Workiva (WK) Financials

$67.31 -7.08 (-9.52%)

Closing price 05/2/2025 03:59 PM Eastern

Extended Trading

$67.19 -0.12 (-0.17%)

As of 05/2/2025 07:52 PM Eastern

Annual Income Statements for Workiva

This table shows Workiva's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-43	-44	-44	-50	-47	-48	-38	-91	-128	-55
Consolidated Net Income / (Loss)	-43	-44	-44	-50	-47	-48	-38	-91	-128	-55
Net Income / (Loss) Continuing Operations	-43	-44	-44	-50	-47	-48	-38	-91	-128	-55
Total Pre-Tax Income	-43	-44	-44	-50	-47	-49	-39	-89	-124	-49
Total Operating Income	-44	-44	-44	-50	-45	-38	-29	-89	-95	-77
Total Gross Profit	105	127	148	178	213	261	339	408	476	567
Total Revenue	145	179	208	244	298	352	443	538	630	739
Operating Revenue	145	179	208	244	298	352	443	538	630	739
Total Cost of Revenue	40	52	60	66	85	90	104	130	154	172
Operating Cost of Revenue	40	52	60	66	85	90	104	130	154	172
Total Operating Expenses	149	171	192	228	258	299	369	497	570	643
Selling, General & Admin Expense	29	33	40	56	48	60	74	100	111	103
Marketing Expense	70	80	84	90	120	145	179	245	287	347
Research & Development Expense	50	57	68	82	90	95	116	152	173	193
Total Other Income / (Expense), net	0.28	-0.38	-0.06	-0.04	-1.93	-11	-9.75	-0.24	-30	27
Interest Expense	2.03	1.88	1.85	1.83	6.03	14	14	6.04	54	13
Interest & Investment Income	-	-	0.59	1.28	4.66	3.28	1.04	4.88	26	39
Other Income / (Expense), net	2.30	1.50	1.20	0.51	-0.56	-0.21	3.23	0.93	-1.81	0.56
Income Tax Expense	-0.01	0.02	0.06	0.25	0.14	-0.29	-1.37	1.95	3.43	5.60
Basic Earnings per Share	($1.09)	($1.08)	($1.07)	($1.15)	($1.03)	($1.00)	($0.74)	($1.72)	($2.36)	($0.99)
Weighted Average Basic Shares Outstanding	39.85M	40.67M	41.62M	43.64M	46.30M	48.45M	51.13M	52.95M	54.10M	55.36M
Diluted Earnings per Share	($1.09)	($1.08)	($1.07)	($1.15)	($1.03)	($1.00)	($0.74)	($1.72)	($2.36)	($0.99)
Weighted Average Diluted Shares Outstanding	39.85M	40.67M	41.62M	43.64M	46.30M	48.45M	51.13M	52.95M	54.10M	55.36M
Weighted Average Basic & Diluted Shares Outstanding	39.85M	40.67M	41.62M	43.64M	46.30M	48.45M	51.96M	53.10M	54.73M	56.13M

This table shows Workiva's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-30	-14	-46	-21	-56	-4.20	-12	-18	-17	-8.82
Consolidated Net Income / (Loss)	-30	-14	-46	-21	-56	-4.20	-12	-18	-17	-8.82
Net Income / (Loss) Continuing Operations	-30	-14	-46	-21	-56	-4.20	-12	-18	-17	-8.82
Total Pre-Tax Income	-29	-13	-46	-20	-56	-2.70	-11	-16	-16	-6.34
Total Operating Income	-30	-13	-47	-23	-16	-9.47	-18	-23	-22	-13
Total Gross Profit	100	109	112	116	120	129	134	136	142	154
Total Revenue	133	144	150	155	158	167	176	178	186	200
Operating Revenue	133	144	150	155	158	167	176	178	186	200
Total Cost of Revenue	32	34	39	40	38	38	42	41	44	46
Operating Cost of Revenue	32	34	39	40	38	38	42	41	44	46
Total Operating Expenses	131	123	159	138	135	138	152	159	164	168
Selling, General & Admin Expense	27	24	42	24	21	24	24	26	26	27
Marketing Expense	65	60	71	72	73	72	83	85	90	90
Research & Development Expense	39	38	46	43	42	43	45	48	48	51
Total Other Income / (Expense), net	0.89	0.51	1.28	2.60	-40	6.77	7.31	7.05	5.75	6.98
Interest Expense	1.51	1.50	1.50	1.50	47	3.20	3.23	3.24	3.20	3.20
Interest & Investment Income	1.44	2.56	3.72	4.54	7.29	10	10	10	9.30	9.31
Other Income / (Expense), net	0.96	-0.54	-0.94	-0.44	-0.07	-0.36	0.09	-0.05	-0.35	0.87
Income Tax Expense	0.47	1.14	0.59	0.82	0.53	1.49	0.71	1.45	0.96	2.48
Basic Earnings per Share	($0.56)	($0.26)	($0.86)	($0.39)	($1.04)	($0.07)	($0.21)	($0.32)	($0.31)	($0.15)
Weighted Average Basic Shares Outstanding	53.08M	52.95M	53.69M	54.01M	54.26M	54.10M	54.92M	55.18M	55.58M	55.36M
Diluted Earnings per Share	($0.56)	($0.26)	($0.86)	($0.39)	($1.04)	($0.07)	($0.21)	($0.32)	($0.31)	($0.15)
Weighted Average Diluted Shares Outstanding	53.08M	52.95M	53.69M	54.01M	54.26M	54.10M	54.92M	55.18M	55.58M	55.36M
Weighted Average Basic & Diluted Shares Outstanding	52.55M	53.10M	53.39M	53.66M	54.05M	54.73M	54.82M	55.24M	55.39M	56.13M

