Workiva inc (WK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities
Net loss

-10,573

-16,298

-16,051

-8,322

-7,463

-7,721

-10,964

-21,768

-9,618

-14,321

-14,073

-10,196

-5,836

-7,516

-12,891

-11,525

-12,045

-10,293

-14,630

-11,029

-7,447

-12,657

-13,382

-10,563

-4,552

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization

1,142

1,228

1,058

971

903

900

1,133

876

872

934

854

867

891

904

944

975

997

1,056

1,058

1,127

1,169

1,125

1,132

852

768

Stock-based compensation expense

9,936

9,855

9,223

8,513

8,193

7,522

6,949

10,465

5,905

6,276

4,664

4,397

4,139

3,685

3,670

3,502

3,390

3,124

3,082

2,620

2,174

1,846

1,413

2,169

1,957

Provision for (recovery of) doubtful accounts

40

-34

-104

233

-187

239

128

139

44

-258

-691

146

286

107

-92

48

122

101

222

52

74

-5

104

-100

124

Realized gain on sale of available-for-sale securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4

2

6

7

0

0

-

0

-136

-

Accretion of discount on convertible note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

133

-

-

Paid-in-kind interest on convertible note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58

-

-

Change in fair value of derivative liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-48

-

-

Amortization (accretion) of premiums and discounts on marketable securities, net

-101

-102

-15

23

81

78

66

15

-18

-18

-24

-28

-31

-36

-36

-36

-39

-45

-32

0

0

-

0

-

-

Amortization of debt discount and issuance costs

2,197

-

1,083

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax

0

2

-21

-28

-18

-5

-4

0

0

-

0

-

-

-

5

-12

-

-

0

0

-

-

-

-

-

Recognition of deferred government grant obligation

-

-

-

-

-

-

-

-

-

635

207

198

538

231

247

230

433

1,875

236

206

66

48

39

12

0

Changes in assets and liabilities:
Accounts receivable

-14,265

16,364

-3,579

-3,133

-14,818

24,831

1,691

236

-6,542

4,247

757

3,228

-2,686

367

4,009

1,844

881

3,632

-47

584

911

-18

1,794

-3,854

-524

Deferred commissions

-603

2,300

2,106

3,833

2,029

5,547

1,939

2,020

1,649

168

179

149

2

761

-135

-117

-12

-416

-217

-32

145

-142

-201

-178

-32

Operating lease right-of-use asset

-1,098

-

-

-

-668

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease right-of-use asset

-1,098

-747

-581

-556

-668

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other receivables

253

780

417

-161

214

-211

591

-148

-27

-134

-468

865

-840

285

365

-142

224

-133

44

424

188

85

-108

-74

-58

Prepaid expenses and other

1,955

-1,653

191

310

3,236

-1,308

-2,501

2,020

-231

145

-5,123

2,830

-804

4,415

-415

1,327

186

595

218

65

-144

1,309

-231

347

826

Other assets

74

-489

943

-58

1,464

-833

389

110

58

-692

87

-36

23

-187

455

323

63

85

-72

-38

-56

-113

201

0

-36

Accounts payable

-1,382

1,993

516

1,206

-1,562

-300

616

-1,294

2,677

1,198

669

-678

1,017

-4,310

279

797

-696

55

857

1,262

157

-1,901

1,727

1,002

-2,358

Deferred revenue

-1,228

17,927

3,830

8,295

1,987

25,112

8,630

8,747

-2,345

4,969

5,904

14,398

4,096

18,799

13,228

5,399

-3,215

3,769

1,686

2,514

-672

4,444

3,211

5,156

7,150

Operating lease liability

-1,145

-809

-758

-813

-655

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other liabilities

-8,023

2,397

5,403

8,966

-4,541

1,938

3,269

4,542

-863

-675

3,474

2,254

-5,811

3,616

2,410

447

-5,869

3,658

3,578

2,046

-3,892

3,529

2,826

2,139

-1,357

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-73

-28

0

0

0

-54

Net cash provided by operating activities

4,749

1,987

4,697

18,763

5,119

-419

7,582

-2,546

1,783

-6,228

5,186

3,982

2,580

9,952

2,793

-4,036

-19,078

-5,037

-4,718

-2,608

-9,229

-4,607

-4,626

4,182

1,546

Cash flows from investing activities
Purchase of property and equipment

688

244

663

454

1,743

380

523

210

9

54

987

26

121

801

91

597

412

184

629

159

871

522

2,768

3,526

1,750

Purchase of marketable securities

20,832

17,099

54,749

18,562

22,155

6,935

6,441

11,283

0

3,002

5,017

2,259

4,091

499

0

802

0

-

15,692

0

-

-

0

-

-

