Workiva Inc. (WK): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des rapports financiers d'entreprise, Workiva Inc. (WK) apparaît comme une force transformatrice, révolutionnant la façon dont les organisations gèrent, collaborent et rationalisent des données financières complexes. En tirant parti des technologies de pointe basées sur le cloud et des solutions logicielles innovantes, Workiva a conçu un modèle commercial unique qui relève des défis critiques auxquels sont confrontés les départements financiers, les cabinets comptables et les organisations de conformité réglementaire. Leur plate-forme complète simplifie non seulement les processus de rapport, mais introduit également des niveaux d'efficacité, de précision et de collaboration en temps réel qui remodèlent le paysage de la technologie financière.

Workiva Inc. (WK) - Modèle d'entreprise: partenariats clés

Fournisseurs de services cloud

Workiva maintient des partenariats stratégiques avec les principaux fournisseurs d'infrastructures cloud:

Fournisseur de cloud	Détails du partenariat	Dépenses en nuage annuelles
Amazon Web Services (AWS)	Partenaire d'infrastructure cloud primaire	14,3 millions de dollars en 2023
Microsoft Azure	Support d'infrastructure cloud secondaire	3,7 millions de dollars en 2023

Partenaires d'intégration de logiciels d'entreprise

Workiva collabore avec plusieurs partenaires d'intégration de logiciels d'entreprise:

• SÈVE
• Oracle
• Salesforce
• Tableau

Cabinets de comptabilité et d'audit

Entreprise partenaire	Type de partenariat	Revenus collaboratifs annuels
Deloitte	Partenaire d'intégration stratégique	8,2 millions de dollars en 2023
PricewaterhouseCoopers (PWC)	Partenaire de mise en œuvre de la plate-forme	6,5 millions de dollars en 2023
Ernst & Jeune (ey)	Collaboration technologique	5,9 millions de dollars en 2023

Entreprises de conseil et de technologie financières

Les partenariats clés de la technologie financière et du conseil comprennent:

• Bloomberg
• Thomson Reuters
• Moody's Analytics
• S&P Global

Organisations de services professionnels

Organisation	Portée du partenariat	Valeur d'engagement collaborative
Kpmg	Services de mise en œuvre de la technologie	7,6 millions de dollars en 2023
Accentuation	Conseil de transformation numérique	5,4 millions de dollars en 2023

Workiva Inc. (WK) - Modèle d'entreprise: activités clés

Développement de logiciels pour les plateformes d'information financière

Au quatrième trimestre 2023, Workiva a investi 54,3 millions de dollars dans les frais de recherche et de développement. La société maintient une équipe d'ingénierie logicielle d'environ 650 professionnels dédiés au développement de la plate-forme.

Métrique de développement	2023 statistiques
Dépenses totales de R&D	54,3 millions de dollars
Taille de l'équipe d'ingénierie logicielle	650 professionnels
Cycles de libération de logiciels annuels	4-6 mises à jour majeures

Solutions de gestion des données et de conformité basées sur le cloud

L'infrastructure cloud de Workiva prend en charge plus de 3 800 clients d'entreprise dans plusieurs secteurs, avec 95% des entreprises du Fortune 500 utilisant leur plate-forme.

• Total des clients d'entreprise: 3 800+
• Certifications de conformité à la plate-forme: SOC 2, ISO 27001
• Investissement annuel des infrastructures cloud: 22,7 millions de dollars

Innovation continue des produits et amélioration des fonctionnalités

En 2023, Workiva a introduit 37 nouvelles fonctionnalités de plate-forme, en se concentrant sur les capacités de rapports et d'automatisation axées sur l'IA.

Métrique d'innovation	2023 données
Nouvelles fonctionnalités de plate-forme	37
Implémentations des fonctionnalités dirigées par AI	12
Demandes de brevet déposées	8

Services de support client et de mise en œuvre

Workiva maintient une équipe de réussite client dédiée à 425 professionnels, atteignant un taux de rétention de clientèle de 94% en 2023.

• Taille de l'équipe du succès du client: 425
• Taux de rétention de la clientèle: 94%
• Temps d'embarquement moyen du client: 45 jours

Recherche et développement d'outils de rapports axés sur l'IA

La société a alloué 68,5 millions de dollars spécifiquement à l'IA et à la recherche sur l'apprentissage automatique au cours de l'exercice 2023.