This table details how cash moves in and out of Workiva's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-42	-7.47	9.05	17	304	-59	-22	-60	17	46
Net Cash From Operating Activities	-22	-10	5.52	6.40	31	33	50	11	71	88
Net Cash From Continuing Operating Activities	-22	-10	5.52	6.40	31	33	50	11	71	88
Net Income / (Loss) Continuing Operations	-43	-44	-44	-50	-47	-48	-38	-91	-128	-55
Consolidated Net Income / (Loss)	-43	-44	-44	-50	-47	-48	-38	-91	-128	-55
Depreciation Expense	4.41	3.82	3.55	3.78	3.84	4.30	5.24	10	11	11
Amortization Expense	0.08	0.15	0.10	-0.14	3.28	9.56	12	2.38	-5.99	-9.39
Non-Cash Adjustments To Reconcile Net Income	9.05	13	17	31	38	50	49	76	150	107
Changes in Operating Assets and Liabilities, net	8.27	16	29	21	33	18	21	14	43	34
Net Cash From Investing Activities	-20	3.81	-6.47	-5.63	-90	-104	-69	-68	-357	-45
Net Cash From Continuing Investing Activities	-20	3.81	-6.47	-5.63	-90	-104	-69	-68	-357	-45
Purchase of Property, Plant & Equipment	-1.84	-1.90	-1.19	-1.12	-3.10	-1.87	-3.53	-3.46	-2.12	-1.36
Acquisitions	-0.39	-0.19	-0.20	-0.25	-0.73	-0.30	-38	-99	-0.24	-98
Purchase of Investments	-24	-1.30	-14	-25	-114	-176	-171	-131	-573	-402
Sale and/or Maturity of Investments	6.52	7.20	9.28	20	27	74	143	166	218	457
Net Cash From Financing Activities	-1.10	-0.90	9.82	17	363	11	-3.39	-1.59	301	6.74
Net Cash From Continuing Financing Activities	-1.10	-0.90	9.82	17	363	11	-3.39	-1.59	301	6.74
Repayment of Debt	-2.37	-1.91	-1.59	-1.16	-1.57	-1.64	-1.71	-1.58	-397	-0.53
Issuance of Debt	0.30	-	0.00	0.00	336	-	0.00	0.00	691	0.00
Issuance of Common Equity	-	0.00	0.00	3.22	4.92	7.23	8.86	9.26	13	14
Other Financing Activities, net	2.69	1.02	11	15	24	5.53	-11	-9.27	-4.99	-6.55
Effect of Exchange Rate Changes	0.09	-	0.18	-0.39	0.29	0.48	-0.27	-1.92	1.64	-3.57
Cash Interest Paid	2.05	1.84	1.63	1.73	1.34	5.07	4.84	4.74	4.71	10
Cash Income Taxes Paid	0.06	0.05	0.04	0.07	0.37	0.68	-0.04	1.43	2.66	6.20

This table details how cash moves in and out of Workiva's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	3.24	11	-45	3.45	206	-148	40	-28	-20	54
Net Cash From Operating Activities	4.86	-1.27	5.56	26	15	24	25	-0.01	19	44
Net Cash From Continuing Operating Activities	4.86	-1.27	5.56	26	15	24	25	-0.01	19	44
Net Income / (Loss) Continuing Operations	-30	-14	-46	-21	-56	-4.20	-12	-18	-17	-8.82
Consolidated Net Income / (Loss)	-30	-14	-46	-21	-56	-4.20	-12	-18	-17	-8.82
Depreciation Expense	2.68	2.85	2.80	2.87	2.69	2.79	2.52	2.56	3.01	2.91
Amortization Expense	0.45	0.16	-0.70	-1.25	-1.46	-2.58	-3.14	-2.55	-2.03	-1.68
Non-Cash Adjustments To Reconcile Net Income	22	18	40	22	66	22	24	27	29	28
Changes in Operating Assets and Liabilities, net	9.75	-8.33	9.61	23	4.26	6.06	13	-9.08	6.18	24
Net Cash From Investing Activities	-2.63	11	-50	-23	-109	-175	17	-26	-50	13
Net Cash From Continuing Investing Activities	-2.63	11	-50	-23	-109	-175	17	-26	-50	13
Purchase of Property, Plant & Equipment	-1.02	-1.23	-0.20	-0.64	-0.90	-0.39	-0.20	-0.11	-0.24	-0.81
Acquisitions	-0.06	-0.05	-0.08	-0.04	-0.05	-0.07	-0.03	-98	0.14	-0.07
Purchase of Investments	-42	-31	-126	-51	-145	-251	-117	-35	-159	-92
Sale and/or Maturity of Investments	40	44	76	29	37	77	134	107	109	106
Net Cash From Financing Activities	3.47	-1.44	-0.35	-0.59	301	0.98	-1.33	-1.48	8.68	0.87
Net Cash From Continuing Financing Activities	3.47	-1.44	-0.35	-0.59	301	0.98	-1.33	-1.48	8.68	0.87
Repayment of Debt	0.89	-1.58	-0.12	-0.13	-397	-0.51	-0.13	-0.13	0.26	-0.53
Other Financing Activities, net	-1.46	0.13	-5.77	-0.47	-0.24	1.49	-8.31	-1.35	1.71	1.41
Effect of Exchange Rate Changes	-2.45	2.18	0.55	0.61	-1.24	1.72	-1.11	-0.36	2.39	-4.49
Cash Interest Paid	2.15	0.21	2.15	0.20	2.16	0.20	4.91	0.20	4.98	0.19
Cash Income Taxes Paid	0.22	0.58	0.32	1.20	0.61	0.53	0.95	2.18	1.39	1.68

