WK - Earnings call transcript Q3 2018

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Operator

Good afternoon. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Workiva Third Quarter 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. you. Thank Instructions] [Operator Mr. of you Director conference. begin Investor Rogers, may Relations, your Adam

Adam Rogers

begin our you, Welcome Marty and conference Financial the XXXX we'll everyone. good Vanderploeg, turn call. then we'll Officer, comments the afternoon, Thank Executive afternoon, Chief quarter followed to by and Vice Executive and President Chief Workiva's our third This Stuart over with Officer, and Officer. the on XX. President line from today replay President call Klindt, will Jill earnings call Vice the Accounting the Information replay November Also is and is today's Senior be Chief available is Investor listed website questions. which on A access until under this section. of Relations in to available release, our Miller, press to

today's being As conference via webcast. also call live is broadcast a reminder,

today's measures we'll also and measures. And Reconciliations financial are non-GAAP cause turning and factors remind earnings and including begin, Vanderploeg. any be certain could will and forward-looking call, Annual we we unknown during Form no like Before statement for subject events in These call from cautions and XX-K I'd Also course Marty that begin the on to occur expectations actual statements differ to by guidance press and that on XX-Q information of after our the additional undertake Report fiscal that, financial over during today's today's future call. known we our everyone quarter release. the Please CEO, refer forward-looking certain GAAP statements for statements full events performance, year are not guarantees regarding our to Company's update XXXX. making to to with call, statements. forward-looking that included performance. to the today only, and Workiva All to this and are future current Quarterly statements non-GAAP we Report these results to made President uncertainties. refer reflect any obligation will risks reflect that forward-looking Form of materially our to fourth of

Martin Vanderploeg

and Thank Workiva thanks the joining quarter you, conference for Adam, XXXX to call. everyone third

our quarter for revenue, and reflecting to guidance We our achieve operating results, third which growth. profitable commitment pleased share, per are with loss loss exceeded

raising guidance, QX. discuss more footprint our of our deal call. size detail increase cloud which enables XXXX platform new X,XXX contracts, an our continue only expanding are entire as as Wdesk We and is reporting number full-year throughout our nearly will We in assurance in the on which in average we increase focused XX% see customers, that Stuart data later remain by to and customers adding in large an the in well grew process. the in

removes to reporting is tool and data the very ERP amounts mile new analyze performance connections Wdesk. allows systems, their our design category. allows the have a that address solution-based to The associated Innovation driving next generation of to teams process drive and widely wider environment investments and the This our the Ventana report to the data assurance manual our the Office along recognized, need direct trusted large throughout financial entire adoption of in the assurance cloud steps Wdata, enables risks data these with still made errors and our Our processes and in of with analysis financial Finance after process, systems, customers but the workspaces the office other data leaves Wdesk resort customers for to an CFO. create into have APIs, and immutable and Wdata data transformation processes enables connectors data Digital in and Award manual of ERP to manual data. our trail. audit becoming large with data for Wdesk only for data the And reporting. which includes end-to-end enables and We last reporting of our in Wdesk won prep transformation yesterday, the need platform. just customers' financial in solution bring of licensing. the Research customers are

licensing which the our Solution-based value to customers. of solution, Wdesk offers unlimited cease-buy increases

promising. management teams even core Our deployments and allows future larger new in improved from controls. Wdesk user reporting, the market Workiva's take quarter, to more and risk, share in to internal general. third much investment capabilities reporting, our data strengths, continue managed never regulated control, be efficiently has accountability than teams enable assurance. These to reporting, markets, SOX we management In and in benefit customers We larger believe funds workspaces collaboration, Wdesk SEC been capital

our expansion market as government are as from local federal state EMEA seeing growth in and well agencies. APAC in We also and

documentation, internal Our helps legacy September. Unlike offers have systems, new internal insights their workpaper workflow, customers and an for delivered into asking across in SOX audit and is solution, we auditors collaboration, that risk been audit a which born-in-the-cloud management that solution solution management gain real-time organization. Wdesk

partners We service and with channel as continue technology augment partners. our as to well advisory sales

