Monty Rakusen As the stock market continues to hover around all-time highs, my focus remains on rotating more of my portfolio toward "growth at a reasonable price" stocks. Oftentimes these are companies that mainstream investors aren't incredibly familiar with, and stocks that don't make up common fund and ETF portfolios. I particularly like companies with strong fundamentals that have bucked YTD trends and have fallen sharply, as I do think rebound plays will be a great way to play the current market top. ...

Though the cloud computing sector has seen generous growth over the last five years, some analysts have wondered if the market is overvalued. However, there is no simple answer to this question, as the concept of cloud computing can refer to any number of companies that provide an offsite technical solution for customers. With the industry's potential projected to grow to $2.3 trillion by 2032, it's important to know which cloud computing stocks to sell and which to buy. Currently, some business analysts be ...

Workiva (WK) closed the last trading session at $81.88, gaining 0.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $110 indicates a 34.3% upside potential.The mean estimate comprises eight short-term price targets with a standard deviation of $13.61. While the lowest estimate of $85 indicates a 3.8% increase from the current price level, the most optimistic analyst expects the st ...

XBRL support Solutions for Accounting & Finance Teams SEC Reporting Financial Statement Automation Board Reporting Connect Transform Report Automate Financial data that's trusted & accessible Linked data across all usages Clear auditability Real-time information Digital reviews Link narrative, tables, and text Easy to use and learn Control via permissions Single document version Visual Here Scalable, unlimited users Unlimited Users Connected Financial & ESG Data Robust Audit Trail Save time and focus on val ...

Financial Data and Key Metrics Changes - Subscription revenue grew by 20% year-over-year, reaching $155 million in Q1 2024, while total revenue increased by 17% to $175.7 million [4][15][61] - Operating profit improved to $6 million in Q1 2024, compared to an operating loss of $7.3 million in Q1 2023, reflecting an 830 basis point improvement [16][15] - Gross profit totaled $136.5 million, up 20% from the prior year, with gross margin improving by 220 basis points to 78% [16][15] - The company reported a net revenue retention rate of 111%, up from 109% in Q1 2023, indicating strong customer retention and expansion [34] Business Line Data and Key Metrics Changes - ESG solutions continued to be a top performer, contributing significantly to new bookings and account expansions, with over 30% of Fortune 100 companies now using Workiva's ESG solutions [6][25][102] - Financial reporting solutions saw strong demand, with notable wins including a mid 6-figure deal with a U.S. hedge fund and several GRC deals with international clients [8][9][24] - Professional services revenue remained flat at $20.7 million, with a decline in setup and consulting revenue offset by growth in XBRL services [61] Market Data and Key Metrics Changes - The company reported a cautious buying environment, with extended deal cycles impacting bookings, particularly in Q1, which is typically a lower season for bookings [22][70] - The macroeconomic environment has led to slower new logo growth, particularly in the U.S., while demand in Europe remains strong, contributing to 15% of revenue outside North America [84][91] Company Strategy and Development Direction - The company continues to focus on expanding its large contract customer base, with contracts valued over $100,000 increasing by 24% year-over-year [22][62] - Workiva aims to leverage its integrated platform for financial reporting, ESG, and GRC solutions, positioning itself as a leader in assured integrated reporting [23][30] - The company is committed to improving productivity and performance while navigating a cautious market environment, with an increased focus on operational efficiency [31][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth strategy despite a cautious buying environment, emphasizing the importance of productivity initiatives [22][31] - The company anticipates continued demand for its solutions, particularly in light of increasing regulatory requirements for ESG reporting [28][65] - Management highlighted the importance of maintaining a balance between acquiring new customers and expanding existing relationships [72] Other Important Information - Workiva's cash, cash equivalents, and marketable securities increased by $25 million sequentially to $838 million as of March 31, 2024 [35] - The company has been recognized on Fortune's 100 Best Companies to Work For list for six consecutive years, reflecting its strong corporate culture [32] Q&A Session Summary Question: What is the impact of the SEC's ESG regulations on growth? - Management noted that while there may be some delays in purchasing due to regulatory uncertainty, the clarity provided by the SEC's climate disclosure rule has been beneficial for companies needing to comply [40][41] Question: How does the company view its margin outlook? - Management indicated that productivity improvements and careful hiring practices are expected to drive margin growth across all teams [42][43] Question: What is the visibility into the second half of the year? - Management acknowledged that while Q1 typically sees lower bookings, they remain optimistic about the second half of the year, expecting growth to stabilize [70][85] Question: How is the company addressing the global approach to ESG? - Management highlighted that companies are increasingly taking a global approach to ESG compliance, driven by stakeholder demand and regulatory requirements [93][102]

Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-36773 WORKIVA INC. (Exact name of registrant as specified in ...

