Workiva Inc. Announces First Quarter 2022 Financial Results

  • Increased Q1 2022 Subscription & Support Revenue by 26.1% over Q1 2021
  • Generated Total Q1 2022 Revenue of $129.7 Million, up 24.4% over Q1 2021
  • Achieved 31.9% YOY Growth of Customers with Annual Contract Value Over $150K

AMES, Iowa--()--Workiva Inc. (NYSE:WK), the company powering transparent reporting for a better world, today announced financial results for its first quarter ended March 31, 2022.

"The Workiva team generated strong revenue for the first quarter which resulted in growth of 26.1% in subscription & support revenue and 24.4% in total revenue," said Marty Vanderploeg, Chief Executive Officer.

"In the first quarter, we saw solid demand across our solution portfolio," said Jill Klindt, Chief Financial Officer. "We added 93 net new logos, saw a 27% YOY increase in the number of customers with contract values over $100k, and achieved our highest revenue retention rate of 97.7%."

"Workiva's mission is to power transparent reporting for a better world, and we believe that we have the team, the technology, and the opportunity to continue to capture share in our large and relatively unaddressed TAM," added Vanderploeg.

First Quarter 2022 Financial Highlights

  • Revenue: Total revenue for the first quarter of 2022 reached $129.7 million, an increase of 24.4% from $104.2 million in the first quarter of 2021. Subscription and support revenue contributed $107.1 million, up 26.1% versus the first quarter of 2021. Professional services revenue was $22.6 million, an increase of 16.9% compared to the same quarter in the prior year.
  • Gross Profit: GAAP gross profit for the first quarter of 2022 was $98.8 million compared with $80.5 million in the same quarter of 2021. GAAP gross margin was 76.2% versus 77.3% in the first quarter of 2021. Non-GAAP gross profit for the first quarter of 2022 was $100.0 million, an increase of 22.9% compared with the prior year's first quarter, and non-GAAP gross margin was 77.1% compared to 78.1% in the first quarter of 2021.
  • Results from Operations: GAAP loss from operations for the first quarter of 2022 was $17.2 million compared with a loss of $4.1 million in the prior year's first quarter. Non-GAAP loss from operations was $1.2 million, compared with non-GAAP income from operations of $7.5 million in the first quarter of 2021.
  • GAAP Net Loss: GAAP net loss for the first quarter of 2022 was $18.5 million compared with a net loss of $7.3 million for the prior year's first quarter. GAAP net loss per basic and diluted share was $0.35 compared with a net loss per basic and diluted share of $0.15 in the first quarter of 2021.
  • Non-GAAP Net Income/Loss: Non-GAAP net loss for the first quarter of 2022 was $2.5 million compared with net income of $6.6 million in the prior year's first quarter. Non-GAAP net loss per basic and diluted share was $0.05, compared with net income per basic and diluted share of $0.13 and $0.12, respectively, in the first quarter of 2021.
  • Liquidity: As of March 31, 2022, Workiva had cash, cash equivalents, and marketable securities totaling $523.5 million, compared with $530.4 million as of December 31, 2021. Workiva had $345.0 million aggregate principal amount of 1.125% convertible senior notes due in 2026 and $16.2 million of finance lease obligations outstanding as of March 31, 2022.

Key Metrics and Recent Business Highlights

  • Customers: Workiva had 4,408 customers as of March 31, 2022, a net increase of 608 customers from March 31, 2021.
  • Revenue Retention Rate: As of March 31, 2022, Workiva's revenue retention rate (excluding add-on revenue) was 97.7%, and the revenue retention rate including add-on revenue was 109.2%. Add-on revenue includes changes in both solutions and pricing for existing customers.
  • Large Contracts: As of March 31, 2022, Workiva had 1,124 customers with an annual contract value (“ACV”) of more than $100,000, up 27% from 884 customers at March 31, 2021. Workiva had 603 customers with an ACV of more than $150,000, up 32% from 457 customers in the first quarter of 2021. Workiva had 186 customers with an ACV of more than $300,000, up 42% from 131 customers in the first quarter of 2021.
  • On April 1, 2022, we acquired all of the issued and outstanding equity interests in Denmark-based ParsePort ApS (“ParsePort”), a leading solution provider for the European Single Electronic Format (“ESEF”) financial reporting mandate, which complements Workiva's cloud platform.

