Workiva Inc. Class A

Ladies and gentlemen, thank you for standing by and welcome to our Kiva Q3 2021 conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. If anyone should require assistance during the conference, please press star zero on your touch-on telephone. I would like to turn the conference over to your host, Mr. Mike Cross. Please go ahead, sir.

Good afternoon and thank you for joining us for this third quarter 2021 conference call today's call has been pre recorded and will include comments from our chief executive officer Marty Vanderplou followed by our chief financial officer Jill clint will then open the call up for live Q amp a session. Julie is co our chief operating officer is also on the call. A replay of this webcast will be available until November 10 2021. 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 will be making forward-looking statements regarding future events and financial performance, including guidance for the fourth quarter and full fiscal year 2021 and preliminary guidance for the full fiscal year 2022. These forward-looking statements are subject to known and unknown risks and uncertainties. Workiva cautions that these statements are not guarantees of future performance. All forward-looking statements made today reflect our current expectations only, and 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 will begin by turning the call over to our CEO, Marty Vander Plauw.

Hello, and thank you for joining today's call. The Workiva team delivered another strong quarter, beating third quarter guidance for revenue and operating results. We achieved 30% organic growth in subscription and support revenue and approximately 28% in total revenue. As a result, we are raising our full year guidance. Jill will provide further details about our financial results and future outlook. We continue to build on our market leadership and the increased demand for transparent reporting, including financial and ESG reporting solutions that drive digital transformations. We target being a low to mid-20% growth company. In Q3, as in the past several quarters, we have benefited from the strong IPO market, the increase in the number of new public companies, and enhanced compliance and reporting requirements. During the quarter, we saw strong bookings in capital markets, SEC, ESG, and ESF. Cap markets, ESG, and ESF are three markets which we believe have high growth potential. We'll talk more about these fit-for-purpose solutions, our expanding TAM, and our outlook for growth during our Virtual Investor Day on November 18th. Our differentiated technology and extraordinary talent are clearly making an impact on our customers. During the quarter, we grew our global customer base to 4,146, adding 197 net new customers. We retained our existing customers, increasing our S&S revenue retention rate to 96.5%. And our enhanced ability to cross-sell multiple solutions helped increase the number of customers with ACB over $100,000 and $150,000. We are pleased with the investment that our partners continue to make in growing their Workiva practices. During the quarter, we had a number of large partner-related wins. Some examples include... A Big Four advisory firm expanded a major healthcare company's use of our platform to include our ESG solution. The advisory firm had previously implemented insurance statutory reporting for this company. Our APAC team, in partnership with a Big Four advisory firm, signed its largest single opportunity with a global financial services group. The customer purchased our connected annual and interim financial reporting and tax reporting solutions. Another key partner-related win was with a large building society in Europe. The customer invested in the Workiva platform, purchasing our ESF financial reporting and banking solutions. Our partners also played an important role at our 2021 Workiva Amplify Conference, where they collectively hosted 33 of the 70 sessions. This year's virtual conference held in September was our largest yet. We welcomed 10,000 attendees from 3,700 companies across 108 countries. Next year's conference will be both virtual and in-person. Please mark your calendars to join us September 12th through 15th, 2022 in Las Vegas. Workivo was recently named a leader among governance risk and compliance platforms by Forrester Research. Our platform received the highest scores in 12 criteria, including audit management, data integration, vision, and planned enhancements. We believe this placement validates our position as the global leader in the market to simplify GRC's most significant challenges and deliver a greater return on investment for our customers. Looking ahead to 2022, we believe now is the right time to strategically invest in our business in order to deliver consistent 20 plus percent growth. Outside of SEC, we believe penetration of our TAM is still early in all solution areas. Therefore, we intend to invest to accelerate global growth, advance our product roadmap, and increase demand generation. Jill will further discuss the details of our 2022 preliminary guidance. In closing, we delivered a strong third quarter driven by the focused execution of our strategy. We continue to grow the business by attracting and retaining top talent, investing in the innovation of our platform and solutions, and consistently delivering an outstanding customer experience. It continues to be an exciting time for Workiva. We believe we are well positioned and have the right strategy in place to capitalize on the increasing opportunities to power transparent reporting for a better world. With that, I will now turn the call over to Jill.