Financial Data and Key Metrics Changes - In Q3 2025, total revenue reached $224 million, reflecting a 21% increase compared to Q3 2024, exceeding the high end of revenue guidance by $4 million [28] - Subscription revenue was $210 million, up 23% year-over-year, with new customers accounting for 40% of the increase [28] - Non-GAAP operating margin for the quarter was 12.7%, a 470 basis point improvement on the high end of guidance and an 860 basis point increase compared to Q3 2024 [6][29] Business Line Data and Key Metrics Changes - The number of contracts valued over $100,000 increased by 23%, contracts over $300,000 rose by 41%, and those over $500,000 grew by 42% compared to Q3 2024 [6][30] - 73% of subscription revenue came from customers using multiple solutions, up from 68% in Q3 2024 [29] Market Data and Key Metrics Changes - Revenue from international markets represented over 19% of total revenue, up from 17% a year ago, with strong demand across Europe [49] - The company supported several high-profile IPOs in Q3, indicating a positive trend in capital markets activity [17] Company Strategy and Development Direction - The company is focused on durable growth and improved operating leverage, with a commitment to innovation and customer needs [5][21] - Recent product enhancements include AI-powered solutions aimed at increasing customer speed, agility, and confidence [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic uncertainties but emphasized the resilience of the business and the importance of providing transparency and accountability [50] - The company raised its full-year revenue guidance to $880 million-$882 million, reflecting strong performance and a commitment to operational efficiency [32] Other Important Information - A leadership change was announced with Michael Pinto appointed as the new Executive Vice President and Chief Revenue Officer, focusing on scaling and accelerating profitable growth [25][60] - The company is transitioning to a flexible time-off plan in 2026, which is expected to positively impact operating margin [31] Q&A Session Summary Question: Insights on platform sales and consolidation trends - Management confirmed a trend towards consolidation in the Office of the CFO, highlighting the benefits of a unified platform [38][39] Question: Early indicators on new pricing strategy - Management noted that early indicators are positive, contributing to account expansions [40] Question: Operating margin outlook for 2026 - Management expects continued progress towards medium-term targets, with a focus on productivity and operational efficiency [44] Question: Demand environment and capital markets activity - Management reported consistent uncertainty in the market but noted strong revenue and bookings growth, with optimism for continued momentum post-government shutdown [50][48] Question: Update on sustainability demand - Management indicated that while near-term tailwinds have subsided, demand for sustainability solutions remains strong, driven by business performance and risk management [56][54]

Financial Data and Key Metrics Changes - In Q4 2024, total revenue reached $200 million, representing a 20% increase compared to Q4 2023, while subscription revenue grew by 22% to $181 million [10][64] - For the full year 2024, total revenue was $739 million, up 17% from 2023, with subscription revenue at $668 million, a 20% increase [70] - Non-GAAP operating margin improved to 4.3% for the full year, up from 1.6% in 2023, and Q4 operating margin was 7.4% [11][72] - Free cash flow margin for 2024 was 11.7%, exceeding guidance by 170 basis points [11][73] Business Line Data and Key Metrics Changes - Subscription revenue growth was driven by both new customers and account expansions, with new customers contributing 42% to the Q4 subscription revenue increase [65] - The number of contracts valued over $100,000 increased by 26% year-over-year, with contracts over $300,000 and $500,000 growing by 34% and 32%, respectively [69] - Professional services revenue for Q4 was $19 million, slightly up from Q4 2023, driven by higher XBRL services [65] Market Data and Key Metrics Changes - 17.5% of total worldwide revenue in 2024 came from outside the Americas, an increase of 280 basis points from 2023 [15] - The sustainability market is expected to grow, with companies increasingly investing in sustainability reporting to meet regulatory demands [22][41] Company Strategy and Development Direction - The company is focused on broad-based demand across its platform, emphasizing multi-solution deals and vendor consolidation [14][88] - Workiva aims to leverage its Assured Integrated Reporting platform, which integrates financial reporting, sustainability, and governance risk and compliance [16][62] - The company is prioritizing AI capabilities to enhance customer workflows and streamline processes [55][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance despite macroeconomic uncertainties, including policy and geopolitical risks [61][84] - The guidance for 2025 includes a 20% growth in subscription revenue, reflecting a balanced approach to market conditions [61][92] Other Important Information - The company has seen a significant increase in demand for its sustainability solutions, with a notable rise in companies committing to science-based targets [33][41] - Workiva's