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Workday, Inc. 8-K Report, Financial Results (May 21, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 21, 2026
Period End
May 21, 2026
Security
WDAY
In the record · 2016–202610-K1110-Q328-K112

WDAY filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 112 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’18Aug ’18
  2. Leadership change8-K · Mar ’23Mar ’23
  3. Leadership change8-K · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed May 21, 2026. Cited figures are marked; the original filing is the authoritative source.

Workday reported fiscal 2027 first-quarter results (quarter ended April 30, 2026) with total revenues of $2.542 billiona, up 13.5% year-over-year, and subscription revenues of $2.354 billion, up 14.3%.

GAAP operating income was $338 millionb (13.3% margin) versus $39 million a year earlier, which was depressed by $166 million of restructuring charges. Non-GAAP operating income rose to $809 million, a 31.8% margin, compared with 30.2% in the prior-year period. GAAP diluted EPS was $0.87 versus $0.25, and non-GAAP diluted EPS was $2.66 versus $2.23.

Operating cash flow was $696 millionc and free cash flow was $616 million, both up sharply year-over-year. Forward indicators were mixed in tone but generally constructive. The 12-month subscription revenue backlog grew 15.5% to $8.806 billion, and total subscription backlog grew 10.9% to $27.294 billion.

Management reiterated full-year fiscal 2027 subscription revenue guidance of $9.925 billion to $9.950 billiond (12% to 13% growth) and raised the non-GAAP operating margin outlook to 30.5%. Q2 guidance calls for subscription revenue of $2.455 billion (13% growth) and a 30.0% non-GAAP operating margin. Capital deployment was significant.

Workday repurchased about 12.0 million Class A shares for $1.6 billion in the quarter, and the balance sheet shows treasury stock rising to $5.834 billion from $4.220 billion. Total debt fell to about $2.99 billion (of which $998 million is current), and cash plus marketable securities totaled $4.353 billion.

Investors should note that the GAAP profit swing is largely due to the absence of last year's restructuring charge, and that the buybacks have consumed a large share of cash generated in the period. The filing notes the release is furnished under Item 2.02 and is not deemed filed under the Exchange Act.

02—Key points

Key Highlights

  1. Total revenue of $2.542B, up 13.5% YoY; subscription revenue of $2.354B, up 14.3% YoY
  2. Non-GAAP operating margin of 31.8%, up from 30.2%; GAAP operating income of $338M versus $39M, aided by the absence of $166M in prior-year restructuring costs
  3. Non-GAAP diluted EPS of $2.66 versus $2.23; GAAP diluted EPS of $0.87 versus $0.25
  4. 12-month subscription revenue backlog of $8.806B (+15.5%); total subscription backlog of $27.294B (+10.9%)
  5. Free cash flow of $616M versus $421M, with operating cash flow of $696M
  6. Full-year FY2027 subscription revenue guidance reiterated at $9.925B–$9.950B; non-GAAP operating margin guidance raised to 30.5%
  7. Repurchased about 12.0M shares for $1.6B; cash and marketable securities of $4.353B; total debt reduced to about $2.99B

03—Questions

Frequently Asked Questions

  1. Did Workday's profitability improve in the quarter?

    Yes. Non-GAAP operating margin expanded to 31.8% from 30.2%, and GAAP operating income rose to $338M from $39M. Much of the GAAP improvement reflects the $166M of restructuring expense recorded in the prior-year quarter, which did not recur.

  2. Is Workday's full-year guidance changing?

    Subscription revenue guidance was reiterated at $9.925B to $9.950B, implying 12% to 13% growth. The non-GAAP operating margin outlook was raised to 30.5%. Q2 guidance calls for $2.455B in subscription revenue (13% growth) and a 30.0% non-GAAP operating margin.

  3. How healthy is the revenue pipeline?

    The 12-month subscription backlog grew 15.5% to $8.806B, which is faster than the 14.3% growth in subscription revenue, a constructive signal for near-term revenue visibility. Total subscription backlog grew a slower 10.9% to $27.294B.

  4. How is Workday deploying its cash?

    The company repurchased about $1.6B of stock in the quarter, far more than the $616M of free cash flow generated. Cash and marketable securities declined to $4.353B, and total debt decreased, with $998M now classified as current and due within a year. Investors should watch how buybacks are funded going forward.

  5. Does the 8-K disclose any new material events beyond earnings?

    The filing is limited to Item 2.02 (results of operations) and Item 9.01 (exhibits). The press release is furnished rather than filed, and no new management, merger, or other material events are reported in this document.

04—Continue

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