This table presents Workiva's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	144	143	158	231	639	707	787	820	1,219	1,368
Total Current Assets	98	98	115	177	571	633	657	600	1,009	1,048
Cash & Equivalents	59	51	60	78	382	323	300	240	256	302
Short-Term Investments	17	11	16	21	106	207	230	191	558	515
Accounts Receivable	16	24	30	66	63	72	80	113	133	159
Prepaid Expenses	3.88	9.38	6.44	4.42	6.51	9.05	15	18	24	22
Other Current Assets	1.37	1.86	2.38	8.18	14	22	31	38	39	51
Plant, Property, & Equipment, net	44	43	40	41	32	29	29	27	24	22
Total Noncurrent Assets	1.61	2.51	1.98	12	35	45	101	192	186	298
Goodwill	-	-	-	-	-	0.00	35	110	112	197
Intangible Assets	0.90	1.01	1.12	1.27	1.65	1.58	10	28	23	27
Other Noncurrent Operating Assets	0.71	1.50	0.86	11	34	43	56	54	51	74
Total Liabilities & Shareholders' Equity	144	143	158	231	639	707	787	820	1,219	1,368
Total Liabilities	118	146	175	241	585	643	714	814	1,308	1,410
Total Current Liabilities	84	100	129	192	232	282	646	407	485	592
Accounts Payable	5.14	0.85	3.06	5.46	7.06	2.84	4.11	6.17	5.20	7.75
Accrued Expenses	20	21	20	36	50	68	84	84	98	127
Current Deferred Revenue	57	77	105	149	174	209	258	316	381	458
Other Current Liabilities	-	-	-	-	1.63	1.71	1.58	0.50	0.53	0.56
Total Noncurrent Liabilities	34	46	45	49	353	361	67	407	824	818
Long-Term Debt	0.07	0.05	-	0.00	281	289	0.00	340	762	765
Capital Lease Obligations	21	20	18	17	19	17	15	15	14	13
Noncurrent Deferred Revenue	7.60	21	23	25	33	36	34	38	36	30
Other Noncurrent Operating Liabilities	5.34	5.10	4.17	6.89	20	19	18	14	11	9.67
Total Equity & Noncontrolling Interests	26	-3.13	-17	-9.74	54	64	73	5.98	-89	-42
Total Preferred & Common Equity	26	-3.13	-17	-9.74	54	64	73	5.98	-89	-42
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	26	-3.13	-17	-9.74	54	64	73	5.98	-89	-42
Common Stock	202	217	248	297	420	479	526	538	563	672
Retained Earnings	-177	-221	-265	-307	-366	-415	-452	-525	-653	-708
Accumulated Other Comprehensive Income / (Loss)	0.24	0.29	0.07	0.10	0.29	0.23	-0.29	-6.69	0.26	-6.42

This table presents Workiva's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	777	800	831	1,149	1,202	1,243	1,302
Total Current Assets	568	585	620	947	997	932	989
Cash & Equivalents	229	195	199	405	296	268	248
Short-Term Investments	204	244	267	378	542	473	528
Accounts Receivable	86	82	90	106	95	128	147
Prepaid Expenses	14	24	25	22	26	21	21
Other Current Assets	35	40	38	37	38	42	45
Plant, Property, & Equipment, net	27	26	25	25	23	22	22
Total Noncurrent Assets	182	189	186	177	182	288	292
Goodwill	103	111	111	109	110	199	202
Intangible Assets	28	27	26	24	21	32	30
Other Noncurrent Operating Assets	51	50	49	44	50	57	59
Total Liabilities & Shareholders' Equity	777	800	831	1,149	1,202	1,243	1,302
Total Liabilities	782	799	831	1,263	1,285	1,320	1,353
Total Current Liabilities	376	396	424	438	467	506	539
Accounts Payable	9.67	6.39	5.31	4.91	9.91	8.23	13
Accrued Expenses	85	79	91	94	89	113	111
Current Deferred Revenue	281	310	327	338	367	384	414
Other Current Liabilities	0.61	0.51	0.52	0.53	0.54	0.55	0.56
Total Noncurrent Liabilities	406	403	406	825	818	814	814
Long-Term Debt	340	341	341	762	763	764	764
Capital Lease Obligations	15	14	14	14	14	14	14
Noncurrent Deferred Revenue	37	36	40	38	31	28	28
Other Noncurrent Operating Liabilities	14	12	11	11	10	9.08	8.30
Total Equity & Noncontrolling Interests	-5.49	0.93	0.16	-114	-83	-78	-51
Total Preferred & Common Equity	-5.49	0.93	0.16	-114	-83	-78	-51
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-5.49	0.93	0.16	-114	-83	-78	-51
Common Stock	522	576	596	541	585	609	645
Retained Earnings	-511	-571	-592	-648	-664	-682	-699
Accumulated Other Comprehensive Income / (Loss)	-17	-3.41	-3.41	-6.40	-3.64	-4.73	2.92

