Workiva Inc. ( (WK) ) has released its Q1 earnings. Here is a breakdown of the information Workiva Inc. presented to its investors.
Workiva Inc. is a company that provides a platform for transparency, accountability, and trust, primarily serving finance, accounting, sustainability, risk, and audit teams across various organizations worldwide. In its first quarter of 2025, Workiva reported a total revenue of $206 million, marking a 17% increase from the previous year, with subscription and support revenue growing by 20%. The company also repurchased $40 million of Class A common stock and saw a 32% increase in customers with annual contract values over $500,000.
Key financial highlights include a GAAP gross margin of 76.6% and a non-GAAP gross margin of 78.7%. Despite a GAAP net loss of $21 million, the company achieved a non-GAAP net income of $8 million. Workiva’s customer base expanded to 6,385, with a retention rate of 97% and a net retention rate of 110%. The company also reported significant growth in large contracts, with a 32% increase in customers with annual contract values exceeding $500,000.
Workiva’s strategic focus remains on executing its growth strategy and productivity initiatives, as highlighted by its leadership. The company’s financial outlook for the second quarter of 2025 anticipates total revenue between $208 million and $210 million, with a GAAP operating margin of approximately (14.8)%. For the full year 2025, Workiva expects total revenue in the range of $864 million to $868 million.
Looking ahead, Workiva maintains confidence in its long-term market opportunities and continues to focus on delivering its growth targets for 2025 and beyond. The company’s management remains committed to leveraging its competitive differentiation to drive performance and productivity.