Workiva Inc (WK) · Nov 5, 2026 · Earnings

Workiva earnings beat revenue guide, lifts operating outlook

Beat — Revenue $263M vs $260M-$262M guide; non-GAAP operating margin 18.3% vs 17.0%-17.5% guide

Workiva earnings modestly beat revenue guidance and showed stronger operating leverage, though a new tax methodology makes EPS comparisons less clean.

Workiva is scaling an AI-powered, audit-ready enterprise platform for finance, reporting, sustainability, risk, and audit teams; the standing story was already strong after Q2, when it was growing revenue near 20%, expanding margins, and positioning to reach its medium-term margin target early. The quarter modestly advances that story. Revenue reached $263.0 million, 17% above last year and just above the prior $260 million-$262 million target, while subscription revenue also grew 17%. The more important operating signal is that non-GAAP operating margin reached 18.3%, above the prior 17.0%-17.5% guide and up from 12.7% a year ago. 〔0〕

Enterprise expansion remains the clearest underlying demand proof. Workiva ended the quarter with 2,853 customers above $100,000 of annual contract value, up 20% year over year, and 708 above $300,000, up 31%. Gross retention held at 97%, while net retention eased one point to 110%, so the business is still expanding inside its customer base but not accelerating on that measure.

The headline EPS comparison is less clean than the operating result. Reported non-GAAP diluted EPS was $0.72 versus $0.46 a year ago, but Workiva changed its non-GAAP tax method to a fixed 22% rate and recast prior periods; published consensus near $0.80 therefore makes the quarter look like an EPS miss, even though the company says the change was not included in its earlier guidance. The business-level evidence is better captured by the margin and cash-flow outperformance than by the raw EPS comparison. 〔1〕

The outlook improves operationally, while the accounting presentation changes. Full-year GAAP operating-margin guidance moved to 6.2%-6.3% from the prior 5.7%-5.8% range, and full-year GAAP diluted EPS moved to $1.31-$1.34 from $1.21-$1.22. The new non-GAAP tax convention lowers the reported full-year non-GAAP EPS range to $2.80-$2.83 from the prior $3.38-$3.39, but that is primarily a comparability reset rather than evidence in this filing of weaker demand or profitability.

Bottom line: This is a modestly positive earnings update: revenue beat the company’s bar, margin execution was better than expected, and large-customer growth stayed healthy. The only significant wrinkle is that a new tax methodology makes the non-GAAP EPS headline look weaker than the underlying operating performance.

Original filing on SEC EDGAR