Slides
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Analyst and Investor Day September 15, 2026
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Katie White Senior Director, Investor Relations
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This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation other than statements of historical facts, including any statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "may," "will," "could," "would," "should," "expect," "plan," "assume," "anticipate," "intend," "believe," "estimate," "predict," "potential," "outlook," "guidance," "target," "goal," "project," "continue to," "confident," or the negative of those terms, and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties and are based on our assumptions as to the macroeconomic, political and regulatory environment today, and reflect management's current expectations and beliefs based on factors currently known to us. Actual results may differ materially from those contained in any forward-looking statements. It is not possible for management to predict all risks, nor can we assess the impact of all factors on our business. Workiva cautions that these forward-looking statements are not guarantees of future performance. Please refer to documents filed with the Securities and Exchange Commission, including the companyʼs annual reports filed on Form 10-K and quarterly reports on Form 10-Q, particularly the sections captioned "Risk Factors," and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this presentation that may cause our actual results to differ materially. All forward-looking statements are made as of September 15, 2026, and reflect our current expectations only. We undertake no obligation to update or revise these statements to conform to actual results or revised expectations, except as required by law. By reviewing this presentation, you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. Safe Harbor
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Agenda Vision & Strategy Julie Iskow – President & CEO 1 Product & Platform Deepak Bharadwaj – Chief Product Officer 2 Growth Opportunity Mike Rost – Chief Strategy Officer 3 Financial Framework Barbara Larson – Chief Financial Officer 4 Q&A5
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Julie Iskow President & Chief Executive Officer
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Welcome Investors & Analysts
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Workiva hits $1B in revenue in 2026
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Workiva hits 2027 op margin target in 2026 Workiva hits $1B in revenue in 2026
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Accelerating Workivaʼs growth Strong Business Clear Strategy Significant Opportunity
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AI is Changing… AI is Changing… Whatʼs Possible Whatʼs Expected What & How Fast We Build
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2030 Revenue Target $1.8 - $2 B 2030 Target $1.8 Billion to $2 Billion $1 B 2026
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2030 Revenue Target ~26% 2030 Target ~18% 2026 $1.8 - $2 B 2030 Target $1 B 2026 2030 Margin Target 2030 Targets
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Growth Strategy Four Enduring Tenets Fit-for-Purpose Solutions Open, Intelligent Platform Global Expansion Partner Ecosystem
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Enterprise Software is Changing
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Software Can Do More Assist → Perform Customer Expectations Are Changing Tools → Outcomes Users are Becoming Builders Use → Build Enterprise Software is Changing
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A Different Enterprise Platform
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Protect & Grow the Core Transform the Platform Expand with New AI Offerings Strengthen and accelerate todayʼs business while building the future. Workiva Platform Strategy
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Software that understands the customerʼs business Documents Spreadsheets Reports Data Business Context Entities Accounts & People Risks & Controls
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Software that customers trust Traceable Audit-ready Trusted Data Defensible
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Business Context, Trusted Data The More Customers Do with Workiva, the More Valuable the Platform Becomes
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Workiva’s Fit-For-Purpose Agents Tie-out Agent Sustainability Disclosure Agent Automated Testing Agent The More Customers Do with Workiva, the More Valuable the Platform Becomes And many more… Business Context, Trusted Data
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Beyond Agents Performing Tasks Agentic AI performing entire process Financial Report Sustainability Disclosure Regulatory Exceptions & Approvals Submit Business Context, Trusted Data
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Workiva taking on more of the work, with the customer in control
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One Platform. Expanding Opportunities.
