EX-12.1 5 s-3exhibit121computationof.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
WORKIVA INC.

Computation of Ratio of Earnings to Fixed Charges
(in thousands)

 
Six months ended June 30,
 
Fiscal Year Ended December 31,
 
2017
 
2012
 
2013
 
2014
 
2015
 
2016
Earnings
 
 
 
 
 
 
 
 
 
 
 
Loss before provision for income taxes
$
(15,990
)
 
$
(30,585
)
 
$
(29,544
)
 
$
(41,122
)
 
$
(43,406
)
 
$
(43,953
)
Fixed charges
1,712

 
1,921

 
1,211

 
3,106

 
3,257

 
3,176

Total earnings as defined
$
(14,278
)
 
$
(28,664
)
 
$
(28,333
)
 
$
(38,016
)
 
$
(40,149
)
 
$
(40,777
)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
 
Interest expense (1)
$
930

 
$
1,521

 
$
366

 
$
2,044

 
$
2,025

 
$
1,875

Estimated interest component of rental expense (2)
782

 
400

 
845

 
1,062

 
1,232

 
1,301

Total fixed charges as defined
$
1,712

 
$
1,921

 
$
1,211

 
$
3,106

 
$
3,257

 
$
3,176

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
—

 
—

 
—

 
—

 
—

 
—

Deficiency of earnings available to cover fixed charges
$
(15,990
)
 
$
(30,585
)
 
$
(29,544
)
 
$
(41,122
)
 
$
(43,406
)
 
$
(43,953
)

(1)
Interest expense includes amortization expense for debt issuance costs.
(2)
One-third of net rent expense is the portion deemed representative of the interest factor.