This table displays calculated financial ratios and metrics derived from Workiva's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.91%	22.97%	16.36%	17.55%	21.91%	18.03%	26.08%	21.34%	17.13%	17.24%
EBITDA Growth	-5.61%	-3.30%	-3.54%	-15.65%	14.87%	37.83%	64.03%	-766.23%	-21.18%	18.45%
EBIT Growth	-5.89%	-1.68%	-2.44%	-14.31%	6.71%	17.32%	31.26%	-236.21%	-9.68%	21.14%
NOPAT Growth	-13.14%	0.24%	-1.66%	-12.38%	8.80%	16.75%	22.35%	-202.38%	-6.49%	19.03%
Net Income Growth	-5.46%	-1.33%	-1.02%	-12.71%	5.18%	-1.94%	22.04%	-141.05%	-40.22%	56.84%
EPS Growth	14.84%	0.92%	0.93%	-7.48%	10.43%	2.91%	26.00%	-132.43%	-37.21%	58.05%
Operating Cash Flow Growth	-516.03%	51.98%	153.24%	15.94%	383.09%	7.52%	49.94%	-77.26%	525.33%	23.75%
Free Cash Flow Firm Growth	-52.89%	44.77%	87.05%	-1,021.96%	163.94%	-104.80%	-6,071.83%	-272.92%	92.99%	-954.00%
Invested Capital Growth	-31.75%	-62.87%	-65.49%	-21.10%	-49.16%	-19.34%	9.96%	51.32%	-80.95%	37.03%
Revenue Q/Q Growth	7.20%	3.77%	4.07%	4.24%	5.61%	4.01%	6.47%	4.47%	3.76%	4.71%
EBITDA Q/Q Growth	4.95%	6.30%	-23.04%	12.23%	-11.89%	27.95%	-124.41%	-5.74%	1.28%	-2.18%
EBIT Q/Q Growth	4.78%	6.08%	-20.73%	11.64%	-16.47%	18.91%	-29.34%	-2.67%	3.97%	-3.56%
NOPAT Q/Q Growth	-0.45%	9.15%	-19.62%	12.15%	-16.35%	19.28%	-27.65%	-2.04%	3.87%	-5.29%
Net Income Q/Q Growth	5.17%	5.94%	-18.09%	11.65%	-20.03%	13.62%	-20.09%	0.46%	7.07%	-9.16%
EPS Q/Q Growth	11.38%	6.09%	-17.58%	12.21%	-18.39%	15.25%	-17.46%	0.58%	7.45%	-8.79%
Operating Cash Flow Q/Q Growth	-2.03%	59.11%	-74.56%	982.91%	9.79%	49.55%	-7.57%	-48.18%	56.58%	28.83%
Free Cash Flow Firm Q/Q Growth	0.00%	52.23%	-111.81%	10.29%	-32.93%	97.79%	-103.29%	-15.60%	70.77%	17.46%
Invested Capital Q/Q Growth	-5.58%	-40.29%	-2.36%	1.00%	1.82%	-12.13%	-2.28%	16.56%	-5.44%	-61.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.33%	71.10%	71.02%	73.05%	71.46%	74.35%	76.58%	75.85%	75.52%	76.71%
EBITDA Margin	-25.40%	-21.33%	-18.98%	-18.68%	-13.04%	-6.87%	-1.96%	-13.99%	-14.47%	-10.07%
Operating Margin	-30.07%	-24.39%	-21.31%	-20.38%	-15.24%	-10.75%	-6.62%	-16.50%	-15.00%	-10.36%
EBIT Margin	-28.49%	-23.55%	-20.74%	-20.17%	-15.43%	-10.81%	-5.89%	-16.33%	-15.29%	-10.28%
Profit (Net Income) Margin	-29.87%	-24.62%	-21.37%	-20.49%	-15.94%	-13.77%	-8.51%	-16.91%	-20.24%	-7.45%
Tax Burden Percent	99.98%	100.05%	100.14%	100.50%	100.29%	99.40%	96.50%	102.19%	102.76%	111.33%
Interest Burden Percent	104.89%	104.46%	102.92%	101.11%	102.98%	128.11%	149.66%	101.32%	128.81%	65.08%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-106.45%	-389.28%	442.95%	375.43%	-213.57%	-81.70%	-54.98%	-230.36%	305.79%	83.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-26.83%	-29.32%	-28.66%	-25.35%	-10.57%	-5.65%	-3.50%	-10.94%	-9.45%	-5.87%
Return on Assets (ROA)	-28.14%	-30.64%	-29.53%	-25.76%	-10.91%	-7.19%	-5.05%	-11.32%	-12.51%	-4.25%
Return on Common Equity (ROCE)	-106.45%	-389.28%	442.95%	375.43%	-213.57%	-81.70%	-54.98%	-230.36%	305.79%	83.99%
Return on Equity Simple (ROE_SIMPLE)	-168.74%	1,407.26%	262.35%	514.08%	-87.60%	-75.30%	-51.70%	-1,520.09%	142.66%	132.05%
Net Operating Profit after Tax (NOPAT)	-31	-31	-31	-35	-32	-26	-21	-62	-66	-54
NOPAT Margin	-21.05%	-17.08%	-14.92%	-14.26%	-10.67%	-7.53%	-4.64%	-11.55%	-10.50%	-7.25%
Net Nonoperating Expense Percent (NNEP)	-19.75%	-28.42%	-27.18%	-22.21%	-11.72%	-10.65%	-7.80%	-19.69%	-108.43%	-3.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-17.22%	-9.63%	-7.27%
Cost of Revenue to Revenue	27.68%	28.90%	28.98%	26.95%	28.54%	25.65%	23.42%	24.15%	24.48%	23.29%
SG&A Expenses to Revenue	19.77%	18.30%	19.05%	23.05%	16.13%	16.98%	16.76%	18.55%	17.54%	13.94%
R&D to Revenue	34.74%	32.15%	32.80%	33.40%	30.19%	26.98%	26.11%	28.21%	27.43%	26.12%
Operating Expenses to Revenue	102.39%	95.50%	92.33%	93.42%	86.70%	85.10%	83.20%	92.35%	90.53%	87.07%
Earnings before Interest and Taxes (EBIT)	-41	-42	-43	-49	-46	-38	-26	-88	-96	-76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-37	-38	-39	-46	-39	-24	-8.69	-75	-91	-74
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	27.86	0.00	0.00	0.00	36.04	68.70	90.94	737.49	0.00	0.00
Price to Tangible Book Value (P/TBV)	28.87	0.00	0.00	0.00	37.18	70.43	237.13	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.93	3.15	4.32	6.44	6.56	12.56	14.97	8.20	8.71	8.21
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	4.57	2.92	4.04	6.11	5.93	11.92	14.48	8.06	8.65	8.16
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	152.20	233.41	57.11	126.10	128.81	382.61	76.90	68.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	143.60	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.89	-6.75	-1.16	-1.89	5.54	4.76	4.30	59.31	-8.69	-18.67
Long-Term Debt to Equity	0.82	-6.33	-1.09	-1.77	5.54	4.76	0.21	59.31	-8.69	-18.67
Financial Leverage	-1.59	-4.20	4.92	5.14	-6.02	-3.48	-3.21	-3.71	1.36	0.57
Leverage Ratio	3.78	12.70	-15.00	-14.58	19.57	11.36	10.88	20.34	-24.44	-19.74
Compound Leverage Factor	3.97	13.27	-15.44	-14.74	20.15	14.55	16.29	20.61	-31.48	-12.85
Debt to Total Capital	47.19%	117.38%	736.86%	212.08%	84.70%	82.65%	81.13%	98.34%	113.01%	105.66%