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Expanding Regulatory Opportunity
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Expanding Regulatory Opportunity Beyond Reporting Understand regulations Demonstrate compliance Map data, understand ownership Monitor changes, make adjustments
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Regulatory Opportunity Weʼre Going After Producing regulatory outputs Managing more of the regulatory work
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The platform organizations rely on to manage their regulatory work The platform organizations rely on to manage their regulatory work
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Workiva is Positioned to Be a Leader in This Market Agentic AI makes these earned advantages more valuable. Trust, governance, and traceability are built in the core. We understand regulatory work. We understand our customersʼ businesses and data. We have distribution. >6,000 customers. Weʼre already embedded in their tech & data ecosystem.
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Monetizing the Value Weʼre Delivering for Customers Monetization: Good, Better, Best (value metrics, not seat based) AI Enables New Offerings, New Solutions
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Strong relationships we're building with our customers: two proof points Strong relationships we're building with our customers: two proof points
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A Top Global Investment Firm Platform Journey SEC Reporting ACV Growth ACV1st Solution 2014 1 Solution
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A Top Global Investment Firm Platform Journey ACV ACV Growth 2 Solutions SEC Reporting Investment Reporting 1st Solution 2014 2nd Solution 2021
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A Top Global Investment Firm Platform Journey ACV ACV Growth 3 Solutions SEC Reporting Investment Reporting Sustainability Reporting 1st Solution 2014 2nd Solution 2021 3rd Solution 2022
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A Top Global Investment Firm Platform Journey ACV ACV Growth 8 Solutions SEC Reporting Investment Reporting Sustainability Reporting 1st Solution 2014 2nd Solution 2021 8th Solution 2023 3rd Solution 2022 Multi-entity Reporting, Bank Reporting, Operational Reporting, Mgmt Reporting, Policies & Procedures
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A Top Global Investment Firm Platform Journey ACV ACV Growth 10 Solutions SEC Reporting Investment Reporting Sustainability Reporting 1st Solution 2014 2nd Solution 2021 8th Solution 2023 2025 3rd Solution Enterprise Risk Management, Insurance Reporting 10th Solution 2022 Multi-entity Reporting, Bank Reporting, Operational Reporting, Mgmt Reporting, Policies & Procedures
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A Top Global Investment Firm Platform Journey ACV $5.5M+ ACV Growth 55x11 Solutions SEC Reporting Investment Reporting Sustainability Reporting 1st Solution 2014 2nd Solution 2021 8th Solution 2023 2025 3rd Solution Enterprise Risk Management, Insurance Reporting Fund Reporting Suite 10th Solution 11th Solution 20262022 Multi-entity Reporting, Bank Reporting, Operational Reporting, Mgmt Reporting, Policies & Procedures
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A Leading US Bank Platform Journey ACV ACV Growth 5 Solutions Sustainability Reporting, SEC, Stress Testing, Living Will, Bank Reporting 5 Solutions 2023
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A Leading US Bank Platform Journey ACV ACV Growth 7 Solutions Controls, Policies & Procedures 7 Solutions 2025 Sustainability Reporting, SEC, Stress Testing, Living Will, Bank Reporting 5 Solutions 2023 $1.7M+ 2x
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A Leading US Bank Platform Journey ACV $1.7M+ With open opportunity to increase to $2.2M+ in 2026 ACV Growth 2x7 Solutions Controls, Policies & Procedures Management Reporting, Audit, Regulatory Reporting 7 Solutions 10 Solutions 2025 2026 Opportunity Sustainability Reporting, SEC, Stress Testing, Living Will, Bank Reporting 5 Solutions 2023
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> $300k ACV Customer Cohort Growth Metrics 36% Customer Count CAGR over 4 years 95% Customers have more than 1 solution as of Q2 ‘ 26 194 Q2ʼ22 272 Q2ʼ23 356 Q2ʼ24 488 Q2ʼ25 656 Q2ʼ26 Customer Count
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> $500k ACV Customer Cohort Growth Metrics 35% >35% Customers have 6 or more solutions as of Q2 ‘ 26 84 Q2ʼ22 118 Q2ʼ23 154 Q2ʼ24 208 Q2ʼ25 276 Q2ʼ26 Customer Count CAGR over 4 years Customer Count
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Ready to Work Most of our customers still have only one or two solutions
