WKMEDIUM SIGNALFINANCIAL10-K

Workiva shows strong operational momentum with revenue growth of nearly 20% and meaningfully improved profitability metrics across the board.

The company is demonstrating effective scaling with gross profit expanding faster than revenue growth, indicating improving unit economics. The substantial reduction in net losses coupled with improved operating performance suggests management is successfully balancing growth investments with profitability improvements.

Comparing 2026-02-19 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

Workiva delivered solid financial performance with revenue growing 20% to $884.6 million while gross profit expanded 23% to $694.1 million, demonstrating improving margins. Operating losses narrowed meaningfully, and net losses were substantially reduced, indicating the company is progressing toward profitability. The balance sheet strengthened with higher cash balances and improved equity position, while operating cash flow grew notably, providing a solid foundation for continued growth investments.

FINANCIAL STATEMENT CHANGES
Stockholders Equity
Balance Sheet
+87%
-$41.7M→-$5.4M

Equity base grew 87% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Cash Flow
Cash Flow
+59.7%
$87.7M→$140.1M

Operating cash flow surged 59.7% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
+52.5%
-$55.0M→-$26.2M

Net income grew 52.5% — bottom-line growth signals improving overall business health.

Capital Expenditure
Cash Flow
+52.2%
$1.4M→$2.1M

Capital expenditure jumped 52.2% — major investment cycle underway; assess returns on deployment.

Operating Income
P&L
+44.5%
-$76.5M→-$42.4M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Liabilities
Balance Sheet
+25.2%
$592.4M→$741.7M

Current liabilities rose 25.2% — increased short-term obligations, watch current ratio.

Gross Profit
P&L
+22.5%
$566.6M→$694.1M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Revenue
P&L
+19.7%
$738.7M→$884.6M

Revenue growing 19.7% — solid top-line momentum, watch margins for quality of growth.

Accounts Receivable
Balance Sheet
+13.8%
$148.4M→$169.0M

Receivables grew 13.8% — monitor days sales outstanding for collection efficiency.

Cash & Equivalents
Balance Sheet
+12.2%
$301.8M→$338.8M

Cash grew 12.2% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-02-19
PRIOR — 2025-02-25
ADDED
As of February 12, 2026 , there were approximately 53,227,057 shares of the Registrant s Class A common stock and 3,607,583 shares of the Registrant s Class B common stock outstanding.
The words anticipate, believe, continue, could, estimate, expect, intend, likely, may, plan, potential, predict, will, and similar expressions are intended to identify forward-looking statements.
Business Overview Workiva is a leading, AI-powered platform for trust, transparency, and accountability.
Accounting, finance, sustainability, risk, and audit teams worldwide rely on Workiva for their mission-critical work.
Workiva provides more than 6,600 organizations across the globe, including over 85% of FORTUNE 1,000 companies, with SaaS platform solutions to help solve some of the most complex reporting and disclosure challenges.
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REMOVED
As of February 19, 2025, there were approximately 52,280,439 shares of the Registrant s Class A common stock and 3,845,583 shares of the Registrant s Class B common stock outstanding.
The words believe, may, will, estimate, continue, anticipate, intend, expect and similar expressions are intended to identify forward-looking statements.
Business Overview Workiva s mission is to power transparent reporting for a better world.
Workiva provides more than 6,300 organizations across the globe with SaaS platform solutions to help solve some of the most complex reporting and disclosure challenges.
Our revenue grew to $738.7 million in 2024 from $537.9 million in 2022, representing a 17% compound annual growth rate.
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