Workday, Inc. Files Q3 FY25 10-Q Report

Ticker: WDAY · Form: 10-Q · Filed: 2024-12-05T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

TL;DR

Workday's Q3 FY25 10-Q is in. Check financials.

AI Summary

Workday, Inc. filed its 10-Q for the period ending October 31, 2024. The company reported its financial results for the third quarter of fiscal year 2025. Key financial figures and operational details for this period are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Workday, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing is the quarter ended October 31, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on December 5, 2024.

What is Workday, Inc.'s fiscal year end?

Workday, Inc.'s fiscal year ends on January 31st.

What is the SEC file number for Workday, Inc.?

The SEC file number for Workday, Inc. is 001-35680.

What are the primary business segments mentioned in the filing context?

The filing context mentions 'SubscriptionServicesMember' and 'ProfessionalServicesMember' as key business segments.

Filing Stats: 4,915 words · 20 min read · ~16 pages · Grade level 17.3 · Accepted 2024-12-04 18:02:58

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of October 31, 2024, and January 31, 2024 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended October 31, 2024, and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended October 31, 2024, and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended October 31, 2024, and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three and Nine Months Ended October 31, 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 39

Controls and Procedures

Item 4. Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 64

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 64

Other Information

Item 5. Other Information 64

Exhibits

Item 6. Exhibits 65

Signatures

Signatures 66 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) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,311 $ 2,012 Marketable securities 5,846 5,801 Trade and other receivables, net 1,404 1,639 Deferred costs 244 232 Prepaid expenses and other current assets 273 255 Total current assets 9,078 9,939 Property and equipment, net 1,263 1,234 Operating lease right-of-use assets 335 289 Deferred costs, noncurrent 490 509 Acquisition-related intangible assets, net 383 233 Deferred tax assets 1,031 1,065 Goodwill 3,479 2,846 Other assets 365 337 Total assets $ 16,424 $ 16,452 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 74 $ 78 Accrued expenses and other current liabilities 323 287 Accrued compensation 476 544 Unearned revenue 3,447 4,057 Operating lease liabilities 102 89 Total current liabilities 4,422 5,055 Debt, noncurrent 2,983 2,980 Unearned revenue, noncurrent 64 70 Operating lease liabilities, noncurrent 278 227 Other liabilities 53 38 Total liabilities 7,800 8,370 Stockholders' equity: Common stock 0 0 Additional paid-in capital 11,115 10,400 Treasury stock ( 1,208 ) ( 608 ) Accumulated other comprehensive income (loss) 16 21 Accumulated deficit ( 1,299 ) ( 1,731 ) Total stockholders' equity 8,624 8,082 Total liabilities and stockholders' equity $ 16,424 $ 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 October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenues: Subscription services $ 1,959 $ 1,691 $ 5,678 $ 4,843 Professional services 201 175 557 494 Total revenues 2,160 1,866 6,235 5,337 Costs and expenses (1) : Costs of subscription services 329 264

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