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Workiva (WK) Financials

Workiva logo
$50.31 +0.00 (+0.00%)
Closing price 05/22/2026 03:59 PM Eastern
Extended Trading
$50.30 -0.01 (-0.01%)
As of 05/22/2026 05:36 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Workiva

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -43 -44 -44 -50 -47 -48 -38 -91 -128 -55 -26
Consolidated Net Income / (Loss)		 -43 -44 -44 -50 -47 -48 -38 -91 -128 -55 -26
Net Income / (Loss) Continuing Operations		 -43 -44 -44 -50 -47 -48 -38 -91 -128 -55 -26
Total Pre-Tax Income 		-43 -44 -44 -50 -47 -49 -39 -89 -124 -49 -22
Total Operating Income		 -44 -44 -44 -50 -45 -38 -29 -89 -95 -77 -42
Total Gross Profit		 105 127 148 178 213 261 339 408 476 567 694
Total Revenue		 145 179 208 244 298 352 443 538 630 739 885
Operating Revenue		 145 179 208 244 298 352 443 538 630 739 885
Total Cost of Revenue		 40 52 60 66 85 90 104 130 154 172 190
Operating Cost of Revenue		 40 52 60 66 85 90 104 130 154 172 190
Total Operating Expenses		 149 171 192 228 258 299 369 497 570 643 737
Selling, General & Admin Expense		 29 33 40 56 48 60 74 100 111 103 113
Marketing Expense		 70 80 84 90 120 145 179 245 287 347 409
Research & Development Expense		 50 57 68 82 90 95 116 152 173 193 215
Total Other Income / (Expense), net		 0.28 -0.38 -0.06 -0.04 -1.93 -11 -9.75 -0.24 -30 27 20
Interest Expense		 2.03 1.88 1.85 1.83 6.03 14 14 6.04 54 13 13
Interest & Investment Income		 - - 0.59 1.28 4.66 3.28 1.04 4.88 26 39 34
Other Income / (Expense), net		 2.30 1.50 1.20 0.51 -0.56 -0.21 3.23 0.93 -1.81 0.56 -1.35
Income Tax Expense		 -0.01 0.02 0.06 0.25 0.14 -0.29 -1.37 1.95 3.43 5.60 3.75
Basic Earnings per Share		 ($1.09) ($1.08) ($1.07) ($1.15) ($1.03) ($1.00) ($0.74) ($1.72) ($2.36) ($0.99) ($0.47)
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 56.27M
Diluted Earnings per Share		 ($1.09) ($1.08) ($1.07) ($1.15) ($1.03) ($1.00) ($0.74) ($1.72) ($2.36) ($0.99) ($0.47)
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 56.27M
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 56.83M

Quarterly Income Statements for Workiva

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -56 -4.20 -12 -18 -17 -8.82 -21 -19 2.79 12 19
Consolidated Net Income / (Loss)		 -56 -4.20 -12 -18 -17 -8.82 -21 -19 2.79 12 19
Net Income / (Loss) Continuing Operations		 -56 -4.20 -12 -18 -17 -8.82 -21 -19 2.79 12 19
Total Pre-Tax Income 		-56 -2.70 -11 -16 -16 -6.34 -19 -18 2.16 13 21
Total Operating Income		 -16 -9.47 -18 -23 -22 -13 -25 -22 -3.41 7.86 15
Total Gross Profit		 120 129 134 136 142 154 158 166 178 193 199
Total Revenue		 158 167 176 178 186 200 206 215 224 239 247
Operating Revenue		 158 167 176 178 186 200 206 215 224 239 247
Total Cost of Revenue		 38 38 42 41 44 46 48 50 46 46 49
Operating Cost of Revenue		 38 38 42 41 44 46 48 50 46 46 49
Total Operating Expenses		 135 138 152 159 164 168 183 188 181 185 183
Selling, General & Admin Expense		 21 24 24 26 26 27 27 29 29 28 26
Marketing Expense		 73 72 83 85 90 90 102 104 101 102 104
Research & Development Expense		 42 43 45 48 48 51 54 55 51 55 53
Total Other Income / (Expense), net		 -40 6.77 7.31 7.05 5.75 6.98 5.32 4.41 5.57 4.73 5.31
Interest Expense		 47 3.20 3.23 3.24 3.20 3.20 3.20 3.19 3.20 3.19 3.19
Interest & Investment Income		 7.29 10 10 10 9.30 9.31 8.75 8.34 8.44 8.62 8.10
Other Income / (Expense), net		 -0.07 -0.36 0.09 -0.05 -0.35 0.87 -0.23 -0.74 0.32 -0.70 0.40
Income Tax Expense		 0.53 1.49 0.71 1.45 0.96 2.48 1.94 1.67 -0.63 0.77 1.63
Basic Earnings per Share		 ($1.04) ($0.07) ($0.21) ($0.32) ($0.31) ($0.15) ($0.38) ($0.35) $0.05 $0.21 $0.33
Weighted Average Basic Shares Outstanding		 54.26M 54.10M 54.92M 55.18M 55.58M 55.36M 56.16M 56.08M 56.35M 56.27M 56.89M
Diluted Earnings per Share		 ($1.04) ($0.07) ($0.21) ($0.32) ($0.31) ($0.15) ($0.38) ($0.35) $0.05 $0.21 $0.33
Weighted Average Diluted Shares Outstanding		 54.26M 54.10M 54.92M 55.18M 55.58M 55.36M 56.16M 56.08M 58.18M 56.27M 58.44M
Weighted Average Basic & Diluted Shares Outstanding		 54.05M 54.73M 54.82M 55.24M 55.39M 56.13M 55.73M 56.02M 56.13M 56.83M 56.12M

