Workiva Inc. (NYSE:WK) will look for M&A. Jill Klindt Chief Financial Officer said during the Third Quarter Conference Call, "As Julie mentioned, we continue to focus on growth and productivity. This focus has helped us improve our operating leverage and stay committed to our goal of delivering improved operating margins and non-GAAP profitability for both 2023 and 2024. At September 30, 2023, cash, cash equivalents, and marketable securities increased $316 million sequentially to a balance of $782 million, primarily driven by our August convertible note offering.

Our successful issuance of convertible notes raised $700 million at a 1.25% coupon. We used $397 million of the funds to repurchase about 80% of the convertible notes we originally issued in 2019. We will use the remainder of the funds primarily for working capital and to support potential future M&A activity".