WK | Market Cap: $3.1B (07/13/26)
Industry:
Software

DESCRIPTION

Workiva sells cloud-based software to finance, accounting, sustainability, risk, and audit teams at large enterprises. The platform is a unified workspace where customers connect data from source systems, then build, collaborate on, and publish reports and regulatory filings — with a complete audit trail, version control, and linked data so that when a number updates in one place, it flows through every connected document automatically. Over 85% of Fortune 1000 companies use Workiva. The platform covers three core use cases: financial reporting (SEC filings, XBRL tagging, statutory reporting), sustainability management (CSRD, ISSB, carbon accounting), and GRC (SOX controls, internal audit, enterprise risk). Workiva sells subscriptions priced on value metrics — number of entities, controls, and connections — rather than per seat, which the company argues insulates it from AI-driven seat erosion. About 92% of revenue comes from subscriptions, with the remainder from professional services. Workiva sells primarily through a direct enterprise sales force, supported by over 250 partners including Big 4 accounting firms that co-sell and implement the platform. Net retention was ~113% in FY25, driven by existing customers adding solutions over time; 74% of subscription revenue now comes from multi-solution customers. International revenue was ~27% of total in FY25, with Europe a primary growth market driven by CSRD and ESEF regulatory requirements. Workiva is also embedding AI capabilities into premium pricing tiers, with roughly 30% of customers having enabled AI on the platform as of early 2026.

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