Form 8-K

8-K — WORKIVA INC

Accession: 0001445305-26-000059

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0001445305

SIC: 7372 (SERVICES-PREPACKAGED SOFTWARE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — wk-20260804.htm (Primary)

EX-99.1 (q22026exhibit991.htm)

GRAPHIC (workivalogoa.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: wk-20260804.htm · Sequence: 1

wk-20260804

FALSE000144530500014453052026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

August 4, 2026

Date of Report (date of earliest event reported)

___________________________________

WORKIVA INC.

(Exact name of registrant as specified in its charter)

___________________________________

Delaware

(State or other jurisdiction of incorporation or organization)

001-36773

(Commission File Number)

47-2509828

(I.R.S. Employer Identification Number)

2900 University Blvd

Ames, IA 50010

(888) 275-3125

(Address of principal executive offices and zip code)

(888) 275-3125

(Registrant's telephone number, including area code)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Class A common stock, par value $.001 WK New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Section 2 - Financial Information

Item 2.02 - Results of Operations and Financial Condition

On August 4, 2026, Workiva Inc. (the “Company”) issued a press release announcing its results for the quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

The information in this current report on Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Section 9 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits

(d): The following exhibits are being filed herewith:

Exhibit

Number

Description

99.1

Press Release entitled "Workiva Announces Second Quarter 2026 Financial Results" dated August 4, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 4th day of August, 2026.

WORKIVA INC.

By:

/s/ Barbara Larson

Name:

Barbara Larson

Title:

Executive Vice President, Chief Financial Officer, and Treasurer

EX-99.1

Filename: q22026exhibit991.htm · Sequence: 2

Document

Workiva Announces Second Quarter 2026 Financial Results

Fiscal second quarter subscription & support revenue increased by 19%

Total revenue was $255 million, up 19% year-over-year

GAAP operating margin was 4.6%, non-GAAP operating margin was 16.8%

Repurchased $123 million worth of Class A common stock under the 2024 share repurchase plan

NEW YORK - August 4, 2026 – Workiva Inc. (NYSE: WK), a leading, audit-ready platform for trust, transparency, and accountability, today announced financial results for its second quarter ended June 30, 2026.

“Q2 was another quarter marked by strong financial performance and continued proof that Workiva is the platform CFOs trust in the AI era,” said Julie Iskow, President & Chief Executive Officer. “We beat the high end of our revenue guidance with 19% growth in both subscription and total revenue, while rapidly expanding margins. At the same time, we are transforming our platform to be agentic-first where agents will enable customers in advanced solution tiers to accelerate reporting and compliance outcomes with the control and traceability of the Workiva platform.”

“While our pace of innovation has accelerated, we have also maintained our rigorous focus on operational discipline and expanding operating leverage as we scale the business,” said Barbara Larson, Chief Financial Officer. "Our non-GAAP operating margin beat the high end of our guidance by 180 basis points, representing a 1,300 basis point improvement over Q2 of last year. This outperformance has positioned us to achieve our 2027 medium-term operating margin target of 18% a full year ahead of schedule.”

Second Quarter 2026 Financial Results

•Revenue: Total revenue for the second quarter of 2026 reached $255 million, an increase of 19% from $215 million in the second quarter of 2025. Subscription and support revenue contributed $236 million, up 19% versus the second quarter of 2025. Professional services revenue was $19 million, up 12% from the second quarter of 2025.

•Operating Margin: GAAP operating margin for the second quarter of 2026 was 4.6% compared to (10.2)% in the prior year's second quarter. Non-GAAP operating margin was 16.8% compared to 3.8% in the second quarter of 2025.

•GAAP Net Income (Loss): GAAP net income for the second quarter of 2026 was $13 million compared with a net loss of $(19) million for the prior year's second quarter. GAAP net income per basic share and diluted share was $0.24, compared with a net loss per basic and diluted share of $(0.35) in the second quarter of 2025.

