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Workiva Q2 Earnings Preview

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Workiva Inc (NYSE: WK) is set to report second-quarter 2018 results on August 7. In Q1, Workiva reported a loss of 9 cents per share and revenues surged 15.4 percent to $59.9 million.

Zacks took a look at what analysts are expecting and investors need to know.

What To Expect

Workiva guided for a non-GAAP net loss in the range of $0.24-$0.25 on total revenues between $55.7 million and $56.2 million.

Workiva continues to focus on developing its flagship product, the Wdesk cloud platform, which is used for collecting, integrating, managing and analyzing business data. It is expected to be a top-line growth driver for the quarter.

The company recently strengthened Wdesk platform by adding data preparation capabilities via Wdata. Wdata merges the company's existing APIs and connectors with the newly data preparation capabilities. This process will aid the customers to enhance, link and capture large datasets to Workiva's Wdesk platform.

Recently, Workiva partnered with Host Analytics, a cloud based provider of enterprise performance management solutions. The companies together launched an API which realigns financial reporting processes. The customers will be able to import financial data from Host Analytics into Wdesk.

Workiva also entered into an original equipment manufacturer ("OEM") agreement with enterprise-application software provider, SAP SE (NYSE: SAP). According to the OEM agreement, Wdesk platform will be incorporated with SAP Cloud Platform Integration.

The company also integrated Wdesk platform with Anaplan's Connected Planning platform to streamline the process of performance management reporting. Partnerships like Anaplan will aid Workiva capitalize on growth opportunities that the rapidly-growing Software-as-a-Service (SaaS) market presents.

Further, Workiva continues to expand existing customer base with its accounting, SOX and compliance software. This expansion in clientele along with a widening partner ecosystem is expected to drive growth.

All these factors are expected to benefit company's top-line in the to-be-reported quarter.

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: contributor contributorsEarnings News Previews Trading Ideas

 

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