Sale of marketable securities

11,423

-

498

-

0

-

0

-

-

-

-

-

-

0

0

2,404

4,793

3,509

3,012

0

0

-

0

4,864

-

Maturities of marketable securities

12,975

6,450

1,500

11,500

7,390

11,400

4,600

3,900

500

1,600

2,830

1,850

3,001

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of intangible assets

77

22

51

577

84

77

46

64

64

53

55

58

31

38

38

59

55

42

66

195

83

157

121

98

18

Other investments

-

-

1,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

2,801

-10,915

-54,465

-8,093

-16,592

4,008

-2,410

-7,657

427

-1,509

-3,229

-493

-1,242

-1,338

-129

946

4,326

-5,094

-13,375

-354

-954

-679

-2,889

1,240

-1,768

Cash flows from financing activities
Proceeds from option exercises

2,794

1,659

5,940

5,498

11,055

2,735

7,534

3,318

3,075

5,816

1,154

4,709

806

237

840

236

284

749

1,062

353

80

217

158

187

18

Taxes paid related to net share settlements of stock-based compensation awards

1,379

0

0

0

390

0

0

519

1,342

189

0

0

936

0

0

0

761

0

0

0

0

-

-

-

-

Proceeds from shares issued in connection with employee stock purchase plan

3,660

0

2,773

0

2,149

0

1,846

0

1,370

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment of equity issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

273

1,073

-57

57

0

0

Proceeds from the issuance of convertible senior notes, net of issuance costs

-

-

335,899

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

300

25

0

-300

0

Repayment of other long-term debt

-

-

-

-

-

-

-

-

-

-

53

20

-

-

0

18

-

0

17

42

25

2,167

96

48

54

Principal payments on financing obligations

320

-

306

-

294

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on capital lease obligations

-

-

-

301

-

284

287

294

298

300

348

490

297

417

538

476

432

599

522

483

678

557

316

294

171

Distributions to members

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

35

-

-

17

34

-

Proceeds from borrowings on line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,000

8

12

Proceeds from government grants

-

-

0

0

-

-

0

22

-

-

0

22

-

0

0

0

183

0

235

0

313

-

-

-

-

Proceeds from government for training reimbursement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56

4

134

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

71

10

-

-

0

33

-

-

0

0

-

-

99

-

-

Repayment of line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,038

-

Government grant awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,000

Net cash provided by financing activities

4,755

1,347

344,306

5,197

12,520

2,451

9,093

2,527

2,805

5,356

682

4,211

-427

-180

302

-291

-726

-297

758

-480

-1,083

86,102

7,629

-2,515

1,939

Effect of foreign exchange rates on cash

-613

199

-127

110

105

-299

83

-85

-92

-4

93

82

12

5

-9

40

-46

84

-3

-19

28

40

26

-29

25

Net increase in cash and cash equivalents

11,692

-7,382

294,411

15,977

1,152

5,741

14,348

-7,761

4,923

-2,385

2,732

7,782

923

8,439

2,957

-3,341

-15,524

-10,344

-17,338

-3,461

-11,238

80,856

140

2,878

1,742

Supplemental cash flow disclosure
Cash paid for interest

2,320

398

408

422

464

430

436

435

433

434

447

448

298

443

600

470

322

641

488

496

423

668

499

258

253

Cash paid for income taxes, net of refunds

159

30

80

28

233

11

0

54

2

-1

2

27

14

25

-26

40

8

64

0

0

0

-

-

-

-

Supplemental disclosure of noncash investing and financing activities
Fixed assets acquired through financing obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

350

3,128

Fixed assets acquired through capital lease arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

343

184

223

389

617

448

Accrued distributions to members

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

60

-

0

-

0

Initial public offering cost accruals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,248

-

-

Allowance for tenant improvements

124

270

0

0

0

912

1,153

105

22

0

0

0

0

0

80

215

186

0

0

0

698

1,301

0

0

0

Purchases of property and equipment, accrued but not paid

-

-

0

444

-

753

105

254

175

0

0

0

0

-652

505

82

65

354

0

0

0

-

-

-

-