Workiva Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, with Q4 total revenue reaching $199.9 million, a 20% increase year-over-year. This marked the second consecutive quarter of accelerating growth and surpassed Wall Street's consensus estimates by approximately $4.8 million.
The company reported non-GAAP earnings per share of $0.33 for the fourth quarter, which was in line with analyst expectations. For the full year 2024, Workiva significantly reduced its net loss to $55 million, a 56% improvement from the $127.5 million net loss in 2023, and achieved non-GAAP profitability of $53.5 million, a positive swing from a $22.8 million loss in 2023.
Operational metrics also showed strength, with the net revenue retention rate increasing by 2 percentage points to 112%, and 70% of customers now utilizing at least two of Workiva's products, up from 64% a year ago. The number of customers with annual contract values over $500,000 grew by 32% year-over-year, highlighting strong adoption among larger organizations. Workiva's full-year 2025 sales outlook also exceeded consensus expectations, though BMO Capital lowered its price target to $108 from $120, citing concerns about European sustainability reporting mandates.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.