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~50% of new logo deals are multi-solution deals vs. ~25% three years ago Landing Big and Better Growth Opportunity Average Deal Size increased >50% over three years TTM Q2ʼ23 TTM Q2ʼ24 TTM Q2ʼ25 TTM Q2ʼ26 Average Deal Size
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Significant Opportunity Across the Globe
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37% CAGR over 4 years TTM Revenue Outside the US $78M TTM Q2ʼ22 $109M TTM Q2ʼ23 $149M TTM Q2ʼ24 $204M TTM Q2ʼ25 $271M TTM Q2ʼ26
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+62% Bookings Growth Y/Y H1 2025 H1 2026 Partner Sourced Deals Driving Growth Strong mix across partners (regional, specialized, Big 4) More partners certified to deliver platform
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Investing in Growth While Improving the Economics of the Business 20% Subscription Revenue Growth Y/Y 18% Non-GAAP Operating Margin H1 2026 H1 2026
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Our Mandate is Clear Invest behind the opportunities that can drive growth. Keep raising the bar on productivity. And improve the economics of the business as we scale.
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Ready to Work More Valuable Trusted Data Customer Base Domain Expertise Partner Ecosystem AI Workivaʼs Earned Advantages
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Our strategy hasn't changed. Our ability to execute it has.
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Deepak Bharadwaj Chief Product Officer
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Helping our Customers Accelerate their AI Journey
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Defensible Trusted Data & Trusted AI Traceable Audit-ready A platform built to work, with customer in control Workivaʼs Product StrategyFramework
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Specific tasks Fit-for-Purpose Agents DefensibleTraceable Audit-ready Trusted Data & Trusted AI A platform built to work, with customer in control Workivaʼs Product StrategyFramework
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Insert screenshot of all the agents that we’ve released (from the mainstage presentation) Montage: Peer benchmarking. Financial tie-out. XBRL validation and tagging. Disclosure generation. Controls testing. Remediation. Import and review. GRC report generation. Peer Benchmarking Financial Tie-out XBRL Validation and Tagging Sustainability Disclosure Agent Controls Testing Remediation Import and Review GRC Report Generation Currently Available Agents
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Specific tasks Fit-for-Purpose Agents Coordinated work Agent Orchestration A platform built to work, with customer in control DefensibleTraceable Audit-ready Trusted Data & Trusted AI Workivaʼs Product StrategyFramework
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A platform built to work, with customer in control Specific tasks Fit-for-Purpose Agents Agentic Applications Coordinated work Outcome-driven execution Agent Orchestration DefensibleTraceable Audit-ready Trusted Data & Trusted AI Workivaʼs Product StrategyFramework
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Specific tasks Fit-for-Purpose Agents Agentic Applications Coordinated work Outcome-driven execution Agent Orchestration Workivaʼs Product Strategy A platform built to work, with customer in control DefensibleTraceable Audit-ready Trusted Data & Trusted AI Users become builders Platform Extensibility Framework
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Enabling Builders to Extend Platform Value Agent Studio
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Agent Studio Demo
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Quarter-end variance analysis Earnings call Q&A preparation Carbon & ESG data analysis Disclosure review & compliance check Board reporting package assembly Agent Studio in Action The possibilities are endless. Examples of how customers can build on our platform
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Enabling Builders to Extend Platform Value Agent Studio Workiva MCP
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Purpose-built for high-stakes work Adopt AI with confidence Using trusted enterprise context Traceable, governed, defensible To accelerate innovation Faster time to value Build on Workiva. Open and accessible Trusted data, connected to external workflows and accessed via existing AI ecosystems With permissions & control Users can only access data they are permissioned to and access is logged for audit purposes Extend with MCP. Platform extensibility opens up new possibilities Focus on the business. Leave the infrastructure to us. Platform Extensibility Opens up New Possibilities Focus on the business. Leave the infrastructure to us.
