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Workiva (WK) Tops Q1 EPS by 5c

May 5, 2015 4:09 PM

Workiva (NYSE: WK) reported Q1 EPS of ($0.13), $0.05 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $35.2 million versus the consensus estimate of $33.85 million.

Workiva sees Q2 2015 EPS of ($0.24)-($0.25), versus the consensus of ($0.25). Workiva sees Q2 2015 revenue of $32.8-33.3 million, versus the consensus of $32.9 million.

Workiva sees FY2015 EPS of ($0.90)-($0.95), versus prior guidance of ($0.92)-($1.00) and the consensus of ($0.95). Workiva sees FY2015 revenue of $140.5-142.5 million, versus prior guidance of $139-142 million and the consensus of $140.55 million.

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We had a strong start to 2015, highlighted by 25% revenue growth in the quarter," said Matt Rizai, Chairman and Chief Executive Officer of Workiva. "Our first quarter revenue beat the high end of our guidance range. Our growth was driven in part by the addition of customers and seats for an increasing number of use cases in our non-SEC markets, including Sarbanes-Oxley compliance, as well as risk and management reporting. We also continued to gain market share in the SEC compliance market."

"In April we launched a new feature in Wdesk, called Evidence Management, which allows SOX teams, for the first time, to digitally embed evidence in internal audit work papers," said Rizai. "Substantiating evidence is a big issue for companies and auditors who are under increased scrutiny of how they document and test internal controls over financial reporting required by SOX. We believe Evidence Management for Wdesk is an important differentiator and will help us continue to gain market share in the SOX compliance market."

For earnings history and earnings-related data on Workiva (WK) click here.

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