Short-Term Debt to Total Capital	3.75%	7.26%	43.93%	14.06%	0.00%	0.00%	77.23%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	43.44%	110.12%	692.93%	198.02%	84.70%	82.65%	3.90%	98.34%	113.01%	105.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	52.81%	-17.38%	-636.86%	-112.08%	15.30%	17.35%	18.87%	1.66%	-13.01%	-5.66%
Debt to EBITDA	-0.62	-0.55	-0.50	-0.40	-7.72	-12.68	-36.12	-4.72	-8.52	-10.47
Net Debt to EBITDA	1.44	1.09	1.45	1.75	4.84	9.27	24.95	1.01	0.41	0.51
Long-Term Debt to EBITDA	-0.57	-0.52	-0.47	-0.38	-7.72	-12.68	-1.74	-4.72	-8.52	-10.47
Debt to NOPAT	-0.75	-0.69	-0.63	-0.53	-9.44	-11.57	-15.27	-5.71	-11.74	-14.53
Net Debt to NOPAT	1.74	1.36	1.84	2.29	5.91	8.46	10.55	1.22	0.56	0.71
Long-Term Debt to NOPAT	-0.69	-0.65	-0.59	-0.49	-9.44	-11.57	-0.73	-5.71	-11.74	-14.53
Altman Z-Score	2.09	0.41	1.04	2.34	2.07	4.22	5.24	2.94	2.54	2.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.16	0.98	0.89	0.93	2.46	2.25	1.02	1.47	2.08	1.77
Quick Ratio	1.10	0.87	0.82	0.86	2.37	2.14	0.94	1.34	1.95	1.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-24	-13	-1.71	-19	12	-0.59	-36	-136	-9.53	-100
Operating Cash Flow to CapEx	-1,171.57%	-545.45%	464.65%	570.41%	996.07%	1,774.85%	1,410.41%	327.76%	3,336.86%	6,434.78%
Free Cash Flow to Firm to Interest Expense	-11.83	-7.06	-0.93	-10.53	2.04	-0.04	-2.60	-22.49	-0.18	-7.81
Operating Cash Flow to Interest Expense	-10.66	-5.53	2.99	3.50	5.13	2.38	3.56	1.88	1.32	6.82
Operating Cash Flow Less CapEx to Interest Expense	-11.57	-6.54	2.35	2.89	4.61	2.25	3.30	1.30	1.28	6.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.94	1.24	1.38	1.26	0.68	0.52	0.59	0.67	0.62	0.57
Accounts Receivable Turnover	10.42	8.81	7.72	5.09	4.62	5.22	5.82	5.56	5.13	5.07
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.20	4.11	5.01	5.97	8.08	11.40	15.24	19.24	24.53	32.04
Accounts Payable Turnover	9.87	17.25	30.82	15.46	13.58	18.22	29.85	25.25	27.11	26.57
Days Sales Outstanding (DSO)	35.02	41.42	47.28	71.75	79.00	69.94	62.77	65.61	71.13	71.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	36.99	21.16	11.84	23.61	26.87	20.04	12.23	14.46	13.46	13.74
Cash Conversion Cycle (CCC)	-1.97	20.26	35.44	48.14	52.13	49.90	50.54	51.16	57.66	58.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-27	-45	-74	-90	-134	-160	-144	-70	-127	-80
Invested Capital Turnover	-6.01	-4.95	-3.50	-2.99	-2.67	-2.40	-2.92	-5.03	-6.41	-7.16
Increase / (Decrease) in Invested Capital	-6.62	-17	-29	-16	-44	-26	16	74	-57	47
Enterprise Value (EV)	663	521	840	1,494	1,766	4,192	6,420	4,336	5,450	6,027
Market Capitalization	717	563	897	1,574	1,954	4,416	6,637	4,412	5,487	6,065
Book Value per Share	$0.63	($0.08)	($0.40)	($0.22)	$1.17	$1.33	$1.43	$0.11	($1.65)	($0.75)
Tangible Book Value per Share	$0.61	($0.10)	($0.43)	($0.25)	$1.13	$1.30	$0.55	($2.51)	($4.15)	($4.80)
Total Capital	49	18	2.66	8.69	354	370	387	361	687	737
Total Debt	23	21	20	18	300	306	314	355	777	778
Total Long-Term Debt	21	20	18	17	300	306	15	355	777	778
Net Debt	-53	-42	-57	-80	-188	-224	-217	-76	-37	-38
Capital Expenditures (CapEx)	1.84	1.90	1.19	1.12	3.10	1.87	3.53	3.46	2.12	1.36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-61	-63	-90	-111	-149	-179	-221	-238	-289	-361
Debt-free Net Working Capital (DFNWC)	16	-0.54	-13	-13	339	351	309	193	524	456
Net Working Capital (NWC)	14	-1.85	-14	-14	339	351	11	193	524	456
Net Nonoperating Expense (NNE)	13	13	13	15	16	22	17	29	61	1.47
Net Nonoperating Obligations (NNO)	-53	-42	-57	-80	-188	-224	-217	-76	-37	-38
Total Depreciation and Amortization (D&A)	4.49	3.97	3.65	3.64	7.12	14	17	13	5.15	1.61
Debt-free, Cash-free Net Working Capital to Revenue	-41.68%	-35.41%	-43.09%	-45.62%	-49.96%	-50.84%	-49.90%	-44.18%	-45.92%	-48.82%
Debt-free Net Working Capital to Revenue	10.75%	-0.30%	-6.20%	-5.37%	113.84%	99.91%	69.76%	35.91%	83.24%	61.71%
Net Working Capital to Revenue	9.50%	-1.03%	-6.76%	-5.87%	113.84%	99.91%	2.39%	35.91%	83.24%	61.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.74)	($1.72)	($2.36)	($0.99)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	51.13M	52.95M	54.10M	55.36M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.74)	($1.72)	($2.36)	($0.99)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	51.13M	52.95M	54.10M	55.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	51.96M	53.10M	54.73M	56.13M
Normalized Net Operating Profit after Tax (NOPAT)	-31	-31	-31	-35	-32	-26	-21	-62	-66	-54
Normalized NOPAT Margin	-21.05%	-17.08%	-14.92%	-14.26%	-10.67%	-7.53%	-4.64%	-11.55%	-10.50%	-7.25%
Pre Tax Income Margin	-29.88%	-24.60%	-21.34%	-20.39%	-15.89%	-13.85%	-8.82%	-16.55%	-19.70%	-6.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-20.44	-22.44	-23.36	-26.97	-7.63	-2.72	-1.86	-14.54	-1.80	-5.91
NOPAT to Interest Expense	-15.10	-16.27	-16.81	-19.08	-5.27	-1.90	-1.47	-10.28	-1.23	-4.16
EBIT Less CapEx to Interest Expense	-21.35	-23.46	-24.01	-27.58	-8.14	-2.86	-2.12	-15.11	-1.84	-6.01
NOPAT Less CapEx to Interest Expense	-16.01	-17.28	-17.45	-19.69	-5.79	-2.03	-1.72	-10.86	-1.27	-4.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-3.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Workiva's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.89%	19.06%	15.82%	17.84%	19.06%	15.89%	16.96%	14.50%	17.35%	19.94%