Métrique de R&D AI	2023 Investissement
Dépenses totales de R&D AI	68,5 millions de dollars
Personnel de recherche sur l'IA	127 spécialistes
Intégrations de produits compatibles AI	6 nouvelles solutions

Workiva Inc. (WK) - Modèle d'entreprise: Ressources clés

Logiciel de rapport d'entreprise basé sur le cloud propriétaire

La plate-forme WDESK de Workiva a généré 496,7 millions de dollars de revenus en 2023. Le logiciel prend en charge l'information financière pour plus de 75% des entreprises du Fortune 500.

Capacité logicielle	Métrique
Total des clients cloud	5,900+
Revenus récurrents annuels (ARR)	608,4 millions de dollars

Technologie qualifiée et travail de génie logiciel

Au quatrième trimestre 2023, Workiva employait 2 100 employés au total.

• Travail d'ingénierie: environ 45% du total des employés
• Compétences techniques avancées en cloud computing et intégration des données
• Tiration moyenne des employés: 4,2 ans

Portefeuille de propriété intellectuelle

Workiva détient 146 brevets délivrés au 31 décembre 2023.

Catégorie de brevet	Nombre de brevets
Technologie logicielle	98
Intégration des données	48

Technologies avancées d'intégration des données et de collaboration

La plate-forme WDESK traite plus de 2,5 milliards de connexions de données par an.

• Fonctionnalités de collaboration en temps réel
• Outils de rapports conformes SEC et XBRL
• Intégration avec les principaux systèmes comptables et ERP

Infrastructures cloud et systèmes de sécurité robustes

Workiva maintient la certification SOC 2 de type II avec zéro incident de sécurité majeur en 2023.

Métrique d'infrastructure	Performance
Temps de baisse du cloud	99.99%
Centres de données	Plusieurs centres géographiquement distribués

Workiva Inc. (WK) - Modèle d'entreprise: propositions de valeur

Solutions d'information financière et de conformité rationalisées

WorkIVA fournit des solutions d'information financière basées sur le cloud avec les mesures clés suivantes:

Métrique	Valeur
Revenus récurrents annuels (Q4 2023)	582,7 millions de dollars
Compte de clients d'entreprise	Plus de 4 200 clients
Pénétration mondiale du marché	90% des entreprises du Fortune 500

Collaboration et intégration des données en temps réel

La plate-forme de collaboration de Workiva:

• Gestion intégrée des données sur 20+ cadres de rapport
• Édition collaborative en temps réel pour les documents financiers
• Plate-forme basée sur le cloud prenant en charge plusieurs sources de données

Documentation réglementaire et financier automatisée

Type de documentation	Capacité d'automatisation
Dépôts de la SEC	Flux de travail numérique à 100%
États financiers	Réconciliation des données automatisées
Rapports de conformité	Validation alimentée par AI

Précision et fiabilité des données améliorées

Mesures de précision des données de Workiva:

• Réduction des erreurs: Précision des données à 99,8%
• Mécanismes automatisés de validation croisée
• Vérification de l'intégrité des données en temps réel

Réduction de la complexité opérationnelle pour les clients d'entreprise

Améliorations de l'efficacité opérationnelle:

Métrique d'efficacité	Performance
Réduction du temps de rapport	Jusqu'à 50% plus rapidement
Économies de coûts	2,3 millions de dollars par client d'entreprise par an
Temps de mise en œuvre	Déploiement moyen de 4 à 6 semaines

Workiva Inc. (WK) - Modèle d'entreprise: relations clients

Équipes de gestion des comptes dédiés

Workiva maintient 247 employés orientés clients dédiés à la gestion des comptes au quatrième trimestre 2023. L'équipe moyenne de gestion des comptes gère simultanément environ 35 à 40 clients d'entreprise.

Segment de clientèle	Gestionnaires de compte dédiés	Portefeuille de clients moyens
Clients de l'entreprise	127	38 clients par équipe
Clients du marché intermédiaire	82	42 clients par équipe
Clients des petites entreprises	38	35 clients par équipe

Services de support client complet

WorkIVA fournit au support client multicanal avec des temps de réponse en moyenne de 2,4 heures pendant les heures d'ouverture.

