WORKIVA INC

Previous wording

The Workiva platform powers trust, transparency, and accountability. Accounting, finance, sustainability, risk, and audit teams from more than 6,600 organizations worldwide, including over 85% of FORTUNE® 1,000 companies, rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, AI-powered, collaborative platform.

Current wording

The Workiva platform powers trust, transparency, and accountability. Accounting, finance, sustainability, risk, and audit teams from more than 6,700 organizations worldwide, including over 85% of FORTUNE® 1,000 companies, rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, collaborative platform.

Previous wording

We continue to invest in the development of our solutions, infrastructure and sales and marketing to drive long-term growth. Our full-time employee headcount expanded to 2,880 at March 31, 2026 from 2,873 at March 31, 2025, an increase of 0.2%.

Current wording

We continue to invest in the development of our solutions, infrastructure and sales and marketing to drive long-term growth. Our full-time employee headcount was 2,887 at June 30, 2026, a slight decrease from 2,896 at June 30, 2025.

Previous wording

We continue to invest for future growth and are focused on several key drivers, including our connected AI-powered platform, fit-for-purpose solutions, global expansion, and our partner ecosystem. These growth drivers often require a more sophisticated go-to-market approach and, as a result, we may incur additional costs upfront to obtain new customers and expand our relationships with existing customers, including additional sales and marketing expenses.

Current wording

We continue to invest for future growth and are focused on several key drivers, including our connected audit-ready platform, fit-for-purpose solutions, global expansion, and our partner ecosystem. These growth drivers often require a more sophisticated go-to-market approach and, as a result, we may incur additional costs upfront to obtain new customers and expand our relationships with existing customers, including additional sales and marketing expenses.

Previous wording

Sales of our sustainability management solutions have been, and may continue to be, materially impacted by domestic and global policy uncertainties. Shifts in regulatory priorities, market sentiment, and legal challenges to sustainability-related rules and regulations are affecting our market expansion opportunities in the U.S. and abroad. For example, on February 25, 2025, the European Commission unveiled the first “Omnibus” package to advance EU competitiveness and simplification of rules on sustainability. Among other measures, the package proposed streamlining key sustainability frameworks. On December 16, 2025, the European Parliament adopted the Omnibus Directive, which is part of the first Omnibus simplification package. The Council of the European Union formally adopted the resulting directive on February 24, 2026, and the Omnibus Directive was published in the Official Journal of the European Union on February 26, 2026, entering into force on March 18, 2026. The Omnibus Directive revises scoping thresholds, removes the climate transition plan requirement, and implements targeted amendments across the Corporate Sustainability Reporting Directive (“CSRD”). The adoption resulted in substantive amendments to the CSRD. We believe that the revised thresholds under these amendments have influenced the pace of customer adoption of our sustainability solutions. The potential impact on our growth trajectory of these changes, and of global policy uncertainty generally, cannot be accurately predicted.

Current wording

Sales of our sustainability management solutions have been, and may continue to be, materially impacted by domestic and global policy uncertainties. Shifts in regulatory priorities, market sentiment, and legal challenges to sustainability-related rules and regulations are affecting our market expansion opportunities in the U.S. and abroad. For example, the EU's Omnibus Directive, which revises CSRD scoping thresholds, removes the climate transition plan requirement, and implements other targeted amendments to the CSRD, entered into force on March 18, 2026. The status of implementing these amendments varies by EU Member States. This variability, together with a mandated EU scope-review process that could result in further recalibration of CSRD applicability in future years, has contributed to uncertainty among our customers regarding their compliance obligations and has influenced the pace of customer adoption of our sustainability solutions. The potential impact on our growth trajectory of these changes, and of global policy uncertainty generally, cannot be accurately predicted.

Previous wording

Ongoing regulatory initiatives, including proposed changes to SEC reporting requirements intended to reduce burdens on public companies and enhance the attractiveness of capital markets, such as a potential shift in reporting frequency, could affect the performance of certain of our businesses. These developments may have positive or negative impacts on our business, but the scope and timing of any effects remain uncertain. We continue to monitor regulatory developments and assess potential effects across our business. The full scope of these potential regulatory developments, and their implications for our financial performance, cannot be predicted accurately at this time.

