Quarterly ResultMay 5, 2026, 04:14 PM
Workiva Q1 Revenue $247M, Net Income $19M; Repurchases $50M Stock
AI Summary
Workiva Inc. announced strong first-quarter 2026 financial results, with total revenue increasing 20% year-over-year to $247 million and GAAP net income reaching $19 million, a significant improvement from a net loss in the prior year. The company also reported a substantial increase in non-GAAP operating margin to 18.4% and repurchased $50 million worth of Class A common stock under its share repurchase plan. Workiva provided guidance for Q2 and full-year 2026, anticipating continued growth and profitability.
Key Highlights
- Total revenue for Q1 2026 was $247 million, an increase of 20% year-over-year.
- Subscription and support revenue grew 21% to $225 million in Q1 2026.
- GAAP net income was $19 million ($0.33 per share), compared to a $(21) million net loss in Q1 2025.
- Non-GAAP net income was $49 million ($0.77 diluted per share), up from $8 million in Q1 2025.
- Non-GAAP operating margin improved significantly to 18.4% from 2.4% in Q1 2025.
- Workiva repurchased $50 million worth of Class A common stock during Q1 2026.
- The company had 6,665 customers as of March 31, 2026, a net increase of 280 customers.
- Full-year 2026 total revenue guidance is set between $1.037 billion and $1.041 billion.