Annual Cash Flow Statements for Workiva

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 -42 -7.47 9.05 17 304 -59 -22 -60 17 46 37
Net Cash From Operating Activities		 -22 -10 5.52 6.40 31 33 50 11 71 88 140
Net Cash From Continuing Operating Activities		 -22 -10 5.52 6.40 31 33 50 11 71 88 140
Net Income / (Loss) Continuing Operations		 -43 -44 -44 -50 -47 -48 -38 -91 -128 -55 -26
Consolidated Net Income / (Loss)		 -43 -44 -44 -50 -47 -48 -38 -91 -128 -55 -26
Depreciation Expense		 4.41 3.82 3.55 3.78 3.84 4.30 5.24 10 11 11 11
Amortization Expense		 0.08 0.15 0.10 -0.14 3.28 9.56 12 2.38 -5.99 -9.39 -2.70
Non-Cash Adjustments To Reconcile Net Income		 9.05 13 17 31 38 50 49 76 146 104 124
Changes in Operating Assets and Liabilities, net		 8.27 16 29 21 33 18 21 14 47 38 34
Net Cash From Investing Activities		 -20 3.81 -6.47 -5.63 -90 -104 -69 -68 -357 -45 -35
Net Cash From Continuing Investing Activities		 -20 3.81 -6.47 -5.63 -90 -104 -69 -68 -357 -45 -35
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 -2.08
Acquisitions		 -0.39 -0.19 -0.20 -0.25 -0.73 -0.30 -38 -99 -0.24 -98 -0.39
Purchase of Investments		 -24 -1.30 -14 -25 -114 -176 -171 -131 -573 -402 -425
Sale and/or Maturity of Investments		 6.52 7.20 9.28 20 27 74 143 166 218 457 393
Net Cash From Financing Activities		 -1.10 -0.90 9.82 17 363 11 -3.39 -1.59 301 6.74 -75
Net Cash From Continuing Financing Activities		 -1.10 -0.90 9.82 17 363 11 -3.39 -1.59 301 6.74 -75
Repayment of Debt		 -2.37 -1.91 -1.59 -1.16 -1.57 -1.64 -1.71 -1.58 -397 0.00 0.00
Repurchase of Common Equity		 -1.35 - - - - - - - 0.00 0.00 -72
Issuance of Debt		 0.30 - 0.00 0.00 336 - 0.00 0.00 691 0.00 0.00
Issuance of Common Equity		 - 0.00 0.00 3.22 4.92 7.23 8.86 9.26 13 14 14
Other Financing Activities, net		 2.69 1.02 11 15 24 5.53 -11 -9.27 -5.49 -7.08 -17
Other Net Changes in Cash		 - -0.01 - - - - - - 1.64 -3.57 6.96
Cash Interest Paid		 2.05 1.84 1.63 1.73 1.34 5.07 4.84 4.74 4.71 10 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 5.49

Quarterly Cash Flow Statements for Workiva

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 206 -148 40 -28 -20 54 -60 42 32 23 -4.51
Net Cash From Operating Activities		 15 24 25 -0.01 19 44 -7.36 50 46 51 26
Net Cash From Continuing Operating Activities		 15 24 25 -0.01 19 44 -7.36 50 46 51 26
Net Income / (Loss) Continuing Operations		 -56 -4.20 -12 -18 -17 -8.82 -21 -19 2.79 12 19
Consolidated Net Income / (Loss)		 -56 -4.20 -12 -18 -17 -8.82 -21 -19 2.79 12 19
Depreciation Expense		 2.69 2.79 2.52 2.56 3.01 2.91 2.89 2.95 2.69 2.46 2.52
Amortization Expense		 -1.46 -2.58 -3.14 -2.55 -2.03 -1.68 -1.09 -0.78 -0.51 -0.33 -0.19
Non-Cash Adjustments To Reconcile Net Income		 66 22 24 27 29 28 29 29 32 34 29
Changes in Operating Assets and Liabilities, net		 4.26 6.06 13 -9.08 6.18 24 -17 38 9.46 3.22 -24
Net Cash From Investing Activities		 -109 -175 17 -26 -50 13 -9.13 -4.28 -10 -11 21
Net Cash From Continuing Investing Activities		 -109 -175 17 -26 -50 13 -9.13 -4.28 -10 -11 21
Purchase of Property, Plant & Equipment		 -0.90 -0.39 -0.20 -0.11 -0.24 -0.81 -0.76 -1.00 -0.09 -0.23 -0.73
Acquisitions		 -0.05 -0.07 -0.03 -98 0.14 -0.07 -0.02 -0.04 -0.05 -0.29 -0.78
Purchase of Investments		 -145 -251 -117 -35 -159 -92 -103 -103 -107 -112 -92
Sale and/or Maturity of Investments		 37 77 134 107 109 106 95 100 97 101 114
Net Cash From Financing Activities		 301 0.98 -1.33 -1.48 8.68 0.87 -45 -8.91 -3.57 -17 -50
Net Cash From Continuing Financing Activities		 301 0.98 -1.33 -1.48 8.68 0.87 -45 -8.91 -3.57 -17 -50
Repayment of Debt		 -397 -0.51 -0.13 -0.13 0.26 -0.53 -0.14 -0.14 -0.14 0.42 -0.15
Repurchase of Common Equity		 - - 0.00 - - - -40 -10 -10 -12 -50
Issuance of Common Equity		 6.97 - 7.11 - 6.71 - 7.54 - 6.16 - 8.05
Other Financing Activities, net		 -0.24 1.49 -8.31 -1.35 1.71 1.41 -12 1.23 0.41 -6.37 -7.93
Effect of Exchange Rate Changes		 -1.24 1.72 -1.11 -0.36 2.39 -4.49 1.89 5.11 -0.82 - -2.30
Cash Interest Paid		 2.16 0.20 4.91 0.20 4.98 0.19 4.98 0.19 4.98 0.19 4.98
Cash Income Taxes Paid		 0.61 0.53 0.95 2.18 1.39 1.68 3.03 2.48 0.68 -0.70 1.92