•Non-GAAP Net Income: Non-GAAP net income for the second quarter of 2026 was $45 million compared with non-GAAP net income of $11 million in the prior year's second quarter. Non-GAAP net income per basic share and diluted share in the second quarter of 2026 was $0.80 and $0.77, respectively, compared with non-GAAP net income per basic share and diluted share of $0.20 and $0.19, respectively, in the second quarter of 2025.

•Operating Cash Flow and Free Cash Flow: Operating cash flow for the second quarter of 2026 was $78 million compared with $50 million for the prior year's second quarter. Free cash flow for the second quarter of 2026 was $78 million compared with $49 million in the second quarter of 2025.

•Liquidity: As of June 30, 2026, Workiva had cash, cash equivalents, and marketable securities totaling $815 million, compared with $892 million as of December 31, 2025. Workiva had $71 million aggregate

principal amount of 1.125% convertible senior notes due in 2026, $702 million aggregate principal amount of 1.250% convertible senior notes due in 2028, and $14 million of finance lease obligations outstanding as of June 30, 2026.

Key Metrics and Recent Business Highlights

•Customers: Workiva had 6,750 customers as of June 30, 2026, a net increase of 283 customers from June 30, 2025.

•Retention Rate: As of June 30, 2026, Workiva's gross retention rate was 97%, and the net retention rate was 111%. Net retention includes changes in both solutions and pricing for existing customers.

•Large Contracts: As of June 30, 2026, Workiva had 2,690 customers with an annual contract value (“ACV”) of more than $100,000, up 20% from 2,241 customers at June 30, 2025. Workiva had 656 customers with an ACV of more than $300,000, up 34% from 488 customers in the second quarter of 2025. Workiva had 276 customers with an ACV of more than $500,000, up 33% from 208 customers in the second quarter of 2025.

•Share Repurchase Plan: On July 30, 2024, our board of directors authorized a share repurchase plan for up to $100 million of our outstanding Class A common stock. On February 16, 2026, our board of directors modified the repurchase plan to authorize an additional $250 million of the Company’s outstanding Class A common stock for repurchase under the plan. During the second quarter of 2026, Workiva purchased approximately 2.5 million shares for $123 million under the plan. As of June 30, 2026, approximately $106 million remained available under the plan for future share repurchases.

Financial Outlook

As of August 4, 2026, Workiva is providing guidance as follows:

Third Quarter 2026 Guidance:

•Total revenue is expected to be in the range of $260 million to $262 million.

•GAAP operating margin is expected to be in the range of 4.2% to 4.8%.

•Non-GAAP operating margin is expected to be in the range of 17.0% to 17.5%.

•GAAP net income per diluted share is expected to be in the range of $0.21 to $0.25 using 54.6 million shares.

•Non-GAAP net income per diluted share is expected to be in the range of $0.79 to $0.82 using 59.9 million shares.

Full Year 2026 Guidance:

•Total revenue is expected to be in the range of $1.040 billion to $1.044 billion.

•GAAP operating margin is expected to be in the range of 5.7% to 5.8%.

•Non-GAAP operating margin is expected to be approximately 18%.

•GAAP net income per diluted share is expected to be in the range of $1.21 to $1.22 using 55.7 million shares.

•Non-GAAP net income per diluted share is expected to be in the range of $3.38 to $3.39 using 60.9 million shares.

•Free cash flow margin is expected to be approximately 21%.

Quarterly Conference Call

Workiva will host a webcast today at 5:00 p.m. Eastern Time to review the Company’s financial results for the second quarter 2026, in addition to discussing the Company’s outlook for the third quarter and full year 2026. The call can be accessed by dialing 1-833-630-1956 (U.S. domestic) or 1-412-317-1837 (international). Additionally, a live webcast and replay will be available at https://investor.workiva.com/news-events/events.

About Workiva

Workiva Inc. (NYSE: WK) powers trust, transparency, and accountability. Accounting, finance, sustainability, risk and audit teams from more than 6,700 organizations, including over 85% of Fortune 1,000 companies rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready platform. Learn more at workiva.com.

Non-GAAP Financial Measures

The non-GAAP adjustments referenced herein relate to the exclusion of stock-based compensation and amortization of acquisition-related intangible assets. A reconciliation of GAAP to non-GAAP historical financial measures has been provided in Table I at the end of this press release. A reconciliation of GAAP to non-GAAP guidance has been provided in Table II at the end of this press release.

