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Oct 31, 2021
Workday Q3 2022 Earnings Report
Workday's Q3 2022 financial results were announced, showing significant year-over-year growth in total revenues and subscription revenue.
Key Takeaways
Workday announced strong Q3 2022 results with total revenues of $1.33 billion, a 20% increase year-over-year, and subscription revenue of $1.17 billion, a 21% increase year-over-year. The company is raising its fiscal year 2022 guidance for subscription revenue to $4.533 billion - $4.535 billion, representing 20% growth.
Total revenues increased by 20.0% year-over-year, reaching $1.33 billion.
Subscription revenue grew by 21.0% year-over-year, totaling $1.17 billion.
Operating income was $23.9 million, compared to an operating loss of $14.1 million in the same period last year.
Non-GAAP basic net income per share was $1.15, compared to $0.92 in the same period last year.
Workday
Workday
Workday Revenue by Segment
Revenue by Segment
Subscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Workday is raising its fiscal 2022 guidance for subscription revenue to a range of $4.533 billion to $4.535 billion, growth of 20%. The company expects fourth-quarter subscription revenue of $1.216 billion to $1.218 billion, growth of 21%. Workday is also raising its fiscal 2022 non-GAAP operating margin guidance to 22%.
Positive Outlook
- Fiscal 2022 subscription revenue guidance raised to $4.533B - $4.535B, reflecting 20% growth.
- Q4 subscription revenue expected to grow by 21%, reaching $1.216B - $1.218B.
- Fiscal 2022 non-GAAP operating margin guidance raised to 22%.
- Increased demand exceeding expectations.
- Global organizations are selecting Workday to manage their people and finances.
Revenue & Expenses
Visualization of income flow from segment revenue to net income