Annual Balance Sheets for Workiva

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 2025
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 12/31/2025
Total Assets		 144 143 158 231 639 707 787 820 1,219 1,368 1,494
Total Current Assets		 98 98 115 177 571 633 657 600 1,009 1,048 1,162
Cash & Equivalents		 59 51 60 78 382 323 300 240 256 302 339
Short-Term Investments		 17 11 16 21 106 207 230 191 558 515 553
Accounts Receivable		 16 24 30 66 63 72 80 113 133 159 179
Prepaid Expenses		 3.88 9.38 6.44 4.42 6.51 9.05 15 18 24 22 29
Other Current Assets		 1.37 1.86 2.38 8.18 14 22 31 38 39 51 63
Plant, Property, & Equipment, net		 44 43 40 41 32 29 29 27 24 22 21
Total Noncurrent Assets		 1.61 2.51 1.98 12 35 45 101 192 186 298 311
Goodwill		 - - - - - 0.00 35 110 112 197 206
Intangible Assets		 0.90 1.01 1.12 1.27 1.65 1.58 10 28 23 27 22
Other Noncurrent Operating Assets		 0.71 1.50 0.86 11 34 43 56 54 51 74 82
Total Liabilities & Shareholders' Equity		 144 143 158 231 639 707 787 820 1,219 1,368 1,494
Total Liabilities		 118 146 175 241 585 643 714 814 1,308 1,410 1,499
Total Current Liabilities		 84 100 129 192 232 282 646 407 485 592 742
Short-Term Debt		 1.83 1.31 1.17 1.22 - 0.00 299 - - 0.00 71
Accounts Payable		 5.14 0.85 3.06 5.46 7.06 2.84 4.11 6.17 5.20 7.75 8.93
Accrued Expenses		 20 21 20 36 50 68 84 84 98 127 113
Current Deferred Revenue		 57 77 105 149 174 209 258 316 381 458 548
Other Current Liabilities		 - - - - 1.63 1.71 1.58 0.50 0.53 0.56 0.61
Total Noncurrent Liabilities		 34 46 45 49 353 361 67 407 824 818 757
Long-Term Debt		 0.07 0.05 - 0.00 281 289 0.00 340 762 765 696
Capital Lease Obligations		 21 20 18 17 19 17 15 15 14 13 13
Noncurrent Deferred Revenue		 7.60 21 23 25 33 36 34 38 36 30 37
Other Noncurrent Operating Liabilities		 5.34 5.10 4.17 6.89 20 19 18 14 11 9.67 11
Total Equity & Noncontrolling Interests		 26 -3.13 -17 -9.74 54 64 73 5.98 -89 -42 -5.44
Total Preferred & Common Equity		 26 -3.13 -17 -9.74 54 64 73 5.98 -89 -42 -5.44
Preferred Stock		 0.00 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 -5.44
Common Stock		 202 217 248 297 420 479 526 538 563 672 721
Retained Earnings		 -177 -221 -265 -307 -366 -415 -452 -525 -653 -708 -734
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 7.44

Quarterly Balance Sheets for Workiva

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 777 800 831 1,149 1,202 1,243 1,302 1,294 1,346 1,411 1,425
Total Current Assets		 568 585 620 947 997 932 989 974 1,023 1,092 1,108
Cash & Equivalents		 229 195 199 405 296 268 248 242 284 316 334
Short-Term Investments		 204 244 267 378 542 473 528 525 529 541 529
Accounts Receivable		 86 82 90 106 95 128 147 128 131 155 146
Prepaid Expenses		 14 24 25 22 26 21 21 28 25 26 34
Other Current Assets		 35 40 38 37 38 42 45 51 53 55 65
Plant, Property, & Equipment, net		 27 26 25 25 23 22 22 21 21 20 20
Total Noncurrent Assets		 182 189 186 177 182 288 292 298 301 299 297
Goodwill		 103 111 111 109 110 199 202 200 206 206 204
Intangible Assets		 28 27 26 24 21 32 30 26 25 24 22
Other Noncurrent Operating Assets		 51 50 49 44 50 57 59 72 70 69 72
Total Liabilities & Shareholders' Equity		 777 800 831 1,149 1,202 1,243 1,302 1,294 1,346 1,411 1,425
Total Liabilities		 782 799 831 1,263 1,285 1,320 1,353 1,369 1,412 1,448 1,438
Total Current Liabilities		 376 396 424 438 467 506 539 547 662 692 686
Short-Term Debt		 0.00 - - - - - - - 71 71 71
Accounts Payable		 9.67 6.39 5.31 4.91 9.91 8.23 13 15 11 11 11
Accrued Expenses		 85 79 91 94 89 113 111 93 119 120 89
Current Deferred Revenue		 281 310 327 338 367 384 414 439 461 490 514
Other Current Liabilities		 0.61 0.51 0.52 0.53 0.54 0.55 0.56 0.57 0.58 0.59 0.62
Total Noncurrent Liabilities		 406 403 406 825 818 814 814 822 750 756 752
Long-Term Debt		 340 341 341 762 763 764 764 766 695 696 697
Capital Lease Obligations		 15 14 14 14 14 14 14 13 13 13 13
Noncurrent Deferred Revenue		 37 36 40 38 31 28 28 33 32 39 35
Other Noncurrent Operating Liabilities		 14 12 11 11 10 9.08 8.30 10 9.18 8.20 7.07
Total Equity & Noncontrolling Interests		 -5.49 0.93 0.16 -114 -83 -78 -51 -76 -67 -37 -13
Total Preferred & Common Equity		 -5.49 0.93 0.16 -114 -83 -78 -51 -76 -67 -37 -13
Preferred Stock		 0.00 0.00 0.00 0.00 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 -76 -67 -37 -13
Common Stock		 522 576 596 541 585 609 645 655 675 702 700
Retained Earnings		 -511 -571 -592 -648 -664 -682 -699 -729 -748 -746 -715
Accumulated Other Comprehensive Income / (Loss)		 -17 -3.41 -3.41 -6.40 -3.64 -4.73 2.92 -2.11 6.79 6.79 2.54