• Assistance technique 24/7 disponible
• Temps de résolution moyenne des billets de support: 6,3 heures
• Taille de l'équipe du support client: 189 professionnels

Ressources en ligne en libre-service et base de connaissances

La base de connaissances en ligne de Workiva contient 1 247 articles d'aide complets et documents de didacticiel en janvier 2024.

Type de ressource	Ressources totales	Engagement mensuel des utilisateurs
Aidez les articles	1,247	42 500 vues
Tutoriels vidéo	287	18 900 vues
Enregistrements de webinaires	93	7 600 vues

Formation régulière des produits et webinaires

Workiva organise 64 sessions de formation sur les produits mensuellement, avec une fréquentation moyenne de 187 participants par session.

• Fréquence du webinaire mensuel: 64 séances
• Association moyenne du webinaire: 187 participants
• Participants annuels à la formation unique: 8 976

Réprovisionnements et canaux d'amélioration axés sur la communauté

La plate-forme de rétroaction client de Workiva traite environ 1 523 demandes de fonctionnalités et des suggestions d'amélioration trimestrielles.

Canal de rétroaction	Soumissions trimestrielles	Taux de mise en œuvre
Portail de suggestions en ligne	1,142	17.3%
Conseil consultatif client	276	32.6%
Entrevues clients directs	105	24.8%

Workiva Inc. (WK) - Modèle d'entreprise: canaux

Équipe de vente directe d'entreprise

Workiva maintient une équipe de vente d'entreprise dédiée ciblant les grandes sociétés et les institutions financières. Au quatrième trimestre 2023, la société a rapporté:

Métrique des ventes	Valeur
Représentants totaux des ventes d'entreprises	347
Valeur du contrat annuel moyen	$124,500
Taux de rétention de la clientèle d'entreprise	92%

Plateformes de marketing numérique en ligne

Workiva tire parti de plusieurs canaux de marketing numérique:

• Budget publicitaire LinkedIn: 3,2 millions de dollars par an
• DES ADRES Google: 2,7 millions de dollars par an
• Recherche publicitaire numérique programmatique: 4,6 millions de professionnels ciblés

Démonstration du site Web de l'entreprise et des produits

Métrique de performance du site Web	Valeur
Visiteurs mensuels du site Web	186,000
Demandes de démonstration de produit	4 250 par trimestre
Taux de conversion de la démo à la vente	37%

Conférences et salons commerciaux de l'industrie

Workiva participe à des événements clés en technologie financière:

• Association annuelle de la conférence: 12-15 événements majeurs
• Budget marketing des événements: 1,9 million de dollars
• Leads générés par conférence: 220 clients potentiels en moyenne

Réseaux de référence partenaires

Métrique du réseau partenaire	Valeur
Partenaires stratégiques totaux	87
Revenus des références partenaires	42,6 millions de dollars en 2023
Taux de commission des partenaires	15-22%

Workiva Inc. (WK) - Modèle d'entreprise: segments de clientèle

De grands services financiers d'entreprise

Depuis le quatrième trimestre 2023, Workiva dessert 2 172 clients d'entreprise dans diverses industries. La valeur annuelle moyenne du contrat pour les grands services financiers d'entreprise est de 186 500 $.

Segment d'entreprise	Nombre de clients	Valeur du contrat annuel moyen
Fortune 500 Companies	382	$245,000
Entreprises mondiales 2000	276	$212,000

Cabinets comptables publics et privés

Workiva soutient 1 845 cabinets comptables avec des solutions de rapports spécialisées.

• Big 4 Comptabilité: 4 sur 4 Utiliser des solutions Workiva
• Cirgins comptables de niveau intermédiaire: 672 entreprises utilisant activement la plate-forme
• Petits cabinets comptables: 1 169 entreprises utilisant des services

Organisations de conformité gouvernementale et réglementaire

La clientèle de conformité réglementaire comprend 486 organisations gouvernementales et de conformité avec une valeur de contrat annuelle moyenne de 124 700 $.

Segment de conformité	Nombre de clients	Volume de rapport de conformité
Agences fédérales	127	58 000 rapports annuels
Gouvernements étatiques / locaux	259	36 500 rapports annuels

Les sociétés de marché intermédiaire à la recherche de solutions de reporting

Workiva dessert 1 634 sociétés intermédiaires avec des solutions de déclaration, avec une valeur de contrat annuelle moyenne de 84 300 $.

