Slide 1: Investor Presentation
Workiva Inc. Investor Presentation May 1, 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 6,300 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 6,300 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 6,300 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: Q1 2025 Deal Highlights
Q1 2025 Deal Highlights NEW European travel company Purchased Financial Reporting + Global Statutory Reporting + Management Reporting + Policies & LOGO Procedures + Sustainability Reporting Assured Integrated Reporting Six-figure deal, with multiple partners co-selling Purchased 7 solutions Manageme
Slide 16: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights Subscription Revenue (in $M) $186 $155 = 20% Q1 '25 Subscription Revenue Growth $130 = 97% Q1 '25 Gross Retention Rate = 110% Q1 '25 Net Retention Rate Q1 '23 Q1 '24 Q1 '25 15
Slide 17: Growth in Total RPO
Growth in Total RPO Remaining Performance Obligation (in $M) $1,173 26% $932 20% $778 Q1 '23 Q1 '24 Q1 '25 16
Slide 18: Growth in Customer Logos
Growth in Customer Logos 6,385 6,074 6,000 5,754 5,000 Q1 '23 Q1 '24 Q1 '25 17
Slide 19: Retention Rates Remain Strong
Retention Rates Remain Strong 115% 110% Net retention rate 105% 100% 95% Gross retention rate '2 3 '2 3 '2 3 '2 3 '2 4 '2 4 '2 4 '2 4 '2 5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Net retention rate includes revenue from up-selling or cross-selling additional solutions, and pricing changes for existing customers
Slide 20: Growth in Large ACV Customers
Growth in Large ACV Customers > $100k ACV > $300k ACV > $500k ACV 2,079 23% 439 191 32% 1,696 32% 332 145 1,363 247 109 Q1 '23 Q1 '24 Q1 '25 Q1 '23 Q1 '24 Q1 '25 Q1 '23 Q1 '24 Q1 '25 19
Slide 21: Assured Integrated Reporting platform gain momentum
Subscription Revenue From Multi-Solution Customers 69% The value of our Assured Integrated 66% Reporting platform continued to 63% gain momentum with new and existing customers in 2024. Q1 '23 Q1 '24 Q1 '25 Multi Solution Revenue Growth 20
Slide 22: 2025 Guidance Summary
2025 Guidance Summary Q2 2025 Quarterly guidance Comments Total revenue $208M - $210M 17.2% - 18.3% y/y growth reflecting ongoing investment in Non-GAAP operating margin ~ break-even our long-term growth strategy, plus pre-planned events Non-GAAP EPS ~ $0.05 based on diluted shares of 57.6M FY 2025
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: • Operating
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 (at mid-point)
Reconciliation of GAAP to non-GAAP Guidance (at mid-point) Q2 '25 FY '25 GAAP operating margin (14.8)% (8.8)% Add back: Stock-based compensation 13.9% 13.3% Add back: Amortization of acquisition-related intangibles 0.9% 0.8% Non-GAAP operating margin —% 5.3% Figures have been rounded for presentatio