KPMG. For September, announced example, we in an alliance with

in We XX a cases. companies KPMG use along range wide working more are on than of already side

customer love spent and our We call listening you User conference, and every to where largest pleasure also people teams. saw customers three how work with Conference much much our Wdesk R&D my our changed attended of and days held firsthand user in our with nearly great day. Annual of success It lives. extraordinary attendees their it you this Many September, to X,XXX is learning how has

Place to as recognized third by Workiva, And awards. In a We cloud continue quarter, won Business American Awards. the collaborative and to Wdesk innovation continue Workiva throughout our was Best Stratus strengthen Employer and Year by the of we for to Group. Business Work win Intelligence Award culture computing

growth. last is said Workiva As to committed profitable quarter, I pursuing

over We to our and it partners Wdesk turn Stuart customers customers CFO. add that, and will continue let across platform, expand our enhance Miller, Stuart? our me to new With organizations. Wdesk

Stuart Miller

which I'll featured Marty. quarter Workiva's operating Thanks, reviewing substantial in improvement third margin. start a by results, our

on fourth on Thereafter, accounting. comment then expect on provide I'll One year a guidance viewpoint and preliminary our reminder XXXX. what we next quarter

we our retrospective on adopted earlier year, recognition XXX, revenue standard, ASC this discussed the new method. calls As modified using the

XX-Q the XXX adoption Form to Our and results. ASC quarter a impact year-to-date of financial our on the provides reconciliation of third

XXXX, revenue increase our reporting from XX.X% revenue. up quarter revenue for our revenue million, We $XX.X We to an XX.X% Subscription revenue out third by XXXX. line Now from penetration quarter. and the $XX.X increase A the QX last outperformed of XX.X% Breaking customer added million, strength. from S&S revenue increase of million the guidance generated increase services total of Professional of the item. XXXX. broad support use new in was XX in in customers a QX existing an cases from revenue in deeper base. same set the of the X.X% from in months. XXXX. QX of our came $X.X The quarter of came showed was QX remainder

metrics. We QX of our XXXX. customers, a supplemental XXXX, net customers to a XXX from Turning net finished XX X,XXX QX increase increase of QX customers with and from

retention continue strong. be Our to rates

other date. file Our Customers and revenue support our September true-ups to accounted because the This subscription subscription the month just consistent with experience be factors. add-ons, month be and being to XXXX. lumpy majority XXXX. can for retention metric of can rate our a attrition, XXX.X% of annualizes otherwise and retention of of affected and ceasing revenue was or reports X With was for acquired SEC by support XX.X% data it September for revenue month

Going be after metric a by their forward, capital to at filing. year some this customers, the we initial lower expect value affected renewing markets contract

licensing will solution-based implementing expect we over hand, metric this on have few other years. the next On positive impact a the

revenue calculate accounting legacy retention standard the currently year. XXX revenue next XXX data when rates accounting We'll we under revenue retention revenue reminder, rates ASC monthly we start have new a As ASC using quarterly standard. reporting under using comparable the

calculating to We the measurement have expect quarterly monthly. this we that, metric the to of new date, variability been reduce

from year. annual Our ACV $XXX,XXX last XXX larger value of encouraging XXXk XX% up customers QX in We up of third plus. progress quarter, the quarter, contracts with year XX% for last QX had XXX also for customers is the We from third had plus. in contract

year income to and same gross third reconciliation a a $XX.X better in in profit XX.X% GAAP are XXXX, QX due to from results. in teams a quarter services higher XX.X% the Moving year, XX.X% margin XX.X% margin utilization from our in gross in $XX.X the Breaking XXXX. period of million million, because was up $X.X non-GAAP utilization transition gross a was ran lean expect gross international to don't a our million, a down a stock-based Gross we statement, to platform. Please rate. due was in or revenue, our refer equating to talk customer to the XX.X% Professional new of Subscription the before gross QX up up about success professional new QX. results QX ago. markets, margin gross of pricing. lean non-GAAP margin, rate latest basis. run quarter last the margin and equating same a on Gross cases investing in profit. services profit from margin gross in and in to as use QX, quarter profit S&S out press compared XX% was and We higher Both and of a for I'll the XX.X% our to compensation gross release support

