PLEASANTON, CA–(Marketwired – May 26, 2015) – Workday, Inc. (NYSE: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced results for the fiscal first quarter ended April 30, 2015.
- Total revenues were $251.0 million, an increase of 57% from the first quarter of fiscal 2015. Subscription revenues were $201.0 million, an increase of 63% from same period last year.
- Operating loss was $53.4 million, or negative 21.3% of revenues, compared to an operating loss of $52.1 million, or negative 32.6% of revenues, in the same period last year. Non-GAAP operating loss for the first quarter was $2.1 million, or negative 0.8% of revenues, compared to a non-GAAP operating loss of $22.5 million last year, or negative 14.1% of revenues.1
- Net loss per basic and diluted share was $0.33, compared to a net loss per basic and diluted share of $0.32 in the first quarter of fiscal 2015. The non-GAAP net loss per basic and diluted share for the first quarter was $0.02, compared to a non-GAAP net loss per basic and diluted share of $0.13 during the same period last year.1
- Operating cash flows for the first quarter were $94.1 million and free cash flows were $63.9 million. For the trailing twelve months, operating cash flows were $174.4 million and free cash flows were $50.4 million.2
- Cash, cash equivalents and marketable securities were approximately $1.9 billion as of April 30, 2015. Unearned revenues were $653.4 million, a 41% increase from last year.
“We had a strong first quarter and welcomed a record number of new customers to the Workday community,” said Aneel Bhusri, co-founder and CEO, Workday. “We delivered Workday Talent Insights, the first Workday Insight Application from our new product suite that’s starting the next era of enterprise applications. We also announced the availability of Workday Professional Services Automation and Workday Payroll for the UK, continuing our focus on rapid innovation to help our customers grow their businesses.”
“We are very pleased with our solid first quarter results,” said Mark Peek, chief financial officer, Workday. “We generated record quarterly revenues and trailing twelve month operating cash flows. Looking ahead, we anticipate second quarter total revenues to be within a range of $270 and $274 million, or growth of 45% to 47% as compared to the prior year.”
- In its latest feature release, Workday 24, Workday announced the general availability of Workday Talent Insights, the first application available as part of Workday Insight Applications. Workday Talent Insights helps customers address talent-related challenges such as identifying a top performer at risk of leaving the company or pinpointing issues with hiring initiatives that could impact business performance.
- Additionally, in Workday 24, Workday announced the general availability of Workday Professional Services Automation (PSA). Blending Workday Financial Management and Workday Human Capital Management (HCM) functionality, Workday PSA sets a new standard in professional services automation for organizations that manage client-facing billable projects.
- The company also announced the general availability of Workday Payroll for the UK as part of Workday 24 and increased momentum for the Workday Global Payroll Cloud partner program. Partners in 85 countries are now certified to deliver integrations between Workday HCM and other payroll systems to provide customers with a comprehensive view of global payroll data.
- Workday was named one of the 100 Best Companies to Work For by Fortune magazine, ranking #22 in its inaugural appearance on the list. Workday also ranked #1 for the largest companies by the San Francisco Business Times and the Silicon Valley / San Jose Business Journal on the annual list of Best Places to Work in the Bay Area.
1Non-GAAP operating loss and net loss per share for the fiscal first quarters of 2016 and 2015 exclude share-based compensation expenses, employer payroll tax-related items on employee stock transactions, amortization expense for acquisition-related intangible assets and debt discount and issuance costs associated with convertible notes. See the section titled “About Non-GAAP Financial Measures” in the accompanying financial tables for further details.
2Free cash flows are defined as operating cash flows minus purchased property and equipment, property and equipment acquired under capital leases and purchased other intangible assets. See the section titled “About Non-GAAP Financial Measures” in the accompanying financial tables for further details.
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