Workday(WDAY) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 FY2025 were $1.990 billion, an increase of 18.1$1.815 billion, up 18.8% compared to the same period last year[6] - Non-GAAP operating income was $515 million, representing 25.9$396 million or 23.5% of revenues in the prior year[6] - Diluted net income per share was $0.40, compared to$0.00 in Q1 FY2024, while non-GAAP diluted net income per share increased to $1.74 from$1.33[6] - For the three months ended April 30, 2024, net income was $107 million, compared to a net loss of$0 million in the same period of 2023[20] - Non-GAAP operating income for the same period was $515 million, up from$396 million in 2023, reflecting a non-GAAP operating margin of 25.9%, compared to 23.5% in 2023[23] - The diluted net income per share for the three months ended April 30, 2024, was $1.74, compared to$1.33 in 2023[23] Cash Flow and Expenditures - Operating cash flows were $372 million, compared to$277 million in the prior year, and free cash flows were $291 million, up from$218 million[6] - Free cash flows for the three months ended April 30, 2024, were $291 million, an increase from$218 million in 2023[26] - Cash provided by operating activities increased to $372 million in 2024, compared to$277 million in 2023[20] - Capital expenditures for the quarter were $81 million, compared to$59 million in 2023[20] - Cash, cash equivalents, and restricted cash at the end of the period totaled $1,771 million, up from$1,456 million at the end of the same period in 2023[20] Subscription Revenue Backlog - The 12-month subscription revenue backlog was $6.60 billion, up 17.9$20.68 billion[6] - The company updated its full-year subscription revenue guidance to between $7.700 billion and$7.725 billion, reflecting approximately 17% growth[12] Share Repurchase and Acquisitions - Workday repurchased approximately 0.5 million shares of Class A common stock for $134 million[6] - The company repurchased$128 million of common stock during the quarter, with no repurchases in the same quarter of the previous year[20] - Workday completed the acquisition of HiredScore, enhancing its AI-powered talent acquisition capabilities[12] Partnerships and Collaborations - Workday expanded its partnership with AWS and formed a new collaboration with Google Cloud to enhance market reach[12] Other Financial Metrics - The company reported a significant increase in trade and other receivables, netting $509 million in 2024, compared to$473 million in 2023[20] - The company plans to exclude certain acquisition-related costs and realignment costs from its non-GAAP results starting fiscal 2025[27]