Current wording

These developments may have positive or negative impacts on our business, but the scope and timing of any effects remain uncertain. We continue to monitor regulatory developments and assess potential effects across our business. The full scope of these potential regulatory developments, and their implications for our financial performance, cannot be predicted accurately at this time.

Previous wording

Investment in growth. We plan to continue to invest in the development of our platform, fit-for-purpose solutions and application marketplace to enhance our current offerings and build new features. In addition, we expect to continue to invest in our sales, marketing, professional services and customer success organizations to drive additional revenue and support the needs of our growing customer base and to take advantage of opportunities that we have identified in Europe, the Middle East and Africa ("EMEA") and Asia-Pacific ("APAC") regions.

Current wording

Investment in growth. We plan to continue to invest in the development of our platform, fit-for-purpose solutions and application marketplace to enhance our current offerings and build new features. For example, we are transforming our platform to be agentic-first where agents will enable customers to accelerate reporting and compliance outcomes with the control and traceability of the Workiva platform. In addition, we expect to continue to invest in our sales, marketing, professional services and customer success organizations to drive additional revenue and support the needs of our growing customer base and to take advantage of opportunities that we have identified in Europe, the Middle East and Africa ("EMEA") and Asia-Pacific ("APAC") regions.

Previous wording

Total customers. We believe total number of customers is a key indicator of our financial success and future revenue potential. We define a customer as an entity with an active subscription contract as of the measurement date. We define a customer as a separate and distinct buying entity, such as a company, a government institution, or a distinct business unit of a large company that has an active contract with us or one of our partners to access our platforms. Companies with publicly-listed securities account for a majority of our customers. As customers acquired through our Sustain.Life acquisition in 2024 renew their contracts with Workiva, they are added to our customer count above.

Current wording

Total customers. We believe total number of customers is a key indicator of our financial success and future revenue potential. We define a customer as a separate and distinct buying entity, such as a company, a government institution, or a distinct business unit of a large company that has an active subscription contract with us or one of our partners to access our platforms as of the measurement date. Companies with publicly-listed securities account for a majority of our customers. As customers acquired through our Sustain.Life acquisition in 2024 renew their contracts with Workiva, they are added to our customer count above.

Previous wording

Our gross retention rate was 97.3% as of March 31, 2026, flat from March 31, 2025. We believe that our success in maintaining a high rate of revenue retention is attributable primarily to our robust technology platform and strong customer service. Customers whose securities were deregistered due to merger or acquisition or financial distress accounted for over half of our revenue attrition in the latest quarter.

Current wording

Our gross retention rate was 97.3% as of June 30, 2026, relatively flat from June 30, 2025. We believe that our success in maintaining a high rate of revenue retention is attributable primarily to our robust technology platform and strong customer service. Customers whose securities were deregistered due to merger or acquisition or financial distress accounted for over half of our revenue attrition in the latest quarter.

Previous wording

Our net retention rate including add-ons was 112.4% as of the quarter ended March 31, 2026, up from 110.1% as of March 31, 2025.

Current wording

Our net retention rate including add-ons was 110.5% as of the quarter ended June 30, 2026, down from 113.7% as of June 30, 2025.

Previous wording

We generate revenue through the sale of subscriptions to our cloud-based software and the delivery of professional services. We serve a wide range of customers in many industries, and our revenue is not concentrated with any single customer or small group of customers. For the three months ended March 31, 2026 and 2025, no single customer represented more than 1% of our revenue, and our largest 10 customers accounted for less than 10% of our revenue in the aggregate.

Current wording

We generate revenue through the sale of subscriptions to our cloud-based software and the delivery of professional services. We serve a wide range of customers in many industries, and our revenue is not concentrated with any single customer or small group of customers. For the six months ended June 30, 2026 and 2025, no single customer represented more than 1% of our revenue, and our largest 10 customers accounted for less than 10% of our revenue in the aggregate.