Workiva believes that the use of non-GAAP gross profit, non-GAAP income from operations and non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share, free cash flow and free cash flow margin is helpful to its investors. These measures, which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting principles in the United States, or GAAP. Workiva’s management uses these non-GAAP financial measures as tools for financial and operational decision making and for evaluating Workiva’s own operating results over different periods of time.

Non-GAAP gross profit is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets attributable to cost of revenues from gross profit. Non-GAAP income from operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets from loss from operations. Non-GAAP operating margin is the ratio calculated by dividing non-GAAP income from operations by revenues. Non-GAAP net income is calculated by excluding stock-based compensation expense, net of tax and amortization expense for acquisition-related intangible assets from net income (loss). Non-GAAP net income per share is calculated by dividing non-GAAP net income by non-GAAP weighted- average shares outstanding.

Beginning with the three months and six months ended June 30, 2026, we are adding back interest expense (net of taxes) to the numerator of our non-GAAP diluted earnings per share in accordance with the if-converted method of calculating the dilutive impact of our convertible senior notes. Prior to this change, potentially dilutive shares associated with our convertible senior notes were included in the denominator, but the numerator was not adjusted, as our convertible senior notes had historically been anti-dilutive for GAAP purposes. As the Company has achieved GAAP profitability, our convertible senior notes may now be dilutive, and we are aligning our non-GAAP calculation with the if-converted method used for GAAP diluted EPS. Prior periods have not been recast.

Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, Workiva believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful comparisons between its operating results from period to period. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe they are reflective of ongoing operations.

Free cash flow, a non-GAAP measure, represents cash flow from operating activities less purchase of property and equipment. Free cash flow margin is calculated by dividing free cash flow by total revenue. We consider free cash flow and free cash flow margin to be liquidity measures that provide useful information to investors about the amount of cash generated or used by the business.

Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in Workiva’s industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Workiva’s reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable

future a significant recurring expense in Workiva’s business and an important part of the compensation provided to its employees. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Investors should review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included below, and not rely on any single financial measure to evaluate Workiva’s business.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about the Company’s expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "outlook," "guidance," "target," "goal," "project," "continue to," "confident," or the negative of those terms or other comparable terminology.

Please see the Company’s documents filed or to be filed with the Securities and Exchange Commission, including the Company’s annual reports filed on Form 10-K and quarterly reports on Form 10-Q, and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this report. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

###

Investor Contact:

Media Contact:

Katie White Lauren Covello

Workiva Inc.

investor@workiva.com

press@workiva.com

WORKIVA INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

(unaudited)

Revenue

Subscription and support $ 236,302 $ 198,223 $ 461,657 $ 383,735

Professional services 18,988 16,964 40,939 37,732

Total revenue 255,290 215,187 502,596 421,467

Cost of revenue

Subscription and support (1)

36,742 35,277 71,925 69,339

Professional services (1)

13,281 14,266 26,643 28,546

Total cost of revenue 50,023 49,543 98,568 97,885

Gross profit 205,267 165,644 404,028 323,582

Operating expenses

Research and development (1)

57,497 54,843 110,410 108,623

Sales and marketing (1)

109,017 104,025 213,502 205,696

General and administrative (1)

27,083 28,922 53,125 56,159

Total operating expenses 193,597 187,790 377,037 370,478

Income (loss) from operations 11,670 (22,146) 26,991 (46,896)

Interest income 7,712 8,344 15,815 17,091

Interest expense (3,193) (3,194) (6,387) (6,389)

Other income (expense), net 564 (736) 962 (969)

Income (loss) before provision for income taxes 16,753 (17,732) 37,381 (37,163)

Provision for income taxes 3,311 1,668 4,943 3,608

Net income (loss) $ 13,442 $ (19,400) $ 32,438 $ (40,771)

Net income (loss) per common share:

Basic $ 0.24 $ (0.35) $ 0.59 $ (0.73)

