Workiva Reports EPS of $0.72, Fourth-Quarter Revenue Guidance Below Market Consensus

Key Facts

Workiva reported results for the third quarter ended September 30, 2026, after the market close on November 5, posting non-GAAP diluted EPS of $0.72. The result was $0.08 below analysts’ estimate of $0.80, according to Investing.com. The company also reported year-over-year growth in subscription and support revenue and professional services revenue. Profitability was the report’s leading measure as revenue continued to expand. Workiva also provided guidance for the fourth quarter and full-year 2026, allowing its outlook to be compared with analyst estimates.

Subscription and support revenue was $246 million in the third quarter, up 17% from the same period in 2025, according to Workiva’s statement. This business accounted for the bulk of the revenue cited in the statement, highlighting the company’s reliance on subscriptions and support services. Professional services revenue was $17 million, up 15% year over year. Growth in both businesses reflected an increase in recurring revenue and related services during the period. The CFO said the company expanded its non-GAAP operating margin by 560 basis points year over year.

Workiva ended the quarter with 6,840 customers as of September 30, 2026, a net increase of 299 customers compared with September 30, 2025. This rate measures revenue growth from the existing customer base, including the effect of expanded service use by current customers. Customer count and retention rate offer different indicators of the growth and breadth of the company’s business base. The year-over-year comparison shows that customer count rose, while the retention rate was below its level a year earlier.

Workiva forecast fourth-quarter revenue of $275 million to $278 million and non-GAAP diluted EPS of $0.78 to $0.80. The top end of the revenue range is below the analyst consensus of $278.10 million, according to Investing.com. The available evidence did not give a consensus figure for comparison with the fourth-quarter EPS range. For fiscal 2026, the company set a revenue range of $1.041 billion to $1.044 billion and EPS of $2.80 to $2.83. The annual EPS range compares with analyst consensus of $3.36, according to the same report.

The company changed its methodology for calculating non-GAAP net income beginning in the third quarter, using a fixed long-term tax rate of 22% and recasting comparative periods under the new methodology. The change affects how adjusted profitability figures are read and compared with prior periods. Commenting on the results, the CFO said Workiva "expanded its non-GAAP operating margin by 560 basis points year over year." The company’s shares closed at $85.50 on November 5, 2026, according to Reuters via Investing.com.