Q1 FY24 Workday Financial Results and Customer Wins
Reconciliation of GAAP to Non-GAAP Data
Three Months Ended April 30, 2023
(in thousands, except percentages and per
share data)
GAAP
Costs and expenses:
Share-Based
Compensation
Expenses
Other Operating
Expenses²
Income Tax and
Non-GAAP
Dilution Effects³
Costs of subscription services
$
239,027 $
(29,262) $
(15,672)
$
Costs of professional services
178,417
(30,040)
(3,015)
Product development
600,457
(169,934)
(11,257)
Sales and marketing
518,637
(80,123)
(13,749)
General and administrative
167,574
(60,101)
(2,591)
| | | | |
$
194,093
145,362
419,266
424,765
104,882
Operating income (loss)
(19,800)
369,460
46,284
395,944
Operating margin
(1.2)%
21.9 %
2.8 %
%
23.5%
Other income (expense), net
26,709
26,709
Income (loss) before provision for (benefit from)
income taxes
6,909
369,460
46,284
422,653
Provision for (benefit from) income taxes
6,773
73,531
80,304
Net income (loss)
Net income (loss) per share, basic¹
Net income (loss) per share, diluted¹
SSS
$
136 $
369,460
$
$
0.00 $
0.00 $
1.43 $
46,284
0.18 $
$
(73,531) $
342,349
(0.29) $
1.32
1.41
$
0.18
$
(0.28) $
1.31
1.
2.
3.
GAAP and non-GAAP net income per share are both calculated based upon 258,820 basic and 261,371 diluted weighted-average shares of common stock.
Other operating expenses include employer payroll tax-related items on employee stock transactions of $25.1 million and amortization of acquisition-related intangible
assets of $21.2 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 2024, the non-GAAP tax rate is 19%.View entire presentation