Workday demonstrated strong financial performance and strategic growth in AI and international markets, despite facing some challenges such as macroeconomic headwinds in EMEA and restructuring costs. The company showed solid customer retention and expanding opportunities through partner ecosystems.

Company Guidance -

Q2 2026

During the fourth quarter fiscal 2025 earnings call, Workday provided guidance indicating a solid outlook for fiscal year 2026 with a projected subscription revenue growth of 14%, amounting to approximately $8.8 billion, despite a $20 million headwind from the strengthening U.S. dollar. The company also anticipates a non-GAAP operating margin of 28% for FY '26, alongside an operating cash flow of $2.75 billion. Workday plans to invest strategically in AI, international markets, and its partner ecosystem to support mid-teens subscription revenue growth and a 30% non-GAAP operating margin over the medium term. Furthermore, the company highlighted strong customer momentum, with over 30% of net-new wins being full suite solutions, and a significant portion of new ACV sourced through partners, marking a notable increase from the previous quarter.

Strong Revenue Growth

Workday reported a 16% increase in subscription revenue for Q4, reaching $2.040 billion, with a full-year growth of 17% to $7.718 billion. Total revenue for the year was $8.45 billion, up 16%.

High Customer Retention

Gross revenue retention rates remained strong at 98% with a total subscription revenue backlog of $25.06 billion, up 20%.

AI Integration and Expansion

Workday launched the Agent System of Record, allowing management of AI agents, and saw significant growth in AI-related offerings such as Extend Pro and Recruiting Agent, with new ACV nearly doubling over Q3.

Partner Ecosystem Growth

More than 15% of net new ACV was sourced through partners in Q4, demonstrating increased collaboration and expansion of the partner ecosystem.

International Market Success

Despite macro headwinds, Workday saw strong performance in key international markets, especially in the U.K. and Germany, with significant new customer wins.

Workday (WDAY) Earnings, Revenues Date & History

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WDAY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 21, 2025	2026 (Q2)	2.11 / -	1.75	―	―	―
May 22, 2025	2026 (Q1)	2.01 / 2.23	1.74	28.16% (+0.49)
Feb 25, 2025	2025 (Q4)	1.78 / 1.92	1.57	22.29% (+0.35)
Nov 26, 2024	2025 (Q3)	1.78 / 1.89	1.53	23.53% (+0.36)
Aug 22, 2024	2025 (Q2)	1.65 / 1.75	1.43	22.38% (+0.32)
May 23, 2024	2025 (Q1)	1.60 / 1.74	1.31	32.82% (+0.43)
Feb 26, 2024	2024 (Q4)	1.47 / 1.57	0.99	58.59% (+0.58)
Nov 28, 2023	2024 (Q3)	1.41 / 1.53	0.99	54.55% (+0.54)
Aug 24, 2023	2024 (Q2)	1.26 / 1.43	0.83	72.29% (+0.60)
May 25, 2023	2024 (Q1)	1.12 / 1.31	0.83	57.83% (+0.48)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

WDAY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 22, 2025	$272.07	$238.01	-12.52%
Feb 25, 2025	$255.22	$271.09	+6.22%
Nov 26, 2024	$270.19	$253.40	-6.21%
Aug 22, 2024	$231.08	$259.95	+12.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.