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Workiva updates FY'17 outlook, issues Q3 guidance

Workiva Inc. has issued guidance for the third quarter and updated its full-year outlook.

The company expects revenue for the third quarter to be between in the range of $50.4 million to $50.8 million. GAAP loss from operations is expected to be between $16.4 million to $16.8 million, or 40 cents per share to 41 cents per share. The company also anticipates a non-GAAP loss from operations of $11.8 million to $12.2 million, or 29 cents per share to 30 cents per share.

The S&P Capital IQ consensus normalized estimate for the quarter is a loss of 24 cents per share.

For the full year, Workiva expects total revenue of $205 million to $206 million; a GAAP loss from operations of $42.7 million to $43.7 million, or a loss of $1.04 per share to $1.06 per share; and a non-GAAP loss from operations of $25 million to $26 million, or a loss of 62 cents per share to 64 cents per share.

For 2017, the company previously anticipated total revenue of $204 million to $206 million; a GAAP loss from operations of $44 million to $46 million, or $1.08 per share to $1.13 per share; and a non-GAAP loss from operations of $26 million to $28 million, or 64 cents per share to 69 cents per share.

The S&P Capital IQ consensus normalized estimate for the year calls for a loss of 66 cents per share.

For the second quarter, Workiva reported a net loss of $10.2 million, or 25 cents per share, compared to a loss of $11.5 million, or 28 cents per share, in the year-ago quarter.

The S&P Capital IQ consensus GAAP estimate for the second quarter called for a loss of 20 cents per share.