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Workday Inc. (WDAY+0.10%) has filed its Form 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenues of $8.4 billion, an increase from $7.3 billion in the previous year. Subscription services revenues accounted for $7.7 billion, up from $6.6 billion in the prior year.
The company reported a GAAP operating income of $415 million, compared to $183 million in the previous year. Non-GAAP operating income was $2.2 billion, up from $1.7 billion.
Workday's net income for the fiscal year was $526 million, down from $1.38 billion in the previous year, which included a significant tax benefit.
The company ended the fiscal year with $8.0 billion in cash, cash equivalents, and marketable securities, compared to $7.8 billion at the end of the previous fiscal year.
Workday's total subscription revenue backlog was reported at $25.1 billion, with $7.6 billion expected to be recognized as revenue over the next 12 months.
The company announced a restructuring plan expected to result in a reduction of approximately 8% of the workforce, with estimated charges of $230 million to $250 million.
Workday's annual report highlights the acquisition of Evisort Inc. and HiredScore, Inc., aimed at enhancing its AI capabilities in document intelligence and talent orchestration.
The filing also discusses Workday's continued investment in product development, sales and marketing, and general administrative expenses to support its growth strategy.
Workday's management expressed confidence in the company's long-term growth prospects, despite current macroeconomic challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Workday Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.