EBITDA Growth	-7,001.59%	-60.70%	-217.27%	10.47%	44.78%	10.93%	58.81%	-7.76%	-47.24%	-16.46%
EBIT Growth	-600.14%	-19.79%	-175.52%	15.98%	46.50%	28.81%	61.92%	-0.29%	-41.91%	-26.54%
NOPAT Growth	-277.94%	-15.46%	-172.70%	19.52%	48.45%	28.65%	60.97%	-2.03%	-40.30%	-40.61%
Net Income Growth	-352.06%	2.95%	-149.55%	27.55%	-89.52%	69.82%	74.68%	16.08%	69.80%	-110.08%
EPS Growth	-330.77%	3.70%	-145.71%	29.09%	-85.71%	73.08%	75.58%	17.95%	70.19%	-114.29%
Operating Cash Flow Growth	-70.24%	-113.68%	693.70%	199.16%	208.77%	2,019.72%	346.59%	-100.05%	26.12%	80.63%
Free Cash Flow Firm Growth	-949.76%	-246.89%	-201.87%	123.06%	132.62%	160.22%	151.46%	-403.37%	-439.47%	-212.40%
Invested Capital Growth	40.32%	51.32%	41.80%	-66.30%	-43.20%	-80.95%	-72.35%	62.88%	58.98%	37.03%
Revenue Q/Q Growth	0.99%	8.25%	4.44%	3.22%	2.03%	5.36%	5.41%	1.05%	4.57%	7.69%
EBITDA Q/Q Growth	-8.31%	58.46%	-322.65%	52.92%	33.19%	32.99%	-95.43%	-23.18%	8.72%	47.00%
EBIT Q/Q Growth	-5.92%	52.60%	-245.79%	51.60%	32.56%	36.93%	-84.99%	-27.46%	4.58%	43.76%
NOPAT Q/Q Growth	-6.83%	55.92%	-252.80%	51.56%	31.57%	38.98%	-93.00%	-26.61%	5.91%	38.85%
Net Income Q/Q Growth	-2.88%	53.18%	-231.97%	54.69%	-169.10%	92.54%	-178.53%	-50.15%	3.17%	48.12%
EPS Q/Q Growth	-1.82%	53.57%	-230.77%	54.65%	-166.67%	93.27%	-200.00%	-52.38%	3.13%	51.61%
Operating Cash Flow Q/Q Growth	-44.09%	-126.12%	538.72%	367.00%	-42.30%	62.38%	2.06%	-100.06%	135,142.86%	132.57%
Free Cash Flow Firm Q/Q Growth	36.70%	-6.83%	-12.02%	130.44%	-10.47%	97.22%	-4.27%	-279.48%	-0.18%	34.70%
Invested Capital Q/Q Growth	-25.79%	16.56%	-19.85%	-32.21%	-8.31%	-5.44%	-14.15%	71.52%	-19.67%	-61.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.60%	76.11%	74.35%	74.52%	75.75%	77.29%	76.36%	76.80%	76.47%	77.14%
EBITDA Margin	-19.59%	-7.52%	-30.42%	-13.87%	-9.08%	-5.78%	-10.71%	-13.06%	-11.40%	-5.61%
Operating Margin	-22.67%	-9.23%	-31.19%	-14.64%	-9.82%	-5.68%	-10.41%	-13.04%	-11.73%	-6.66%
EBIT Margin	-21.95%	-9.61%	-31.81%	-14.92%	-9.86%	-5.90%	-10.36%	-13.07%	-11.92%	-6.23%
Profit (Net Income) Margin	-22.35%	-9.67%	-30.73%	-13.49%	-35.57%	-2.52%	-6.65%	-9.89%	-9.15%	-4.41%
Tax Burden Percent	101.60%	108.91%	101.28%	104.08%	100.95%	155.23%	106.50%	109.03%	105.98%	139.06%
Interest Burden Percent	100.24%	92.38%	95.36%	86.87%	357.39%	27.48%	60.31%	69.39%	72.44%	50.92%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-282.49%	-230.36%	-908.04%	-2,762.53%	230.29%	305.79%	226.36%	231.22%	61.30%	83.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-14.80%	-6.43%	-22.63%	-10.80%	-6.22%	-3.65%	-6.78%	-8.55%	-6.86%	-3.56%
Return on Assets (ROA)	-15.07%	-6.47%	-21.86%	-9.76%	-22.43%	-1.56%	-4.36%	-6.47%	-5.27%	-2.52%
Return on Common Equity (ROCE)	-282.49%	-230.36%	-908.04%	-2,762.53%	230.29%	305.79%	226.36%	231.22%	61.30%	83.99%
Return on Equity Simple (ROE_SIMPLE)	1,664.28%	0.00%	0.00%	0.00%	120.70%	0.00%	111.91%	115.37%	99.24%	0.00%
Net Operating Profit after Tax (NOPAT)	-21	-9.29	-33	-16	-11	-6.63	-13	-16	-15	-9.32
NOPAT Margin	-15.87%	-6.46%	-21.83%	-10.24%	-6.87%	-3.98%	-7.29%	-9.13%	-8.21%	-4.66%
Net Nonoperating Expense Percent (NNEP)	-5.96%	-3.15%	-10.52%	-5.42%	-107.14%	4.30%	1.52%	-3.61%	-72.29%	1.35%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.58%	-	-	-	-0.97%	-	-	-	-1.27%
Cost of Revenue to Revenue	24.40%	23.89%	25.65%	25.48%	24.25%	22.71%	23.64%	23.20%	23.53%	22.86%
SG&A Expenses to Revenue	20.63%	16.88%	27.97%	15.24%	13.29%	14.32%	13.83%	14.86%	13.77%	13.39%
R&D to Revenue	29.04%	26.48%	30.49%	27.54%	26.39%	25.54%	25.90%	27.27%	26.09%	25.32%
Operating Expenses to Revenue	98.27%	85.34%	105.54%	89.15%	85.57%	82.98%	86.77%	89.85%	88.21%	83.81%
Earnings before Interest and Taxes (EBIT)	-29	-14	-48	-23	-16	-9.84	-18	-23	-22	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-26	-11	-46	-22	-14	-9.63	-19	-23	-21	-11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	737.49	5,847.05	34,571.03	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	7.91	8.20	9.74	9.33	8.96	8.71	6.99	5.90	6.20	8.21
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	7.76	8.06	9.59	9.14	8.95	8.65	6.90	5.96	6.20	8.16
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	182.63	382.61	300.16	151.35	120.00	76.90	50.16	62.94	64.22	68.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	312.08	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-64.60	59.31	381.76	2,262.59	-6.83	-8.69	-9.34	-10.00	-15.31	-18.67
Long-Term Debt to Equity	-64.60	59.31	381.76	2,262.59	-6.83	-8.69	-9.34	-10.00	-15.31	-18.67
Financial Leverage	-4.47	-3.71	-9.73	-23.16	0.71	1.36	1.78	0.96	0.03	0.57
Leverage Ratio	23.60	20.34	60.10	200.67	-16.16	-24.44	-24.35	-26.72	-14.90	-19.74
Compound Leverage Factor	23.66	18.79	57.31	174.33	-57.75	-6.72	-14.68	-18.54	-10.79	-10.05
Debt to Total Capital	101.57%	98.34%	99.74%	99.96%	117.17%	113.01%	111.99%	111.11%	106.99%	105.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	101.57%	98.34%	99.74%	99.96%	117.17%	113.01%	111.99%	111.11%	106.99%	105.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-1.57%	1.66%	0.26%	0.04%	-17.17%	-13.01%	-11.99%	-11.11%	-6.99%	-5.66%