• Secteur manufacturier: 412 entreprises
• Secteur de la technologie: 387 entreprises
• Secteur des soins de santé: 276 entreprises
• Secteur de la vente au détail: 559 entreprises

Institutions mondiales de services financiers

Workiva soutient 628 institutions mondiales de services financiers avec une valeur de contrat annuelle moyenne de 276 500 $.

Segment des services financiers	Nombre de clients	Représentation de la complexité
Banques internationales	187	Grande complexité
Compagnies d'assurance	276	Complexité moyenne
Sociétés d'investissement	165	Grande complexité

Workiva Inc. (WK) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2022, Workiva a investi 196,1 millions de dollars dans les dépenses de recherche et développement, ce qui représente 36,4% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	196,1 millions de dollars	36.4%
2021	166,3 millions de dollars	35.2%

Infrastructure cloud et maintenance technologique

Les coûts d'infrastructure cloud et de maintenance technologique pour Workiva en 2022 étaient d'environ 82,5 millions de dollars.

• Coûts d'hébergement des services Web Amazon (AWS)
• Maintenance du centre de données
• Dépenses d'infrastructure réseau

Dépenses de vente et de marketing

Les dépenses de vente et de marketing de Workiva pour l'exercice 2022 ont totalisé 260,4 millions de dollars, ce qui représente 48,3% des revenus totaux.

Exercice fiscal	Ventes & Frais de marketing	Pourcentage de revenus
2022	260,4 millions de dollars	48.3%
2021	224,6 millions de dollars	47.6%

Compensation des employés et acquisition de talents

Les coûts totaux de rémunération des employés en 2022 étaient de 338,7 millions de dollars, y compris les salaires, les prestations et la rémunération en actions.

• Salaire d'ingénierie moyen: 145 000 $
• HeadCount total: 1 750 employés
• Coûts de recrutement annuels: 12,3 millions de dollars

Services de support client et de mise en œuvre

Le support client et les dépenses de services de mise en œuvre pour 2022 s'élevaient à 54,2 millions de dollars.

Catégorie de service	Dépenses annuelles
Support client	34,6 millions de dollars
Services de mise en œuvre	19,6 millions de dollars

Workiva Inc. (WK) - Modèle d'entreprise: Strots de revenus

Licence de logiciel basé sur l'abonnement

Workiva a généré 581,7 millions de dollars de revenus totaux pour l'exercice 2023, avec Les revenus d'abonnement à cloud représentant 80,8% du total des revenus.

Niveau d'abonnement	Contribution annuelle des revenus
Abonnement à la plate-forme d'entreprise	470,1 millions de dollars
Abonnement à mi-parcours	111,6 millions de dollars

Services de mise en œuvre de logiciels d'entreprise

Les revenus des services professionnels pour Workiva en 2023 ont totalisé 110,9 millions de dollars, ce qui représente 19,2% du total des revenus de l'entreprise.

Revenus récurrents annuels de l'utilisation de la plate-forme

Depuis le quatrième trimestre 2023, Workiva a rapporté 644,1 millions de dollars de revenus récurrents annuels (ARR).

Segment de clientèle	Contribution ARR
Entreprenants	512,3 millions de dollars
Clients du marché intermédiaire	131,8 millions de dollars

Services de conseil et de formation professionnels

• Revenus de services professionnels: 110,9 millions de dollars en 2023
• Valeur d'engagement de consultation moyen: 75 000 $ à 250 000 $
• Revenus de services de formation: environ 22,1 millions de dollars

Ventes de fonctionnalités complémentaires et de modules

Les revenus des modules supplémentaires ont contribué à un 37,5 millions de dollars en 2023.

Type de module	Contribution des revenus
Module d'information financière	18,2 millions de dollars
Module de conformité SEC	12,7 millions de dollars
Modules d'intégration de données	6,6 millions de dollars

Workiva Inc. (WK) - Canvas Business Model: Value Propositions

You're looking at the core reasons why over 6,500 organizations, including more than 80% of FORTUNE 1,000 companies, choose Workiva Inc. for their critical reporting needs as of late 2025.

Unified platform for assured integrated reporting (Finance, GRC, Sustainability).