Financial Outlook

As of May 3, 2022, Workiva is providing guidance as follows:

Second Quarter 2022 Guidance:

  • Total revenue is expected to be in the range of $125.5 million to $126.5 million.
  • GAAP loss from operations is expected to be in the range of $32.5 million to $31.5 million.
  • Non-GAAP loss from operations is expected to be in the range of $13.0 million to $12.0 million.
  • GAAP net loss per basic share is expected to be in the range of $0.64 to $0.62.
  • Non-GAAP net loss per basic share is expected to be in the range of $0.27 to $0.25.
  • Net loss per basic share is based on 52.7 million weighted-average shares outstanding.

Full Year 2022 Guidance:

  • Total revenue is expected to be in the range of $534.0 million to $536.0 million.
  • GAAP loss from operations is expected to be in the range of $107.0 million to $105.0 million.
  • Non-GAAP loss from operations is expected to be in the range of $32.0 million to $30.0 million.
  • GAAP net loss per basic share is expected to be in the range of $2.12 to $2.08.
  • Non-GAAP net loss per basic share is expected to be in the range of $0.71 to $0.67.
  • Net loss per basic share is based on 53.0 million weighted-average shares outstanding.

The financial impact of Workiva's April 1, 2022 acquisition of ParsePort is not included in the Company's updated guidance. We expect that ParsePort will be accretive to our 2022 results.

Quarterly Conference Call

Workiva will host a conference call today at 5:00 p.m. ET to review the Company’s financial results for the first quarter 2022, in addition to discussing the Company’s outlook for the second quarter and full year 2022. To access this call, dial 888-330-2469 (U.S. domestic) or 240-789-2740 (international). The conference ID is 8736384. A live webcast of the conference call will be accessible in the "Investor Relations" section of Workiva’s website at www.workiva.com. A replay of this conference call can also be accessed through May 10, 2022, at 800-770-2030 (U.S. domestic) or 647-362-9199 (international). The replay pass code is 8736384. An archived webcast of this conference call will also be available an hour after the completion of the call in the "Investor Relations" section of the Company’s website at www.workiva.com.

About Workiva

Workiva Inc. (NYSE:WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading regulatory, financial, and ESG reporting solutions to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Our cloud-based platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.

Read the Workiva blog: www.workiva.com/blog
Follow Workiva on LinkedIn: www.linkedin.com/company/workiva
Like Workiva on Facebook: www.facebook.com/workiva
Follow Workiva on Twitter: www.twitter.com/workiva

Non-GAAP Financial Measures

The non-GAAP adjustments referenced herein relate to the exclusion of stock-based compensation and amortization of acquisition-related intangible assets. A reconciliation of GAAP to non-GAAP historical financial measures has been provided in Table I at the end of this press release. A reconciliation of GAAP to non-GAAP guidance has been provided in Table II at the end of this press release.

Workiva believes that the use of non-GAAP gross profit and gross margin, non-GAAP income (loss) from operations, non-GAAP net income (loss) and non-GAAP net income (loss) per share is helpful to its investors. These measures, which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting principles in the United States, or GAAP. Non-GAAP gross profit is calculated by excluding stock-based compensation expense attributable to cost of revenues from gross profit. Non-GAAP gross margin is the ratio calculated by dividing non-GAAP gross profit by revenues. Non-GAAP income (loss) from operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets from loss from operations. Non-GAAP net income (loss) is calculated by excluding stock-based compensation expense, net of tax, and amortization expense for acquisition-related intangible assets. Non-GAAP net income (loss) per share is calculated by dividing non-GAAP net income (loss) by the weighted- average shares outstanding as presented in the calculation of GAAP net loss per share. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, Workiva believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful comparisons between its operating results from period to period. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe it is reflective of ongoing operations. Workiva’s management uses these non-GAAP financial measures as tools for financial and operational decision making and for evaluating Workiva’s own operating results over different periods of time.

Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in Workiva’s industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Workiva’s reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable future a significant recurring expense in Workiva’s business and an important part of the compensation provided to its employees. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Investors should review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included below, and not rely on any single financial measure to evaluate Workiva’s business.

Safe Harbor Statement

Certain statements in this press release are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about the Company’s expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "outlook," "guidance" or the negative of those terms or other comparable terminology.

Please see the Company’s documents filed or to be filed with the Securities and Exchange Commission, including the Company’s annual reports filed on Form 10-K and quarterly reports on Form 10-Q, and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this report. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

WORKIVA INC.