Annual Metrics And Ratios for Workiva

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 28.91% 22.97% 16.36% 17.55% 21.91% 18.03% 26.08% 21.34% 17.13% 17.24% 19.75%
EBITDA Growth		 -5.61% -3.30% -3.54% -15.65% 14.87% 37.83% 64.03% -766.23% -21.18% 18.45% 52.26%
EBIT Growth		 -5.89% -1.68% -2.44% -14.31% 6.71% 17.32% 31.26% -236.21% -9.68% 21.14% 42.36%
NOPAT Growth		 -13.14% 0.24% -1.66% -12.38% 8.80% 16.75% 22.35% -202.38% -6.49% 19.03% 44.55%
Net Income Growth		 -5.46% -1.33% -1.02% -12.71% 5.18% -1.94% 22.04% -141.05% -40.22% 56.84% 52.46%
EPS Growth		 14.84% 0.92% 0.93% -7.48% 10.43% 2.91% 26.00% -132.43% -37.21% 58.05% 52.53%
Operating Cash Flow Growth		 -516.03% 51.98% 153.24% 15.94% 383.09% 7.52% 49.94% -77.26% 525.33% 23.75% 59.70%
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% 107.03%
Invested Capital Growth		 -31.75% -62.87% -65.49% -21.10% -49.16% -19.34% 9.96% 51.32% -80.95% 37.03% -46.13%
Revenue Q/Q Growth		 7.20% 3.77% 4.07% 4.24% 5.61% 4.01% 6.47% 4.47% 3.76% 4.71% 4.62%
EBITDA Q/Q Growth		 4.95% 6.30% -23.04% 12.23% -11.89% 27.95% -124.41% -5.74% 1.28% -2.18% 36.61%
EBIT Q/Q Growth		 4.78% 6.08% -20.73% 11.64% -16.47% 18.91% -29.34% -2.67% 3.97% -3.56% 30.93%
NOPAT Q/Q Growth		 -0.45% 9.15% -19.62% 12.15% -16.35% 19.28% -27.65% -2.04% 3.87% -5.29% 33.29%
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% 44.08%
EPS Q/Q Growth		 11.38% 6.09% -17.58% 12.21% -18.39% 15.25% -17.46% 0.58% 7.45% -8.79% 43.37%
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% 5.25%
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% -64.96%
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% -2.24%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 72.33% 71.10% 71.02% 73.05% 71.46% 74.35% 76.58% 75.85% 75.52% 76.71% 78.47%
EBITDA Margin		 -25.40% -21.33% -18.98% -18.68% -13.04% -6.87% -1.96% -13.99% -14.47% -10.07% -4.01%
Operating Margin		 -30.07% -24.39% -21.31% -20.38% -15.24% -10.75% -6.62% -16.50% -15.00% -10.36% -4.80%
EBIT Margin		 -28.49% -23.55% -20.74% -20.17% -15.43% -10.81% -5.89% -16.33% -15.29% -10.28% -4.95%
Profit (Net Income) Margin		 -29.87% -24.62% -21.37% -20.49% -15.94% -13.77% -8.51% -16.91% -20.24% -7.45% -2.96%
Tax Burden Percent		 99.98% 100.05% 100.14% 100.50% 100.29% 99.40% 96.50% 102.19% 102.76% 111.33% 116.75%
Interest Burden Percent		 104.89% 104.46% 102.92% 101.11% 102.98% 128.11% 149.66% 101.32% 128.81% 65.08% 51.19%
Effective Tax Rate		 0.00% 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% 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% 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% 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% 111.07%
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% 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% -3.06%
Return on Assets (ROA)		 -28.14% -30.64% -29.53% -25.76% -10.91% -7.19% -5.05% -11.32% -12.51% -4.25% -1.83%
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% 111.07%
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% 0.00%
Net Operating Profit after Tax (NOPAT)		 -31 -31 -31 -35 -32 -26 -21 -62 -66 -54 -30
NOPAT Margin		 -21.05% -17.08% -14.92% -14.26% -10.67% -7.53% -4.64% -11.55% -10.50% -7.25% -3.36%
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% 4.75%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -17.22% -9.63% -7.27% -3.83%
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% 21.53%
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% 12.76%
R&D to Revenue		 34.74% 32.15% 32.80% 33.40% 30.19% 26.98% 26.11% 28.21% 27.43% 26.12% 24.29%
Operating Expenses to Revenue		 102.39% 95.50% 92.33% 93.42% 86.70% 85.10% 83.20% 92.35% 90.53% 87.07% 83.27%
Earnings before Interest and Taxes (EBIT)		 -41 -42 -43 -49 -46 -38 -26 -88 -96 -76 -44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -37 -38 -39 -46 -39 -24 -8.69 -75 -91 -74 -36
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 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 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 5.47
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 0.00
Dividend Yield		 0.00% 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% 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 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 5.35
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 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 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 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 33.77
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 0.00 669.47
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 -143.59
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 -130.52
Financial Leverage		 -1.59 -4.20 4.92 5.14 -6.02 -3.48 -3.21 -3.71 1.36 0.57 3.16
Leverage Ratio		 3.78 12.70 -15.00 -14.58 19.57 11.36 10.88 20.34 -24.44 -19.74 -60.74
Compound Leverage Factor		 3.97 13.27 -15.44 -14.74 20.15 14.55 16.29 20.61 -31.48 -12.85 -31.09
Debt to Total Capital		 47.19% 117.38% 736.86% 212.08% 84.70% 82.65% 81.13% 98.34% 113.01% 105.66% 100.70%
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% 9.17%
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% 91.53%
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% 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% 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% -0.70%
Debt to EBITDA		 -0.62 -0.55 -0.50 -0.40 -7.72 -12.68 -36.12 -4.72 -8.52 -10.47 -21.99
Net Debt to EBITDA		 1.44 1.09 1.45 1.75 4.84 9.27 24.95 1.01 0.41 0.51 3.13
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 -19.99
Debt to NOPAT		 -0.75 -0.69 -0.63 -0.53 -9.44 -11.57 -15.27 -5.71 -11.74 -14.53 -26.27
Net Debt to NOPAT		 1.74 1.36 1.84 2.29 5.91 8.46 10.55 1.22 0.56 0.71 3.74
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 -23.88
Altman Z-Score		 2.09 0.41 1.04 2.34 2.07 4.22 5.24 2.94 2.54 2.61 2.08
Noncontrolling Interest Sharing Ratio		 0.00% 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 1.57
Quick Ratio		 1.10 0.87 0.82 0.86 2.37 2.14 0.94 1.34 1.95 1.65 1.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -24 -13 -1.71 -19 12 -0.59 -36 -136 -9.53 -100 7.07
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% 6,750.36%
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 0.55
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 10.96
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 10.80
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.94 1.24 1.38 1.26 0.68 0.52 0.59 0.67 0.62 0.57 0.62
Accounts Receivable Turnover		 10.42 8.81 7.72 5.09 4.62 5.22 5.82 5.56 5.13 5.07 5.23
Inventory Turnover		 0.00 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 41.75
Accounts Payable Turnover		 9.87 17.25 30.82 15.46 13.58 18.22 29.85 25.25 27.11 26.57 22.83
Days Sales Outstanding (DSO)		 35.02 41.42 47.28 71.75 79.00 69.94 62.77 65.61 71.13 71.96 69.75
Days Inventory Outstanding (DIO)		 0.00 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 15.98
Cash Conversion Cycle (CCC)		 -1.97 20.26 35.44 48.14 52.13 49.90 50.54 51.16 57.66 58.22 53.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -27 -45 -74 -90 -134 -160 -144 -70 -127 -80 -116
Invested Capital Turnover		 -6.01 -4.95 -3.50 -2.99 -2.67 -2.40 -2.92 -5.03 -6.41 -7.16 -9.02
Increase / (Decrease) in Invested Capital		 -6.62 -17 -29 -16 -44 -26 16 74 -57 47 -37
Enterprise Value (EV)		 663 521 840 1,494 1,766 4,192 6,420 4,336 5,450 6,027 4,730
Market Capitalization		 717 563 897 1,574 1,954 4,416 6,637 4,412 5,487 6,065 4,841
Book Value per Share		 $0.63 ($0.08) ($0.40) ($0.22) $1.17 $1.33 $1.43 $0.11 ($1.65) ($0.75) ($0.10)
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) ($4.17)
Total Capital		 49 18 2.66 8.69 354 370 387 361 687 737 775
Total Debt		 23 21 20 18 300 306 314 355 777 778 781
Total Long-Term Debt		 21 20 18 17 300 306 15 355 777 778 709
Net Debt		 -53 -42 -57 -80 -188 -224 -217 -76 -37 -38 -111
Capital Expenditures (CapEx)		 1.84 1.90 1.19 1.12 3.10 1.87 3.53 3.46 2.12 1.36 2.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -61 -63 -90 -111 -149 -179 -221 -238 -289 -361 -400
Debt-free Net Working Capital (DFNWC)		 16 -0.54 -13 -13 339 351 309 193 524 456 492
Net Working Capital (NWC)		 14 -1.85 -14 -14 339 351 11 193 524 456 421
Net Nonoperating Expense (NNE)		 13 13 13 15 16 22 17 29 61 1.47 -3.54
Net Nonoperating Obligations (NNO)		 -53 -42 -57 -80 -188 -224 -217 -76 -37 -38 -111
Total Depreciation and Amortization (D&A)		 4.49 3.97 3.65 3.64 7.12 14 17 13 5.15 1.61 8.29
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% -45.20%
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% 55.60%
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% 47.56%
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) ($0.47)
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 56.27M
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) ($0.47)
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 56.27M
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 $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 56.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -31 -31 -31 -35 -32 -26 -21 -62 -66 -54 -30
Normalized NOPAT Margin		 -21.05% -17.08% -14.92% -14.26% -10.67% -7.53% -4.64% -11.55% -10.50% -7.25% -3.36%
Pre Tax Income Margin		 -29.88% -24.60% -21.34% -20.39% -15.89% -13.85% -8.82% -16.55% -19.70% -6.69% -2.53%
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 -3.43
NOPAT to Interest Expense		 -15.10 -16.27 -16.81 -19.08 -5.27 -1.90 -1.47 -10.28 -1.23 -4.16 -2.33
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 -3.59
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 -2.49
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% 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% -273.71%

