Workiva Q3 revenue up 30% YoY

Workiva Inc. (NYSE: WK) said its total revenue for the quarter ended September 30, 2015 was USD36.3 million, an increase of 29.9 percent from USD27.9 million in the third quarter of 2014.

Subscription and support revenue was USD29.8 million, an increase of 25.9 percent versus results in the third quarter of 2014. Professional services revenue was USD6.4 million, an increase of 52.2 percent compared to the same quarter in the prior year.

GAAP gross profit for the quarter ended September 30, 2015 was USD26.5 million compared with USD19.4 million in the same quarter of the prior year. GAAP gross margin was 73.0 percent in the third quarter of 2015 versus 69.4 percent in the third quarter of 2014. Non-GAAP gross profit for the quarter ended September 30, 2015 was USD26.7 million, an increase of 36.7 percent compared with the prior year´s third quarter, and non-GAAP gross margin was 73.5 percent compared to 69.9 percent in the third quarter of 2014.

GAAP loss from operations for the quarter ended September 30, 2015 was USD14.3 million compared with a loss of USD12.6 million in the prior year´s third quarter. Non-GAAP loss from operations for the quarter ended September 30, 2015 was USD11.2 million, compared with non-GAAP loss from operations of USD11.2 million in the third quarter of 2014.

Workiva created Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. The company employs more than 1,000 people with offices in 15 cities. It is headquartered in Ames, Iowa.