Sales of increase expense, development this from and to of decreased basis to expense required for points down last improved X.X% last improvement. improved in to of commissions X.X% last XXX. ASC in due compensation. The year quarter this basis year, QX the capitalization year Moving marketing was quarter, and compared QX cost marketing Adopting percentage accounted and was mainly ASC the Sales revenue, higher QX as the research improvement last to XXX expense XXX XX.X%. sales to XX.X% as R&D and QX from to quarter a million, XX.X%. revenue an under QX year. for of the of points due $XX.X a percentage expense, lower XXX P&L, from as XX.X% marketing

million revenue $X.X was in XXXX the improved growth Investing XXXX growth points pursue will primarily to in loss because $X.X QX year-over-year. APAC. point in X,XXX sequential the due higher General EMEA For headcount, Annual Operating up to in in User seasonal to looking please the QX, ranks data, million Conference. million at higher operating grew Workiva's of QX and quarter operating in expense. our necessary than in year, those QX an to be marketing and Headcount recall compensation that see. $X.X administrative versus exceeded XXXX, XXXX. spend due X% last you we talent opportunities less in compared million third our expenses new attractive growth and is margin in basis loss to of investments QX quarterly were QX high that leadership compared executive for compensation $X.X

headcount in for However, manage intend loss share QX was posted compared to per year a million $X.X XXXX QX same We to loss in loss quarter of share the we ago. QX $X a per continue of of to $X.XX million carefully. growth net XXXX. a $X.XX in to net the loss compared XXXX Net net

quarterly cash Turning quarter to $XX.X provided subscription XXXX. QX operating XXXX, Short-term modestly support by and from the of our XX, which represent an Long-term services, activities to provided to with totaled in bookings and conversion over million $X.X of cash with revenue increased professional statement deposits, cash XX, At cash June at marketable increased cash, balance million due net the customer almost the revenue same XXXX, and annual increase ago. compared balance decreased securities compared million, just $X.X by QX. $X of equivalents million $XX payment. of quarter. sheet. flows a and year million in September In deferred of $XX was support customer growth deferred in subscription million contracts prepayment Short-term

So of the XXXX. guidance to our for turning rest

non-GAAP guidance the non-GAAP reconciliation stock-based GAAP press a non-GAAP and loss refer of loss excludes release share impact Our Please compensation. of guidance. for a and operations to on our from per

We are expect from fourth to to providing total our million now full-year of range fourth quarter quarter the revenue $XX.X XXXX, our we guidance. $XX.X In guidance and million. raising

to million $X.X of loss $XX.X million to from the range range million. is Non-GAAP to operating $X.X be in loss million. $XX.X operating GAAP expect to We expected

expect We QX gains post the in to full-year flow XXXX. and operating cash

to $X.XX range in range $X.XX. to We per expect GAAP $X.XX. be of QX $X.XX net Non-GAAP net is to share loss in share from to the expected loss per

diluted Our loss and million shares basic share XX.X outstanding. per assumes guidance

$XXX.X Our as follows: million. full total range we revenue million our from expect full-year is guidance XXXX year $XXX.X to to

from We GAAP $XX.X in expect to range Non-GAAP to is expected range operating of million. operating million $XX.X to loss $XX.X to loss $XX.X million. million the be

per to loss to $X.XX net from We GAAP expect range share $X.XX.

in be to expected is share $X.XX. range per the loss of net non-GAAP Finally, to $X.XX

for million outstanding. loss share and full-year shares XX.X diluted Our the per guidance assumes basic

turning XXXX. to Now

to we of expect preliminary $XXX a total XXXX revenue in million. on million to post basis, So $XXX

the growth revenue expect support professional the growth of and outpace subscription We rate continue rate to of to services revenue.

