WK · Workiva Inc.

Workiva Inc. delivered strong Q1 2026 results, with total revenue reaching $247 million, a 20% increase driven primarily by 21% growth in subscription and support revenue to $225 million. Professional services revenue grew modestly to $22 million. GAAP operating margin improved dramatically to 6.2% from a negative 12.0% in the prior year, while non-GAAP operating margin expanded 1,600 basis points to 18.4%, reflecting significant operating leverage as highlighted by CFO Barbara Larson. This margin expansion, alongside sustained revenue growth, underscores the scalability of Workiva's AI-powered platform for financial reporting, sustainability, and compliance. GAAP net income flipped to $19 million or $0.33 per diluted share from a $21 million loss, with non-GAAP net income rising to $49 million. CEO Julie Iskow emphasized the platform's critical role in an AI-accelerated environment demanding zero tolerance for errors in reporting. Customer metrics remain robust, with 6,665 total customers (up 280 year-over-year), 97% gross retention, 112% net retention, and strong expansion in large contracts: 2,575 customers over $100k ACV (up 24%), 605 over $300k (up 38%), and 265 over $500k (up 39%). The company repurchased $50 million in shares under its expanded program, with $228 million remaining authorized. Balance sheet remains solid with $863 million in cash and equivalents, offsetting $787 million in convertible notes. Guidance signals continued momentum: Q2 revenue $250-252 million, full-year revenue $1.037-1.041 billion, non-GAAP operating margin 16.0-16.5%, and free cash flow margin ~20%, positioning Workiva for profitable growth at scale.