Workiva: 2Q Earnings Snapshot
AMES, Iowa (AP) _ Workiva Inc. (WK) on Tuesday reported a loss of $21.8 million in its second quarter.
On a per-share basis, the Ames, Iowa-based company said it had a loss of 50 cents. Losses, adjusted for non-recurring costs and stock option expense, were 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The maker of software for managing regulatory filings posted revenue of $59.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $56.1 million.
For the current quarter ending in October, Workiva expects its results to range from a loss of 22 cents per share to a loss of 21 cents per share.
The company said it expects revenue in the range of $59.5 million to $60 million for the fiscal third quarter.
Workiva expects full-year results to range from a loss of 55 cents per share to a loss of 53 cents per share, with revenue ranging from $240 million to $241 million.
Workiva shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.50, a climb of 31 percent in the last 12 months.