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Our platform powers our solutions
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Financial Reporting & Sustainability Group Reporting 10K Rollforward and Prep Agent Benchmarking Insights Agent Tie-out Agent XBRL Validation Agent 8K Report Generator Agent Pre-built Agent Studio templates Entity Reporting Entity 360 Intelligent Projects and Oversight Financial Statement Orchestration Agentic BEA Surveys Agentic Country by Country Reporting Agentic Census Survey Sustainability Reporting Benchmarking Insights Agent Disclosure Compliance Agent
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10-K Demo
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Expanding Regulatory Opportunity
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From Reporting to Continuous Regulatory Work Where Weʼre Going Manage regulatory work. Demonstrate compliance. Understand Your Business Collect & Manage Data Determine Applicability Map Data to Regulatory RequirementPrepare Reports Review & Approve File & Submit Monitor Continuously Understand Regulations
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BE-11 Example
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GRC
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Governance, Risk and Compliance Continuously Monitor Governance Cycle Identity Risks Define & Update Policies Design & Operate Controls Collect Evidence Test Controls over SamplesIdentify Issues Remediate Findings Produce Audit Reports
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Agentic Automated Testing Evidence Agent Attribute Agent Testing Agent
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Identify patterns Analyze root causes Draft and refine issue documentation Review and refine AI recommendations Remediation Agent
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Governance, Risk, & Compliance Automated Testing & Remediation Evidence Agent Attribute Agent Testing Agent Remediation Agent Policy Management Policy Import Agent Policy Review Agent GRC Reporting MCP Smart Chart Creator Audit Report Agent
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Specific tasks Fit-for-Purpose Agents Agentic Applications Coordinated work Outcome-driven execution Agent Orchestration A platform built to work, with customer in control DefensibleTraceable Audit-ready Trusted Data & Trusted AI Users become builders Platform Extensibility Workivaʼs Product StrategyFramework
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Trust has always been what made us different. Trust is what makes our agentic innovation different.
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Mike Rost Chief Strategy Officer
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Addressable Market Portfolio of Solutions Monetization Framework New Logo & Account Expansion The Growth Opportunity
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AI Amplifies the Opportunity for Workiva
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$35 Billion T AM 50 Financial Reporting % 20% 20% 10% Vertical Solutions GRC Sustainability
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Our T AM Today $35B Financial reporting, GRC, sustainability, and industry verticals AI & Agentic Automation Work that was never addressable by software is becoming addressable. Expanding Regulatory New mandates, new jurisdictions, and new disclosure requirements keep arriving. Our Market Opportunity is Expanding
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Solution Highlights
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Financial Reporting Trust every report, every time— with governed AI built in. Report with confidence using AI insights grounded in your data— linked directly from the source Be audit-ready with built-in controls, traceable data, and workflow visibility Own the narrative with board-ready insights and AI-assisted, industry leading disclosures
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Multi Entity Reporting 32% TTM Subscription Revenue CAGR over 4 years 36% Customer Count CAGR over 4 years Customer Count Q2ʼ22 Q2ʼ23 Q2ʼ24 Q2ʼ25 Q2ʼ26
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Before the IPO Private company reporting and internal controls, years in advance of going public. Capital Markets After the IPO SEC reporting, SOX, follow on offerings, M&A and the broader platform—every new filer expands our addressable market. At the IPO A collaborative S-1 workspace bringing together the company's bank, legal and internal teams. The compounding private-to-public arc.
