Workiva Announces First Quarter 2020 Financial Results
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Workiva (WK) Tops Q1 EPS by 18c, Revenues Beat; Offers 2Q EPS/Revenue Guidance Below Cosnensus
April 30, 2020 4:38 PM EDTWorkiva (NYSE: WK) reported Q1 EPS of $0.03, $0.18 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $85.8 million versus the consensus estimate of $82.31 million.
First Quarter 2020 Financial Highlights
Revenue: Total revenue for the first quarter of 2020 reached $85.8 million, an increase of 22.6% from $70.0 million in the first quarter of 2019. Subscription and support revenue contributed $68.4 million, up 21.8% versus the first quarter of 2019. Professional services revenue was $17.4 million, an increase of 26.0% compared to the same quarter in the prior year.Gross Profit: GAAP gross profit for the first quarter of 2020 was $63.4... More