platform is recognized for its ability to address both financial and non-financial reporting needs, which is becoming increasingly important in the current regulatory environment [30][41] Q&A Session Summary Question: What are the main policy uncertainties affecting guidance? - Management indicated that general uncertainty, including tariffs and exchange rates, is influencing the guidance, rather than any single factor [82][84] Question: How does the multiproduct strategy impact the pipeline? - The multiproduct strategy is seen as a significant differentiator, with broad-based demand across the platform and opportunities for cross-selling and upselling [86][88] Question: What is the outlook for sustainability revenue? - Sustainability revenue continues to be a top booking solution, expected to play a balanced role in 2025, although specific revenue splits are not provided [94][95] Question: How is the shift to partner-led services impacting deployment speed? - The company is seeing improved deployment speed and customer satisfaction as partners develop tools and capabilities around the platform [101][102] Question: Is there a risk of deferring sustainability projects? - Management has not observed any trends indicating that customers are deferring sustainability-related projects [108][109] Question: How is back-office digitization impacting demand? - There is strong demand for the platform driven by new ERP systems and upgrades, with significant opportunities arising from finance transformations [118][120] Question: What is the contribution of CSRD to growth in Europe? - Growth in Europe is attributed to broad-based demand across the portfolio, not solely driven by CSRD-related activities [123][124]

Financial Data and Key Metrics Changes - In Q4 2024, total revenue reached $200 million, reflecting a 20% increase compared to Q4 2023, while subscription revenue grew by 22% to $181 million [10][64] - For the full year 2024, total revenue was $739 million, up 17% from 2023, with subscription revenue at $668 million, a 20% increase [70] - Non-GAAP operating margin improved to 4.3% for the full year 2024, up from 1.6% in 2023, with a free cash flow margin of 11.7% [11][72] Business Line Data and Key Metrics Changes - Subscription revenue growth was driven by both new customers and account expansions, with new customers contributing 42% to the Q4 subscription revenue increase [65] - The number of contracts valued over $100,000 increased by 26% year-over-year, with contracts over $300,000 and $500,000 rising by 34% and 32%, respectively [69] Market Data and Key Metrics Changes - 17.5% of total worldwide revenue in 2024 came from outside the Americas, an increase of 280 basis points from 2023 [15] - The sustainability market is expected to grow, with companies increasingly investing in sustainability reporting to meet regulatory demands [22][41] Company Strategy and Development Direction - The company is focused on broad-based demand across its platform, emphasizing multi-solution deals and vendor consolidation [14][87] - Workiva aims to leverage its Assured Integrated Reporting platform to integrate financial reporting, sustainability, and governance risk and compliance [16][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance despite macroeconomic uncertainties, including policy and geopolitical risks [61][84] - The guidance for 2025 includes a 20% growth in subscription revenue, reflecting a balanced approach to market conditions [61][76] Other Important Information - The company has seen a significant increase in demand for its sustainability solutions, with a notable rise in companies committing to science-based targets [33][41] - AI has been prioritized as a key innovation area, with customers increasingly adopting AI capabilities to enhance productivity [55][56] Q&A Session Summary Question: What are the main policy uncertainties affecting the company? - Management indicated that general uncertainty, including tariffs and exchange rates, is impacting guidance, but not any specific policy [82][84] Question: How does the multiproduct strategy affect the pipeline? - The multiproduct strategy is seen as a significant differentiator, with broad-based demand across the platform and opportunities for cross-selling [86][87] Question: What is the outlook for sustainability revenue? - Sustainability revenue continues to be a top booking solution, expected to play a balanced role in 2025, although specific revenue splits are not provided [94][95] Question: How is the transition to partner-led services impacting deployment? - The transition to partners has improved deployment speed and customer satisfaction, with partners developing tools to enhance value [101][102] Question: Is there a risk of deferring sustainability projects? - Management has not observed any trends indicating deferrals in sustainability projects, despite the typical Q1 filing season [108][109] Question: How is the company addressing back-office digitization? - New ERP systems and upgrades are driving demand for the platform, with strong partnerships facilitating these opportunities [118][120] Question: What is the impact of CSRD on European revenue? - The company has seen broad-based demand in Europe, with significant growth not solely attributed to CSRD but also to overall platform execution [123][125]