Slide 1: Workiva Inc. Investor Presentation
Workiva Inc. Investor Presentation November 6, 2024
Slide 2: Safe Harbor
Safe Harbor This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including any statements regarding our future results of operations and financial position, our business strategy and plans and our objectives f
Slide 3: Workiva mission: power transparent reporting for a better world
Workiva is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading regulatory, financial, and ESG reporting solutions to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. 2
Slide 4: Workiva is Best Positioned to Capture the Growing Opportunity
Workiva is Best Positioned to Capture the Growing Opportunity OUR CAPABILITIES. OUR ECOSYSTEM. OUR EXPERIENCE. CAPABILITIES Unified Platform Secure, controlled collaboration Financial Reporting Continuous audit and control Sustainability Management Audit ready environment Governance, Risk, Complianc
Slide 5: $35 Billion TAM
$35 Billion $16.4B TAM $10.9B $7.7B Financial Reporting GRC ESG Industry APAC Europe Americas 4
Slide 6: Complexity is only growing.
Complexity is only growing. Frameworks SOX Data Entry Emails Financial ESG & Risk Reporting Assessments Sustainability Meetings Data Version Final Requests PBCs 2.7 Fluxes Audit XBRL Reports Board Shared Slack Deck Drives Policies & Procedures Checklists GRC Phone Controls Calls Testing Evidence Pap
Slide 7: Meet the only platform for assured integrated reporting
Meet the only platform for assured integrated reporting. Built for your most important work. 6
Slide 8: Workiva Platform Solutions
Workiva Platform Solutions Controls Investments SEC/SEDAR Private Company ESG Audit Banking Global Statutory Management Carbon Risk Insurance Capital Markets ESEF Management Policies & Procedures Public Sector Financial Sustainability Governance, Risk, Vertical Connected Reporting Management Complia
Slide 9: How Top Teams Automate Financial Reporting
How Top Teams Automate Financial Reporting Financial Reporting Financial data that’s Stronger business insights Improved job satisfaction trusted & accessible to executives & the board and reduced turnover Source system integrations Real-time information Easy to use and learn Linked data across all
Slide 10: Chosen by the best Accounting & Finance teams
Chosen by the best Accounting & Finance teams More than 6,200 organizations use the Workiva platform across the globe. Discover more here! I can’t imagine what life As an entry is booked into SAP software, we can rerun our chains and data and We have a lot more trust would be like without [Workiva].
Slide 11: Build Risk Resilience with the leading GRC Platform
Audit & Risk Build Risk Resilience with the leading GRC Platform Increase trust Save time and focus Drive smarter, and transparency on value-added work data-driven decisions Workflow & Task Management Powerful Data Linking Risk Heatmaps & Dashboards Role-Based Permissions Automated PBC Requests Buil
Slide 12: Chosen by the best Audit & Risk teams
Chosen by the best Audit & Risk teams More than 6,200 organizations use the Workiva platform. Discover more here! Udo Burger We have one source of truth for our controls, data, I don’t know of any other Manager Business Process Lindsay Rael platform that can do everything Controls, Orion Engineered
Slide 13: A Platform for ESG & Sustainability
ESG & Sustainability A Platform for ESG & Sustainability Drive transformation and Enhance consistency and trust Increase core team efficiency agility with value-added work with a single source of truth with a successful on ramp Real time collaboration Frameworks at your fingertips Support with start
Slide 14: Chosen by the best ESG & Sustainability teams
Chosen by the best ESG & Sustainability teams More than 6,200 organizations use the Workiva platform across the globe. Discover more here! Our leadership really demonstrated that ESG is a top-level priority. Aya Kiy Associate Director, ESG–Legal It’s an end-to-end solution. I didn’t see anyone who c
Slide 15: Platform Account Expansion
PLATFORM Food and beverage Added : ESG reporting + Policy management ACCOUNT company EXPANSION Existing: SEC Reporting + Controls Management + Enterprise Risk Assured Integrated Management Reporting PLATFORM UK based IT Added 5 solutions : Management Reporting + Controls Management + Policy & Proced
Slide 16: Q3 2024 Highlights
Q3 2024 Highlights Subscription Revenue $171M = 19% Q3 '24 Subscription Revenue Growth = 98% $143M Q3 '24 Gross $119M dollar retention = 111% Q3 '24 Net dollar retention with add-ons Q3 '22 Q3 '23 Q3 '24 15
Slide 17: Growth in New Customer Logos
Growth in New Customer Logos 6,237 6000 5,945 5,541 5000 Q3 '22 Q3 '23 Q3 '24 16
Slide 18: Revenue Retention Remains Strong
Revenue Retention Remains Strong 115.0% 110.0% Revenue retention w/add-ons (Net revenue retention) 105.0% 100.0% Revenue retention rate 95.0% (Gross revenue retention) '2 2 '2 2 '2 2 '2 2 '2 3 '2 3 '2 3 '2 3 '2 4 '2 4 '2 4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 17
Slide 19: Growth in Large ACV Customers
Growth in Large ACV Customers > $100k ACV > $300k ACV > $500k ACV 23% 28% 166 1,925 29% 383 1,561 130 296 1,257 214 90 Q3 '22 Q3 '23 Q3 '24 Q3 '22 Q3 '23 Q3 '24 Q3 '22 Q3 '23 Q3 '24 18
Slide 20: Subscription Revenue: Single solution vs Multi
Subscription Revenue : Single solution vs Multi 70% 68% 64% 59% 60% 50% 41% 40% 36% 32% 30% Q3 '22 Q3 '23 Q3 '24 Single Solution Customers Multi-Solution Customers 19
Slide 21: Non-GAAP Operating Model
Non-GAAP Operating Model 2027- Medium 2030 - Long Percentage of Revenue 2022-A 2023 -A 2024 YTD Term Target Term Target Gross margin* 77% 77% 78% ~83% ~85% Research & development* 25% 24% 23% ~19% ~17% Sales & marketing* 42% 41% 43% ~41% ~38% General & administrative* 12% 10% 9% ~7% ~6% Operating Ma
Slide 22: Non-GAAP Reconciliation
Non-GaaP Reconciliation
Slide 23: Reconciliation of GAAP to Non-GAAP as a percentage of revenue
Reconciliation of GAAP to Non-GAAP - presented as a percentage of revenue 2022 2023 2024 - YTD Gross margin 76% 76% 77% Add back: Stock-based compensation 1% 1% 1% Gross margin, non-GAAP 77% 77% 78% Research and development 28% 27% 26% Less: Stock-based compensation 2% 3% 3% Less: Amortization of ac