Quarterly Metrics And Ratios for Workiva

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 56,834,640.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 56,834,640.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.33
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.06% 15.89% 16.96% 14.50% 17.35% 19.94% 17.43% 21.23% 20.77% 19.53% 19.89%
EBITDA Growth		 44.78% 10.93% 58.81% -7.76% -47.24% -16.46% -23.17% 10.64% 95.71% 182.89% 177.87%
EBIT Growth		 46.50% 28.81% 61.92% -0.29% -41.91% -26.54% -37.29% 1.35% 86.05% 157.53% 162.92%
NOPAT Growth		 48.45% 28.65% 60.97% -2.03% -40.30% -40.61% -35.37% 4.33% 71.20% 179.13% 181.44%
Net Income Growth		 -89.52% 69.82% 74.68% 16.08% 69.80% -110.08% -82.86% -10.55% 116.40% 234.04% 188.89%
EPS Growth		 -85.71% 73.08% 75.58% 17.95% 70.19% -114.29% -80.95% -9.38% 116.13% 240.00% 186.84%
Operating Cash Flow Growth		 208.77% 2,019.72% 346.59% -100.05% 26.12% 80.63% -129.62% 359,464.29% 144.13% 15.90% 459.83%
Free Cash Flow Firm Growth		 132.62% 160.22% 151.46% -403.37% -439.47% -212.40% -304.59% 151.53% 170.06% 178.55% 146.12%
Invested Capital Growth		 -43.20% -80.95% -72.35% 62.88% 58.98% 37.03% 55.78% -145.24% -131.36% -46.13% -48.60%
Revenue Q/Q Growth		 2.03% 5.36% 5.41% 1.05% 4.57% 7.69% 3.20% 4.32% 4.17% 6.59% 3.50%
EBITDA Q/Q Growth		 33.19% 32.99% -95.43% -23.18% 8.72% 47.00% -106.68% 10.63% 95.62% 1,123.57% 94.17%
EBIT Q/Q Growth		 32.56% 36.93% -84.99% -27.46% 4.58% 43.76% -100.70% 8.41% 86.51% 331.97% 119.51%
NOPAT Q/Q Growth		 31.57% 38.98% -93.00% -26.61% 5.91% 38.85% -85.81% 10.52% 71.67% 267.99% 91.23%
Net Income Q/Q Growth		 -169.10% 92.54% -178.53% -50.15% 3.17% 48.12% -142.44% 9.22% 114.36% 324.12% 60.77%
EPS Q/Q Growth		 -166.67% 93.27% -200.00% -52.38% 3.13% 51.61% -153.33% 7.89% 114.29% 320.00% 57.14%
Operating Cash Flow Q/Q Growth		 -42.30% 62.38% 2.06% -100.06% 135,142.86% 132.57% -116.73% 783.76% -8.26% 10.41% -48.05%
Free Cash Flow Firm Q/Q Growth		 -10.47% 97.22% -4.27% -279.48% -0.18% 34.70% -74.24% 145.21% 36.22% -26.79% 2.31%
Invested Capital Q/Q Growth		 -8.31% -5.44% -14.15% 71.52% -19.67% -61.87% 19.83% -57.91% -12.90% -2.24% 18.47%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 75.75% 77.29% 76.36% 76.80% 76.47% 77.14% 76.56% 76.98% 79.31% 80.68% 80.37%
EBITDA Margin		 -9.08% -5.78% -10.71% -13.06% -11.40% -5.61% -11.23% -9.63% -0.41% 3.89% 7.30%
Operating Margin		 -9.82% -5.68% -10.41% -13.04% -11.73% -6.66% -12.00% -10.29% -1.52% 3.29% 6.20%
EBIT Margin		 -9.86% -5.90% -10.36% -13.07% -11.92% -6.23% -12.11% -10.63% -1.38% 3.00% 6.36%
Profit (Net Income) Margin		 -35.57% -2.52% -6.65% -9.89% -9.15% -4.41% -10.36% -9.02% 1.24% 4.95% 7.68%
Tax Burden Percent		 100.95% 155.23% 106.50% 109.03% 105.98% 139.06% 109.98% 109.41% 128.98% 93.87% 92.09%
Interest Burden Percent		 357.39% 27.48% 60.31% 69.39% 72.44% 50.92% 77.78% 77.49% -69.97% 175.79% 131.23%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -28.98% 6.13% 7.91%
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% 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% 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% 0.00%
Return on Equity (ROE)		 230.29% 305.79% 226.36% 231.22% 61.30% 83.99% 81.47% 92.29% 106.68% 111.07% -32.14%
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% 0.00%
Operating Return on Assets (OROA)		 -6.22% -3.65% -6.78% -8.55% -6.86% -3.56% -7.47% -6.63% -0.86% 1.85% 4.33%
Return on Assets (ROA)		 -22.43% -1.56% -4.36% -6.47% -5.27% -2.52% -6.39% -5.62% 0.77% 3.06% 5.23%
Return on Common Equity (ROCE)		 230.29% 305.79% 226.36% 231.22% 61.30% 83.99% 81.47% 92.29% 106.68% 111.07% -32.14%
Return on Equity Simple (ROE_SIMPLE)		 120.70% 0.00% 111.91% 115.37% 99.24% 0.00% 85.46% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -11 -6.63 -13 -16 -15 -9.32 -17 -16 -4.39 7.38 14
NOPAT Margin		 -6.87% -3.98% -7.29% -9.13% -8.21% -4.66% -8.40% -7.20% -1.96% 3.09% 5.71%
Net Nonoperating Expense Percent (NNEP)		 -107.14% 4.30% 1.52% -3.61% -72.29% 1.35% -16.33% 355.96% 19.02% 5.95% 13.86%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.97% - - - -1.27% -2.46% -2.17% -0.59% 0.95% 1.84%