 

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

 

Three months ended March 31,

 

2022

2021

 

(unaudited)

Revenue

 

 

Subscription and support

$

107,120

 

$

84,936

 

Professional services

 

22,554

 

 

19,286

 

Total revenue

 

129,674

 

 

104,222

 

Cost of revenue

 

 

Subscription and support (1)

 

18,533

 

 

13,202

 

Professional services (1)

 

12,340

 

 

10,474

 

Total cost of revenue

 

30,873

 

 

23,676

 

Gross profit

 

98,801

 

 

80,546

 

Operating expenses

 

 

Research and development (1)

 

35,884

 

 

26,634

 

Sales and marketing (1)

 

56,100

 

 

41,035

 

General and administrative (1)

 

23,994

 

 

17,021

 

Total operating expenses

 

115,978

 

 

84,690

 

Loss from operations

 

(17,177

)

 

(4,144

)

Interest income

 

280

 

 

360

 

Interest expense

 

(1,518

)

 

(3,485

)

Other expense, net

 

(165

)

 

(384

)

Loss before benefit for income taxes

 

(18,580

)

 

(7,653

)

Benefit for income taxes

 

(87

)

 

(329

)

Net loss

$

(18,493

)

$

(7,324

)

Net loss per common share:

 

 

Basic and diluted

$

(0.35

)

$

(0.15

)

Weighted-average common shares outstanding - basic and diluted

 

52,596,228

 

 

50,244,120

 

 

(1) Includes stock-based compensation expense as follows:

 

Three months ended March 31,

 

2022

2021

 

(unaudited)

Cost of revenue

Subscription and support

$

790

 

$

496

 

Professional services

 

452

 

 

367

 

Operating expenses

 

 

Research and development

 

2,725

 

 

2,431

 

Sales and marketing

 

4,085

 

 

3,549

 

General and administrative

 

7,257

 

 

4,780

 

 

WORKIVA INC.

 

CONSOLIDATED BALANCE SHEETS

(in thousands)

 

March 31, 2022

 

December 31, 2021

 

(unaudited)

 

 

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

303,076

 

 

$

300,386

 

Marketable securities

 

220,457

 

 

 

230,060

 

Accounts receivable, net

 

70,133

 

 

 

76,848

 

Deferred costs

 

31,816

 

 

 

31,152

 

Other receivables

 

3,359

 

 

 

3,538

 

Prepaid expenses and other

 

16,217

 

 

 

15,108

 

Total current assets

 

645,058

 

 

 

657,092

 

Property and equipment, net

 

28,091

 

 

 

28,821

 

Operating lease right-of-use assets

 

16,460

 

 

 

17,760

 

Deferred costs, non-current

 

30,879

 

 

 

33,091

 

Goodwill

 

34,556

 

 

 

34,556

 

Intangible assets, net

 

9,677

 

 

 

10,434

 

Other assets

 

5,162

 

 

 

5,005

 

Total assets

$

769,883

 

 

$

786,759

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

8,379

 

 

$

4,114

 

Accrued expenses and other current liabilities

 

71,589

 

 

 

84,126

 

Deferred revenue

 

259,387

 

 

 

258,023

 

Convertible senior notes, current

 

 

 

 

298,661

 

Finance lease obligations

 

1,257

 

 

 

1,575

 

Total current liabilities

 

340,612

 

 

 

646,499

 

Convertible senior notes, non-current

 

339,283

 

 

 

 

Deferred revenue, non-current

 

33,204

 

 

 

34,181

 

Other long-term liabilities

 

1,602

 

 

 

1,605

 

Operating lease liabilities, non-current

 

15,026

 

 

 

16,408

 

Finance lease obligations, non-current

 

14,963

 

 

 

15,087

 

Total liabilities

 

744,690

 

 

 

713,780

 

Stockholders’ equity

 

 

 

Common stock

 

52

 

 

 

51

 

Additional paid-in-capital

 

479,867

 

 

 

525,646

 

Accumulated deficit

 

(452,662

)

 

 

(452,430

)

Accumulated other comprehensive (loss) income

 

(2,064

)

 

 

(288

)

Total stockholders’ equity

 

25,193

 

 

 

72,979

 

Total liabilities and stockholders’ equity

$

769,883

 

 

$

786,759

 

 

WORKIVA INC.

