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Workiva reports higher revenue, narrows quarterly loss

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Workiva, a cloud provider of connected reporting and compliance services, reported a double-digit increase in revenues for the second quarter, and a smaller net loss compared with a year ago. The Ames-based company exceeded quarterly guidance for revenue and operating results and has raised its full-year earnings guidance, CEO Marty Vanderploeg said in a release. “This past year we improved operational efficiencies, focused our growth strategy and invested in key growth opportunities,” he said. “Based on our success to date, we plan to continue to accelerate investments in expanding across Europe, increasing adoption for global statutory reporting and integrated risk and building more data integrations.” Total revenue for the quarter reached $73.5 million, an increase of 24.3% from $59.1 million in the second quarter of 2018. GAAP net loss for the second quarter of 2019 was $8.3 million, compared with a net loss of $21.8 million for the prior year’s second quarter. 

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