7% | -0.9% | +10.4% | |
| Q3 2022 | -6.9% | -7.9% | +13.0% | |
| Q2 2022 | +5.2% | +4.1% | -2.4% | |
| Q1 2022 | -9.2% | -20.0% | -21.5% | |
| Q4 2021 | -9.8% | -2.1% | +7.7% | |
| Q3 2021 | +8.7% | +9.9% | -11.4% | |
| Q2 2021 | +7.5% | +3.2% | +12.6% | |
| Q1 2021 | -0.5% | -0.7% | -0.3% | |
| Q4 2020 | +3.0% | -0.7% | -13.2% | |
| Q3 2020 | +21.1% | +19.8% | +35.5% | |
| Q2 2020 | +0.6% | -2.6% | -2.6% | |
| Q1 2020 | -4.0% | +1.6% | +19.2% | |
| Q4 2019 | -3.4% | -7.9% | -39.9% | |
| Q3 2019 | -6.6% | +0.2% | +6.0% | |
| Q2 2019 | +11.2% | +12.6% | -16.3% | |
| Q1 2019 | -0.6% | -0.1% | +4.7% | |
| Q4 2018 | +9.3% | +10.7% | +7.7% | |
| Q3 2018 | +16.4% | +3.1% | -0.1% | |
| Q2 2018 | +17.1% | +18.7% | +50.8% | |
| Q1 2018 | +15.0% | +20.1% | +17.2% | |
| Q4 2017 | -15.3% | -12.6% | -10.9% | |
| Q3 2017 | +0.0% | -2.2% | -6.3% | |
| Q2 2017 | +4.4% | +1.0% | +3.4% | |
| Q1 2017 | +7.8% | +6.6% | +12.6% | |
| Q4 2016 | +7.8% | +10.7% | +11.9% | |
| Q3 2016 | -10.3% | -11.9% | -17.0% | |
| Q2 2016 | +7.3% | +14.7% | +30.1% | |
| Q1 2016 | -4.4% | — | — | |
| Q4 2015 | -2.1% | — | — | |
| Q3 2015 | +7.5% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | +0.1% | — | — | |
| Q4 2014 | -4.8% | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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