Previous wording

Comparison of Three Months Ended March 31, 2026 and 2025

Current wording

Comparison of Three and Six Months Ended June 30, 2026 and 2025

Previous wording

Total revenue increased $41.0 million for the three months ended March 31, 2026 compared to the same quarter a year ago due to a $39.8 million increase in subscription and support revenue. Growth in subscription and support revenue in the first quarter was attributable mainly to strong demand and continued solution expansion across our customer base. Revenue from professional services increased $1.2 million for the three months ended March 31, 2026 compared to the same quarter a year ago primarily due to XBRL services. We continue to transition consulting and other services to our partners and expect the revenue growth rate from subscription and support to continue to outpace revenue growth from professional services on an annual basis.

Current wording

Total revenue increased $81.1 million for the six months ended June 30, 2026 compared to the same period a year ago due to a $77.9 million increase in subscription and support revenue. Growth in subscription and support revenue was attributable mainly to strong demand and continued solution expansion across our customer base. Revenue from professional services increased $3.2 million for the six months ended June 30, 2026 compared to the same period a year ago primarily due to XBRL services. We continue to transition consulting and other services to our partners and expect the revenue growth rate from subscription and support to continue to outpace revenue growth from professional services on an annual basis.

Previous wording

Cost of revenue increased $0.2 million during the three months ended March 31, 2026 compared to the same quarter a year ago. Subscription and support cost of revenue increased $1.1 million due primarily to $0.2 million in higher cash-based compensation and benefits costs, $0.4 million of additional stock-based compensation, and a $0.4 million increase in the cost of licensed platform content. The change in compensation was primarily driven by normal compensation increases for existing headcount and was partially offset by reduced expenses of $0.8 million recognized as a result of our transition from a paid-time-off (“PTO”) model to a flexible-time-off (“FTO”) model which was announced in the second half of 2025 and became effective in 2026 as well as a benefit of $0.4 million for a change in the timing of employer 401(k) match contributions in 2026. The increase in the cost of licensed platform content resulted primarily from our continued investment in and support of our platform and solutions. Professional services cost of revenue decreased $0.9 million due primarily to a $0.9 million decrease in cash-based compensation and benefits costs partially offset by $0.2 million of additional stock-based compensation. The change in compensation was primarily driven by reduced expenses of $0.5 million recognized as a result of our transition from a PTO model to a FTO model as well as a benefit of $0.2 million for a change in the timing of employer 401(k) match.

Current wording

Cost of revenue increased $0.7 million during the six months ended June 30, 2026 compared to the same period a year ago. Subscription and support cost of revenue increased $2.6 million due primarily to $0.9 million in higher cash-based compensation and benefits costs, $1.0 million of additional stock-based compensation, a $0.8 million increase in the cost of licensed platform content, and a $0.6 million increase in the cost of cloud infrastructure services partially offset by a $0.6 million decrease in travel expense. The change in compensation was primarily driven by normal compensation increases for existing headcount and was partially offset by reduced expenses of $1.1 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026 as well as a benefit of $0.3 million for a change in the timing of employer 401(k) match contributions in 2026. The increases in the cost of licensed platform content and cloud infrastructure services resulted primarily from our continued investment in and support of our platform and solutions. Professional services cost of revenue decreased $1.9 million due primarily to a $1.7 million decrease in cash-based compensation and benefits costs partially offset by $0.3 million of additional stock-based compensation. The change in compensation was primarily driven by our continued transition of consulting and other services to our partners and reduced expenses of $0.8 million recognized as a result of our transition from a PTO model to a FTO model, partially offset by normal compensation increases for existing headcount.

Previous wording

Research and development expenses decreased $0.9 million during the three months ended March 31, 2026 compared to the same quarter a year ago due primarily to a $0.3 million decrease in cash-based compensation and benefits costs, a $0.3 million decrease in travel expense, and a $0.6 million decrease in internal event costs partially offset by $0.4 million of additional stock-based compensation and a $0.5 million increase in professional service fees. The change in compensation was primarily driven by a modest increase in employee headcount and was offset by reduced expenses of $2.0 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026 as well as a benefit of $0.6 million for a change in the timing of employer 401(k) match contributions in 2026. The decrease in travel expense and internal event costs relates to our annual research and development event which spanned the first and second quarters of 2025 but will be held in the second quarter of 2026. The increase in professional service fees resulted primarily from our continued investment in and support of our platform and solutions.