Diluted $ 0.24 $ (0.35) $ 0.58 $ (0.73)

Weighted-average common shares outstanding

Basic 55,638,926 56,076,723 55,259,608 56,133,286

Diluted 56,056,066 56,076,723 55,819,175 56,133,286

(1) Includes stock-based compensation expense as follows:

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

(unaudited)

Cost of revenue

Subscription and support $ 3,087 $ 2,511 $ 5,935 $ 4,944

Professional services 1,241 1,106 2,430 2,102

Operating expenses

Research and development 6,559 6,556 12,960 12,606

Sales and marketing 10,108 9,890 19,955 19,641

General and administrative 8,756 8,404 17,078 17,062

WORKIVA INC.

CONSOLIDATED BALANCE SHEETS

(in thousands)

June 30, 2026 December 31, 2025

(unaudited)

Assets

Current assets

Cash and cash equivalents $ 252,482 $ 338,769

Marketable securities 562,760 552,852

Accounts receivable, net 147,511 168,984

Deferred costs 64,595 62,619

Other receivables 9,892 10,383

Prepaid expenses and other 26,733 28,778

Total current assets 1,063,973 1,162,385

Property and equipment, net 18,970 20,546

Operating lease right-of-use assets 9,700 13,986

Deferred costs, non-current 51,045 59,767

Goodwill 203,599 206,164

Intangible assets, net 19,846 22,270

Other assets 7,318 8,453

Total assets $ 1,374,451 $ 1,493,571

Liabilities and Stockholders’ Deficit

Current liabilities

Accounts payable $ 11,778 $ 8,932

Accrued expenses and other current liabilities 105,063 113,115

Deferred revenue 533,867 547,919

Convertible senior notes, current 71,208 71,072

Finance lease obligations 631 614

Total current liabilities 722,547 741,652

Convertible senior notes, non-current 697,352 696,263

Deferred revenue, non-current 32,429 37,305

Other long-term liabilities 101 92

Operating lease liabilities, non-current 6,195 10,472

Finance lease obligations, non-current 12,903 13,223

Total liabilities 1,471,527 1,499,007

Stockholders’ deficit

Common stock 55 57

Additional paid-in-capital 603,995 720,923

Accumulated deficit (701,414) (733,852)

Accumulated other comprehensive income 288 7,436

Total stockholders’ deficit (97,076) (5,436)

Total liabilities and stockholders’ deficit $ 1,374,451 $ 1,493,571

WORKIVA INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

(unaudited)

Cash flows from operating activities

Net income (loss) $ 13,442 $ (19,400) $ 32,438 $ (40,771)

Adjustments to reconcile net income (loss) to net cash provided by operating activities

Depreciation and amortization 2,925 2,949 5,441 5,842

Stock-based compensation expense 29,751 28,467 58,358 56,355

Recovery of doubtful accounts (82) (357) (200) (345)

Accretion of premiums and discounts on marketable securities, net (741) (1,390) (1,542) (3,085)

Amortization of debt discount and issuance costs 613 611 1,225 1,221

Gain on lease modification — — (307) —

Deferred income tax 7 (13) (262) (77)

Changes in assets and liabilities:

Accounts receivable (9,650) (504) 20,506 30,132

Deferred costs 2,928 (12) 5,806 4,081

Operating lease right-of-use assets 1,200 1,377 2,460 2,706

Other receivables (1,995) (59) 444 935

Prepaid expenses and other 7,202 3,191 1,981 (2,462)

Other assets (144) 1,386 1,089 738

Accounts payable 1,233 (3,755) 3,204 2,896

Deferred revenue 18,086 15,424 (15,169) (3,014)

Operating lease liabilities (989) (1,087) (2,156) (1,918)

Accrued expenses and other liabilities 14,522 23,483 (8,532) (10,281)

Net cash provided by operating activities 78,308 50,311 104,784 42,953

Cash flows from investing activities

Purchase of property and equipment (332) (995) (1,060) (1,758)

Purchase of marketable securities (123,315) (102,985) (214,816) (205,950)

