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Workiva reports net loss, higher revenue

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Workiva Inc. on Tuesday announced a first-quarter net loss of $7.4 million, compared with a net loss of $4.6 million in the previous year’s first quarter. The Ames-based software company reported a 25 percent growth in revenue for the quarter of $35.2 million, beating analysts’ estimates. In April, the company launched a new feature in its Wdesk software product that will allow its clients’ Sarbanes-Oxley compliance teams to digitally embed evidence in internal audit work papers, a feature that should help the company continue to gain market share, CEO Matt Rizai said in a release. For the current quarter ending in June, Workiva expects its results to range from a loss of 25 cents per share to a loss of 24 cents per share, and revenue in the range of $32.8 million to $33.3 million.