Workiva Inc. Announces First Quarter 2024 Financial Results First Quarter 2024 Financial Results Key Metrics and Recent Business Highlights • Increased Q1 2024 Subscription & Support Revenue by 20% over Q1 2023 • Total revenues of $176 million in Q1 2024, representing 17% year-over-year growth • Achieved 34% YOY Growth of Customers with Annual Contract Value Over $300K • Revenue: Total revenue for the first quarter of 2024 reached $176 million, an increase of 17% from $150 million in the first quarter of 20 ...

The S&P 500 (^GSPC 0.86%) index gained 24% in 2023, which is more than twice its annual average return since its inception in 1957. The momentum has carried into 2024, with the index up another 10% so far.But some individual stocks are currently taking a breather after delivering positive gains last year. Zscaler (ZS -1.10%) stock is down 8% in 2024, and Workiva (WK 2.06%) has fallen 14%. Both companies are packed with long-term potential, so here's why the recent weakness might be a great buying opportunit ...

The stock market has been dominated by excitement over artificial intelligence (AI) during the past 12 months. Investors have rushed to buy some of the largest technology stocks in the world because they are at the forefront of the AI revolution, backing up the hype with strong financial results.But great opportunities still exist in other areas of the technology sector. According to The Wall Street Journal, 10 analysts cover innovative cloud data company Workiva (WK 5.06%), and they are overwhelmingly bull ...

Financial Data and Key Metrics Changes - In Q4 2023, the company reported total revenue of $166.7 million, reflecting a 16% increase from Q4 2022, and subscription revenue of $148.8 million, which was up 18% year-over-year [72][74] - The operating profit for Q4 2023 was $12.7 million, a significant improvement from $4.8 million in Q4 2022, driven by revenue outperformance and disciplined expense management [99] - The gross margin improved to 78% in Q4 2023, up 130 basis points from the prior year, attributed to better leverage on compensation and cloud computing costs [73] Business Line Data and Key Metrics Changes - Subscription revenue for Q4 2023 was driven by strong account expansion, with 64% of subscription revenue coming from customers using multiple solutions, up from 62% in Q4 2022 [5] - Professional Services revenue decreased to $17.9 million in Q4 2023, down 37 basis points compared to the same quarter last year, primarily due to a decline in setup and consulting revenue [46] - The number of contracts valued over $100,000 increased by 21%, while contracts over $150,000 and $300,000 rose by 27% and 32%, respectively, compared to Q4 2022 [55] Market Data and Key Metrics Changes - Revenue from outside the Americas accounted for 15% of total revenue in 2023, up from 11.5% in 2022, with subscription revenue in international markets growing by 50% [15][126] - The company added 89 net new customers in Q4, bringing the total customer count to 6,034, a growth of 370 customers from Q4 2022 [98] - The net revenue retention rate increased to 110% in Q4 2023, compared to 109% in Q4 2022, indicating strong customer retention [98] Company Strategy and Development Direction - The company is focused on subscription revenue growth and plans to balance this with productivity improvements while pursuing a large and untapped total addressable market (TAM) [40][81] - The partner-first strategy is driving results, particularly in the ESG sector, where demand remains strong despite regulatory uncertainties [22][86] - The company aims to continue investing in growth areas while maintaining margin expansion and operational efficiency [13][126] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth opportunities despite a cautious macroeconomic environment and ongoing uncertainties in customer buying behavior [10][95] - The company anticipates a subscription revenue growth of 16% for 2024, reflecting a conservative approach due to softer bookings in 2023 [101][145] - Management highlighted the importance of the upcoming ESG regulations, such as the European CSRD, in influencing customer purchasing decisions [115][140] Other Important Information - The company generated $630 million in total revenue for the full year 2023, exceeding guidance and achieving a 20% year-over-year growth in subscription revenue [74] - The company is implementing new designed reporting capabilities to enhance customer workflows and improve user experience [94][121] - The company expects total revenue for Q1 2024 to range from $173 million to $175 million, with services revenue anticipated to remain flat compared to Q1 2023 [41][127] Q&A Session All Questions and Answers Question: Can you provide insights on the 2024 guidance and factors considered? - Management noted that the guidance reflects a cautious outlook due to macroeconomic conditions and the ongoing softness in the IPO market, while also addressing the balance between subscription growth and declining services revenue [9][10] Question: What is the company's hiring plan for 2024? - The company plans to continue hiring where growth opportunities are identified, with a focus on strengthening its partner ecosystem and enhancing sales capabilities [26][118] Question: How is the company addressing the urgency of ESG regulations? - Management indicated that ESG remains a top solution in bookings performance, with increasing urgency from clients as regulatory deadlines approach, particularly in Europe [116][140]