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

Three months ended March 31,

 

2022

 

2021

 

(unaudited)

Cash flows from operating activities

 

 

 

Net loss

$

(18,493

)

 

$

(7,324

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

Depreciation and amortization

 

1,959

 

 

 

1,054

 

Stock-based compensation expense

 

15,309

 

 

 

11,623

 

Recovery of doubtful accounts

 

(29

)

 

 

(118

)

Amortization of premiums and discounts on marketable securities, net

 

660

 

 

 

625

 

Amortization of issuance costs and debt discount

 

324

 

 

 

2,266

 

Deferred income tax

 

(211

)

 

 

(346

)

Changes in assets and liabilities:

 

 

 

Accounts receivable

 

6,581

 

 

 

15,265

 

Deferred costs

 

1,444

 

 

 

(1,059

)

Operating lease right-of-use asset

 

1,301

 

 

 

944

 

Other receivables

 

180

 

 

 

(161

)

Prepaid expenses

 

(1,132

)

 

 

(3,747

)

Other assets

 

23

 

 

 

(573

)

Accounts payable

 

4,364

 

 

 

1,908

 

Deferred revenue

 

606

 

 

 

179

 

Operating lease liability

 

(1,342

)

 

 

(1,076

)

Accrued expenses and other liabilities

 

(12,481

)

 

 

(7,957

)

Net cash (used in) provided by operating activities

 

(937

)

 

 

11,503

 

 

 

 

 

Cash flows from investing activities

 

 

 

Purchase of property and equipment

 

(532

)

 

 

(849

)

Purchase of marketable securities

 

(34,148

)

 

 

(43,655

)

Sale of marketable securities

 

14,981

 

 

 

 

Maturities of marketable securities

 

26,250

 

 

 

40,586

 

Purchase of intangible assets

 

(40

)

 

 

(71

)

Net cash provided by (used in) investing activities

 

6,511

 

 

 

(3,989

)

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from option exercises

 

825

 

 

 

4,138

 

Taxes paid related to net share settlements of stock-based compensation awards

 

(8,570

)

 

 

(7,146

)

Proceeds from shares issued in connection with employee stock purchase plan

 

5,218

 

 

 

4,237

 

Principal payments on finance lease obligations

 

(442

)

 

 

(417

)

Net cash (used in) provided by financing activities

 

(2,969

)

 

 

812

 

Effect of foreign exchange rates on cash

 

85

 

 

 

16

 

Net increase in cash and cash equivalents

 

2,690

 

 

 

8,342

 

Cash and cash equivalents at beginning of period

 

300,386

 

 

 

322,831

 

Cash and cash equivalents at end of period

$

303,076

 

 

$

331,173

 

 

TABLE I

WORKIVA INC.

RECONCILIATION OF NON-GAAP INFORMATION

(in thousands, except share and per share)

 

Three months ended March 31,

 

2022

 

2021

Gross profit, subscription and support

$

88,587

 

 

$

71,734

 

Add back: Stock-based compensation

 

790

 

 

 

496

 

Gross profit, subscription and support, non-GAAP

$

89,377

 

 

$

72,230

 

As a percentage of subscription and support revenue, non-GAAP

 

83.4

%

 

 

85.0

%

 

 

 

 

Gross profit, professional services

$

10,214

 

 

$

8,812

 

Add back: Stock-based compensation

 

452

 

 

 

367

 

Gross profit, professional services, non-GAAP

$

10,666

 

 

$

9,179

 

As a percentage of professional services revenue, non-GAAP

 

47.3

%

 

 

47.6

%

 

 

 

 

Gross profit

$

98,801

 

 

$

80,546

 

Add back: Stock-based compensation

 

1,242

 

 

 

863

 

Gross profit, non-GAAP

$

100,043

 

 

$

81,409

 

As percentage of revenue, non-GAAP

 

77.1

%

 

 

78.1

%

 

 

 

 

Cost of revenue, subscription and support

$

18,533

 

 

$

13,202

 

Less: Stock-based compensation

 

790

 

 

 

496

 

Cost of revenue, subscription and support, non-GAAP

$

17,743

 

 

$

12,706

 

As percentage of revenue, non-GAAP

 

13.7

%

 

 

12.2

%

 

 

 

 

Cost of revenue, professional services

$

12,340

 

 

$

10,474

 

Less: Stock-based compensation

 

452

 

 

 

367

 

Cost of revenue, professional services, non-GAAP

$

11,888

 

 

$

10,107

 

As percentage of revenue, non-GAAP

 

9.2

%

 

 

9.7

%

 

 

 

 

Research and development

$

35,884

 

 

$

26,634

 

Less: Stock-based compensation

 

2,725

 

 

 

2,431

 

Less: Amortization of acquisition-related intangibles

 

495

 

 

 

 

Research and development, non-GAAP

$

32,664

 

 

$

24,203

 

As percentage of revenue, non-GAAP

 

