Workiva Inc. announced its financial results for the third quarter ended September 30, 2024, reporting total revenue of $185.6 million, a 17.4% increase year-over-year. This growth marked an acceleration from the 15% growth observed in the second quarter, driven by robust demand across its solution portfolio.
Subscription revenue, a key indicator of the company's core business health, also saw a significant increase, contributing to the overall positive performance. Workiva's management subsequently raised its full-year 2024 revenue forecast by $6 million, projecting a new range of $733 million to $735 million.
Despite the strong revenue performance, the company's non-GAAP profit of $0.21 per share for the quarter missed Wall Street expectations. However, the guidance for the next quarter's revenue was set at approximately $195 million at the midpoint, exceeding analysts' estimates by 1.4%, indicating continued confidence in future sales.
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