NYSE$WK

Workiva Inc. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported strong financial results driven by market leadership and increased demand for transparent connected reporting.

Workiva Inc. reported a 28.7% increase in total revenue for Q4 2021, reaching $120.8 million. The company added 169 net new logos and achieved a revenue retention rate of 97%. Strong growth was seen in subscription and support revenue, as well as in the number of customers with contract values over $100k.

  • Increased Q4 2021 Subscription & Support Revenue by 28.8% over Q4 2020.
  • Generated Total Q4 2021 Revenue of $120.8 Million, up 28.7% over Q4 2020.
  • Achieved 37.9% YOY Growth of Customers with Annual Contract Value Over $150K.
  • Added 169 net new logos and achieved a revenue retention rate of 97%.

Headline financials

Total Revenue

$121M

Previous: $93.8M+28.7%
EPS (adj)

$0.03

Previous: $0.09-66.7%
Number of customers

4.3K

Previous: 3.7K+15.9%
Customers with ACV > $100K

1.1K

Previous: 847+32.3%
Customers with ACV > $300K

183

No prior period
Capital Expenditures

$1.1M

Previous: $110K+902.7%
Free Cash Flow

$8.17M

Previous: $13.5M-39.4%
Net Income

-$14.3M

Previous: -$8M-78.8%
Operating Income

-$11.5M

Previous: -$5.1M-125.5%
Gross Profit

$91.6M

Previous: $70.2M+30.5%
Cash & Equivalents

$300M

Previous: $323M-7.0%
Total Assets

$787M

Previous: $707M+11.3%
Stock-Based Comp

$13.3M

Previous: $10.3M+28.3%

Revenue & EPS history

Workiva · Revenue · Quarterly

$121M

Q4 2021+28.7%vs Q4 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Workiva · $121M total across 2 segments · Q4 2021

  • Subscription and support
    $104M+28.8%
  • Professional services
    $16.5M+28.3%

Forward guidance

Workiva provided guidance for Q1 2022 and full year 2022, including total revenue, GAAP and non-GAAP loss from operations, and net loss per share.

Tailwinds

  • Total revenue for Q1 2022 is expected to be in the range of $127.0 million to $128.0 million.
  • Total revenue for full year 2022 is expected to be in the range of $532.0 million to $534.0 million.

Headwinds

  • GAAP loss from operations for Q1 2022 is expected to be in the range of $22.9 million to $21.9 million.
  • Non-GAAP loss from operations for Q1 2022 is expected to be in the range of $7.0 million to $6.0 million.
  • GAAP net loss per basic and diluted share for Q1 2022 is expected to be in the range of $0.46 to $0.44.
  • Non-GAAP net loss per basic share for Q1 2022 is expected to be in the range of $0.16 to $0.14.
  • GAAP loss from operations for full year 2022 is expected to be in the range of $104.9 million to $102.9 million.

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 Q4 2021

Historical avgQ4 2021

+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

Earnings price reactions
QuarterReport dateReaction (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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