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Workiva reports strong first quarter, raises guidance


Ames-based Workiva reported a stronger first quarter this year, leading to a bump up in its projections for this year. Chairman and CEO Matt Rizai said in a call with analysts: “Workiva’s off to a strong start this year. Total revenue for the first quarter was $59.9 million, with subscription and support revenue up 17.5 percent, and professional services revenue up 8.7 percent over Q1 of 2017. We outperformed our guidance for our quarterly revenue, operating loss and loss per share. As a result, we are raising our full-year 2018 guidance.” Rizai reported that the company continues to sign on new customers, and state and local governments are increasing their use of the flagship Wdesk product. Read the transcript of the call.

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