ipo readiness: a practical guide to going public · dashboards + visualization data collection...
TRANSCRIPT
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The contents of this presentation are confidential. Copyright © 2017 Workiva.
IPO Readiness: A Practical Guide to Going Public
Mike Rost, Vice President of Corporate Marketing, Workiva
Stuart Miller, Executive Vice President, Treasurer, and CFO, Workiva
Jill Klindt, Chief Accounting Officer, Workiva
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Questions
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Obtaining your CPE credit
• One hour of CPE credit
• Four attendance questions asked during the webinar
• Log in with correct contact information
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Agenda
• Introduction
• Pre-IPO private company challenges
• Getting ready for an IPO
• Lessons learned during the IPO process
• Life as a public company
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27% Q3 2016 LTM revenue growth
$172 Million Q3 2016 LTM revenue
95% Revenue retention
95% Customer satisfaction
2.5+ Billion Data elements
Over 2,600 customers. Used in 120 countries.
70% 500 largest companies
About Workiva
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Jill Klindt Jill has been with Workiva since 2008 and currently serves as Vice President and Chief Accounting Officer. Before joining Workiva, she was a financial analysis manager at Financial Intelligence, LLC. Prior to that, she was a financial consultant at Wells Fargo Financial, a senior financial analyst at CitiMortgage, a financial accounting analyst at Principal Residential Mortgage, and an accountant at both Prairie iNet and EAI. She is a certified public accountant (inactive) and earned a B.S. in accounting from Iowa State University.
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Stuart Miller Stuart serves as Executive Vice President, Treasurer, and CFO at Workiva. Prior to Workiva, he was a managing director of Colonnade Advisors, a mergers and acquisitions advisory firm that he founded in 1999. Previously, he was a managing director in the investment banking department of J.P. Morgan. Stuart joined J.P. Morgan from Credit Suisse First Boston, where he had worked in the investment banking department. He has an M.B.A. from Harvard Business School.
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Workiva as a Private Company
• Capital structure • Reporting processes
• Accounting and finance disciplines
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CPE QUESTION 1
Are you considering an IPO or other capitalization event in the next 12–18 months?
a. Yes
b. No
c. Not sure
d. Not applicable
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Getting Ready for the IPO
• Maturing accounting and finance processes • Monthly close • Financial reporting • Internal controls • Board reporting • Performance reporting
• SEC filing requirements • Drafting and submitting the S-1
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Workiva IPO Timeline 2014
Early June Decide to go public
September 10 Host analysts and bankers at user conference
September 2 File draft registration statement
August 18 Conduct teach-in for analysts and lead managers
August 17 Hire investor relations firm
Mid-June Hire issuer’s counsel
August 5 Commence drafting sessions
July 22–23 Hear presentations from bankers
September 26 Conduct teach-in for analysts and comidmanagers
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Workiva IPO Timeline 2014
October 17 File form S-1
December 12 Trade on NYSE
December 1 Begin road show
November 28 Upload videos to NetRoadshow.com
November 18 Record road show video
November 10–11 Record corporate video
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CPE QUESTION 2
Are you preparing for the financial reporting implications for IPO or other capitalization event? a. Yes
b. No
c. Not sure
d. Not applicable
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Lessons Learned During the IPO Process
• Importance of nimbleness in financial reporting • The need for experienced staff and preparedness • How to handle non-GAAP data element disclosures • Internal and performance reporting metrics • XBRL-tagging experts
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Life as a Public Company
• Operating as a public company • 10-Qs, 10-Ks, 8-Ks, etc. • XBRL
• SOX compliance • Board management and reporting
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CPE QUESTION 3
Which of your financial processes offers the largest opportunity for improvement?
a. Monthly financial close management
b. Monthly internal management or performance reports
c. Quarterly financial reporting
d. Budget and forecasting
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366 8,865 265 500 935 599 2,665 365 220 724 229 317 755 2,610 874 5,448 580 44 234 927 8,107
1,605 14,533 1,569 773 1,486 2,281 13,382
Dashboards + Visualization
Data Collection
Audit Report
For fiscal 2015, 13 thousand units were provided by operating activities and units
Structured Data
Text and Narrative
Mobile
Bozeman 193 599
231 755
424 1,354
Seattle 826 500
724 249
1,550 749
Amsterdam 366 8.865
645 280
1,011 9,145
* Preliminary results are the lighter shades above
Wdesk Helps You Work Smart
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Global Manufacturer Total Economic Impact™
Leveraged Wdesk to:
Reduce workload by 90%
Streamline review
process
Benefit from cloud-based
security
108% ROI Payback in less than 2 months
◦ $317K — managing reports ◦ $187K — review process ◦ $138K — data collection
Saved more than $640K:
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CPE QUESTION 4
Are you planning to make an investment in accounting, finance, or reporting software in 2017?
a. Yes
b. No
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Next Steps
• Network with professionals
• SEC Professionals Group — secprofessionals.org
• SOX & Internal Controls Professionals Group —
soxprofessionalsgroup.org
• Technology can make your life better
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The contents of this presentation are confidential. Copyright © 2017 Workiva.
Questions?