Maturities of marketable securities 89,370 99,738 203,720 194,352

Acquisitions, net of cash acquired — — (750) —

Purchase of intangible assets (24) (41) (50) (60)

Net cash used in investing activities (34,301) (4,283) (12,956) (13,416)

WORKIVA INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

(unaudited)

Cash flows from financing activities

Proceeds from option exercises 322 1,803 1,051 2,434

Taxes paid related to net share settlements of stock-based compensation awards (1,984) (569) (10,646) (13,491)

Proceeds from shares issued in connection with employee stock purchase plan — — 8,052 7,535

Repurchases of Class A common stock (122,684) (10,002) (172,684) (50,120)

Principal payments on finance lease obligations (152) (139) (302) (277)

Net cash used in financing activities (124,498) (8,907) (174,529) (53,919)

Effect of foreign exchange rates on cash (1,287) 5,108 (3,586) 6,997

Net (decrease) increase in cash, cash equivalents, and restricted cash (81,778) 42,229 (86,287) (17,385)

Cash, cash equivalents, and restricted cash at beginning of period 334,972 242,736 339,481 302,350

Cash, cash equivalents, and restricted cash at end of period $ 253,194 $ 284,965 $ 253,194 $ 284,965

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

(unaudited)

Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets

Cash and cash equivalents at end of period

$ 252,482 $ 284,253 $ 252,482 $ 284,253

Restricted cash included within prepaid expenses and other at end of period

712 712 712 712

Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows

$ 253,194 $ 284,965 $ 253,194 $ 284,965

TABLE I

WORKIVA INC.

RECONCILIATION OF NON-GAAP INFORMATION

(in thousands, except share and per share)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

Gross profit, subscription and support $ 199,560 $ 162,946 $ 389,732 $ 314,396

Add back: Stock-based compensation 3,087 2,511 5,935 4,944

Add back: Amortization of acquisition-related intangibles 1,079 939 2,075 1,849

Gross profit, subscription and support, non-GAAP $ 203,726 $ 166,396 $ 397,742 $ 321,189

Gross profit, professional services $ 5,707 $ 2,698 $ 14,296 $ 9,186

Add back: Stock-based compensation 1,241 1,106 2,430 2,102

Gross profit, professional services, non-GAAP $ 6,948 $ 3,804 $ 16,726 $ 11,288

Gross profit $ 205,267 $ 165,644 $ 404,028 $ 323,582

Add back: Stock-based compensation 4,328 3,617 8,365 7,046

Add back: Amortization of acquisition-related intangibles 1,079 939 2,075 1,849

Gross profit, non-GAAP $ 210,674 $ 170,200 $ 414,468 $ 332,477

Cost of revenue, subscription and support $ 36,742 $ 35,277 $ 71,925 $ 69,339

Less: Stock-based compensation 3,087 2,511 5,935 4,944

Less: Amortization of acquisition-related intangibles 1,079 939 2,075 1,849

Cost of revenue, subscription and support, non-GAAP $ 32,576 $ 31,827 $ 63,915 $ 62,546

Cost of revenue, professional services $ 13,281 $ 14,266 $ 26,643 $ 28,546

Less: Stock-based compensation 1,241 1,106 2,430 2,102

Cost of revenue, professional services, non-GAAP $ 12,040 $ 13,160 $ 24,213 $ 26,444

Research and development $ 57,497 $ 54,843 $ 110,410 $ 108,623

Less: Stock-based compensation 6,559 6,556 12,960 12,606

Less: Amortization of acquisition-related intangibles — 495 — 990

Research and development, non-GAAP $ 50,938 $ 47,792 $ 97,450 $ 95,027

Sales and marketing $ 109,017 $ 104,025 $ 213,502 $ 205,696

Less: Stock-based compensation 10,108 9,890 19,955 19,641

Less: Amortization of acquisition-related intangibles 487 478 978 925

Sales and marketing, non-GAAP $ 98,422 $ 93,657 $ 192,569 $ 185,130

General and administrative $ 27,083 $ 28,922 $ 53,125 $ 56,159

Less: Stock-based compensation 8,756 8,404 17,078 17,062

General and administrative, non-GAAP $ 18,327 $ 20,518 $ 36,047 $ 39,097

TABLE I

WORKIVA INC.