a show the single-digit in on non-GAAP progress operating to made have expect XXXX, we on loss building and We XXXX. margin in consolidating

report operating we higher flow XXXX. cash expect to addition, In in

Finally, some housekeeping.

our are debt represent tax disclosure Jeff in current repay purposes. selling their XXbX-X regarding Marty under of adopted sold beneficial be of respective Jeff Vanderploeg see Form to You'll planning by for their Rule and shares and and The Trom. XX% and Marty to ownership. plans financial shares plans X-K less than each

begin you're So questions. your are now the session. we ready Operator, to Q&A ready to take

Operator

the Roderick [Operator Instructions] line Stifel. first question of from Tom from And your comes

line Your open. is

Thomas Roderick

guys start it. questions. my you Hey afternoon. are guys, I by saying good doing taking you congratulations. mean, for Thank I'll

You're generating the growth.

with doing more leverage. You're it

is plan the together coming nicely. So

on topic. And, of question I the congrats XXXX. It's, look an that. of, appreciate into that sort off Stuart, quick So extended

from between As with a rate little not Can the necessarily would sort in making you on capacity it leverage And I predominantly you've sort continue have bit R&D split items? for side? in three and for of, the incremental about you been concern we talk happen. slow OpEx think the sales would, the the largely as on that that model next what will to to naturally calling creating next to less. and year, year from look growth Or need additive investments the up you model leverage that should going standpoint more come show you're into the as guess, the line? been be the of an about

Stuart Miller

thanks Sure. Tom, for your comments.

growth visibility side, not services revenue couple expect professional we professional on good side the of we subscription, subscription subscription So it services as as things. the is indicated, exceed And the revenue to business. revenue on the One on revenue. is as

that's of So baked on XXXX. sort into our viewpoint

Marty about We're going about we're is comfortable. it or OpEx specific general, pretty be our to pipeline, particularly early But much see in pipeline, we're growth. in seeing the where early, what in talk comment on but we be mean, particular we side. your but I about it's the Secondly, the like for growth. us the areas. We can on subscription more see to

progress mainly services year. that sales referenced a made on to the see are infrastructure going on the in the to and operating mainly I On line, the leverage as probably, not have. then already leverage side, that marketing this in areas. the topline The two investments growing appear, They're going do we'd we R&D this be cost the, line We've and to incremental probably, lot also professional of line.

Thomas Roderick

better let that. Stuart, question. Appreciate if turn as one the And detail. great That's And Wonderful. this not is or to this sort you me sure I'm Marty take want for well. of

feedback on sort from the new of value-based thoughts, any resonating if approach the curious it's guys have You And customer of here been the pushing through. as little pricing notion on pricing I'm a more. you bit have base

out means little about pricing conference. to what you coming just working a you, customers? that's And means value-based bit Maybe to your how user out? more talk it You're could of

Martin Vanderploeg

us Sure, a – have The might customers. call thing quarter, for lots how is it tool cost. had only pricing the the it, hard solution-based when be and pricing. and the Tom. very in to out a because this of customers several justify for turned We by Happy use it's like who And a now to to times you're them seats and it change positive it's they users that we Marty. label we've

value cost are and they given across solution. of it the that done then the is, spread will. we to obviously unlimited you we've But the by what of So increased licenses, if lot casual able and solution, users,

very terms people positive of how because platform see it it more in So affects interest. draws and a it's us, more thing our

positive customers now. Very, In terms it a like hundreds response. of of them the no-brainer. of customer, We've view Most it with very interacted they as too.

a it's for move very, very been So us. key

Thomas Roderick

really Great. here. one quick Last

some Gen at the platform, now little Just partners? those you attracting partnerships, about And traction what SAP field to opened thinking other Maybe partnerships terms already with does the seeing up flexibility X do talk Gen and about KPMG. what ISVs, and that love there the extent you're broadly, just about early platform in partnerships you have two would of out announced, those to the to X to but that hear you more nice and a have guys mean, are it.

