WORKIVA INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 20, 2024
WK$67.16-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| WORKIVA INC.CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
|---|---|---|---|
| (in thousands) | |||
| Year ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(127,525) | $(90,947) | $(37,730) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 11,140 | 10,212 | 5,244 |
| Stock-based compensation expense | 98,765 | 70,660 | 48,633 |
| Provision for (recovery of) doubtful accounts | 410 | 156 | (125) |
| (Accretion) amortization of premiums and discounts on marketable securities, net | (7,716) | 1,079 | 3,024 |
| Amortization of debt discount and issuance costs | 1,730 | 1,298 | 9,171 |
| Induced conversion expense | 45,144 | — | — |
| Realized loss on sale of available-for-sale securities, net | 708 | — | — |
| Gain on settlement of equity securities | — | — | (3,698) |
| Deferred income tax | (14) | 538 | (1,973) |
| Changes in assets and liabilities: | |||
| Accounts receivable | (18,318) | (28,893) | (7,683) |
| Deferred costs | 277 | (8,496) | (19,207) |
| Operating lease right-of-use asset | 4,984 | 5,153 | 4,197 |
| Other receivables | (2,176) | (1,655) | (391) |
| Prepaid expenses and other | (5,023) | (2,913) | (6,522) |
| Other assets | 2,230 | (2,441) | (1,222) |
| Accounts payable | (1,002) | 2,438 | 972 |
| Deferred revenue | 60,112 | 61,657 | 47,419 |
| Operating lease liability | (4,133) | (5,055) | (4,934) |
| Accrued expenses and other liabilities | 11,282 | (1,457) | 14,669 |
| Net cash provided by operating activities | 70,875 | 11,334 | 49,844 |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (2,124) | (3,458) | (3,534) |
| Purchase of marketable securities | (573,304) | (130,754) | (170,070) |
| Maturities of marketable securities | 153,358 | 150,565 | 143,159 |
| Sale of marketable securities | 65,052 | 14,981 | 250 |
| Acquisitions, net of cash acquired | — | (99,186) | (37,467) |
| Purchase of intangible assets | (235) | (160) | (219) |
| Other investments | — | — | (750) |
| Net cash used in investing activities | (357,253) | (68,012) | (68,631) |
| WORKIVA INC.CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) | |||
|---|---|---|---|
| (in thousands) | |||
| Year ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash flows from financing activities | |||
| Proceeds from option exercises | 4,472 | 3,273 | 16,600 |
| Taxes paid related to net share settlements of stock-based compensation awards | (9,459) | (12,541) | (27,144) |
| Proceeds from shares issued in connection with employee stock purchase plan | 12,513 | 9,256 | 8,861 |
| Proceeds from the issuance of convertible senior notes, net of issuance costs | 691,113 | — | — |
| Payments for repurchase of convertible senior notes | (396,869) | — | — |
| Principal payments on finance lease obligations | (505) | (1,575) | (1,705) |
| Net cash provided by (used in) financing activities | 301,265 | (1,587) | (3,388) |
| Effect of foreign exchange rates on cash | 1,637 | (1,924) | (270) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 16,524 | (60,189) | (22,445) |
| Cash, cash equivalents, and restricted cash at beginning of year | 240,197 | 300,386 | 322,831 |
| Cash, cash equivalents, and restricted cash at end of year | $256,721 | $240,197 | $300,386 |
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental cash flow disclosure | |||
| Cash paid for interest | $4,710 | $4,742 | $4,837 |
| Cash paid for income taxes, net of refunds | $2,656 | $1,429 | $(41) |
| Noncash investing and financing activities | |||
| Purchases of property and equipment, accrued but not paid | $— | $— | $350 |
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | |||
| Cash and cash equivalents at end of period | $256,100 | $240,197 | $300,386 |
| Restricted cash included within prepaid expenses and other at end of period | 621 | — | — |
| Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows | $256,721 | $240,197 | $300,386 |
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