Workday Q1 2022 Earnings Report
Key Takeaways
Workday announced strong Q1 2022 results with total revenues of $1.18 billion, a 15.4% increase year-over-year, and subscription revenue of $1.03 billion, a 17.0% increase year-over-year. The company raised its fiscal 2022 guidance for subscription revenue to a range of $4.425 to $4.440 billion, representing 17% growth, and expects Q2 subscription revenue of $1.095 billion to $1.097 billion, reflecting 18% growth. Workday also raised its fiscal 2022 non-GAAP operating margin guidance to a range of 18% to 19%.
Total revenues reached $1.18 billion, up 15.4% year-over-year.
Subscription revenue was $1.03 billion, up 17.0% year-over-year.
Total subscription revenue backlog was $10.08 billion, up 23.0% year-over-year.
The company raised its fiscal 2022 subscription revenue guidance to $4.425 - $4.440 billion.
Workday
Workday
Workday Revenue by Segment
Forward Guidance
Workday raised its fiscal 2022 guidance for subscription revenue to a range of $4.425 to $4.440 billion, growth of 17%. They expect second-quarter subscription revenue of $1.095 billion to $1.097 billion, growth of 18%. The company is also raising its fiscal 2022 non-GAAP operating margin guidance to a range of 18% to 19%.
Positive Outlook
- Fiscal 2022 subscription revenue guidance raised to $4.425 - $4.440 billion, representing 17% growth.
- Second-quarter subscription revenue expected to be $1.095 - $1.097 billion, reflecting 18% growth.
- Fiscal 2022 non-GAAP operating margin guidance raised to a range of 18% to 19%.
- Strong execution against an improving market backdrop.
- Continued demand for solutions and increased confidence in new bookings acceleration this fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income