Martin Vanderploeg

Again, early days, our all API-based. it's platform but new is

either opened put it's up, to So to or those have for and us to as data access in, some them. extract need these open data platform already our easy partners to up we

it integrate flexibility us partners. gives to a So lot of

terms that early, a In win-win, can in I traction, it's alluded services, seen real drive it enthusiastic for the success. see I'm – to monies. the to way companies. of these in see other is a starting really But since the prepared And We've it thing when make that but thing that to most them remarks. SaaS is partners about

finally go it's we use services not types other load, only take where formula And in domain do and the statutory if financial we so we also the feel, a cases. but can then the And expertise or win-win. provide things partners transformations of have or reporting like right

because like component we see money a we've so minimize seeing they never definitely obviously, great way we've to as want said, And the it's where we're revenue this. stream. And excitement us services the make seen of our to past, from always from partners in actually for our

Thomas Roderick

guys. Nice you, Thank great. That’s job. Wonderful. Appreciated.

Stuart Miller

Tom. Thanks

Operator

And comes Rob from of Oliver the from next line question your Baird.

Your line open. is

Matthew Lemenager

of like, those new behalf what like nicely. typically adopted products? pricing? up customer comparison, profiles the that and were so the do today. those on over both had guess, This I'm is of than $XXX,XXX Rob quarters those have were customer anything profile the Thank like greater is I what $XXX,XXX, thresholds, number what is, When customers changes wondering customers year-over-year a there typical Lemenager a like? recent solution-based crosses those guess, does of in afternoon. Good things look you. could sequential Or look helpful, number Matt be that average I The

Martin Vanderploeg

a it's bag. mixed Matt, Well,

that customers on just customer. the only have We excess that one of $XXX,XXX based some solution, are the of size have in

will four that customers have have solutions. We that and or threshold three cross

early base. The in things. a our So of percentage days. is user licensing it's really of quite small a We've mixture converted solution-based

those yet, And revenue it when them, but above from really sometimes affect so have isn't in if $XXX,XXX total customer. that five seen in – numbers And customer a or will customers and we're that four way solutions, then obviously. remember, big it's

a it's number. So support broad-based really for that

Matthew Lemenager

companies then following remarks That's kind look guess, Tom KPMG, been did be helpful. Marty, what talked financial and of were the And wouldn't just those on a that with just without what think on on may wouldn't got of introduce wondering, your on to range than I'm project working you you have have up transformation XX this the before cases, use about that to maybe your in KPMG? more prepared partners, you deals before? of but these that asked, alliance even at I KPMG take a radar

Martin Vanderploeg

couple a Well, comments.

dozen and space. partners, and primarily value our KPMG KPMG They And drive business we been ton far factor are big the of space, fair I just contributing a They that at a believe, over there lot relationship say and GRC the see to when And certainly smaller we a and is lot our have managed the also domain that one growth has of in very a which clarification, those it's First but point. audit the for that the have of is sales would without relationships. to SOX in so in, the They that space, go of bring expertise. the they a process. this them. audit in SOX never

further On talked with the different that same about really But get expect yet. lot a road. down we the we working financial as transformation, partners of we're phenomena we the there haven't

Matthew Lemenager

it. you. Thank Got

Martin Vanderploeg

Matt. Thanks

Operator

question of your Lemus from SunTrust And Robinson. from comes next the Eric line

open. is line Your

Eric Lemus

XXXX. Thanks taking question. And provided, range guys. for bit, on can look appreciate unpack the we you that that a of I into that specifically revenue that Thanks just early how the into base? into guys attributable much attributable is gaining customers? And solution the How Anything to customer grind new that selling is to into change is the there based guidance? anything that pricing? much

