Business Wire·May 5, 2026, 4:05 PM ET

Workiva Announces First Quarter 2026 Financial Results

Workiva reported first quarter 2026 total revenue of $247 million, a 20% year-over-year increase from $206 million.
Subscription & support revenue reached $225 million, up 21% year-over-year, while professional services revenue was $22 million.
GAAP operating margin was 6.2%, a significant improvement from (12.0)% in the prior year, while non-GAAP operating margin was 18.4%.
GAAP net income was $19 million compared to a net loss of $21 million in the first quarter of 2025.
Non-GAAP net income was $49 million, up from $8 million in the prior year's first quarter.
The company repurchased $50 million worth of Class A common stock under its share repurchase plan during the quarter.
Workiva had 6,665 customers as of March 31, 2026, with a gross retention rate of 97% & a net retention rate of 112%.
Customers with an annual contract value over $100,000 increased 24% to 2,575, while those over $500,000 rose 39% to 265.
Liquidity as of March 31, 2026, included $863 million in cash, cash equivalents, & marketable securities.
Second quarter 2026 total revenue is guided to be between $250 million & $252 million.
Full year 2026 total revenue is guided to be between $1.037 billion & $1.041 billion.
Full year 2026 non-GAAP operating margin is guided to be between 16.0% & 16.5%.
Full year 2026 non-GAAP net income per diluted share is guided to be between $2.85 & $2.95.
Free cash flow margin for the full year 2026 is expected to be approximately 20%.