Debt to EBITDA	-4.98	-4.72	-3.33	-3.42	-8.40	-8.52	-12.08	-11.78	-10.69	-10.47
Net Debt to EBITDA	1.10	1.01	0.80	1.07	0.07	0.41	0.95	-0.55	-0.02	0.51
Long-Term Debt to EBITDA	-4.98	-4.72	-3.33	-3.42	-8.40	-8.52	-12.08	-11.78	-10.69	-10.47
Debt to NOPAT	-5.82	-5.71	-4.28	-4.49	-11.27	-11.74	-16.83	-16.72	-15.29	-14.53
Net Debt to NOPAT	1.29	1.22	1.02	1.40	0.09	0.56	1.33	-0.79	-0.03	0.71
Long-Term Debt to NOPAT	-5.82	-5.71	-4.28	-4.49	-11.27	-11.74	-16.83	-16.72	-15.29	-14.53
Altman Z-Score	3.04	3.24	3.87	3.81	2.81	2.77	2.39	1.95	2.09	2.77
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	1.47	1.48	1.46	2.16	2.08	2.14	1.84	1.83	1.77
Quick Ratio	1.38	1.34	1.32	1.31	2.03	1.95	2.00	1.72	1.71	1.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-78	-83	-93	28	25	50	48	-86	-86	-56
Operating Cash Flow to CapEx	474.58%	-102.92%	2,809.60%	4,065.57%	1,674.97%	6,209.69%	12,238.42%	-12.96%	7,780.25%	5,435.11%
Free Cash Flow to Firm to Interest Expense	-51.48	-55.29	-61.97	18.89	0.53	15.62	14.81	-26.54	-26.91	-17.58
Operating Cash Flow to Interest Expense	3.22	-0.84	3.71	17.33	0.32	7.60	7.69	0.00	5.91	13.75
Operating Cash Flow Less CapEx to Interest Expense	2.54	-1.66	3.57	16.90	0.30	7.48	7.62	-0.04	5.83	13.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.67	0.71	0.72	0.63	0.62	0.65	0.65	0.58	0.57
Accounts Receivable Turnover	6.72	5.56	7.17	6.91	6.34	5.13	7.39	6.22	5.59	5.07
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.51	19.24	20.63	22.08	23.25	24.53	26.57	28.46	30.11	32.04
Accounts Payable Turnover	18.21	25.25	18.62	26.07	20.67	27.11	19.29	23.47	17.99	26.57
Days Sales Outstanding (DSO)	54.30	65.61	50.90	52.79	57.59	71.13	49.36	58.67	65.31	71.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	20.04	14.46	19.60	14.00	17.66	13.46	18.93	15.55	20.29	13.74
Cash Conversion Cycle (CCC)	34.26	51.16	31.29	38.79	39.93	57.66	30.43	43.12	45.02	58.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-84	-70	-84	-111	-120	-127	-145	-41	-49	-80
Invested Capital Turnover	-4.59	-5.03	-4.90	-6.56	-5.95	-6.41	-5.74	-8.92	-8.33	-7.16
Increase / (Decrease) in Invested Capital	57	74	60	-44	-36	-57	-61	70	71	47
Enterprise Value (EV)	3,994	4,336	5,353	5,317	5,432	5,450	4,522	4,038	4,372	6,027
Market Capitalization	4,073	4,412	5,438	5,428	5,438	5,487	4,583	4,002	4,371	6,065
Book Value per Share	($0.10)	$0.11	$0.02	$0.00	($2.12)	($1.65)	($1.51)	($1.42)	($0.92)	($0.75)
Tangible Book Value per Share	($2.61)	($2.51)	($2.58)	($2.56)	($4.59)	($4.15)	($3.91)	($5.63)	($5.13)	($4.80)
Total Capital	349	361	356	355	662	687	694	700	727	737
Total Debt	355	355	355	355	776	777	777	777	778	778
Total Long-Term Debt	355	355	355	355	776	777	777	777	778	778
Net Debt	-78	-76	-85	-111	-6.39	-37	-61	37	1.56	-38
Capital Expenditures (CapEx)	1.02	1.23	0.20	0.64	0.90	0.39	0.20	0.11	0.24	0.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-241	-238	-250	-271	-273	-289	-308	-315	-327	-361
Debt-free Net Working Capital (DFNWC)	192	193	189	196	509	524	530	426	450	456
Net Working Capital (NWC)	192	193	189	196	509	524	530	426	450	456
Net Nonoperating Expense (NNE)	8.61	4.61	13	5.03	45	-2.44	-1.11	1.34	1.74	-0.51
Net Nonoperating Obligations (NNO)	-78	-76	-85	-111	-6.39	-37	-61	37	1.56	-38
Total Depreciation and Amortization (D&A)	3.14	3.01	2.10	1.62	1.23	0.21	-0.62	0.02	0.98	1.24
Debt-free, Cash-free Net Working Capital to Revenue	-46.79%	-44.18%	-44.85%	-46.52%	-45.01%	-45.92%	-47.03%	-46.41%	-46.33%	-48.82%
Debt-free Net Working Capital to Revenue	37.31%	35.91%	33.92%	33.61%	83.85%	83.24%	80.86%	62.86%	63.72%	61.71%
Net Working Capital to Revenue	37.31%	35.91%	33.92%	33.61%	83.85%	83.24%	80.86%	62.86%	63.72%	61.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.56)	($0.26)	($0.86)	($0.39)	($1.04)	($0.07)	($0.21)	($0.32)	($0.31)	($0.15)
Adjusted Weighted Average Basic Shares Outstanding	53.08M	52.95M	53.69M	54.01M	54.26M	54.10M	54.92M	55.18M	55.58M	55.36M
Adjusted Diluted Earnings per Share	($0.56)	($0.26)	($0.86)	($0.39)	($1.04)	($0.07)	($0.21)	($0.32)	($0.31)	($0.15)
Adjusted Weighted Average Diluted Shares Outstanding	53.08M	52.95M	53.69M	54.01M	54.26M	54.10M	54.92M	55.18M	55.58M	55.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.55M	53.10M	53.39M	53.66M	54.05M	54.73M	54.82M	55.24M	55.39M	56.13M
Normalized Net Operating Profit after Tax (NOPAT)	-21	-9.29	-33	-16	-11	-6.63	-13	-16	-15	-9.32
Normalized NOPAT Margin	-15.87%	-6.46%	-21.83%	-10.24%	-6.87%	-3.98%	-7.29%	-9.13%	-8.21%	-4.66%
Pre Tax Income Margin	-22.00%	-8.88%	-30.34%	-12.96%	-35.24%	-1.62%	-6.25%	-9.07%	-8.64%	-3.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-19.31	-9.20	-31.83	-15.43	-0.33	-3.07	-5.63	-7.17	-6.92	-3.89
NOPAT to Interest Expense	-13.96	-6.19	-21.84	-10.59	-0.23	-2.07	-3.96	-5.01	-4.77	-2.92
EBIT Less CapEx to Interest Expense	-19.98	-10.02	-31.96	-15.85	-0.35	-3.19	-5.69	-7.20	-6.99	-4.15
NOPAT Less CapEx to Interest Expense	-14.64	-7.01	-21.98	-11.02	-0.25	-2.19	-4.02	-5.04	-4.84	-3.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Workiva's Financials