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Capital Markets Q2‘25 Q2‘26 Customer Count 26% 44% Q2ʼ26 Y/Y ACV growth Q2ʼ26 Y/Y customer count growth
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Governance, Risk, and Compliance Optimize Risk. Regain Control. Deliver Defensible Assurance. Uncover emerging risk patterns with real-time, enterprise-wide data visibility Turn AI-driven insights into executive-ready narratives grounded in your trusted data Scale assurance and streamline compliance by using trusted AI to automate workflows
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Audit Management Q2ʼ22 Q2ʼ23 Q2ʼ24 Q2ʼ25 Q2ʼ26 Customer Count 39% 28% Customer Count CAGR over 4 years TTM Subscription Revenue CAGR over 4 years
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Sustainability Management Integrated reporting, audit-ready processes, and carbon accounting you can defend Integrate financial and sustainability reporting in an audit-ready environment Improve confidence in regulatory sustainability reporting with AI Increase trust in carbon data with GHG accounting and reporting in one platform
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TTM Q2 2026: Y/Y Subscription Revenue grew by 64% Sustainability in Europe TTM Q2 2026: Y/Y customer base grew by 34% Q2‘25 Q2‘26 64% 34% Q2ʼ26 Y/Y customer count growth Q2ʼ26 TTM Y/Y subscription revenue growth Customer Count
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Banking Insurance Energy/ Utilities Investment Reporting Vertical Solutions
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Fund Reporting Customer Count Q2ʼ22 Q2ʼ23 Q2ʼ24 Q2ʼ25 Q2ʼ26 54% 33% Customer Count CAGR over 4 years TTM Subscription Revenue CAGR over 4 years
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Risk Reporting ● RBC - Risk-Based Capital ● Solvency Capital Requirement ● Own Risk and Solvency Assessment ● Minimum Capital Requirement (MCR) Actuarial Reporting ● Statement of Actuarial Opinion ● Actuarial Memorandum ● Reserve & Liability Updates Group Reporting ● Group ORSA ● Group Capital & Solvency Insurance Banking Regulatory Reporting by Industry Treasury and Capital ● Liquidity stress testing ● Resolution and recovery planning (RRP), ● ALCO ● CECL ● ILAA Stress Testing ● CCAR, DFAST ● Pillar 3 ● FRB ● FDIC ● FFEIC ● OCC Energy/Utilities ● FERC ● State commission filings
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Ready for Design Review Growth Opportunity
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Customers with ACV <$100K Our Opportunity Within the Base~60% as of Q2 ‘26
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Account Expansion Opportunity 55% 24% 11% 5% 3% 2% 51% 25% 12% 6% 3% 3% Q2 2025 Q2 2026 1 Solution 2 Solutions 3 Solutions 4 Solutions 5 Solutions 6+ Solutions
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F500 - Account Expansion Opportunity 19% 24% 17% 13% 10% 17% Q2 2026 1 Solution 2 Solutions 3 Solutions 4 Solutions 5 Solutions 6+ Solutions $275k median ACV 43% of accounts have only one or two solutions; runway for growth 27% of accounts have 5 or more solutions
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A Significant Opportunity Ahead of Us Potential ACV New Logos + New Solutions Potential ACV Existing Customers + Existing Solutions Current ACV ~3x Total ACV potential (existing customers and products)
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>$200k average deal size of 3+ solution new logo deals Landing Big and Better Growth Opportunity 48% of new logo deals are multi-solution 17% of new logo deals have 3+ solutions 52% 32% 9% 6% 1% 1 Solution 2 Solutions 3 Solutions 4 Solutions 5+ Solutions 6+ Solutions TTM Q2 2026
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GRC Financial Reporting 15% of deals landed as GRC only New Logo Deals What are we landing with? 30% of new logo deals are independent of Financial Reporting 32% of of new logo deals include GRC 70% % of New Logo Deals that include this Solution - Q2 TTM Sustainability Vertical Solutions 32% 17%7% % of New Logo Deals that include this Solution - TTM Q2‘26
