- Total revenues were $1.18 billion, an increase of 15.4% from the first quarter of fiscal 2021. Subscription revenue was $1.03 billion, an increase of 17.0% from the same period last year.
- Operating loss was $38.3 million, or negative 3.3% of revenues, compared to an operating loss of $144.5 million, or negative 14.2% of revenues, in the same period last year. Non-GAAP operating income for the first quarter was $288.5 million, or 24.6% of revenues, compared to a non-GAAP operating income of $130.5 million, or 12.8% of revenues, in the same period last year.1
- Net loss per basic and diluted share was $0.19, compared to a net loss per basic and diluted share of $0.68 in the first quarter of fiscal 2021. Non-GAAP net income per diluted share was $0.87, compared to a non-GAAP net income per diluted share of $0.44 in the same period last year.2
- Operating cash flows were $452.4 million compared to $263.7 million in the prior year.
- Cash, cash equivalents, and marketable securities were $2.99 billion as of April 30, 2021.
“It was a strong start to the year as more organizations turn to Workday to accelerate their digital transformation efforts and meet the evolving finance and workforce demands for a post-pandemic world,” said Aneel Bhusri, co-founder, co-CEO, and chairman, Workday. “As we look to future growth and innovation, our values are stronger than ever with our employees foundational to continued customer success, which is why we’re investing heavily in growing our workforce. In doing so, we can further embrace the opportunity in front of us to partner with more organizations globally.”
“Building on last year’s momentum, our first quarter bookings outperformance, combined with ongoing strength in our pipeline, demonstrates continued demand for our solutions and increased confidence in new bookings acceleration this fiscal year,” said Chano Fernandez, co-CEO, Workday. “A big thanks to our employees and partners around the world who play an important role in helping us achieve continued customer momentum. As we look ahead, we’ll be making investments across our organization and in new market opportunities so we can expand our efforts and build on this great start to the year.”
“We delivered solid first-quarter results driven by strong execution against an improving market backdrop,” said Robynne Sisco, president and chief financial officer, Workday. “As a result, we are raising our fiscal 2022 guidance for subscription revenue to a range of $4.425 to $4.440 billion, growth of 17%. We expect second-quarter subscription revenue of $1.095 billion to $1.097 billion, growth of 18%. We are also raising our fiscal 2022 non-GAAP operating margin guidance to a range of 18% to 19%.”
