Workiva(US:WK)2024-02-20 23:41Financial Performance & Targets - Subscription revenue showed strong growth, with Q4 2023 seeing an 18% increase [73] - The company targets a non-GAAP operating margin of approximately 22% in 2027 [6] - The company's Q1 2024 non-GAAP income from operations is guided at $5 million, with full-year 2024 guidance at $19 million [79, 107] Revenue & Customer Retention - Gross dollar retention was 98% in Q4 2023, and net dollar retention with add-ons reached 110% [89] - There is growth in large ACV (Annual Contract Value) customers, specifically those with >$100k, >$150k, and >$300k ACV [101] - The company has over 6,000 organizations using the Workiva platform globally [45, 61] Strategic Focus & Market Opportunity - The company is focused on providing solutions for regulatory, financial, and ESG reporting [13] - The company estimates a large, untapped global Total Addressable Market (TAM) of $25 billion [25] - The company aims to unify processes for assured integrated reporting [19] Operational Efficiency - The company is aiming to increase its consolidated gross margin to approximately 82% [6] - The company is aiming to reduce Research & Development expenses as a percentage of revenue to approximately 19% [6] - The company is aiming to reduce Sales & Marketing expenses as a percentage of revenue to approximately 32% [6]