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>$200k average deal size of multi-category deals New Logo Deals - Europe What are we landing with? 33% of deals are multi-category 26% of deals have both Financial Reporting and Sustainability Sustainability Financial Reporting 79% Vertical SolutionsGRC 40% 13% 9% % of Europe New Logo Deals that include this Solution - TTM Q2 ‘26
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Ready for Design Review Monetization Framework
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Pricing Model Not Seat-based Value-based Pricing Model Initiated in 2019 Metric Driven Pricing Value Alignment & Expansion
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Monetization Framework Value-based Pricing Model Initiated in 2019 Value Alignment & Expansion Metric-driven pricing Pricing Tiers AI Monetization
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Global PE Firm Metric Based Pricing Adding new solutions and expanding within existing solutions $156k S1,363K Private Company Reporting 2024
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Global PE Firm Metric Based Pricing $156k $611k Private Company Reporting 2024 Fund Reporting, Sustainability 2025 Adding new solutions and expanding within existing solutions
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Global PE Firm Metric Based Pricing Increase from original purchase $1.2M ACV Growth in 2 years 7 .7x $156k $611k $1.36M Private Company Reporting 2024 Fund Reporting, Sustainability 2025 2026 Fund Reporting expansion, Management Reporting Adding new solutions and expanding within existing solutions
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Advanced Pricing Essential Capabilities Pricing Tiers Good/Better/Best Standard Customer Process Maturity Pricing Capabilities Pricing Capabilities
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Pricing Tiers - Driving Expansion STANDARD Core solution capabilities Our most capable AI, deeper automation, and richer data collection ADVANCED 20%+ average increase in solution value Customers pay more because they get more. SEC Advanced Example
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The AI Monetization Model Embedded across the platform. Every customer benefits; it raises the value of the whole portfolio.IncludedCore AI Solution-specific knowledge bases and advanced agents drive NRR uplift at renewal.Advanced TiersPremium AI AI Builder Premium capability for building enterprise AI agents Premium Add-on SKU
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Addressable Market Portfolio of Solutions Monetization Framework New Logo & Account Expansion The Growth Opportunity
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Barbara Larson Chief Financial Officer
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$1B in revenue First year of GAAP profitability Achieving 2027 non-GAAP operating margin targets one year early 2026 is a Milestone Y ear
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Proven Durable Growth
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20% CAGR over 4 years TTM Subscription Revenue Growth $424M TTM Q2ʼ22 $511M TTM Q2ʼ23 $608M TTM Q2ʼ24 $736M TTM Q2ʼ25 $891M TTM Q2ʼ26
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18% CAGR over 4 years TTM Total Revenue Growth $495M TTM Q2ʼ22 $582M TTM Q2ʼ23 $678M TTM Q2ʼ24 $807M TTM Q2ʼ25 $966M TTM Q2ʼ26
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Strong Growth Algorithm New Customer Acquisition Strong Retention Account Expansion
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~300 Net new customers per year over the last 3 years New Logo Growth Adding 5,860 6,147 6,467 6,750 Q2‘23 Q2‘24 Q2‘25 Q2‘26
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On average over the last 3 years Growth in Subscription Revenue Coming From New Customers45%
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Revenue Outside the US is Increasing 30% 25% 20% 15% 10% TTM Q2‘22 TTM Q2‘23 TTM Q2‘24 TTM Q2‘25 TTM Q2‘26 16% 19% 22% 25% 28%
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TTM Total Revenue: Europe 42% CAGR over 4 years TTM Europe Revenue Growth TTM Q2ʼ22 TTM Q2ʼ23 TTM Q2ʼ24 TTM Q2ʼ25 TTM Q2ʼ26
