- Total revenues were $1.33 billion, an increase of 20.0% from the third quarter of fiscal 2021. Subscription revenue was $1.17 billion, an increase of 21.0% from the same period last year.
- Operating income was $23.9 million, or 1.8% of revenues, compared to an operating loss of $14.1 million, or negative 1.3% of revenues, in the same period last year. Non-GAAP operating income for the third quarter was $332.2 million, or 25.0% of revenues, compared to a non-GAAP operating income of $268.1 million, or 24.2% of revenues, in the same period last year.1
- Basic and diluted net income per share was $0.17, compared to a basic and diluted net loss per share of $0.10 in the third quarter of fiscal 2021. Non-GAAP basic and diluted net income per share was $1.15 and $1.10, respectively, compared to a non-GAAP basic and diluted net income per share of $0.92 and $0.86, respectively, in the same period last year.2
- Operating cash flows were $384.7 million compared to $293.8 million in the prior year.
- Cash, cash equivalents, and marketable securities were $3.55 billion as of October 31, 2021.
“We delivered another strong quarter as we continue to expand our addressable market through our diverse product portfolio and multiple go-to-market levers, helping to support our sustained growth,” said Aneel Bhusri, co-founder, co-CEO, and chairman, Workday. “I continue to remain optimistic about the great opportunity in front of us, supported by our employees’ incredible efforts, our relentless focus on innovation, and our growing customer community – which consists of some of the world’s largest organizations that are making long-term investments in their future with Workday.”
“In the third quarter, we continued to see increased demand exceed our expectations, with more global organizations selecting our products to manage their people and finances and existing customers expanding their Workday footprint,” said Chano Fernandez, co-CEO, Workday. “As we look to the future, we will continue to accelerate our investments in our go-to-market efforts and our people, who are so critical to our success. We are well positioned with a strong foundation heading into fiscal 2023.”
“We reported a strong third quarter, once again accelerating subscription revenue growth, as organizations across the globe look to Workday as their strategic partner in driving their Finance and HR digital transformations,” said Robynne Sisco, co-president and chief financial officer, Workday. “As a result, we are raising our fiscal 2022 guidance for subscription revenue to a range of $4.533 billion to $4.535 billion, growth of 20%. We expect fourth-quarter subscription revenue of $1.216 billion to $1.218 billion, growth of 21%. We are also raising our fiscal 2022 non-GAAP operating margin guidance to 22%.”
