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Workiva Workiva Inc. Announces Third Quarter 2021 Financial Results Increased Q3 2021 Subscription & Support Revenue by 30.4 % over Q3 2020 Generated Total Q3 2021 Revenue of $ 112.7 Million , up 27.9 % over 3 2020 Achieved 41.3 % YOY Growth of Customers with Annual Contract Value Over $ 150K Raises Full - Year 2021 Revenue Guidance - AMES , Iowa - November 3 , 2021 - Workiva Inc. ( NYSE : WK ) , the company that simplifies complex work , today announced financial results for its third quarter ended September 30 , 2021 . " Workiva delivered another strong quarter , beating third quarter guidance for revenue and operating results , " said Marty Vanderploeg , Chief Executive Officer . " We achieved 30.4 % organic growth in subscription & support and 27.9 % in total revenue . " revenue , " We continue to build on our market leadership and the increased demand for financial and ESG reporting solutions that drive digital transformations , " Vanderploeg added . " Due to our continued outperformance , we are raising our full - year guidance , " said Jill Klindt , Chief Financial Officer . " We now expect total revenue to range from $ 439 million to $ 440 million , and non - GAAP operating income to range from $ 15 million to $ 16 million . " Third Quarter 2021 Financial Highlights Revenue : Total revenue for the third quarter of 2021 reached $ 112.7 million , an increase of 27.9 % from $ 88.1 million in the third quarter of 2020. Subscription and support revenue contributed $ 98.9 million , up 30.4 % versus the third quarter of 2020. Professional services revenue was $ 13.8 million , an increase of 12.5 % compared to the same quarter in the prior year . ● Gross Profit : GAAP gross profit for the third quarter of 2021 was $ 86.3 million compared with $ 66.2 million in the same quarter of 2020. GAAP gross margin was 76.6 % versus 75.2 % in the third quarter of 2020. Non - GAAP gross profit for the third quarter of 2021 was $ 87.4 million , an increase of 30.7 % compared with the prior year's third quarter , and non - GAAP gross margin was 77.6 % compared to 75.9 % in the third quarter of 2020 . Results from Operations : GAAP loss from operations for the third quarter of 2021 was $ 8.0 million compared with a loss of $ 6.9 million in the prior year's third quarter . Non - GAAP income from operations was $ 5.0 million , compared with non - GAAP income from operations of $ 3.7 million in the third quarter of 2020 . GAAP Net Loss : GAAP net loss for the third quarter of 2021 was $ 6.6 million compared with a net loss of $ 10.4 million for the prior year's third quarter . GAAP net loss per basic and diluted share was $ 0.13 compared with a net loss per basic and diluted share of $ 0.21 in the third quarter of 2020 . Non - GAAP Net Income : Non - GAAP net income for the third quarter of 2021 was $ 8.7 million compared with net income of $ 2.5 million in the prior year's third quarter . Non - GAAP net income per basic share and diluted share was $ 0.17 and $ 0.15 , respectively , compared with net income per basic and diluted share of $ 0.05 in the third quarter of 2020 . Liquidity : As of September 30 , 2021 , Workiva had cash , cash equivalents and marketable securities totaling $ 522.3 million , compared with $ 530.0 million as of December 31 , 2020. Workiva had $ 345.0 1