Current wording

Research and development expenses increased $2.7 million during the three months ended June 30, 2026 compared to the same quarter a year ago due primarily to $0.4 million in higher cash-based compensation and benefits costs, a $0.9 million increase in professional service fees, a $0.9 million increase in software expense, and a $0.6 million increase in internal event costs. The change in compensation was primarily driven by normal compensation increases for existing headcount and was partially offset by reduced expenses of $0.7 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026. The increases in professional service fees and software expense resulted primarily from our continued investment in and support of our platform and solutions. The increase in internal event costs relates to our annual research and development event which spanned the first and second quarters of 2025 but was held in the second quarter of 2026.

Previous wording

Sales and marketing expenses increased $2.8 million during the three months ended March 31, 2026 compared to the same quarter a year ago due primarily to $3.6 million in higher cash-based compensation and benefits costs, a $0.7 million increase in marketing and advertising, and a $0.5 million increase in professional service fees partially offset by a $1.3 million decrease in internal event costs and a $0.7 million decrease in travel expense. The change in compensation was primarily due to an increase in employee headcount and our continued investment in our go-to-market activities and was partially offset by reduced expenses of $2.0 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026 and a benefit of $0.6 million for a change in the timing of employer 401(k) match contributions in 2026.

Current wording

Sales and marketing expenses increased $5.0 million during the three months ended June 30, 2026 compared to the same quarter a year ago due primarily to $3.3 million in higher cash-based compensation and benefits costs, a $1.0 million increase in travel expense, and a $1.3 million increase in internal event costs. The change in compensation was primarily due to an increase in employee headcount and our continued investment in our go-to-market activities and was partially offset by reduced expenses of $1.3 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026.

Previous wording

General and administrative expenses decreased $1.2 million during the three months ended March 31, 2026 compared to the same quarter a year ago due primarily to a $0.9 million decrease in cash-based compensation and benefits costs and a $0.2 million decrease in stock-based compensation. The change in compensation was primarily driven by normal compensation increases for existing headcount and was offset by reduced expenses of $0.9 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026 as well as a benefit of $0.3 million for a change in the timing of employer 401(k) match contributions in 2026.

Current wording

General and administrative expenses decreased $3.0 million during the six months ended June 30, 2026 compared to the same period a year ago due primarily to a $0.7 million decrease in cash-based compensation and benefits costs and a $2.6 million decrease in internal event costs partially offset by $0.2 million of additional stock-based compensation and a $0.4 million increase in professional service fees. The change in compensation was primarily driven by reduced expenses of $1.4 million recognized as a result of our transition from a PTO model to a FTO model which was announced in the second half of 2025 and became effective in 2026 as well as a benefit of $0.3 million for a change in the timing of employer 401(k) match contributions in 2026, partially offset by normal compensation increases for existing headcount. The decrease in internal event costs is due to an internal event held in 2025 that did not recur in 2026.

Previous wording

During the three months ended March 31, 2026, interest income decreased $0.6 million compared to the same quarter a year ago primarily due to lower interest rates. Interest expense remained relatively flat compared to the same quarter a year ago. Other income, net increased $0.6 million compared to the same quarter a year ago due primarily to gains on foreign currency transactions.

Current wording

During the three months ended June 30, 2026, interest income decreased $0.6 million compared to the same quarter a year ago primarily due to lower interest rates. Interest expense remained relatively flat compared to the same quarter a year ago. Other income, net increased $1.3 million compared to the same quarter a year ago due primarily to gains on foreign currency transactions.

Previous wording

As of March 31, 2026, our principal sources of liquidity were cash, cash equivalents and marketable securities totaling $863.4 million, which were held for working capital purposes. We have financed our operations primarily through cash generated from operations and issuances of convertible debt. We have generated significant operating losses as reflected in our accumulated deficit on our condensed consolidated balance sheets. While we may incur operating losses and negative cash flows from operations in the future, we believe that current cash and cash equivalents and cash flows from operating activities will be sufficient to fund our operations for at least the next twelve months.

Current wording

As of June 30, 2026, our principal sources of liquidity were cash, cash equivalents and marketable securities totaling $815.2 million, which were held for working capital purposes. We have financed our operations primarily through cash generated from operations and issuances of convertible debt. We have generated significant operating losses as reflected in our accumulated deficit on our condensed consolidated balance sheets. While we may incur operating losses and negative cash flows from operations in the future, we believe that current cash and cash equivalents and cash flows from operating activities will be sufficient to fund our operations for at least the next twelve months.

