Exhibit 12.1
WORKIVA INC.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
Six months ended June 30, | Fiscal Year Ended December 31, | ||||||||||||||||||||||
2017 | 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||
Earnings | |||||||||||||||||||||||
Loss before provision for income taxes | $ | (15,990 | ) | $ | (30,585 | ) | $ | (29,544 | ) | $ | (41,122 | ) | $ | (43,406 | ) | $ | (43,953 | ) | |||||
Fixed charges | 1,712 | 1,921 | 1,211 | 3,106 | 3,257 | 3,176 | |||||||||||||||||
Total earnings as defined | $ | (14,278 | ) | $ | (28,664 | ) | $ | (28,333 | ) | $ | (38,016 | ) | $ | (40,149 | ) | $ | (40,777 | ) | |||||
Fixed charges | |||||||||||||||||||||||
Interest expense (1) | $ | 930 | $ | 1,521 | $ | 366 | $ | 2,044 | $ | 2,025 | $ | 1,875 | |||||||||||
Estimated interest component of rental expense (2) | 782 | 400 | 845 | 1,062 | 1,232 | 1,301 | |||||||||||||||||
Total fixed charges as defined | $ | 1,712 | $ | 1,921 | $ | 1,211 | $ | 3,106 | $ | 3,257 | $ | 3,176 | |||||||||||
Ratio of earnings to fixed charges | — | — | — | — | — | — | |||||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (15,990 | ) | $ | (30,585 | ) | $ | (29,544 | ) | $ | (41,122 | ) | $ | (43,406 | ) | $ | (43,953 | ) |
(1) | Interest expense includes amortization expense for debt issuance costs. |
(2) | One-third of net rent expense is the portion deemed representative of the interest factor. |