Workday, Inc. Files Q2 FY25 10-Q Report
Ticker: WDAY · Form: 10-Q · Filed: 2024-08-28T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: WDAY
TL;DR
**Workday Q2 FY25 10-Q filed. Financials look solid, stay tuned for deeper dive.**
AI Summary
Workday, Inc. filed its 10-Q for the period ending July 31, 2024. The filing details financial performance for the second quarter and the first half of fiscal year 2025. Key financial metrics and operational updates are provided, reflecting the company's ongoing business activities and strategic positioning in the enterprise software market.
Why It Matters
This report provides investors and analysts with crucial financial data and insights into Workday's performance, impacting investment decisions and market sentiment.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- Workday, Inc. (company) — Filer of the 10-Q report
- 20240731 (date) — End of the reporting period
- 20240828 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the quarter ended July 31, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on August 28, 2024.
What is Workday, Inc.'s fiscal year end?
Workday, Inc.'s fiscal year ends on January 31.
What is the primary business address of Workday, Inc.?
The primary business address of Workday, Inc. is 6110 Stoneridge Mall Road, Pleasanton, CA 94588.
What are the two main segments of Workday's business reported in this filing?
The two main segments reported are Subscription Services and Professional Services.
Filing Stats: 4,982 words · 20 min read · ~17 pages · Grade level 17.3 · Accepted 2024-08-28 16:24:32
Key Financial Figures
- $0.001 — stered Class A Common Stock, par value $0.001 WDAY The Nasdaq Stock Market LLC (Nasd
Filing Documents
- wday-20240731.htm (10-Q) — 1911KB
- wday-073120224xex31.htm (EX-3.1) — 94KB
- wday-07312024xex311.htm (EX-31.1) — 11KB
- wday-07312024xex312.htm (EX-31.2) — 12KB
- wday-07312024xex321.htm (EX-32.1) — 5KB
- wday-07312024xex322.htm (EX-32.2) — 5KB
- 0001327811-24-000165.txt ( ) — 10618KB
- wday-20240731.xsd (EX-101.SCH) — 56KB
- wday-20240731_cal.xml (EX-101.CAL) — 118KB
- wday-20240731_def.xml (EX-101.DEF) — 341KB
- wday-20240731_lab.xml (EX-101.LAB) — 758KB
- wday-20240731_pre.xml (EX-101.PRE) — 567KB
- wday-20240731_htm.xml (XML) — 1858KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of July 3 1 , 2024, and January 31, 2024 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended July 3 1 , 2024, and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended July 3 1 , 2024, and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended July 3 1 , 2024, and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended July 3 1 , 2024, and 2023 7 Notes to Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 38
Controls and Procedures
Item 4. Controls and Procedures 38
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 40
Risk Factors
Item 1A. Risk Factors 41
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 63
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 63
Other Information
Item 5. Other Information 63
Exhibits
Item 6. Exhibits 64
Signatures
Signatures 65 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Workday, Inc. Condensed Consolidated Balance Sheets (in millions) (unaudited) July 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,635 $ 2,012 Marketable securities 5,738 5,801 Trade and other receivables, net 1,292 1,639 Deferred costs 237 232 Prepaid expenses and other current assets 298 255 Total current assets 9,200 9,939 Property and equipment, net 1,259 1,234 Operating lease right-of-use assets 339 289 Deferred costs, noncurrent 487 509 Acquisition-related intangible assets, net 331 233 Deferred tax assets 1,022 1,065 Goodwill 3,257 2,846 Other assets 339 337 Total assets $ 16,234 $ 16,452 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 87 $ 78 Accrued expenses and other current liabilities 292 287 Accrued compensation 487 544 Unearned revenue 3,549 4,057 Operating lease liabilities 98 89 Total current liabilities 4,513 5,055 Debt, noncurrent 2,982 2,980 Unearned revenue, noncurrent 62 70 Operating lease liabilities, noncurrent 284 227 Other liabilities 48 38 Total liabilities 7,889 8,370 Stockholders' equity: Common stock 0 0 Additional paid-in capital 10,869 10,400 Treasury stock ( 1,051 ) ( 608 ) Accumulated other comprehensive income (loss) 19 21 Accumulated deficit ( 1,492 ) ( 1,731 ) Total stockholders' equity 8,345 8,082 Total liabilities and stockholders' equity $ 16,234 $ 16,452 See Notes to Condensed Consolidated Financial Statements 3 Table of Contents Workday, Inc. Condensed Consolidated Statements of Operations (in millions, except number of shares which are reflected in thousands and per share data) (unaudited) Three Months Ended July 31, Six Months Ended July 31, 2024 2023 2024 2023 Revenues: Subscription services $ 1,903 $ 1,624 $ 3,719 $ 3,152 Professional services 182 163 356 319 Total revenues 2,085 1,787 4,075 3,471 Costs and expenses (1) : Costs of subscription services 304 256 594 495 C