AMES, Iowa (AP) _ Workiva Inc. (WK) on Thursday reported a loss of $10.6 million in its first quarter.
On a per-share basis, the Ames, Iowa-based company said it had a loss of 22 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The maker of software for managing regulatory filings posted revenue of $85.8 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $82.4 million.
For the current quarter ending in July, Workiva expects its results to range from a loss of 15 cents per share to a loss of 14 cents per share.
The company said it expects revenue in the range of $80.3 million to $80.8 million for the fiscal second quarter.
Workiva shares have declined 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.18, a drop of 27% in the last 12 months.