PLEASANTON, Calif., June 12, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, today announced that Clemson University selected Workday Financial Management, Workday Human Capital Management (HCM), and Workday Strategic Sourcing to enable operational excellence, drive digital transformation, and deliver enhanced experiences for its faculty, staff, and student workers. "Our partnership with Workday represents a significant ...

New Program Empowers Workday Partners to Scale Innovation and Help Customers Realize Greater Value from the Workday Platform About Workday "Our collaboration with Workday is a testament to our shared commitment to innovation and customer value," said Claudio Valera, Workday alliance leader, PwC U.S. "Tools like Built on Workday, combined with our deep industry expertise, will help us create tailored solutions to meet our clients' unique needs and help them realize their potential." Availability Built on Wor ...

Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as enterprises aim to consolidate spend and improve efficiency levels. This augurs well for the long-term growth of the company. Workday Inc. (WDAY) has extended its partnership with Google Cloud to expedite intell ...

Financial Performance - Total revenues for the three months ended April 30, 2024, were $1.99 billion, an increase of 18% from $1.68 billion in the same period of 2023[124]. - Subscription services revenues reached $1.82 billion, up 19% from $1.53 billion year-over-year, driven by new customer acquisition and strong retention rates[135]. - GAAP operating income improved to $64 million, compared to a loss of $20 million in the prior year, reflecting a 421% increase[124]. - Non-GAAP operating income increased to $515 million, or 25.9% of revenues, up from $396 million, or 23.5% of revenues, in the prior year[151]. - Other income increased by $33 million to $59 million, primarily due to higher interest income from marketable securities[154]. - Free cash flows improved to $291 million for the three months ended April 30, 2024, compared to $218 million in the prior year[169]. Costs and Expenses - Total costs and expenses rose to $1.93 billion, an increase of 13% from $1.70 billion, primarily due to higher employee-related expenses[137]. - Product development expenses were $656 million, reflecting a 9% increase from $600 million, driven by higher average headcount[142]. - Sales and marketing expenses increased to $573 million, a 10% rise from $519 million, attributed to higher employee-related costs and increased sales commissions[144]. - General and administrative expenses increased by $41 million, or 25%, to $208 million for the three months ended April 30, 2024, compared to $168 million in the prior year[146]. - Share-based compensation expenses rose by $16 million to $385 million, representing 19.3% of total revenues, down from 21.9% in the prior year[148]. Cash Flow and Investments - Operating cash flows for the quarter were $372 million, a 34% increase from $277 million in the same quarter last year[124]. - Cash provided by operating activities was $372 million for the three months ended April 30, 2024, compared to $277 million in the prior year[163]. - Cash used in investing activities was $258 million, primarily for the acquisition of HiredScore and capital expenditures[164]. - Cash used in financing activities was $367 million, consisting of $239 million in taxes related to equity awards and $128 million in stock repurchases[167]. - The company expects capital expenditures to be approximately $330 million in fiscal 2025 to support growth initiatives[166]. - As of April 30, 2024, the company reported cash, cash equivalents, and marketable securities totaling $7.2 billion, down from $7.8 billion as of January 31, 2024[188]. Market and Economic Conditions - Economic conditions, including inflation and geopolitical factors, have created uncertainty, but demand for the company's products remains strong with gross and net retention rates over 95% and 100%, respectively[122]. - An immediate increase or decrease of 100 basis points in interest rates would have resulted in an approximately $54 million market value reduction or increase in the investment portfolio as of April 30, 2024[190]. - The company has significant foreign currency exposure, particularly to the euro, British pound, Canadian dollar, and Australian dollar, as of April 30, 2024[186]. Risk Management - The company enters into foreign currency derivative hedging transactions to mitigate risks associated with foreign currency exchange fluctuations[187]. - Borrowings under the 2022 Credit Agreement bear interest at variable rates, exposing the company to market risk from changes in underlying index rates[192]. - The fair values of the Senior Notes are exposed to interest rate risk, increasing as interest rates fall and decreasing as interest rates rise[191]. - The company’s future investment income may fluctuate due to changes in interest rates, potentially leading to losses in principal if securities decline in market value[189]. Strategic Plans - The company plans to continue investing heavily in product development and expanding its global sales organization, particularly in Europe and Asia-Pacific[119]. - The company excludes share-based compensation expenses and acquisition-related costs from non-GAAP financial measures to provide a clearer view of operational performance[35]. - The company evaluates its critical accounting policies regularly, with no significant changes reported during the three months ended April 30, 2024[183].

Carl Eschenbach - CEO Conference Call Participants Company Participants Brent Thill - Jefferies Workday, Inc. (NASDAQ:WDAY) Jefferies Software Conference May 29, 2024 12:00 PM ET lot's happened, but your 40,000-foot view. I know you've been around the company for longer than that on the Board. But as a leader, what are your observations? Carl Eschenbach Yes. So I think it's been an incredible 18 months. I'm grateful, I'm thankful for having employees. The Board and Aneel have brought me into the company and ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Workday stock is not cheap, but it's getting cheaper and could be worth buying soon. Shares of human-resources software maker Workday (WDAY -15.29%) tumbled 13.8% through 11:40 a.m. ET on Friday, despite beating expectations in the company's first-quarter 2024 earnings report Thursday night. Heading into earnings, analysts forecast Workday would earn $1.58 per share on sales of $1.97 billion. The company edged out the revenue prediction with sales of $1.99 billion, and beat the per-share guess soundly, earn ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Check price target & stock forecast for Workday here>>> While the ABR calls for buying Workday, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendati ...

Workday Inc. (WDAY) reported solid first-quarter fiscal 2025 results, with the bottom and the top lines surpassing the respective Zacks Consensus Estimate. The company reported revenue growth year over year, driven by solid customer wins across various industries, including education, financials, healthcare and more. Strategic expansions and strong contract renewals within the existing customer base also drove the top line. Management's strong focus on innovations, AI integration and international expansion ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...