Stuart Miller

It's Eric. Stuart. Hey,

$XXX million that. the not $XXX to we're So disaggregating million,

that But change, new about you could done quarterly running even we've quite basis. customers I quarters. that's any year. growth to haven't balanced a reason have between historically, that XX/XX and we subscription particular for don't believe different been certainly mean, have going revenue We from now selling that to any new been if existing few being will case on it's and to the is customers but attack, on a incremental existing logos. We logos. offensive I next a know be

Eric Lemus

SAP, kind great. with switching then that's Okay, And to a partner of multistage process you guys have over them. talked about becoming a

of So with I how somewhat a a to partnership? that particular explain referral, potentially are relationship, progressing? you integration? guess Was you technology be that in reseller is And Can just that? on or inning that going what

Martin Vanderploeg

Marty, this Well, Eric. is

sort I think on that of that before. commented we've

reports, go at across have or accounts, your a provide all we the your takes process. out in it's helping that and one to that us, been we system. they about build we already user And dashboards in that showed they're something and populates just presentations, it's with because talking us really spreadsheets, the swoop go and enables all that manual in relationship SAP where conference all automatically, For into direct integration go assurance all that I've data your comes just fell and all very your data successful our whether integration us been really,

the their days sort we've distribution. and be we're we But have what my to in in of other us, the part, can relation in obviously, run early terms already mind. business for of show done home in So hit ecosystem of in terms

days. early that's So

really But that. update no data you on jointly, the we're right, accounts working that. we'll time's there's other together some on have when We definitive and

Stuart Miller

to I've got thing one add.

OEM also historically very has with the it's have which SAP, constituents integration important but and been I relationship, departments, our of marketing with technology the the effort. focal the tight think our sales not the are there, and IT validated us, So point relationship to

Martin Vanderploeg

just be support good of there. would at technical many from both point. that a our the because We knew That's from The they got customers that be sides would kudos integration announcement there.

so early for more we'll it's keep of like huge And The I our said days, us, a is terms us enabling do in lot success and business already to a stuff with been customers. you posted.

Eric Lemus

Got it, great. Thanks, guys.

Operator

And Brian comes line from your Raymond James. question next the of Peterson from

Your line open. is

Brian Peterson

Hi, for question. the taking thanks

I wanted to of just start going for if we think So opportunity, try to it's Just guys. getting on how that? investment need customers, look to up about front European you And to should should you think we that? that or more at this know How partner sizing does coming the attack are about in we that?

Martin Vanderploeg

expensive the in here's look more you to as that, at there, go it's is Brian, Europe start know. always thing to we Well, about way the

we You But language footprint. you other look have the to similar at a U.S., some that. really size fairly like And issues okay? is when market small the and have things it,

logos We learn market. have really let there some that the us very good

a so for us, market in Greenfield many And it's ways.

good very made some have leadership we now a so really that's And difference.

see set things. good up you pushing a EMEA, and bullish aggressively we're so just and when a with is team the because on Greenfield. expect sales products to start And Greenfield it you account, of always And

excited we're about it. very So

Brian Peterson

run details, pricing, customer when customer-by-customer be don't as the we or would Thanks but contract-by-contract migrated of kind on the XXXX do what obviously, think have And the that follow-up, a would should model? in or maybe new to Maybe full implied Marty. you terms the to just be base the model over pricing solution-based at much expect we How point? about new you that's thinking its of be guidance? in the

Martin Vanderploeg

the that Well, customers we I with some think are have multiyear. contracts of

it seen for some be the you general, of we the voluntarily, there. we've customers. curve getting. us it nice success that them through our convert But natural what learning a That's more to in take And them fine two want going do of years bulk just let early take transition. And the some understanding to to actually they're customers and will approach it's this or and so

So over all it to them be migrated. will two get years

We for and for have as well for impact it's customers, an go-to-market new having new that adopted there the logos. our

Brian Peterson

Good to hear. Thanks Marty.

Martin Vanderploeg

Thanks Brian.