Cost of Revenue to Revenue		 24.25% 22.71% 23.64% 23.20% 23.53% 22.86% 23.44% 23.02% 20.69% 19.32% 19.63%
SG&A Expenses to Revenue		 13.29% 14.32% 13.83% 14.86% 13.77% 13.39% 13.20% 13.44% 12.79% 11.74% 10.53%
R&D to Revenue		 26.39% 25.54% 25.90% 27.27% 26.09% 25.32% 26.07% 25.49% 22.93% 22.94% 21.40%
Operating Expenses to Revenue		 85.57% 82.98% 86.77% 89.85% 88.21% 83.81% 88.56% 87.27% 80.83% 77.39% 74.18%
Earnings before Interest and Taxes (EBIT)		 -16 -9.84 -18 -23 -22 -12 -25 -23 -3.09 7.16 16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -9.63 -19 -23 -21 -11 -23 -21 -0.91 9.29 18
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 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 0.00
Price to Revenue (P/Rev)		 8.96 8.71 6.99 5.90 6.20 8.21 5.54 4.73 5.70 5.47 3.66
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 238.70
Dividend Yield		 0.00% 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% 0.42%
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 0.00
Enterprise Value to Revenue (EV/Rev)		 8.95 8.65 6.90 5.96 6.20 8.16 5.55 4.68 5.61 5.35 3.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 578.09
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 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 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 120.00 76.90 50.16 62.94 64.22 68.72 76.97 35.72 35.65 33.77 19.01
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 312.08 0.00 0.00 0.00 0.00 1,590.88 235.32 669.47 113.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -6.83 -8.69 -9.34 -10.00 -15.31 -18.67 -10.28 -11.71 -21.12 -143.59 -61.91
Long-Term Debt to Equity		 -6.83 -8.69 -9.34 -10.00 -15.31 -18.67 -10.28 -10.65 -19.19 -130.52 -56.27
Financial Leverage		 0.71 1.36 1.78 0.96 0.03 0.57 0.31 -0.02 0.86 3.16 0.80
Leverage Ratio		 -16.16 -24.44 -24.35 -26.72 -14.90 -19.74 -15.71 -17.94 -30.93 -60.74 -30.78
Compound Leverage Factor		 -57.75 -6.72 -14.68 -18.54 -10.79 -10.05 -12.22 -13.90 21.64 -106.77 -40.39
Debt to Total Capital		 117.17% 113.01% 111.99% 111.11% 106.99% 105.66% 110.77% 109.33% 104.97% 100.70% 101.64%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.95% 9.56% 9.17% 9.26%
Long-Term Debt to Total Capital		 117.17% 113.01% 111.99% 111.11% 106.99% 105.66% 110.77% 99.38% 95.41% 91.53% 92.38%
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% 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% 0.00%
Common Equity to Total Capital		 -17.17% -13.01% -11.99% -11.11% -6.99% -5.66% -10.77% -9.33% -4.97% -0.70% -1.64%
Debt to EBITDA		 -8.40 -8.52 -12.08 -11.78 -10.69 -10.47 -9.89 -10.22 -13.92 -21.99 136.54
Net Debt to EBITDA		 0.07 0.41 0.95 -0.55 -0.02 0.51 -0.15 0.45 1.38 3.13 -14.40
Long-Term Debt to EBITDA		 -8.40 -8.52 -12.08 -11.78 -10.69 -10.47 -9.89 -9.29 -12.65 -19.99 124.10
Debt to NOPAT		 -11.27 -11.74 -16.83 -16.72 -15.29 -14.53 -13.41 -13.58 -17.51 -26.27 -409.52
Net Debt to NOPAT		 0.09 0.56 1.33 -0.79 -0.03 0.71 -0.20 0.60 1.73 3.74 43.19
Long-Term Debt to NOPAT		 -11.27 -11.74 -16.83 -16.72 -15.29 -14.53 -13.41 -12.34 -15.91 -23.88 -372.22
Altman Z-Score		 2.81 2.77 2.39 1.95 2.09 2.77 2.00 1.71 2.19 2.20 1.75
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.16 2.08 2.14 1.84 1.83 1.77 1.78 1.54 1.58 1.57 1.62
Quick Ratio		 2.03 1.95 2.00 1.72 1.71 1.65 1.64 1.43 1.46 1.44 1.47
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 25 50 48 -86 -86 -56 -98 44 60 44 45
Operating Cash Flow to CapEx		 1,674.97% 6,209.69% 12,238.42% -12.96% 7,780.25% 5,435.11% -964.35% 5,056.38% 50,719.78% 22,549.56% 3,636.81%
Free Cash Flow to Firm to Interest Expense		 0.53 15.62 14.81 -26.54 -26.91 -17.58 -30.65 13.86 18.88 13.83 14.14
Operating Cash Flow to Interest Expense		 0.32 7.60 7.69 0.00 5.91 13.75 -2.30 15.75 14.45 15.96 8.29
Operating Cash Flow Less CapEx to Interest Expense		 0.30 7.48 7.62 -0.04 5.83 13.50 -2.54 15.44 14.42 15.89 8.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.63 0.62 0.65 0.65 0.58 0.57 0.62 0.62 0.62 0.62 0.68
