It's not every day that a stock rises by over 30% in a single session. Enterprise software developer Workiva (WK 32.07%) achieved that feat on Friday, with its share price zooming 32% higher on the day thanks to an extremely well-received quarterly earnings report. That rise was all the more impressive given that it was generally a down day for stocks, with the S&P 500 index closing 1.6% underwater.
Meaty growth figures in the second quarter
Workiva's revenue for its second quarter was $215 million, representing a sturdy 21% improvement over the same period of 2024. That number was also notably higher than the average analyst estimate of under $209 million. The bulk of this take was from subscription and support revenue, which climbed 23% higher to $198 million.
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The company also blew past the consensus pundit expectation for non-GAAP (adjusted) net income. That line item rang in at $11 million ($0.19 per share), for a 22% increase over the year-ago result. Analysts had collectively been anticipating only $0.05 per share.
Workiva said that its solutions keep resonating with the customer base. In a statement, CEO Julie Iskow said there was "continued demand for our broad portfolio of solutions and unified platform."
A double beat on guidance, too
If Workiva's guidance is any indication, the company is going to continue marching down that high-growth path. It is modeling revenue of $870 million to $873 million, which tops the consensus analyst estimate of slightly over $866 million. It's also at least 18% above the actual, full-year 2024 result.
As for adjusted profitability, Workiva's forecast for the entirety of 2025 is $1.31 to $1.38 per share. Again, that exceeds both the prognosticator average of $1.04 and is well ahead of the previous year's figure of $0.94.