Previous wording

In August 2023, we issued $702.0 million aggregate principal amount of our 1.250% 2028 Notes. Proceeds from the issuance of the 2028 Notes totaled $691.1 million, net of initial purchaser discounts and issuance costs. We used $396.9 million of the net proceeds from the 2028 Notes offering to repurchase $273.8 million principal amount, together with accrued and unpaid interest thereon, of our 1.125% 2026 Notes in separate and individually negotiated transactions with certain holders. As of March 31, 2026, we had outstanding debt relating to our 2026 Notes and 2028 Notes of $71.1 million and $696.8 million, with corresponding maturity dates of August 15, 2026 and August 15, 2028, respectively.

Current wording

In August 2023, we issued $702.0 million aggregate principal amount of our 1.250% 2028 Notes. Proceeds from the issuance of the 2028 Notes totaled $691.1 million, net of initial purchaser discounts and issuance costs. We used $396.9 million of the net proceeds from the 2028 Notes offering to repurchase $273.8 million principal amount, together with accrued and unpaid interest thereon, of our 1.125% 2026 Notes in separate and individually negotiated transactions with certain holders. As of June 30, 2026, we had outstanding debt relating to our 2026 Notes and 2028 Notes of $71.2 million and $697.4 million, with corresponding maturity dates of August 15, 2026 and August 15, 2028, respectively.

Previous wording

On August 1, 2024, we announced that on July 30, 2024, our board of directors authorized a share repurchase plan for up to $100.0 million of our outstanding Class A common stock (the “2024 Repurchase Plan”). On February 16, 2026, our board of directors modified the 2024 Repurchase Plan to authorize an additional $250 million of the Company’s outstanding Class A common stock for repurchase under the plan. The timing, manner, price and amount of any repurchases will be determined at the Company’s discretion, and the share repurchase program may be suspended, terminated or modified at any time for any reason. Shares may be repurchased through open market purchases in accordance with the requirements of Exchange Act Rule 10b-18, or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act. As of March 31, 2026, we have repurchased $121.6 million of our Class A common stock under the 2024 Repurchase Plan.

Current wording

On August 1, 2024, we announced that on July 30, 2024, our board of directors authorized a share repurchase plan for up to $100.0 million of our outstanding Class A common stock (the “2024 Repurchase Plan”). On February 16, 2026, our board of directors modified the 2024 Repurchase Plan to authorize an additional $250 million of the Company’s outstanding Class A common stock for repurchase under the plan. The timing, manner, price and amount of any repurchases will be determined at the Company’s discretion, and the share repurchase program may be suspended, terminated or modified at any time for any reason. Shares may be repurchased through open market purchases in accordance with the requirements of Exchange Act Rule 10b-18, or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act. As of June 30, 2026, we have repurchased $244.2 million of our Class A common stock under the 2024 Repurchase Plan.

Previous wording

Our largest source of operating cash is cash collections from customers for subscription and support access to our platform. Our primary uses of cash from operating activities are for personnel-related expenditures, marketing activities, and costs of cloud infrastructure services.

Current wording

Our largest source of operating cash is cash collections from customers for subscription and support access to our platform. Our primary uses of cash from operating activities are for personnel-related expenditures, marketing activities, and costs for software and cloud infrastructure services.

Previous wording

Cash used in operating activities of $7.4 million for the three months ended March 31, 2025 consisted of a net loss of $21.4 million adjusted for non-cash charges of $29.6 million and net cash outflows of $15.6 million from changes in operating assets and liabilities. The decrease in accrued expenses and other liabilities was due in part to a reduction in accrued commissions as we experience higher bookings at year-end driving a reduction the following quarter. The decrease in deferred revenue was driven by the deduction of bookings and timing of billings in the current period.

Current wording

Cash provided by operating activities of $50.3 million for the three months ended June 30, 2025 consisted of a net loss of $19.4 million adjusted for non-cash charges of $30.3 million and net cash inflows of $39.4 million from changes in operating assets and liabilities. The increase in accrued expenses and other liabilities was due in part to timing of accruals and payments. The increase in deferred revenue was driven by an increase in amounts invoiced during the period.