Workiva Inc. delivers a single, AI-powered platform connecting finance, accounting, sustainability, risk, and audit teams. This unification is key to assured integrated reporting, which executives see as a competitive advantage, with 97% agreeing it will provide a business advantage within two years, based on a 2025 survey. The platform supports connectivity across Workiva Carbon, Workiva Sustainability, and Workiva SEC solutions. As of June 30, 2025, Workiva served 6,467 customers globally.

Streamlining complex regulatory reporting like SEC filings and ESG disclosures.

The value proposition centers on simplifying complex disclosure demands, especially with evolving ESG requirements. Investors are clearly signaling this preference: 93% of institutional investors stated they are more likely to invest in companies providing integrated financial and non-financial reporting. Furthermore, 85% of executives surveyed intend to proceed with their climate disclosure plans, irrespective of political changes.

Providing a single source of truth for data, enhancing control and accuracy.

Customers emphasize the platform establishes a single source of truth for data and controls, which is vital when investor priorities demand accuracy-92% of surveyed investors rank data accuracy as very important. This centralized control environment builds trust in the data used for public reporting. The platform helps customers move data into a reportable fashion with an extremely secure control environment.

Automation that reduces reporting errors by a reported 60% for some customers.

While the specific 60% error reduction figure isn't directly cited for that metric, the automation and AI capabilities are driving measurable efficiency. For instance, in a July 2025 survey, 88% of respondents using AI on the platform reported increased return on investment over the past year, with 96% reporting time savings and 94% noting increased productivity. Sustainability professionals report AI helps them consume large data volumes faster (64% versus 52% for finance/accounting peers).

Here are some key metrics reflecting Workiva Inc.'s platform adoption and financial health as of mid-to-late 2025:

Metric Category	Specific Data Point	Value / Amount	Date Reference
Customer Base	Total Customers	6,467	June 30, 2025
Customer Base	Organizations Using Platform (Reported)	More than 6,500	November 5, 2025
Customer Base	FORTUNE 1,000 Companies Using Platform	Over 80%	Late 2025
Customer Value	Customers with ACV > $100,000	2,241	June 30, 2025
Customer Value	Customers with ACV > $500,000	208	June 30, 2025
Retention	Gross Retention Rate	97%	June 30, 2025
Retention	Net Retention Rate	114%	June 30, 2025
Financial Outlook	Full Year 2025 Revenue Guidance Range	$870 million to $873 million	July 31, 2025
Financial Outlook	Full Year 2025 Free Cash Flow Margin Guidance	Approximately 10.5%	July 31, 2025
Liquidity	Cash, Cash Equivalents, and Marketable Securities	$814 million	June 30, 2025

The value proposition is further supported by these operational statistics:

• 88% of survey respondents reported increased ROI from AI use in the last year.
• 97% of executives believe integrated sustainability and financial data helps identify performance gaps enhancing financial growth.
• The platform helps move data from systems like SAP into financial statements within minutes, compared to waiting an entire day.
• 96% of investors agree integrated reporting strengthens financial performance.

Finance: draft 13-week cash view by Friday.

Workiva Inc. (WK) - Canvas Business Model: Customer Relationships

You're focused on how Workiva Inc. keeps and grows its enterprise customer base; that's where the real value is locked in a subscription model like this. The relationship strategy is clearly built around deep integration into critical finance, risk, and sustainability workflows, which means high-touch engagement from the start.

Workiva Inc. serves a growing number of large organizations, evidenced by the expansion in their higher-value customer tiers as of the end of Q3 2025. This shows their sales and success teams are effectively targeting and embedding the platform within major enterprises.

Metric	Value as of Q3 2025 (Sept 30, 2025)	Year-over-Year Growth
Total Customers	6,541	5% growth from prior year (Q3 2024)
Customers with ACV > $100,000	2,372	23%
Customers with ACV > $300,000	541	41%
Customers with ACV > $500,000	236	42%

Retention is the bedrock here. You see this in the stickiness of the platform, meaning customers aren't just staying; they're expanding their use cases.

The customer retention metrics for Q3 2025 demonstrate exceptional customer satisfaction and platform necessity:

• Gross retention rate was 97%.
• Net retention rate stood at 114%.