Accounts Receivable Turnover		 6.34 5.13 7.39 6.22 5.59 5.07 6.90 6.23 5.62 5.23 6.76
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 23.25 24.53 26.57 28.46 30.11 32.04 34.36 37.14 40.17 41.75 44.80
Accounts Payable Turnover		 20.67 27.11 19.29 23.47 17.99 26.57 14.50 19.57 15.60 22.83 15.00
Days Sales Outstanding (DSO)		 57.59 71.13 49.36 58.67 65.31 71.96 52.90 58.63 65.00 69.75 54.02
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 17.66 13.46 18.93 15.55 20.29 13.74 25.17 18.65 23.40 15.98 24.34
Cash Conversion Cycle (CCC)		 39.93 57.66 30.43 43.12 45.02 58.22 27.73 39.98 41.60 53.77 29.68
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -120 -127 -145 -41 -49 -80 -64 -101 -114 -116 -95
Invested Capital Turnover		 -5.95 -6.41 -5.74 -8.92 -8.33 -7.16 -7.38 -11.36 -10.36 -9.02 -11.65
Increase / (Decrease) in Invested Capital		 -36 -57 -61 70 71 47 81 -60 -65 -37 -31
Enterprise Value (EV)		 5,432 5,450 4,522 4,038 4,372 6,027 4,272 3,781 4,745 4,730 3,307
Market Capitalization		 5,438 5,487 4,583 4,002 4,371 6,065 4,261 3,815 4,822 4,841 3,389
Book Value per Share		 ($2.12) ($1.65) ($1.51) ($1.42) ($0.92) ($0.75) ($1.35) ($1.19) ($0.66) ($0.10) ($0.22)
Tangible Book Value per Share		 ($4.59) ($4.15) ($3.91) ($5.63) ($5.13) ($4.80) ($5.37) ($5.34) ($4.76) ($4.17) ($4.19)
Total Capital		 662 687 694 700 727 737 703 713 743 775 768
Total Debt		 776 777 777 777 778 778 779 779 780 781 781
Total Long-Term Debt		 776 777 777 777 778 778 779 708 709 709 710
Net Debt		 -6.39 -37 -61 37 1.56 -38 12 -34 -77 -111 -82
Capital Expenditures (CapEx)		 0.90 0.39 0.20 0.11 0.24 0.81 0.76 1.00 0.09 0.23 0.73
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -273 -289 -308 -315 -327 -361 -340 -382 -386 -400 -370
Debt-free Net Working Capital (DFNWC)		 509 524 530 426 450 456 427 432 471 492 493
Net Working Capital (NWC)		 509 524 530 426 450 456 427 361 400 421 422
Net Nonoperating Expense (NNE)		 45 -2.44 -1.11 1.34 1.74 -0.51 4.05 3.90 -7.18 -4.44 -4.89
Net Nonoperating Obligations (NNO)		 -6.39 -37 -61 37 1.56 -38 12 -34 -77 -111 -82
Total Depreciation and Amortization (D&A)		 1.23 0.21 -0.62 0.02 0.98 1.24 1.81 2.17 2.18 2.13 2.33
Debt-free, Cash-free Net Working Capital to Revenue		 -45.01% -45.92% -47.03% -46.41% -46.33% -48.82% -44.21% -47.32% -45.65% -45.20% -39.99%
Debt-free Net Working Capital to Revenue		 83.85% 83.24% 80.86% 62.86% 63.72% 61.71% 55.50% 53.51% 55.68% 55.60% 53.29%
Net Working Capital to Revenue		 83.85% 83.24% 80.86% 62.86% 63.72% 61.71% 55.50% 44.72% 47.29% 47.56% 45.60%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.04) ($0.07) ($0.21) ($0.32) ($0.31) ($0.15) ($0.38) ($0.35) $0.05 $0.21 $0.33
Adjusted Weighted Average Basic Shares Outstanding		 54.26M 54.10M 54.92M 55.18M 55.58M 55.36M 56.16M 56.08M 56.35M 56.27M 56.89M
Adjusted Diluted Earnings per Share		 ($1.04) ($0.07) ($0.21) ($0.32) ($0.31) ($0.15) ($0.38) ($0.35) $0.05 $0.21 $0.33
Adjusted Weighted Average Diluted Shares Outstanding		 54.26M 54.10M 54.92M 55.18M 55.58M 55.36M 56.16M 56.08M 58.18M 56.27M 58.44M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 54.05M 54.73M 54.82M 55.24M 55.39M 56.13M 55.73M 56.02M 56.13M 56.83M 56.12M
Normalized Net Operating Profit after Tax (NOPAT)		 -11 -6.63 -13 -16 -15 -9.32 -17 -16 -2.38 7.38 14
Normalized NOPAT Margin		 -6.87% -3.98% -7.29% -9.13% -8.21% -4.66% -8.40% -7.20% -1.06% 3.09% 5.71%
Pre Tax Income Margin		 -35.24% -1.62% -6.25% -9.07% -8.64% -3.17% -9.42% -8.24% 0.96% 5.27% 8.34%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.33 -3.07 -5.63 -7.17 -6.92 -3.89 -7.82 -7.16 -0.97 2.24 4.92
NOPAT to Interest Expense		 -0.23 -2.07 -3.96 -5.01 -4.77 -2.92 -5.42 -4.85 -1.37 2.31 4.42
EBIT Less CapEx to Interest Expense		 -0.35 -3.19 -5.69 -7.20 -6.99 -4.15 -8.06 -7.48 -0.99 2.17 4.69
NOPAT Less CapEx to Interest Expense		 -0.25 -2.19 -4.02 -5.04 -4.84 -3.17 -5.66 -5.17 -1.40 2.24 4.19
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% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -273.71% 574.09%

