Workiva Inc. · NYSE:WK
Workiva — Q2 2025 Earnings Presentation
27 slides from Workiva's earnings presentation, Jul 31, 2025
Slide 1: Investor Presentation
Workiva Inc. Investor Presentation July 31, 2025
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
Slide 3: 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 Governance, Risk, Compliance Audit ready environment Financial Reporting Secure, controlled collaboration Assured integrated reporting Sustainability Managemen
Slide 4: $35 Billion TAM
$35 Billion TAM $16.4B $10.9B $7.7B Financial Reporting GRC Sustainability Management Industry Vertical APAC Europe Americas 3
Slide 5: $35 Billion TAM
$35 Billion TAM 20% 20% 50% Financial Reporting GRC 10% Sustainability Management Industry Vertical 4
Slide 6: Complexity is only growing.
Complexity is only growing. Frameworks SOX Data Emails Entry Financial Sustainability Reporting Risk Assessments Management Meetings Data Version Final Requests PBCs 2.7 Fluxes Audit XBRL Reports Board Slack Deck Shared Drives Policies & Procedures Checklists GRC Phone Calls Controls Testing Evidenc
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
Financial Reporting How top teams automate financial reporting Financial data that’s Stronger business insights to Improved job satisfaction trusted and accessible executives and the board and reduced turnover Source system integrations Real-time information Easy to use and learn Linked data across
Slide 10: Chosen by the best accounting and finance teams
Chosen by the best accounting and finance teams More than 6,400 organizations use the Workiva platform across the globe. Discover more here! I can’t imagine what As an entry is booked into SAP software, We have a lot Financial reporting, sustainability disclosure, and audit and risk are three life w
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 and risk teams
Chosen by the best audit and risk teams More than 6,400 organizations use the Workiva platform. Discover more here! It is much better to manage the We have one source of truth for testing process in one platform. We Udo Burger our controls, data, and all of our Lindsay Rael Manager Business Process
Slide 13: How top teams tackle sustainability management
Sustainability Management How top teams tackle sustainability management Set strategy and mitigate Unify data, with assurance, Boost team efficiency and risk with actionable insights to promote trust drive measurable outcomes Templates to drive sustainability objectives Automate collection of operat
Slide 14: Chosen by the best sustainability teams
Chosen by the best sustainability teams More than 6,400 organizations use the Workiva platform across the globe. Discover more here! The connectivity we’re able to achieve with Workiva Workiva has had tremendous benefit for us across multiple dimensions. I think the Carbon, Workiva Sustainability, a
Slide 15: Q2 2025 Deal Highlights
Q2 2025 Deal Highlights US-based Fortune Purchased Bank Regulatory Reporting + PLATFORM 500 bank Sustainability Reporting + Workiva Carbon ACCOUNT Seven-figure expansion deal across Financial Reporting, Governance EXPANSION Risk and Compliance, Sustainability. Sourced and delivered by Big 4 Advisory
Slide 16: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Subscription Revenue (in $M) = 23% $198 Q2 '25 Subscription Revenue Growth $161 $137 = 97% Q2 '25 Gross Retention Rate = 114% Q2 '25 Net Retention Rate Q2 '23 Q2 '24 Q2 '25 15
Slide 17: Growth in Total RPO Growth in Customer Logos
Growth in Total RPO Growth in Customer Logos Remaining Performance Obligation (in $M) 6,467 5% $1,237 24% 6,147 $995 5% 22% $817 5,860 Q2 '23 Q2 '24 Q2 '25 Q2 '23 Q2 '24 Q2 '25 16
Slide 18: Retention Rates Remain Strong
Retention Rates Remain Strong 115% 110% Net retention rate 105% 100% 95% Gross retention rate Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 • Net retention rate includes revenue from up-selling or cross-selling additional solutions, and pricing changes for existing customers
Slide 19: Growth in Large ACV Customers
Growth in Large ACV Customers > $100k ACV > $300k ACV > $500k ACV 2,241 208 27% 35% 488 37% 1,768 154 1,470 356 118 272 Q2 '23 Q2 '24 Q2 '25 Q2 '23 Q2 '24 Q2 '25 Q2 '23 Q2 '24 Q2 '25 18
Slide 20: Subscription Revenue From Multi-Solution Customers
Subscription Revenue From Multi-Solution Customers 71% The value of our 67% platform continued to gain momentum with new and 62% existing customers. Q2 '23 Q2 '24 Q2 '25 Multi Solution Revenue Growth 19
Slide 21: Foreign Exchange Rate Fluctuations Impact On Metrics
Foreign Exchange Rate Fluctuations Impact On Metrics Q2 2025 Actual Foreign exchange rate impact on actuals Total revenue growth rate YoY 21% ~ 1 point positive impact Subscription revenue growth rate YoY 23% ~ 1 point positive impact Net retention rate 114% ~ 1 point positive impact Remaining perfo
Slide 22: 2025 Guidance Summary
2025 Guidance Summary Q3 2025 Quarterly guidance Comments Total revenue $218M - $220M 17.4% - 18.5% y/y growth Disciplined approach towards Non-GAAP operating margin 7.0% - 8.0% margin expansion Non-GAAP EPS $0.37 - $0.41 Based on diluted shares of 58.0M FY 2025 Full - Year Guidance Comments Total r
Slide 23: Non-GAAP FY 2025 Model Assumptions
Non-GAAP FY 2025 Model Assumptions For the full year 2025: Revenue assumptions: • Subscription and support revenue is expected to grow 20% y/y at the midpoint. • Professional services is expected to decline y/y as we move low margin services to our Partners. Operating margin assumptions: • Disciplin
Slide 24: Medium- and Long-Term Non-GAAP Operating Model
Medium- and Long-Term Non-GAAP Operating Model 2027 — Medium 2030 — Long Percentage of Revenue 2023—A 2024—A 2025—Guidance Term Target Term Target Gross margin 77% 78% ~83% ~85% Research & development 24% 23% ~19% ~17% Sales & marketing 41% 42% ~41% ~38% General & administrative 10% 9% ~7% ~6% Opera
Slide 25: Non-GAAP Reconciliation
Non-GAAP Reconciliation
Slide 26: Reconciliation of GAAP to non-GAAP, as a % of Revenue
Reconciliation of GAAP to non-GAAP, as a % of Revenue 2023 2024 Gross margin 76% 77% Add back: Stock-based compensation 1% 2% Gross margin, non-GAAP 77% 78% Research and development 27% 26% Less: Stock-based compensation 3% 3% Less: Amortization of acquisition-related intangibles 1% —% Research and
Slide 27: Reconciliation of GAAP to non-GAAP Guidance
Reconciliation of GAAP to non-GAAP Guidance Q3 2025 — Q3 2025 — FY 2025 — FY 2025 — low end high end low end high end GAAP operating margin (7.4)% (6.4)% (7.1)% (6.6)% Add back: Stock-based compensation 13.6% 13.6% 13.3% 13.3% Add back: Amortization of acquisition-related intangibles 0.8% 0.8% 0.8%