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Retention Rates Remain Strong Net retention rate includes revenue from up-selling or cross-selling additional solutions, and pricing changes for existing customers and securing multi-year contract renewals containing periodic pricing term increases. This metric has previously been referred to as “Revenue Retention with Add-ons.” The calculation is the same. 96%+ GRR 110%+ NRR
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Retention Rates Remain Strong Additional Solutions Growth Within Solutions Pricing & Packaging Net retention rate includes revenue from up-selling or cross-selling additional solutions, and pricing changes for existing customers and securing multi-year contract renewals containing periodic pricing term increases. This metric has previously been referred to as “Revenue Retention with Add-ons.” The calculation is the same. 110%+ NRR 96%+ GRR
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Our Customers Continue to Grow with Us 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Annual Subscription Revenue by Cohort (Year Customer Originated) 2010 $800M $600M $400M $200M 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 16% 12% 11% 11% 11% 11% 11% 10% 10% 10% 10% 10% 12% 14% 23% Subscription Revenue CAGR
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Growth in Large ACV Customers 23% CAGR over 4 years >$100K ACV 36% CAGR over 4 years >$300K ACV 35% CAGR over 4 years >$500K ACV 1,186 Q2ʼ22 1,470 Q2ʼ23 1,768 Q2ʼ24 2,241 Q2ʼ25 2,690 Q2ʼ26 194 Q2ʼ22 272 Q2ʼ23 356 Q2ʼ24 488 Q2ʼ25 656 Q2ʼ26 84 Q2ʼ22 118 Q2ʼ23 154 Q2ʼ24 208 Q2ʼ25 276 Q2ʼ26
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Growth in Large ACV Customers: > $1M ACV Growth in Large ACV Customers: >$1M ACV 36% CAGR over 4 years 24 Q2ʼ22 30 Q2ʼ23 40 Q2ʼ24 60 Q2ʼ25 81 Q2ʼ26
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$600K+ >$300k ACV Cohort $1M+ >$500k ACV Cohort $250K+ >$100k ACV Cohort $1.5M+ >$1M ACV Cohort Average Annual Contract Value is Growing 2026
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40% Growth over 3 years Annual Contract Value is Increasing Q2‘23 Q2‘24 Q2‘25 Q2‘26
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Drivers of Margin Expansion
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FCF Increases as Margin Increases Ready for Design ReviewReady to Work Operating Margin is Expanding TTM Q2‘22 TTM Q2‘23 TTM Q2‘24 TTM Q2‘25 TTM Q2‘26 20% 15% 10% 5% 0% TTM Q2 ‘22 TTM Q2 ‘23 TTM Q2 ‘24 TTM Q2 ‘25 TTM Q2 ‘26 2% 2% 4% 4% 17% 5% 6% 9% 13% 21% 0% (2)% 4% 4% 17% Non-GAAP Operating Margin
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Productivity Fuels Growth Growth Productivity
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Operational rigor AI-enabled productivity Disciplined investment Strong leadership team and organizational capability Executing from Strength
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Gross Margin Leverage Increasing Subscription Mix Higher margin subscription revenue is a growing mix of total revenue +2 pts Support Evolution Digital-first engagement with customers LLM Optimization Contract terms, model usage and pricing 2026-2030 Margin Improvement
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Purchased through broader infrastructure contracts The right model for the right job Value-based pricing aligns spend with usage Ready for Design Review LLM Optimization Ready to Work LLM Optimization Purchased through broader infrastructure contracts The right model for the right job Value-based pricing aligns spend with usage
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R&D Leverage Increased Productivity Agentic coding tools; AI changes the economics of innovation +2 pts Leaner Workforce Profile Team quality over quantity as the platform matures 2026-2030 Margin Improvement
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S&M Leverage Platform Selling Selling the full platform, optimizing overlay and sales support model, maximizing sales productivity +3 pts AI Efficiency AI in workflows enables more focused selling, reduces friction and accelerates cycle times Partner Leverage A growing share of business is partner-sourced; higher deal values and conversion rates 2026-2030 Margin Improvement
