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WK · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Workiva Inc. (WK) stock moving?
Workiva's Q3 2026 print on Nov 5 was mixed: revenue of $263.0M beat the $261.4M estimate, but adjusted EPS of $0.72 missed the $0.80 consensus. The main negative was guidance. Q4 adjusted EPS was guided to $0.78-$0.80 versus a $1.02 estimate, and full-year adjusted EPS was cut to $2.80-$2.83 from $3.38-$3.39. Q4 sales guidance of $275M-$278M sits near consensus, and full-year sales guidance was nudged up to $1.041B-$1.044B, while full-year GAAP EPS was raised to $1.31-$1.34. The market reacted sharply. The stock closed at $85.50 on Nov 5 and fell 14.9% to $72.76 on Nov 6 on about 2.54M shares, roughly three times the typical daily volume of 0.7M-0.8M. It kept sliding to $69.78 on Nov 9 and $67.16 on Nov 10, with volume still elevated near 1.5M-1.6M per day. The Nov 10 close is about 21% below the Nov 5 close and below the lowest intraday price of the prior month ($80.23 on Oct 22). Before the report, the stock had traded in a tight $80-$88 range. The guidance reset is the dominant fact for the next few weeks, and the lack of stabilization so far keeps near-term pressure on the stock. Offsetting points are the sales beat and the raised GAAP EPS outlook, which may limit downside over a longer period.
News behind the analysis
- Workiva Q3 2026 Earnings Call TranscriptWorkiva reported third-quarter 2026 results on Nov 5, and the earnings call transcript was published the same day.
- Workiva Inc. Reports Q3 2026 Financial Results and Provides GuidanceWorkiva reported Q3 2026 revenue of $263.0M and adjusted EPS of $0.72, and updated its fourth-quarter and full-year guidance.
- Workiva Lowers FY2026 Adj EPS Guidance from $3.38-$3.39 to $2.80-$2.83 vs $3.37 Est; Raises FY2026 Sales Guidance from $1.040B-$1.044B to $1.041B-$1.044B vs $1.042B EstFull-year adjusted EPS guidance was cut by roughly 17% at the midpoint, while the full-year sales range was nudged up slightly.
- Workiva Raises FY2026 GAAP EPS Guidance from $1.21-$1.22 to $1.31-$1.34 vs $1.23 EstFull-year GAAP EPS guidance was raised to $1.31-$1.34, above the $1.23 consensus estimate.
- Workiva Sees Q4 GAAP EPS $0.40-$0.42 vs $0.43 EstFourth-quarter GAAP EPS guidance of $0.40-$0.42 sits slightly below the $0.43 consensus.
- Workiva Sees Q4 Adj EPS $0.78-$0.80 vs $1.02 Est; Sees Sales $275.000M-$278.000M vs $278.037M EstQ4 adjusted EPS guidance of $0.78-$0.80 is well below the $1.02 consensus, while Q4 sales guidance sits near the $278.0M estimate.
- Workiva Q3 Adj. EPS $0.72 Misses $0.80 Estimate, Sales $263.000M Beat $261.445M EstimateQ3 adjusted EPS of $0.72 missed the $0.80 estimate, while sales of $263.0M beat the $261.4M estimate.
About Workiva Inc.
Workiva, based in Ames, Iowa, makes a cloud platform that accounting, finance, sustainability, risk and audit teams use to put together and file regulatory reports, such as SEC filings, financial statements and ESG disclosures. More than 6,700 organizations use it, including over 85% of Fortune 1000 companies. What sets it apart is that report numbers link straight back to source data, which makes the work audit-ready. The company is also adding AI agents to the platform.
How it makes money
Almost all of Workiva's revenue comes from annual and multi-year software subscriptions. In Q2 2026, subscription and support made up about 92% of revenue (roughly $236M of $255M). The rest came from professional services such as setup and consulting. Total revenue grew about 19% from a year earlier, and management expects revenue to reach about $1B for 2026.
What usually moves WK
- Subscription revenue growth and customer expansion
- Operating margin expansion and free cash flow
- Regulatory reporting and ESG disclosure requirements
- AI product adoption and competitive pressure from AI
- Software-sector valuation sentiment