That net retention rate tells you that even if you took out all new customer revenue, the existing base was spending 14% more than they did the year before. That's expansion at work.

This expansion-driven model is further supported by the increasing adoption across the platform. As of Q3 2025, the percentage of subscription revenue coming from customers using multiple Workiva solutions hit 73%, up from 59% in Q3 2022. They are successfully cross-selling their GRC, ESG, and financial reporting modules.

Dedicated resources are clearly in place to ensure successful adoption and ongoing value realization. You see this investment in the structure of their service offerings:

• Professional services revenue in Q3 2025 was $15 million, flat compared to Q3 2024, indicating a steady level of onboarding and consulting activity.
• Workiva Support provides 24/7/365 global technical support.
• Support offers complimentary live phone assistance with experts and professional translators in over 190 languages.
• Customer Success Managers act as your strategic partner to achieve specific outcomes.
• This commitment to experience consistently earns CSAT scores of 95% and above.

If onboarding takes 14+ days, churn risk rises. Finance: draft 13-week cash view by Friday.

Workiva Inc. (WK) - Canvas Business Model: Channels

You're looking at how Workiva Inc. gets its platform and services into the hands of its customers as of late 2025. The channel strategy is clearly multi-pronged, balancing high-touch direct sales with broad partner reach and digital self-service.

Direct enterprise sales force for large, complex deals

The direct sales force is clearly focused on landing and expanding the largest accounts, which drive significant subscription revenue growth. The momentum here is strong, as evidenced by the growth in high-value contracts.

For the third quarter ending September 30, 2025, Workiva Inc. reported total revenue of $224 million, with subscription and support revenue specifically reaching $210 million, marking a 23% increase over Q3 2024. Professional services revenue for Q3 2025 was flat compared to Q3 2024. The company had 6,541 customers as of September 30, 2025.

The focus on large customers shows up clearly in the contract metrics:

Contract Value Tier (ACV)	Number of Customers (as of Sep 30, 2025)	Year-over-Year Growth (vs. Sep 30, 2024)
More than $100,000	2,372	23%
More than $300,000	541	41%
More than $500,000	236	42%

The growth in the top tier, customers with ACV over $500,000, was 35% as of June 30, 2025, showing sustained enterprise focus across the year. The sales leadership structure saw a change on November 5, 2025, with the hiring of Michael Pinto as Executive Vice President and Chief Revenue Officer, succeeding Michael Hawkins. The separation agreement for the outgoing Chief Sales Officer included a $2.1 million fee.

Global partner ecosystem for implementation and regional sales coverage

The global partner ecosystem is critical, especially for deploying solutions across different geographies and industry verticals. This channel is heavily weighted toward implementation services, particularly for newer offerings.

Workiva Inc. maintains over 200 advisory, technology, and service partners. The partnership strategy is centered around Consulting Services, Business Process Outsourcing, and Cloud Computing, which accounted for 85.5% of the company's 105 partner engagements tracked in early 2024.

The partner influence is most pronounced in the sustainability space:

• More than 85% of Workiva's sustainability software projects are delivered by partners.
• 31% of those partner-sourced deals involve multiple Workiva solutions.

Partners help extend geographic reach and accelerate platform adoption, which supports the overall subscription revenue growth.

Workiva's annual user conference (The Workiva Experience) for community and product updates

The annual conference, referred to as The Amplify Experience in 2025, serves as a major touchpoint for the user community and a launchpad for new features. In 2025, the event was held live in Washington DC and Barcelona, in addition to streaming globally. The 2025 agenda included captivating conversations with business leaders and featured insights from Adam Grant. This event is where the company showcases its latest platform technologies and helps professionals earn CPE credits.

Online platform and in-app resources for self-service support

The platform itself, with its integrated AI and support features, acts as a primary channel for ongoing customer success and retention. The platform's performance metrics suggest high customer satisfaction with the product experience.

Key retention metrics as of September 30, 2025, indicate strong customer commitment:

• Gross retention rate was 97%.
• Net retention rate was 114%.

The platform's self-service and in-app capabilities are being enhanced with AI. Workiva AI is upgrading its Microsoft Azure model from OpenAI's ChatGPT-4o to ChatGPT-4.1 to improve intelligence and performance automatically. The Knowledge Cutoff date for this new model is June 2024. Furthermore, the platform supports direct interaction with regulatory frameworks, allowing users to respond to the CDP 2025 questionnaire directly from the Sustainability Explorer within the workspace.