When does Workiva's financial year end?

According to the most recent income statement we have on file, Workiva's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Workiva's net income changed over the last 9 years?

Workiva's net income appears to be on an upward trend, with a most recent value of -$55.04 million in 2024, rising from -$43.40 million in 2015. The previous period was -$127.53 million in 2023. See where experts think Workiva is headed by visiting Workiva's forecast page.

What is Workiva's operating income?

Workiva's total operating income in 2024 was -$76.53 million, based on the following breakdown:

Total Gross Profit: $566.63 million
Total Operating Expenses: $643.16 million

How has Workiva revenue changed over the last 9 years?

Over the last 9 years, Workiva's total revenue changed from $145.27 million in 2015 to $738.68 million in 2024, a change of 408.5%.

How much debt does Workiva have?

Workiva's total liabilities were at $1.41 billion at the end of 2024, a 7.8% increase from 2023, and a 1,093.3% increase since 2015.

How much cash does Workiva have?

In the past 9 years, Workiva's cash and equivalents has ranged from $51.28 million in 2016 to $381.74 million in 2019, and is currently $301.84 million as of their latest financial filing in 2024.

How has Workiva's book value per share changed over the last 9 years?

Over the last 9 years, Workiva's book value per share changed from 0.63 in 2015 to -0.75 in 2024, a change of -219.3%.

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This page (NYSE:WK) was last updated on 5/3/2025 by MarketBeat.com Staff

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Workiva (WK) Financials

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Workiva (WK) Financials

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