Workiva Inc Income Statement - Real Clear Investing - You World of Transparent Investing

Selected Quarter:

31-Dec
2020

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

100%

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Subscription and support	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	56,123	60,472	63,022	66,148	68,361	70,696	75,850	80,970	295,877	323,880
Professional services revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	13,840	13,012	11,157	14,117	17,440	13,164	12,249	12,864	55,717	51,456
Total Revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$69,963	$73,484	$74,179	$80,265	$85,801	$83,860	$88,099	$93,834	$351,594	$375,336

Selected Quarter:

31-Dec
2020

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

105.2%

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Cost of revenue Subscription and support	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	9,809	10,202	10,924	11,946	12,153	12,098	12,013	13,239	49,503	52,956
Costs of professional services	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	9,727	10,475	10,827	11,102	10,243	10,146	9,873	10,412	40,674	41,648
Total cost of revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	$19,536	$20,677	$21,751	$23,048	$22,396	$22,244	$21,886	$23,651	$90,177	$94,604
Gross profit	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	50,427	52,807	52,428	57,217	63,405	61,616	66,213	70,183	261,417	280,732
Sales and marketing	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	25,365	28,213	32,990	33,732	36,117	35,270	35,487	37,813	144,687	151,252
Research and development	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	22,011	21,795	22,899	23,216	22,994	23,508	23,956	24,386	94,844	97,544
General and administrative	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	10,383	11,226	12,017	14,438	13,448	19,632	13,722	12,886	59,688	51,544
Total operating expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	$57,759	$61,234	$67,906	$71,386	$72,559	$78,410	$73,165	$75,085	$299,219	$300,340

Selected Quarter:

31-Dec
2020

Income after excluding Operating Expenses from Total Revenue

5.2%

Key metric that shows earnings potential of the company's business model

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	($7,332)	($8,427)	($15,478)	($14,169)	($9,154)	($16,794)	($6,952)	($4,902)	($37,802)	($19,608)

Selected Quarter:

31-Dec
2020

Cost usually unrelated to delivering service or manufacturing a product that business sells

0.5%

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter:	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Other expense or income	45,679	45,679	45,679	-	-	-	-	-	-	-	-	-	-	-	45,679	45,679	(172)	(111)	24	(305)	718	(68)	(387)	(468)	(205)	(1,872)
Other income	-	-	-	-	45,679	45,679	45,679	45,679	45,679	45,679	45,679	-	45,679	45,679	-	-	320	530	-	-	-	-	-	-	-	-
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(172)	(111)	24	(305)	718	(68)	(387)	(468)	(205)	(1,872)

Selected Quarter:

31-Dec
2020

Income after excluding Operating and Non-operating Expenses from Total Revenue

5.7%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	($7,504)	($8,538)	($15,454)	($14,790)	($8,436)	($16,862)	($7,339)	($5,370)	($38,007)	($21,480)

Selected Quarter:

31-Dec
2020

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

2.3%

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Interest expense	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(440)	(433)	(1,959)	(3,195)	(3,554)	(3,563)	(3,572)	(3,275)	(13,964)	(13,100)
Interest income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45,679	45,679	492	641	1,460	2,064	1,706	655	471	450	3,282	1,800
Income before income taxes	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(7,452)	(8,330)	(15,953)	(15,605)	(10,284)	(19,770)	(10,440)	(8,195)	(48,689)	(32,780)
Income tax expense or benefit	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	11	(8)	98	38	289	(5)	67	(642)	(291)	(2,568)

Selected Quarter:

31-Dec
2020

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

8.0%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	($7,463)	($8,322)	($16,051)	($15,643)	($10,573)	($19,765)	($10,507)	($7,553)	($48,398)	($30,212)

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2015 31-Mar	2015 30-Jun	2015 02-Nov	2016 26-Feb	2016 02-May	2016 01-Aug	2016 07-Nov	2017 21-Feb	2017 02-May	2017 01-Aug	2017 03-Nov	2018 20-Feb	2018 30-Apr	2018 03-Aug	2018 05-Nov	2019 18-Feb	2019 29-Apr	2019 02-Aug	2019 04-Nov	2020 18-Feb	2020 28-Apr	2020 31-Jul	2020 31-Oct	2021 12-Feb	2021 12-Feb	2021 12-Feb
Class A	-	-	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	35,733,931	36,762,217	1	38,298,548	1	1	1	41,638,384	41,638,384	41,638,384
Class B	-	-	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	9,425,596	9,265,596	8,640,596	8,595,596	8,555,596	8,475,596	8,299,610	7,964,610	7,964,610	7,964,610

Selected Quarter:

31-Dec
2020

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2015 31-Mar	2015 30-Jun	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net Income per basic share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	($0.17)	($0.18)	($0.34)	($0.34)	($0.22)	($0.41)	($0.22)	($0.15)	($1.00)	($0.60)
Net Income per diluted share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	($0.17)	($0.18)	($0.34)	($0.34)	($0.22)	($0.41)	($0.22)	($0.15)	($1.00)	($0.60)

Workiva Inc

Short Description

Income Statement

Subscription and support

Professional services revenue

Sales and marketing

Research and development

Cost of revenue Subscription and support

General and administrative

Costs of professional services

Operating Income

Other expense or income

EBIT

Income tax expense or benefit

Interest income

Interest expense

Net income (loss)