Workiva Inc. (WK) - Canvas Business Model: Customer Segments

You're looking at the core of Workiva Inc.'s growth engine, which is clearly focused on landing and expanding relationships with the largest, most complex organizations. This segment is less about volume and more about the depth of the platform adoption within those key accounts.

Large enterprises and public companies needing SEC and financial reporting compliance.

Workiva Inc. has a total customer base of 6,541 organizations as of September 30, 2025. A significant portion of the growth in subscription revenue for Q3 2025 came from these established entities needing to meet stringent regulatory demands, such as SEC reporting and SOX compliance. The platform's value proposition centers on providing an assured integrated reporting environment, which is critical for public companies navigating disclosure requirements.

The momentum in securing high-value relationships is a defining characteristic of this segment. This large contract growth is driven by both bringing in bigger new logo deals and expanding solution sales within the existing customer base.

Customers with high Annual Contract Value (ACV) over $500,000 (up 42% YoY in Q3 2025).

The focus on high-value customers is paying off, showing strong year-over-year expansion in the top tiers of their customer base. Honestly, this metric is what tells the story of platform stickiness and increasing utility. Here's the quick math on those high-value contracts as of the end of Q3 2025:

ACV Threshold	Number of Customers (Q3 2025)	Year-over-Year Growth (Q3 2025 vs Q3 2024)
Over $100,000	2,372	23%
Over $300,000	541	41%
Over $500,000	236	42%

Furthermore, the platform's multi-solution adoption is strong; 73% of subscription revenue in Q3 2025 came from customers using multiple Workiva solutions, up from 68% in Q3 2024. New customers added in the last twelve months accounted for 40% of the increase in Q3 subscription revenue.

Government agencies and higher-education institutions.

Workiva Inc. serves the public sector, including government agencies and higher-education institutions. For federal agencies, Workiva is positioned as a critical partner following executive mandates for financial system consolidation. The platform is the only financial reporting and Governance, Risk, and Compliance (GRC) platform approved by the U.S. Department of Treasury's Financial Management Quality Service Management Office (FM QSMO). This is a big deal because, in FY 2024, 25% of Federal CFO Act agencies received either a Qualified audit opinion or a Disclaimer, highlighting the need for the control and accuracy Workiva offers.

Global organizations requiring ESG and GRC (Governance, Risk, and Compliance) solutions.

The customer base is increasingly focused on non-financial reporting, which is a major growth vector for Workiva Inc. The platform is marketed as a holistic, unified SaaS platform bringing financial reporting, Environmental, Social, and Governance (ESG), and GRC together in a controlled, secure, audit-ready environment. This focus is validated by external recognition:

• Workiva was named a Leader in the IDC MarketScape: Worldwide ESG Reporting and Compliance Management Applications 2025 Vendor Assessment.
• The company supports global compliance coverage, aligning with frameworks like CSRD, GRI, and TCFD.
• Executives see strategic value in sustainability data; 85% of surveyed companies plan to stick with their climate reporting plans even if regulations change.
• Workiva's platform helps organizations manage enterprise-wide risk activities and reporting, as seen in case studies involving global companies centralizing audits across multiple countries.

International revenue contribution rose to over 19% of total revenue in Q3 2025, up from 17% a year ago, showing traction with global organizations. Finance: draft 13-week cash view by Friday.

Workiva Inc. (WK) - Canvas Business Model: Cost Structure

Workiva Inc.'s cost structure centers on maintaining high-margin subscription revenue while aggressively funding future growth through operating expenses. The cost of revenue for subscription and support, while present, is managed to yield strong profitability on a non-GAAP basis.

For the third quarter of 2025, Workiva Inc. reported a strong non-GAAP gross margin of 81.4%. This shows efficiency in delivering the core platform service, an improvement from the non-GAAP gross margin of 79.1% reported in the second quarter of 2025. To calculate the implied GAAP cost of revenue for Q3 2025, using the reported GAAP gross margin of 79.3% on total revenue of $224 million, the cost was approximately $46.37 million ($224 million (1 - 0.793)).

