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Workday, a leading provider of enterprise solutions, announced new AI capabilities at its annual developer conference, Workday DevCon 2024. Key innovations include updates to the Workday Extend platform and the launch of the Workday AI Marketplace. These advancements aim to simplify intelligent app development and provide customers with centralized access to trusted AI solutions. Notable AI services introduced include Intelligent Answers, HCM Recommender, and Data Query. The conference has seen significant growth, with attendance over 1,200 and the developer ecosystem expanding by more than 50% since last year. These updates are expected to enhance business efficiency and unlock greater value for Workday customers.
Google Cloud and Workday have announced an expanded partnership aimed at enhancing app development through generative AI. Workday will incorporate Google's Gemini models and Vertex AI into its Extend platform, allowing developers to leverage AI for code generation, troubleshooting, and natural language processing. This will enable quicker and more efficient app deployment, optimizing business performance and generating better insights. Additionally, Workday solutions are now available on Google Cloud Marketplace, simplifying the purchasing and deployment process for customers. This collaboration aims to expedite transaction processes and provide sophisticated AI tools to thousands of developers.
Workday announced that CEO Carl Eschenbach will present at the Jefferies Software Conference on May 29, 2024. The presentation will be at 9:00 a.m. PT / 12:00 p.m. ET. A live webcast and a 90-day replay will be available on the Workday Investor Relations site.
Workday has announced that the Defense Intelligence Agency (DIA) has selected Workday Government Cloud for its HR modernization efforts. This is Workday's first major foray into the U.S. Intelligence Community, reflecting its growing influence in the U.S. Federal Government market. Partnering with reseller Groundswell, Workday aims to enhance DIA's recruitment and onboarding processes, centralize HR data, and boost employee engagement and retention. This initiative addresses the pressing need to modernize legacy technologies amidst rapid demographic changes and complex intelligence challenges. Workday's collaboration with DIA builds on its existing federal customer base and reinforces its commitment to federal market transformation.
Workday (NASDAQ: WDAY) announced its fiscal 2025 first quarter financial results, posting total revenues of $1.990 billion, a 18.1% rise year over year. Subscription revenues reached $1.815 billion, up 18.8%. Operating income was $64 million, a turnaround from a $20 million loss last year. Non-GAAP operating income increased to $515 million from $396 million. Diluted net income per share stood at $0.40, up from $0.00. Non-GAAP diluted net income per share was $1.74, compared to $1.33. The 12-month subscription revenue backlog increased 17.9% to $6.60 billion, while the total backlog grew 24.2% to $20.68 billion. Operating and free cash flows were $372 million and $291 million, respectively. Workday repurchased 0.5 million shares for $134 million, and had $7.18 billion in cash and marketable securities. The company updated its fiscal 2025 subscription revenue guidance to $7.700-$7.725 billion and its non-GAAP operating margin to 25.0%.
Workday announced on May 22, 2024, that Workday VNDLY has been named a Leader and Star Performer in Everest Group's Vendor Management Systems (VMS) PEAK Matrix Assessment 2024. This marks the fourth consecutive year as a Leader and the third year as both a Leader and Star Performer. Workday VNDLY assists organizations in planning, sourcing, and managing external labor, integrating seamlessly with Workday Human Capital Management (HCM) to provide comprehensive workforce visibility.
Key features include intuitive configurability, robust invoicing, and comprehensive reporting. According to Krishna Charan, VP at Everest Group, Workday VNDLY's strengths lie in its connectivity with Workday HCM, enhanced service procurement functionalities, and decision wizard capabilities.
Mariana Santiago, General Manager of Workday VNDLY, highlights the evolving definition of 'workforce,' emphasizing the increasing reliance on contingent labor and specialized vendors.
The Groove, a modern enterprise consultancy, has announced a partnership with Workday (NASDAQ: WDAY) to help businesses optimize their use of the Workday platform.
This collaboration aims to provide a range of services including deployments, application management, and strategic guidance tailored to clients' needs.
CEO Carroll Ross highlighted their shared commitment to quality and innovation, emphasizing the partnership's foundation of trust. Chief Culture Officer Bob Maller noted their leadership team's extensive experience in the Workday ecosystem.
This partnership is expected to enhance workforce and financial management processes, driving business efficiency and growth.
Skillsoft (NYSE: SKIL) has achieved Workday Certified Integration Status, connecting its learning platform with Workday HCM and Workday Skills Cloud. This integration offers a skills-based approach to learning, career development, and talent optimization, addressing critical skills gaps identified by decision-makers. The collaboration enables organizations to have a comprehensive view of their workforce's skills, delivering impactful talent development programs and enabling tailored learning experiences.
Workday, Inc. (NASDAQ: WDAY) will release its fiscal 2025 first quarter financial results on May 23, 2024, followed by a conference call to discuss the results and business outlook. A live webcast will be accessible on the Workday Investor Relations site.