25.2

%

 

 

23.2

%

 

 

 

 

Sales and marketing

$

56,100

 

 

$

41,035

 

Less: Stock-based compensation

 

4,085

 

 

 

3,549

 

Less: Amortization of acquisition-related intangibles

 

200

 

 

 

 

Sales and marketing, non-GAAP

$

51,815

 

 

$

37,486

 

As percentage of revenue, non-GAAP

 

40.0

%

 

 

36.0

%

 

 

 

 

General and administrative

$

23,994

 

 

$

17,021

 

Less: Stock-based compensation

 

7,257

 

 

 

4,780

 

General and administrative, non-GAAP

$

16,737

 

 

$

12,241

 

As percentage of revenue, non-GAAP

 

12.9

%

 

 

11.7

%

 

 

 

 

Loss from operations

$

(17,177

)

 

$

(4,144

)

Add back: Stock-based compensation

 

15,309

 

 

 

11,623

 

Add back: Amortization of acquisition-related intangibles

 

695

 

 

 

 

(Loss) income from operations, non-GAAP

$

(1,173

)

 

$

7,479

 

As percentage of revenue, non-GAAP

 

(0.9

) %

 

 

7.2

%

 

 

 

 

Net loss

$

(18,493

)

 

$

(7,324

)

Add back: Stock-based compensation

 

15,309

 

 

 

11,623

 

Add back: Amortization of acquisition-related intangibles

 

695

 

 

 

 

Add back: Non-cash interest expense related to convertible senior notes

 

 

 

 

2,266

 

Net (loss) income, non-GAAP

$

(2,489

)

 

$

6,565

 

As percentage of revenue, non-GAAP

 

(1.9

) %

 

 

6.3

%

 

 

 

 

Net loss per basic and diluted share:

$

(0.35

)

 

$

(0.15

)

Add back: Stock-based compensation

 

0.29

 

 

 

0.23

 

Add back: Amortization of acquisition-related intangibles

 

0.01

 

 

 

 

Add back: Non-cash interest expense related to convertible senior notes

 

 

 

 

0.05

 

Net (loss) income per basic share, non-GAAP

$

(0.05

)

 

$

0.13

 

Net (loss) income per diluted share, non-GAAP

$

(0.05

)

 

$

0.12

 

 

 

 

 

Weighted-average common shares outstanding - basic, non-GAAP

 

52,596,228

 

 

 

50,244,120

 

Weighted-average common shares outstanding - diluted, non-GAAP

 

52,596,228

 

 

 

55,090,270

 

 

TABLE II

WORKIVA INC.

RECONCILIATION OF NON-GAAP GUIDANCE

(in thousands, except share and per share data)

 

Three months ending June 30, 2022

 

Year ending December 31, 2022

 

 

 

 

 

 

 

 

Loss from operations, GAAP range

$

(32,500

)

-

$

(31,500

)

 

$

(107,000

)

-

$

(105,000

)

Add back: Stock-based compensation

 

18,805

 

 

 

18,805

 

 

 

72,200

 

 

 

72,200

 

Add back: Amortization of acquisition-related intangibles

 

695

 

 

 

695

 

 

 

2,800

 

 

 

2,800

 

Net loss from operations, non-GAAP range

$

(13,000

)

-

$

(12,000

)

 

$

(32,000

)

-

$

(30,000

)

 

 

 

 

 

 

 

 

Net loss per share, GAAP range

$

(0.64

)

-

$

(0.62

)

 

$

(2.12

)

-

$

(2.08

)

Add back: Stock-based compensation

 

0.36

 

 

 

0.36

 

 

 

1.36

 

 

 

1.36

 

Add back: Amortization of acquisition-related intangibles

 

0.01

 

 

 

0.01

 

 

 

0.05

 

 

 

0.05

 

Net loss per share, non-GAAP range

$

(0.27

)

-

$

(0.25

)

 

$

(0.71

)

-

$

(0.67

)

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - basic

 

52,700,000

 

 

 

52,700,000

 

 

 

53,000,000

 

 

 

53,000,000

 

 

Contacts

Investor Contact:
Mike Rost
Workiva Inc.
investor@workiva.com
(515) 663-4493

Media Contact:
Darcie Brossart
Workiva Inc.
press@workiva.com
(515) 663-4471

Contacts

Investor Contact:
Mike Rost
Workiva Inc.
investor@workiva.com
(515) 663-4493

Media Contact:
Darcie Brossart
Workiva Inc.
press@workiva.com
(515) 663-4471