Stuart Miller

Brian. Thanks

Operator

next comes the from of Securities. question Mike Northland line your from And Grondahl

Your line open. is

Michael Grondahl

initiative update sort you Hey, of earlier year? out rolled thanks guys. this pricing value Any on the

Martin Vanderploeg

I say than Marty. mean solution-based we've customer that you because and licensing been last pricing. after communication. I I of talking that's when a better that acronym was found apologize But is We what This the about lot licensing, switched solution-based that call. did just on we we value-based

of And priced so very seat, going us yes, because but actually visibility revenue and it's accounts for them of to higher more per think these a about tool the it's lower number. our stickiness also been in very We excited this. value, just successful us. help our We're really giving expansion and provide more

about we're So it. enthused very

Michael Grondahl

great. Great,

cases or Okay. call And so? use the out then new to quarter in any last

Martin Vanderploeg

seeing nice We've just people buzz has at case how our get focus that going know, it. going market, installation, to of but a in sort be well dollars lot use you're in I this numbers. and in of of tens transformation that to those Its some finding it there's much getting to we if Mike. a We've seeing new those the Well, they're user in of finite companies addressable really look number clearly certainly we our a we're is and a a couple. and on of platform we're about on more. as we finding very driving don't One can But can new, fits some base that financial of then sell lot millions per increments it plus found and way. focused of $XXX,XXX how

focusing is transformation financial on something very and about on. we're excited so doubling And we're and down

market optimistic also about see that and focusing investments so focus that. statutory reporting, also we're on starting organically, as we're going well. on And in We to are and we're reporting, to sales there

with that the are probably those TAMs associated cases nicest have So the them. use

always more us investment. places of we resources. has been There's don't choosing have so It's focus that As applicable the this we've biggest on to always told the you, return is platform We many focusing, unlimited to. issue on. right type about our that so markets get

we So to They are ROI really are us. found find we've some. a and just trying we for those, to think nice have going

Michael Grondahl

Thanks and congratulations guys. great. Good,

Operator

next Stanley. the from Morgan comes question of your And Fodderwala Hamza line from

line is open. Your

Hamza Fodderwala

little And the see portion QX? a been I just has in the the but wanted when dig become partnership. we to business? necessarily How just partnership, meaningful can not those in more of KPMG, on technology bit a ramping that

Martin Vanderploeg

the technology Anaplan need we're partnerships seeing go-to-market internationally. it's off, activities terms a Anaplan a to and Well, when for good joint but SAP announced, impacted, feel need We it's some for them feel really and with us. in that a they ways we've of going

optimistic we're then definitely we're commented a that very seeing cooperation of joint lot And SAP, between earlier, team. and we're some our sales seeing So about with go-to-market opportunities. I

that so time And to develop. are things something those take obviously

terms of If you from the take to both companies that in these early not look takes interest months But these historically signs at together, partnerships years sides, of relationships other all it put build. have win-win.

in But that. to, you of formula. in we're these, them find And so you that many don't definitely seeing go

Hamza Fodderwala

the on And XXXX outlook. just follow-up then a

single-digit margin, So operating correct? to you Just positive make want that's sure? mentioned operating margin, single-digit

Stuart Miller

operating negative was No, that single-digit Yes. margin.

Hamza Fodderwala

Okay.

Okay, all Thank you. right.

Martin Vanderploeg

Gotcha. End Thanks, Hamza. of Q&A

Operator

questions concludes today's no there call. are conference this And time. further And at this

may now disconnect. You

Adam Rogers	Director, Investor Relations
Martin Vanderploeg	President and Chief Executive Officer
Stuart Miller	Executive Vice President and Chief Financial Officer
Jill Klindt	Senior Vice President and Chief Accounting Officer
Thomas Roderick	Stifel, Nicolaus & Company
Matthew Lemenager	Robert W. Baird & Co.
Eric Lemus	SunTrust Robinson Humphrey
Brian Peterson	Raymond James & Associates, Inc.
Michael Grondahl	Northland Securities, Inc.
Hamza Fodderwala	Morgan Stanley

Workiva (WK) 10 Nov 182018 Q3 Earnings call transcript