Previous wording

Cash provided by operating activities of $26.5 million for the three months ended March 31, 2026 consisted of net income of $19.0 million adjusted for non-cash charges of $30.2 million and net cash outflows of $22.8 million from changes in operating assets and liabilities. The decrease in deferred revenue was driven by the deduction of bookings and timing of billings in the current period. The decrease in accounts receivable was driven by collections outpacing invoicing driven by the volume of invoicing in the prior period. The decrease in accrued expenses and other liabilities was due in part to timing of accruals and payments.

Current wording

Cash provided by operating activities of $43.0 million for the six months ended June 30, 2025 consisted of a net loss of $40.8 million adjusted for non-cash charges of $59.9 million and net cash inflows of $23.8 million from changes in operating assets and liabilities. The decrease in accounts receivable was due to timing of billings and collections. The decrease in accrued expenses and other liabilities was due in part to timing of accruals and payments.

Previous wording

Cash used in investing activities of $9.1 million for the three months ended March 31, 2025 consisted of $103.0 million in purchases of marketable securities and $0.8 million in purchases of fixed assets partially offset by $94.6 million from the maturities of marketable securities. Our capital expenditures were associated primarily with computer equipment in support of expanding our infrastructure and work force.

Current wording

Cash used in investing activities of $4.3 million for the three months ended June 30, 2025 consisted of $103.0 million in purchases of marketable securities and $1.0 million in purchases of fixed assets partially offset by $99.7 million from the maturities of marketable securities. Our capital expenditures were associated primarily with computer equipment in support of our work force.

Previous wording

Cash provided by investing activities of $21.3 million for the three months ended March 31, 2026 consisted of $114.4 million from the maturities of marketable securities partially offset by $91.5 million in purchases of marketable securities, $0.8 million for acquisitions, net of cash, and $0.7 million in purchases of fixed assets. Our capital expenditures primarily consisted of computer equipment in support of work force.

Current wording

Cash used in investing activities of $13.0 million for the six months ended June 30, 2026 consisted of $214.8 million in purchases of marketable securities, $1.1 million in purchases of fixed assets, and $0.8 million for acquisitions, net of cash, partially offset by $203.7 million from the maturities of marketable securities. Our capital expenditures were associated primarily with computer equipment in support of our work force.

Previous wording

Cash used in financing activities of $50.0 million for the three months ended March 31, 2026 consisted of $50.0 million in repurchases of our Class A common stock under the 2024 Repurchase Plan and $8.7 million in taxes paid related to net share settlements of stock-based compensation awards partially offset by $8.1 million in proceeds from shares issued in connection with our Employee Stock Purchase Plan ("ESPP") and $0.7 million in proceeds from option exercises.

Current wording

Cash used in financing activities of $174.5 million for the six months ended June 30, 2026 consisted of $172.7 million in repurchases of our Class A common stock under the 2024 Repurchase Plan and $10.6 million in taxes paid related to net share settlements of stock-based compensation awards partially offset by $8.1 million in proceeds from shares issued in connection with our Employee Stock Purchase Plan ("ESPP") and $1.1 million in proceeds from option exercises.

Previous wording

Cash used in financing activities of $45.0 million for the three months ended March 31, 2025 consisted of $40.1 million in repurchases of our Class A common stock under the 2024 Repurchase Plan and $12.9 million in taxes paid related to net share settlements of stock-based compensation awards partially offset by $7.5 million in proceeds from shares issued in connection with our ESPP and $0.6 million in proceeds from option exercises.

Current wording

Cash used in financing activities of $53.9 million for the six months ended June 30, 2025 consisted of $50.1 million in repurchases of our Class A common stock under the 2024 Repurchase Plan and $13.5 million in taxes paid related to net share settlements of stock-based compensation awards partially offset by $7.5 million in proceeds from shares issued in connection with our ESPP and $2.4 million in proceeds from option exercises.

Previous wording

During the three months ended March 31, 2026, there were no significant changes to our critical accounting policies and estimates as described in the financial statements contained in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 19, 2026.

Current wording

During the six months ended June 30, 2026, there were no significant changes to our critical accounting policies and estimates as described in the financial statements contained in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 19, 2026.