Workiva (WK) Tops Q2 EPS by 14c; Guides

Workiva (NYSE: WK) reported Q2 EPS of ($0.20), $0.14 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $43 million versus the consensus estimate of $42.07 million.

"We posted strong results in the second quarter, highlighted by 27% revenue growth over the same quarter last year," said Matt Rizai, Chairman and Chief Executive Officer of Workiva. "We outperformed our guidance for quarterly revenue, operating loss and loss per share."

"We continue to sign new Wdesk customers as well as add seats at existing customers for a growing number of use cases that should position us well for the second half of 2016," said Rizai.

"We are making good progress on our path to positive operating cash flow," said Rizai. "We expect annual cash usage from operations to improve for the full year 2016, as compared to full year 2015. We also expect annual cash usage from operations to improve further in 2017."

GUIDANCE:

Workiva sees Q3 2016 EPS of ($0.34)-($0.35), versus the consensus of ($0.36). Workiva sees Q3 2016 revenue of $44.5-45 million, versus the consensus of $44.89 million.

Workiva sees FY2016 EPS of ($0.96)-($0.99), versus the consensus of ($1.15). Workiva sees FY2016 revenue of $180.5-181.5 million, versus the consensus of $180.53 million.

For earnings history and earnings-related data on Workiva (WK) click here.

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