Workiva’s first quarter results were shaped by robust demand for its cloud reporting platform, with management attributing growth to strong momentum in large enterprise deals and broad-based adoption across multiple solution categories. CEO Julie Iskow pointed to a 38% increase in contracts over $300,000 and a 39% rise in contracts over $500,000, highlighting customer consolidation onto the Workiva platform for compliance and reporting needs. Despite delivering non-GAAP operating margin improvements and notable expansion in subscription revenue, management acknowledged that macroeconomic caution and evolving regulatory requirements continue to influence customer decision-making and platform adoption.
Is now the time to buy WK? Find out in our full research report (it’s free for active Edge members).
Workiva (WK) Q1 CY2026 Highlights:
- Revenue: $247.3 million vs analyst estimates of $245.2 million (19.9% year-on-year growth, 0.9% beat)
- Adjusted EPS: $0.77 vs analyst estimates of $0.65 (17.6% beat)
- Adjusted Operating Income: $45.42 million vs analyst estimates of $38.54 million (18.4% margin, 17.8% beat)
- The company slightly lifted its revenue guidance for the full year to $1.04 billion at the midpoint from $1.04 billion
- Management raised its full-year Adjusted EPS guidance to $2.90 at the midpoint, a 7% increase
- Operating Margin: 6.2%, up from -12% in the same quarter last year
- Annual Recurring Revenue: $901.4 million vs analyst estimates of $897.5 million (21.5% year-on-year growth, in line)
- Billings: $211.4 million at quarter end, up 10.9% year on year
- Market Capitalization: $2.61 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Workiva’s Q1 Earnings Call
- Robert Oliver (Baird): Asked about changes in sales cycles given AI adoption and regulatory demand. CEO Julie Iskow responded that sales cycles have become shorter, noting “enthusiasm from our customers” and a positive impact from recent go-to-market changes.
- Adam Hotchkiss (Goldman Sachs): Inquired about the nature of large IPO deals and whether Workiva is selling more solutions to pre-IPO companies. Iskow explained that deal sizes are increasing, with more multi-solution sales to both private and IPO-ready firms.
- Adam Hotchkiss (Goldman Sachs): Followed up on the potential financial impact if the SEC allows semiannual reporting. Iskow clarified that Workiva’s value proposition and pricing are not tied to filing frequency, minimizing potential downside from such regulatory changes.
- Andrew DeGasperi (BNP Paribas): Questioned whether larger initial deals would affect the relevance of net retention rate (NRR). CFO Barbara Larson said the company’s internal NRR target remains above 110%, while Iskow emphasized ongoing focus on both new customer acquisition and account expansion.
- Steven Enders (Citi): Asked about the impact of AI agent rollouts on gross margin. Larson said current AI compute costs are absorbed in existing infrastructure, so near-term margin pressure is limited, and margin targets remain intact.
Catalysts in Upcoming Quarters
In upcoming quarters, the StockStory team will monitor (1) the pace and breadth of AI agent adoption among enterprise customers, (2) execution of Workiva’s revamped go-to-market strategy for landing multi-solution deals, and (3) the company’s ability to maintain margin expansion amid ongoing investment in product innovation and operational infrastructure. Shifts in regulatory deadlines or reporting requirements could also influence demand and customer purchasing patterns.
Workiva currently trades at $47.77, down from $55.41 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free).
Our Favorite Stocks Right Now
ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively.
Find out which 5 stocks it's flagging for this month - FREE. Get Our Top 5 Growth Stocks for Free HERE.
Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
