← Back

Workiva: Workiva's Q4 2025 Earnings: A Strong Finish to a Record Year

Workiva reported a strong Q4 2025, with total revenue growing 20% year-over-year to $239 million, beating guidance by $3 million. Subscription revenue was $219 million, up 21% year-over-year. The company also delivered a non-GAAP operating margin of 19.1%, beating guidance by 160 basis points. Earnings per share (EPS) came in at $0.55, significantly above estimates of $0.38. For the full year 2025, Workiva achieved 20% total revenue growth and 22% subscription revenue growth, well ahead of initial guidance.

WK

USD 61.43

3.66%

A-Score: 4.6/10

Publication date: February 19, 2026

Full Report

Author: Analystock.ai

📋 Highlights
  • Revenue Growth: Q4 total revenue surged 20% YoY to $239M, with subscription revenue up 21% to $219M; full-year revenue grew 20% to $944M.
  • Margin Expansion: Q4 non-GAAP operating margin reached 19.1%, exceeding guidance by 160 bps and improving 1,170 bps YoY; full-year margin hit 9.9%.
  • Customer Expansion: 2,507 contracts over $100K (up 22% YoY), 6,624 customers (319 net adds YoY), with 110% NRR and 96% GRR modeled for 2026.
  • AI Adoption: 30% of customers enabled AI capabilities, driving adoption in financial reporting and GRC solutions, with 150%+ account expansions in key deals.
  • Leadership & Capital: Added 3 C-suite leaders (CRO, CPO, CFO) and 2 board members; $892M cash reserves with $250M share repurchase boost.

Revenue Growth Drivers

The strong revenue growth was driven by broad-based demand across Workiva's AI-powered platform, particularly in the office of the CFO. The company signed several large deals, including a mid-6-figure deal with a global fintech and insurance brokerage firm and a mid-6-figure account expansion deal with a large regional bank and mortgage originator. Workiva's GRC solutions also showed strong momentum, with deals signed with a top 5 Canadian bank and a U.S.-based industrial technology company.

AI Adoption and Innovation

Workiva is seeing increasing adoption of its AI capabilities, with almost 30% of customers enabling AI on their platform. The company is also accelerating the pace of AI product innovation, having launched an AI-powered capability that analyzes queries and manages data directly within the Workiva platform. According to Julie Iskow, "AI is a strong topic of conversation in customer conversations, and it's playing a role in buying decisions, especially with customers who are ready to move in this moment."

Outlook and Valuation

For 2026, Workiva expects total revenue to range from $1.036 billion to $1.04 billion, with subscription revenue growing approximately 19% year-over-year. The company also expects non-GAAP operating margin to range from 15% to 15.5%. Analysts estimate revenue growth at 15.5% for next year. With a current P/S Ratio of 3.9, the market is pricing in moderate growth expectations. The company's ROE of 56.7% and Free Cash Flow Yield of 4.0% are positives, but the negative P/E Ratio and EV/EBITDA indicate that the market is cautious about the company's profitability.

Workiva's A-Score