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G&A Leverage AI Efficiency Automation structurally reduces manual workflows +1 pt Scale Getting more output for every dollar we spend. Headcount scales with purpose. 2026-2030 Margin Improvement
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Stock Based Compensation Moderated Headcount Growth Natural leverage as we add less human capital Disciplined Approach Still important for talent; intentional approach to allocation and structural design +1 pt 2026-2030 Margin Improvement
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FlowStrong Free Cash
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FCF Margin Trending Ahead of Operating Margin TTM Q2‘22 TTM Q2‘23 TTM Q2‘24 TTM Q2‘25 TTM Q2‘26 6% 6% 9% 13% 21% 0% (2)% 4% 4% 17% FCF Margin Non-GAAP Operating Margin
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Growing Free Cash Flow Gives Us Flexibility TTM Q2‘22 TTM Q2‘23 TTM Q2‘24 TTM Q2‘25 TTM Q2‘26 $201M $103M $63M $32M$30M
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Ready for Design Review Capital Allocation
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FCF Fuels Responsible Capital Allocation Invest in organic growth Strategic M&A Return capital
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Share Repurchase Program Offset Dilution from Stock-based Compensation Opportunistic Additional Repurchase FY‘25 ~850k ~3.3M 1H‘26 4x Increase in shares repurchased
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Execution and Financial Discipline Drive 2030 Targets
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2030 Target Model Gross margin Research & development Sales & marketing General & administrative Non-GAAP operating margin Stock-based compensation REFER TO NONGAAP RECONCILIATION SLIDES FOR ADDITIONAL INFORMATION. FIGURES HAVE BEEN ROUNDED FOR PRESENTATION PURPOSES. DISCREPANCIES MAY OCCUR DUE TO ROUNDING. 2024A 78% 23% 42% 9% 4% 14% 2025A 81% 21% 41% 9% 10% 14% 2026E ~83% ~19% ~39% ~7% ~18% ~12% 2030 Target ~85% ~17% ~36% ~6% ~26% ~11% Total Revenue $1.040–1.044B ~$1.8–$2.0B Percentage of Revenue, non-GAAP $739M $885M
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Workiva is executing from a position of strength Proven durable growth Strong retention Expanding Margin Story: Operational discipline, AI-driven productivity Global growth opportunity Expanding solution set & AI monetization strategy Growth & productivity fuel one another AI Amplifies the Opportunity for Workiva 96%+ GRR 110%+ NRR
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Thank Y ou
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Q&A
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Non-GAAP Reconciliation
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Reconciliation of GAAP to Non-GAAP FIGURES HAVE BEEN ROUNDED FOR PRESENTATION PURPOSES. DISCREPANCIES MAY OCCUR DUE TO ROUNDING. 2024A Gross Margin 77% 2026E 81% 2025A 78% Add back: Stock-based compensation 2% 2% 2% Gross Margin, non-GAAP 78% 83%81% Research and development 26% 22%24% Less: Stock-based compensation 3% 3%3% Research and development, non-GAAP 23% 19%21% Sales and marketing 47% 43%46% Sales and marketing, non-GAAP 42% 39%41% General and administrative 14% 10%13% Less: Stock-based compensation 5% 3%4% General and administrative, non-GAAP 9% 7%9% (Loss) / Income from operations (10)% 6%(5)% Add back: Stock-based compensation 14% 12%14% Add back: Amortization of acquisition-related intangibles 1% 1%1% (Loss) income from operations, non-GAAP 4% 18%10% Less: Stock-based compensation 5% 4%5%
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Reconciliation of GAAP to Non-GAAP FIGURES HAVE BEEN ROUNDED FOR PRESENTATION PURPOSES. DISCREPANCIES MAY OCCUR DUE TO ROUNDING. TTM Q2ʼ22 Net cash provided by operating activities $33M TTM Q2ʼ24 $64M TTM Q2ʼ23 $35M Purchase of property and equipment $(3)M $(2)M$(3)M Free Cash Flow $30M $63M$32M Operating cash flow margin 7% 9%6% Free cash flow margin 6% 9%6% TTM Q2ʼ26 $202M TTM Q2ʼ25 $106M $(1)M$(3)M $201M$103M 21%13% 21%13%