v3.25.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 242,024	$ 301,835
Marketable securities	525,000	514,585
Accounts receivable, net of allowance for doubtful accounts of $1,244 and $1,220 at March 31, 2025 and December 31, 2024, respectively	118,620	148,433
Deferred costs	51,184	50,914
Other receivables	9,308	10,276
Prepaid expenses and other	28,161	22,199
Total current assets	974,297	1,048,242
Property and equipment, net	21,485	21,825
Operating lease right-of-use assets	12,341	11,786
Deferred costs, non-current	51,456	54,858
Goodwill	199,724	196,844
Intangible assets, net	26,031	27,389
Other assets	8,300	7,525
Total assets	1,293,634	1,368,469
Current liabilities
Accounts payable	14,761	7,747
Accrued expenses and other current liabilities	93,495	126,508
Deferred revenue	438,513	457,608
Finance lease obligations	570	562
Total current liabilities	547,339	592,425
Convertible senior notes, non-current	765,501	764,891
Deferred revenue, non-current	33,104	29,681
Other long-term liabilities	238	227
Operating lease liabilities, non-current	9,845	9,441
Finance lease obligations, non-current	13,342	13,488
Total liabilities	1,369,369	1,410,153
Stockholders’ deficit
Preferred stock, $0.001 par value per share, 100,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in-capital	655,377	672,363
Accumulated deficit	(729,054)	(707,683)
Accumulated other comprehensive loss	(2,114)	(6,420)
Total stockholders’ deficit	(75,735)	(41,684)
Total liabilities and stockholders’ deficit	1,293,634	1,368,469
Class A Common Stock
Stockholders’ deficit
Common stock	52	52
Class B Common Stock
Stockholders’ deficit
Common stock	$ 4	$ 4

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

WORKIVA INC 10-Q