RECONCILIATION OF NON-GAAP INFORMATION

(in thousands, except share and per share)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

Income (loss) from operations $ 11,670 $ (22,146) $ 26,991 $ (46,896)

Add back: Stock-based compensation 29,751 28,467 58,358 56,355

Add back: Amortization of acquisition-related intangibles 1,566 1,912 3,053 3,764

Income from operations, non-GAAP

$ 42,987 $ 8,233 $ 88,402 $ 13,223

GAAP operating margin

4.6 % (10.2) % 5.4 % (11.2) %

Non-GAAP operating margin

16.8 % 3.8 % 17.6 % 3.1 %

Net income (loss) $ 13,442 $ (19,400) $ 32,438 $ (40,771)

Add back: Stock-based compensation 29,751 28,467 58,358 56,355

Add back: Amortization of acquisition-related intangibles 1,566 1,912 3,053 3,764

Net income - basic, non-GAAP $ 44,759 $ 10,979 $ 93,849 $ 19,348

Add back: Interest expense, net of taxes(1)

2,893 — 5,785 —

Net income - diluted, non-GAAP $ 47,652 $ 10,979 $ 99,634 $ 19,348

Net income (loss) per basic share $ 0.24 $ (0.35) $ 0.59 $ (0.73)

Net income per basic share, non-GAAP

$ 0.80 $ 0.20 $ 1.70 $ 0.34

Net income (loss) per diluted share $ 0.24 $ (0.35) $ 0.58 $ (0.73)

Net income per diluted share, non-GAAP $ 0.77 $ 0.19 $ 1.61 $ 0.33

Weighted-average common shares outstanding - basic 55,638,926 56,076,723 55,259,608 56,133,286

Weighted-average common shares outstanding - diluted 56,056,066 56,076,723 55,819,175 56,133,286

Effect of potentially dilutive securities, non-GAAP 6,132,025 1,738,597 6,132,025 1,997,835

Weighted-average common shares outstanding - diluted, non-GAAP 62,188,091 57,815,320 61,951,200 58,131,121

Net cash provided by operating activities $ 78,308 50,311 104,784 42,953

Purchase of property and equipment

(332) (995) (1,060) (1,758)

Free cash flow

$ 77,976 $ 49,316 $ 103,724 $ 41,195

Operating cash flow margin

30.7 % 23.4 % 20.8 % 10.2 %

Free cash flow margin

30.5 % 22.9 % 20.6 % 9.8 %

(1) Please refer to the Non-GAAP Financial Measures section for information about the methodology of this calculation as it is different across the periods presented.

TABLE II

WORKIVA INC.

RECONCILIATION OF NON-GAAP GUIDANCE

Three months ending September 30, 2026 Year ending December 31, 2026

GAAP operating margin 4.2 % - 4.8 % 5.7 % - 5.8 %

Add back: Stock-based compensation 12.2 % - 12.1 % 11.7 % - 11.6 %

Add back: Amortization of acquisition-related intangibles 0.6 % - 0.6 % 0.6 % - 0.6 %

Non-GAAP operating margin 17.0 % - 17.5 % 18.0 % - 18.0 %

Net income per diluted share, GAAP $ 0.21 - $ 0.25 $ 1.21 - $ 1.22

Add back: Stock-based compensation 0.58 - 0.58 2.18 - 2.18

Add back: Amortization of acquisition-related intangibles 0.03 - 0.03 0.11 - 0.11

Add back: Interest expense, net of taxes 0.04 - 0.04 0.18 - 0.18

Effect of potentially dilutive securities (0.07) - (0.08) (0.30) - (0.30)

Net income per diluted share, non-GAAP $ 0.79 - $ 0.82 $ 3.38 - $ 3.39

Weighted-average common shares used in calculating GAAP earnings per share, diluted 54,600,000 54,600,000 55,700,000 55,700,000

Weighted-average common shares used in calculating non-GAAP earnings per share, diluted 59,900,000 59,900,000 60,900,000 60,900,000

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