Workiva Announces Second Quarter 2020 Financial Results
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Workiva (WK) Tops Q2 EPS by 9c, Revenues Beat; Reinstates 3Q & FY20 EPS/Revenue Guidance Above Consensus
August 4, 2020 4:48 PM EDTWorkiva (NYSE: WK) reported Q2 EPS of ($0.06), $0.09 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $83.4 million versus the consensus estimate of $80.64 million.
Second Quarter 2020 Financial Highlights
Revenue: Total revenue for the second quarter of 2020 reached $83.9 million, an increase of 14.1% from $73.5 million in the second quarter of 2019. Subscription and support revenue contributed $70.7 million, up 16.9% versus the second quarter of 2019. Professional services revenue was $13.2 million, an increase of 1.2% compared to the same quarter in the prior year.Gross Profit: GAAP gross profit for the second quarter of 2020 was $61.6... More