- Total revenues were $1.06 billion, an increase of 19.6% from the second quarter of fiscal 2020. Subscription revenue was $931.7 million, an increase of 23.1% from the same period last year.
- Operating loss was $16.8 million, or negative 1.6% of revenues, compared to an operating loss of $122.5 million, or negative 13.8% of revenues, in the same period last year. Non-GAAP operating income for the second quarter was $257.7 million, or 24.3% of revenues, compared to a non-GAAP operating income of $117.5 million, or 13.2% of revenues, in the same period last year.1
- Net loss per basic and diluted share was $0.12, compared to a net loss per basic and diluted share of $0.53 in the second quarter of fiscal 2020. Non-GAAP net income per diluted share was $0.84, compared to a non-GAAP net income per diluted share of $0.44 in the same period last year.2
- Operating cash flows were $157.2 million compared to $100.3 million in the prior year.
- Cash, cash equivalents, and marketable securities were $2.75 billion as of July 31, 2020.
“It was a strong quarter despite the environment, with continued demand for our products as more organizations realize how mission critical cloud-based systems are in supporting their people and businesses through continuous change,” said Aneel Bhusri, co-founder and co-CEO, Workday. “As we navigate this unique time, we will continue to deliver new solutions that extend the power of Workday to help customers make more informed people and finance decisions, including how to safely return to work. We also are more committed than ever to our culture and core values, prioritizing our employees – and the importance of equality in the workforce – as we look to emerge stronger together with our customers and communities.”
“We executed extremely well in the second quarter and delivered solid results, with subscription revenue growth of 23.1% and non-GAAP operating margin of 24.3%,” said Robynne Sisco, president and chief financial officer, Workday. “As a result of our strong Q2 performance, we are raising our fiscal 2021 subscription revenue guidance to a range of $3.73 billion to $3.74 billion. We expect third-quarter subscription revenue of $948.0 million to $950.0 million. We are also raising our fiscal 2021 non-GAAP operating margin guidance to 18.0%. Despite the near-term uncertainty that remains, our first-half performance has reinforced our confidence in the fundamental strength of our business, and in the long-term opportunity that we see ahead.”
