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Workiva cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$68.7M in Q3 2026 · $223M over twelve months

Operating cash flow$69.5M
Capital spending−$831K
Free cash flow+$68.7M
Cash / net income3.6×
Cash conversion cycle32 days

Analysis

In Q3 2026, Workiva generated $69.5M of operating cash flow and spent $831K on capital projects, leaving free cash flow of $68.7M. That is $22.7M more than in Q3 2025 ($46.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $225M; the largest uses were buybacks ($185M), net borrowing (+) / repaid (−) ($71.8M), taxes on employees’ shares ($19.8M); besides operations, cash came from other investing ($55.5M), other financing ($14.3M); the cash balance rose by $17.9M.

Operating cash flow was $69.5M against net income of $19.1M — 3.6× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$28.9M, deferred revenue +$24.0M, receivables −$10.3M.

Its cash conversion cycle was 32 days (receivables 53 + inventory 0 − payables 22).

Free cash flow

Workiva: free cash flow by quarterWorkiva: free cash flow by quarter$43.2MQ4 2024−$8.1MQ1 2025$49.3MQ2 2025$46.1MQ3 2025$50.7MQ4 2025$25.7MQ1 2026$78.0MQ2 2026$68.7MQ3 2026
Operating cash flow less capital spending.
Workiva: operating cash flow against capital spendingWorkiva: operating cash flow against capital spendingOperating cash flowCapital spending$44.0M$809KQ4 2024−$7.4M$763KQ1 2025$50.3M$995KQ2 2025$46.2M$91KQ3 2025$51.0M$226KQ4 2025$26.5M$728KQ1 2026$78.3M$332KQ2 2026$69.5M$831KQ3 2026
Latest (Q3 2026): Operating cash flow $69.5M, Capital spending $831K.

Capital allocation, year by year

Workiva: where the cash came from (up) and went (down), by fiscal yearWorkiva: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $49.8MFY2021: Net borrowing −$1.7MFY2021: Shares issued $16.6MFY2021: Capital spending −$3.5MFY2021: Acquisitions −$37.5M$66.4MFY2021FY2022: Operating cash flow $11.3MFY2022: Net borrowing −$1.6MFY2022: Shares issued $3.3MFY2022: Capital spending −$3.5MFY2022: Acquisitions −$99.2M$14.6MFY2022FY2023: Operating cash flow $70.9MFY2023: Net borrowing $294MFY2023: Shares issued $4.5MFY2023: Capital spending −$2.1M$369MFY2023FY2024: Operating cash flow $87.7MFY2024: Net borrowing −$532KFY2024: Shares issued $4.9MFY2024: Capital spending −$1.4MFY2024: Acquisitions −$98.1M$92.6MFY2024FY2025: Operating cash flow $140MFY2025: Net borrowing −$560KFY2025: Shares issued $6.2MFY2025: Capital spending −$2.1MFY2025: Buybacks −$71.6M$146MFY2025
Over these 5 years operating cash flow totalled $360M; the largest uses were acquisitions ($235M) and buybacks ($71.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$817M
Debtnone
Net cash$817M

Workiva funds itself: free cash flow was $223M over the last twelve months, with $817M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Workiva: sources (+) and uses (−) of cash, Q3 2026Workiva: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$81.3MOther investing$77.8MNet borrowing (+) / repaid (−)−$71.4MOperating cash flow$69.5MOther financing$6.2MShares issued$1.7MBuybacks−$1.2MCapital spending−$831KExchange rates−$670K
Workiva: sources (+) and uses (−) of cash, TTM to Q3 2026Workiva: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$225MBuybacks−$185MNet borrowing (+) / repaid (−)−$71.8MOther investing$55.5MTaxes on employees’ shares−$19.8MCash drawn (+) / kept (−)−$17.9MOther financing$14.3MShares issued$6.1MExchange rates−$3.5MCapital spending−$2.1MAcquisitions−$750K

From profit to cash

Workiva: net income to operating cash flow, Q3 2026Workiva: net income to operating cash flow, Q3 2026Net income$19.1MDepreciation & amortization$2.4MStock-based pay$28.9MDeferred taxes$12KReceivables−$10.3MPayables$9KAccrued liabilities$7.9MDeferred revenue$24.0MPrepaid and other assets$46KOperating cash flow$69.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202653—2232
Q2 202651—2030
Q1 202656—1838
Q4 202560—2040
Q3 202555—2233
Q2 202551—2427
Q1 202558—2137
Q4 202466—2145

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$69.5M−$831K—−$1.2M−$71.4M$1.7M−$81.3M$68.7M
Q2 2026$78.3M−$332K—−$123M−$152K$322K$81.8M$78.0M
Q1 2026$26.5M−$728K−$750K−$50.0M—$729K$4.5M$25.7M
Q4 2025$51.0M−$226K—−$11.5M−$142K$3.3M−$22.9M$50.7M
Q3 2025$46.2M−$91K—−$10.0M−$141K$440K−$31.7M$46.1M
Q2 2025$50.3M−$995K—−$10.0M−$139K$1.8M−$42.2M$49.3M
Q1 2025−$7.4M−$763K—−$40.1M−$138K$631K$59.6M−$8.1M
Q4 2024$44.0M−$809K$1K—−$137K$1.0M−$53.6M$43.2M

Workiva: income statement and cash flow

Workiva, Q3 2026: revenue $263M (+17% year over year), operating margin 6.8%. The chart follows the revenue to costs, profit and cash.

Workiva: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.