Q1 FY24 Workday Financial Results and Customer Wins
Reconciliation of GAAP to Non-GAAP Data
Three Months Ended April 30, 2022
(in thousands, except percentages and per
share data)
GAAP
Share-Based
Compensation
Expenses
Other Operating
Expenses²
Income Tax and
Non-GAAP
Dilution Effects³
Costs and expenses:
Costs of subscription services
Costs of professional services
Product development
Sales and marketing
General and administrative
Operating income (loss)
$
232,922 $
(26,230) $
(16,326)
$
169,899
(27,584)
(3,899)
541,509
(153,304)
(13,011)
429,301
(59,169)
(14,046)
133,869
(45,219)
(2,613)
| | | | |
$
190,366
138,416
375,194
(72,843)
311,506
49,895
356,086
86,037
288,558
Operating margin
(5.1)%
21.7 %
3.5 %
%
20.1 %
Other income (expense), net
(20,163)
(20,163)
Income (loss) before provision for (benefit from)
(93,006)
311,506
49,895
268,395
income taxes
Provision for (benefit from) income taxes
9,167
Net income (loss)
$
Net income (loss) per share, basic¹
$
Net income (loss) per share, diluted¹
$
SSS
(102,173)
(0.41) $
(0.41) $
$
1.24
311,506 $
1.24 $
$
0.20
49,895 $
0.20 $
$
41,828
(41,828) $
50,995
217,400
6969
(0.17) $
0.86
(0.20) $
0.83
1.
2.
3.
GAAP net loss per share is calculated based upon 251,743 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated
based upon 251,743 basic and 263,473 diluted weighted-average shares of common stock. The numerator used to compute non-GAAP diluted net income per share was
increased by $1.3 million for after-tax interest expense on our convertible senior notes in accordance with the if-converted method.
Other operating expenses include employer payroll tax-related items on employee stock transactions of $28.3 million and amortization of acquisition-related intangible
assets of $21.6 million.
We utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For
fiscal 2023, the non-GAAP tax rate was 19%. Included in the per share amount is a dilution impact of $0.03 from the conversion of GAAP diluted net loss per share to
non-GAAP diluted net income per share.View entire presentation