Workiva Inc. Class A

Good afternoon, ladies and gentlemen. My name is Angela, and I will be your host operator on this call. As for the prepared comments, we will conduct a question and answer session. Instructions will be provided at that time. If at any time during the conference you need to reach an operator, please press star followed by zero. Please note that this call is being recorded on November 4, 2020 at 5 o'clock p.m. Eastern. I would now like to turn the meeting over to your host for today's call, Adam Dries, Director of Corporate Development and Investment Relations of Rokofi. Please go ahead.

Good afternoon, and thank you for joining us for Kiva's third quarter 2020 conference call. Today's call has been prerecorded and will include comments from our Chief Executive Officer, Marty Vander Plauw, followed by our Chief Financial Officer, Stuart Miller. We will then open the call up for a live Q&A session. Jill Foote, our Chief Accounting Officer, is also on the call. A replay of this webcast will be available until November 11th. Information to access the replay is listed in today's press release, which is available on our website under the Investor Relations section. Before we begin, I would like to remind everyone that during today's call, we'll be making forward-looking statements regarding future events and financial performance, including guidance for the fourth quarter and full fiscal year 2020. These forward-looking statements are subject to known and unknown risks and uncertainties. We're keen to caution that these statements are not guarantees of future performance. All forward-looking statements made today reflect our current expectations only, so we undertake no obligation to update any statement to reflect the events that occur after this call. Please refer to the company's annual report on Form 10-K and subsequent filings for factors that could cause our actual results to differ materially from any forward-looking statements. Also, during the course of today's call, we will refer to certain non-GAAP financial measures, Reconciliations of non-GAAP to GAAP measures and certain additional information are also included in today's press release. With that, we'll begin by turning the call over to our CEO, Marty Vanderpaal.

Hello, everyone, and thank you for joining today's call. We made great progress in our third quarter. The global trends of online collaboration and remote work continue to benefit Workiva. Customers use our cloud platform to simplify their complex work by connecting data and teams and by automating and streamlining processes. Financially, we exceeded guidance for revenue and operating income. We delivered more than 20% growth in subscription revenue and generated record bookings. In particular, we saw strong bookings in global statutory reporting, management reporting, and capital markets. As a result, we are raising guidance for the fourth quarter. Stuart will provide details later in the call. In Q3, we continued to upgrade customers to our next generation platform. Customers accounting for over 90% of our annual contract value are now utilizing our new platform. The next generation Wakeva platform is a key enabler for our growth strategy. our new platform is more open intuitive and scalable we can now more quickly build and deliver new fit for purpose solutions that solve specific business problems we believe delivering new platform extending solutions will continue to drive our success our virtual marketing events continue to produce positive results in terms of record attendance global reach and targeted sales leads In September, 6,000 customers, prospects, and partners from over 60 countries participated in Amplify, our annual user conference. Our virtual sessions focused on solving universal challenges around data, workflow, and complex reporting. And last month, 76 key technology and advisory partners joined us for our annual partner summit. Our summit addressed how partners can better leverage our platform with their deep domain expertise to develop high-value solutions. We expect our partners to drive an increasingly higher percentage of our future revenue growth. I would like to take this opportunity to thank our employees for supporting our customers and upholding our values-based culture. Even in the face of a challenging 2020, It delivered our next-gen platform, upgraded our customers, and generated strong sales growth. In closing, we remain confident in our ability to capitalize on our new platform as enterprises continue to move to the cloud. With that, I will turn the call over to Stuart Miller.