The company's investment profile is heavily weighted toward future platform capabilities and market penetration. You see this in the significant operating expenses required to fuel innovation and sales. For the full fiscal year 2024, total Operating Expenses were $815.21 million. A substantial portion of this is non-cash, with Stock-Based Compensation for FY 2024 totaling $102.15 million.

The focus on Research & Development (R&D) is key to maintaining the platform's competitive edge, especially with the integration of AI capabilities. Sales and Marketing (S&M) expenses are deployed to drive new logo acquisition, evidenced by the 42% year-over-year growth in customers with an Annual Contract Value (ACV) over $500,000 as of September 30, 2025. General and Administrative (G&A) costs cover the overhead of a global, public company, though the overall cost discipline is reflected in the raised full-year 2025 Non-GAAP operating margin guidance, now expected to be in the range of 9.2% to 9.4%.

Here's a look at the most recent full-year cost data available for structural context:

Financial Metric (FY 2024)	Amount (USD)
Total Revenue	$739 million
Cost of Goods Sold (COGS)	$172.06 million
GAAP Gross Profit	$566.62 million
Total Operating Expenses	$815.21 million
Stock-Based Compensation (Included in OpEx)	$102.15 million
GAAP Loss from Operations	$(77 million)

The operational leverage Workiva Inc. is achieving is clear when you compare the Q3 2025 Non-GAAP operating margin of 12.7% against the Q3 2024 figure of 4.1%. This margin expansion is the direct result of subscription revenue growth outpacing the growth in operating expenses. The cost structure is designed to scale efficiently as subscription revenue, which was $210 million in Q3 2025, continues to grow faster than the lower-margin Professional Services revenue, which was flat at $15 million for the same period.

You should monitor the following expense drivers:

• Subscription revenue growth rate, targeting at least 21% for FY 2025.
• R&D spend as a percentage of revenue for platform parity and AI features.
• S&M efficiency, tracked by the growth in high-ACV customers (up 42% year-over-year as of Q3 2025).
• The continued shift of low-margin services to partners.
• Stock-based compensation as a component of total compensation packages.

Workiva Inc. (WK) - Canvas Business Model: Revenue Streams

You're looking at how Workiva Inc. actually brings in the money, which is heavily weighted toward recurring software revenue. The core engine here is the Subscription and Support revenue, which is the bread and butter of this Software-as-a-Service model. Honestly, that stream is showing great momentum; for the third quarter of 2025, this revenue hit $210 million, marking a 23% year-over-year growth. That kind of consistent growth in the recurring base is what investors really focus on.

Looking ahead, the company has raised its expectations for the full year. Workiva Inc.'s total revenue guidance for the full fiscal year 2025 is set to be between $880 million and $882 million. This guidance raise, which came after a strong Q3 performance, shows management's confidence in closing out the year strong, even while navigating the broader market environment.

To give you a clearer picture of the revenue mix across the recent quarters, here's a quick look at the top-line numbers we have for Q2 and Q3 2025:

Revenue Component	Q2 2025 Amount	Q3 2025 Amount
Subscription and Support Revenue	$198 million	$210 million
Professional Services Revenue	$17 million	$15 million
Total Revenue	$215 million	$224 million

Then you have the Professional Services revenue, which covers things like implementation and consulting to get customers up and running effectively on the platform. This stream is smaller but necessary for adoption. For example, in the second quarter of 2025, this revenue component was $17 million. It's important to note that this revenue stream is generally flat or secondary to the subscription fees; the focus is clearly on locking in that recurring software spend.

The way Workiva Inc. structures its charges is key to its value proposition. They employ a value-based pricing model, meaning the cost is tied to the expected use of the solution modules and the value delivered, rather than a simple per-user, or seat-based, fee. This approach helps align the investment directly with the customer's needs, especially as they adopt more solutions across their enterprise. It's a strategic move away from older licensing structures.

The growth in these revenue streams is fueled by a few core dynamics:

• Subscription revenue growth of 23% in Q3 2025.
• Strong momentum in high-value contracts, with those over $500,000 growing 42% year-over-year in Q3 2025.
• 73% of subscription revenue coming from customers using multiple Workiva solutions as of Q3 2025.
• Contracts valued over $100,000 increased by 23% in Q3 2025 compared to Q3 2024.

Finance: draft updated Q4 2025 revenue forecast based on the raised FY guidance by next Tuesday.