Financials Breakdown Chart

Key Financial Trends

Workiva (NYSE: WK) has delivered a mix of top-line growth and improving cash generation in late 2025, accompanied by continued profitability swings and a leveraged balance sheet. Below are the four most recent quarters (Q1–Q4 2025) summarized for retail investors, with notable trends drawn from the income statements, cash flow statements, and balance sheets you provided.

  • Revenue growth: Q4 2025 revenue reached 238.935 million, up from 199.889 million in Q4 2024, representing roughly 19% year-over-year growth.
  • Strong gross margin: Q4 2025 gross profit was 192.768 million on 238.935 million revenue, about an 80.6% gross margin, indicating ongoing pricing leverage or cost discipline relative to revenue growth.
  • Net income recovery in late 2025: Net income (continuing operations) turned positive in Q3 2025 (about 2.79 million) and rose further in Q4 2025 to about 11.82 million, signaling a shift toward profitability.
  • Solid operating cash flow in Q4 2025: Net cash from continuing operating activities was about 50.96 million, reinforcing cash generation strength as profitability improves.
  • Liquidity cushion: As of the latest period, cash and equivalents were about 315.9 million and short-term investments around 540.9 million, providing a meaningful liquidity buffer to fund growth and working capital needs.
  • Earnings per share (EPS) turned positive in Q4 2025: Basic and diluted EPS were both 0.21, supported by the concentration of earnings across a smaller share base (weighted average basic/diluted shares around 56.3–56.8 million).
  • Operating expenses remain a meaningful portion of revenue: In Q4 2025, total operating expenses were about 184.9 million on 238.9 million revenue (roughly 77% of revenue), indicating ongoing investment in SG&A, marketing, and R&D.
  • Current/deferred revenue backdrop: Current deferred revenue sits at a high level (nearly 490 million in Q4 2025), suggesting a robust revenue recognition base and potential future cash inflows but also signaling ongoing obligations.
  • Profitability volatility in early 2025: Q1 2025 and Q2 2025 reported net losses (approximately -21.9 million and -19.4 million, respectively), highlighting quarterly sensitivity to mix and costs despite rising revenue.
  • Ongoing equity concerns: Total Common Equity remained negative in the latest quarter (illustrative of a substantial accumulated deficit), reflecting a continuing negative book value despite asset growth and improving cash flow.

Bottom line: WK has shown meaningful top-line growth and improving cash generation in late 2025, with profitability turning positive in the last two quarters and strong liquidity. However, the company continues to carry a sizable accumulated deficit and negative equity, and profitability remains uneven across quarters. Investors should monitor whether the positive momentum in late 2025 can be sustained into 2026, and how the company manages investment spending, working capital, and debt-related costs going forward.

05/25/26 11:13 PM ETAI Generated. May Contain Errors.

Workiva Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Workiva's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Workiva's net income appears to be on an upward trend, with a most recent value of -$26.17 million in 2025, falling from -$43.40 million in 2015. The previous period was -$55.04 million in 2024. See where experts think Workiva is headed by visiting Workiva's forecast page.

Workiva's total operating income in 2025 was -$42.44 million, based on the following breakdown:
  • Total Gross Profit: $694.14 million
  • Total Operating Expenses: $736.58 million

Over the last 10 years, Workiva's total revenue changed from $145.27 million in 2015 to $884.57 million in 2025, a change of 508.9%.

Workiva's total liabilities were at $1.50 billion at the end of 2025, a 6.3% increase from 2024, and a 1,168.5% increase since 2015.

In the past 10 years, Workiva's cash and equivalents has ranged from $51.28 million in 2016 to $381.74 million in 2019, and is currently $338.77 million as of their latest financial filing in 2025.

Over the last 10 years, Workiva's book value per share changed from 0.63 in 2015 to -0.10 in 2025, a change of -115.4%.


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Financial statements for NYSE:WK last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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