Workday Q2 2021 Earnings Report
Key Takeaways
Workday announced strong Q2 2021 results with total revenues of $1.06 billion, up 19.6% year-over-year, and subscription revenue of $931.7 million, up 23.1% year-over-year. The company raised its fiscal 2021 subscription revenue guidance to a range of $3.73 billion to $3.74 billion and non-GAAP operating margin guidance to 18.0%.
Total revenues increased by 19.6% year-over-year, reaching $1.06 billion.
Subscription revenue grew by 23.1% year-over-year, amounting to $931.7 million.
The company raised its fiscal 2021 subscription revenue guidance to $3.73 billion - $3.74 billion.
Non-GAAP operating margin for the quarter was 24.3% and the company raised its fiscal 2021 non-GAAP operating margin guidance to 18.0%.
Workday
Workday
Workday Revenue by Segment
Forward Guidance
Workday is raising its fiscal 2021 subscription revenue guidance to a range of $3.73 billion to $3.74 billion. The company expects third-quarter subscription revenue of $948.0 million to $950.0 million. Workday is also raising its fiscal 2021 non-GAAP operating margin guidance to 18.0%.
Positive Outlook
- Raising fiscal 2021 subscription revenue guidance to $3.73B - $3.74B.
- Expecting Q3 subscription revenue of $948M - $950M.
- Raising fiscal 2021 non-GAAP operating margin guidance to 18.0%.
- Continued demand for our products.
- Delivering new solutions that extend the power of Workday.
Challenges Ahead
- Impact of the ongoing COVID-19 pandemic on our business.
- Breaches in our security measures.
- Service outages.
- Adverse changes in general economic or market conditions.
- Changes in sales, which may not be immediately reflected in our results due to our subscription model.
Revenue & Expenses
Visualization of income flow from segment revenue to net income