Workiva (NYSE: WK) reported Q3 EPS of ($0.10), $0.11 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $60.9 million versus the consensus estimate of $59.84 million.

“We posted strong results in the third quarter of 2018, highlighted by an 18.7% increase in subscription and support revenue,” said Marty Vanderploeg, President and Chief Executive Officer of Workiva. “Operating margin improved significantly in the quarter, and we outperformed our guidance for revenue, operating loss and loss per share."

“With our continual release of new Wdesk capabilities, international market expansion, new use cases and a growing partner ecosystem, we are optimistic about the role we will continue to play in automating and modernizing a wide range of finance, accounting, risk, compliance and management reporting processes,” said Vanderploeg.

"Companies spend millions of dollars on ERP systems but still rely heavily on manual processes to analyze and report performance data. The limitations of these manual processes are driving the need for financial transformation in the office of the CFO,” said Vanderploeg. "The next generation of Wdesk is designed to enable financial transformation by providing end-to-end data assurance throughout the entire reporting process."

GUIDANCE:

Workiva sees FY2018 EPS of ($0.41)-($0.40), versus the consensus of ($0.54). Workiva sees FY2018 revenue of $242.3-242.7 million, versus the consensus of $240.76 million.

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