Categories AlphaGraphs, Earnings, Technology

Workiva Q4 revenues rise 18%, beat estimates

Enterprise software company Workiva (WK) Wednesday reported stronger than expected revenues for the fourth quarter. Consequently, the bottom line improved to a greater extent than estimated.

An infographic on Workiva's fourth quarter 2019 earnings results
Workiva Q4 2018 Earnings Infographic

The Ames, Iowa-based company reported flat earnings for the fourth quarter, on an adjusted basis, compared to a loss of $0.19 per share in the same period a year earlier. Market watchers were expecting a loss for the most recent quarter.

On an unadjusted basis, Workiva reported a net loss of $7.71 million or $0.17 per share for the December quarter, marking an improvement from the year-ago quarter when the loss was $14.32 million or $0.34 per share.

A double-digit growth in the key business segments pushed up revenues by 18% to $64.4 million. Analysts were looking for slower growth. Subscription and Support revenue surged 18.1% annually to $53.78 Million, while Professional Services revenue advanced 19% to $10.66 million.

Double-Digit growth in the key business segments pushed up fourth-quarter revenues by 18% to $64.4 million

Workiva’s CEO Marty Vanderploeg said, “We posted strong results for the fourth quarter and full year 2018. Operating margin improved significantly in the quarter, and we outperformed our guidance for revenue, operating loss and loss per share. We remain committed to achieving profitable growth over time.”

As of December 2018, the company had 3,340 customers, which is higher by 9% compared to the corresponding period a year earlier.

Looking ahead, the management expects cash flow from operations to improve significantly in 2019. Revenues are expected to be between $282.5 million and $284.5 million this year, while adjusted loss is forecast in the $0.34- $0.39 per share range. Unadjusted loss is estimated to be between $1.10 per share and $1.15 per share.

Also see: Workiva Q3 2018 Earnings Conference Call Transcript

The company is expected to record an adjusted loss between $0.04 per share and $0.05 per share for the first quarter when revenues are estimated to be in the range of $68.8 million to $69.3 million. Unadjusted loss is forecast to be between $0.22 per share and $0.23 per share.

Workiva’s shares closed Wednesday’s trading up 1.05%, after hitting a record high during the session. Their value of the stock more than doubled in the past twelve months.


We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Snowflake (SNOW) appears to be on solid footing despite cloud slowdown

The cloud computing market witnessed accelerated growth in the last couple of years, as enterprises across the world shifted their digital assets to cloud for ensuring safety and enhancing data

Dollar Tree (DLTR) vs. Dollar General (DG): How did the third quarter turn out for these discount retailers?

In times of high inflation and economic uncertainty, consumers tend to turn to discount retailers in search of more value. The two leading discount retailers Dollar Tree Inc. (NASDAQ: DLTR)

Kroger (KR) looks set to start 2023 with new vigor. Is the stock a buy?

The retail environment has witnessed many changes in customers’ shopping behavior lately, especially after the COVID outbreak. With inflation putting pressure on personal finances, there appears to be a new

Add Comment
Viewing Highlight