PLEASANTON, CA -- (Marketwire) -- 03/07/13 -- Workday, Inc. (NYSE: WDAY), a leader in enterprise cloud applications for human resources and finance, today announced financial results for the fourth quarter and full year fiscal ended January 31, 2013.
Fiscal Fourth Quarter Results:
•Total revenues for the fourth quarter were $81.5 million, an increase of 89% from the fourth quarter of 2012. Subscription revenues were $59.6 million, an increase of 105% from same period last year.
•Operating loss for the fourth quarter was $30.7 million, compared to an operating loss of $23.1 million in the same period last year. Non-GAAP operating loss for the fourth quarter was $25.2 million, compared to a non-GAAP operating loss of $21.7 million last year.(1)
•Net loss per basic and diluted share for the fourth quarter was $0.19, compared to a net loss per basic and diluted share of $0.77 in the fourth quarter of fiscal 2012. The fourth quarter non-GAAP net loss per basic and diluted share was $0.16, compared to a non-GAAP net loss per basic and diluted share of $0.73 during the same period last year.(1)
•Operating cash flows were $5.9 million in the fourth quarter. Free cash flows were a negative $4.0 million in the fourth quarter.(2)
Fiscal Year 2013 Results:
•Total revenues were $273.7 million, an increase of 104% from 2012. Subscription revenues for the full year were $190.3 million, up 115% year over year.
•Operating loss was $117.9 million, compared to an operating loss of $78.4 million last year. Non-GAAP operating loss was $91.3 million, compared to a non-GAAP operating loss of $74.3 million last year.(1)
•Net loss per basic and diluted share was $1.62, compared to a net loss per basic and diluted share of $2.71 last year. The non-GAAP net loss per basic and diluted share was $1.26, compared to a non-GAAP net loss per basic and diluted share of $2.57 last year.(1)
•Workday generated operating cash flows of $11.2 million in 2013. Free cash flows were a negative $23.4 million.(2)
•Cash, cash equivalents, and marketable securities were $790.3 million as of January 31, 2013. Unearned revenue was $285.3 million, a 52% increase from last year.
"Our fourth quarter ended a remarkable year for us with significant expansion in our customer base, suite of applications, and our global workforce," said Aneel Bhusri, chairman, co-founder, and co-CEO, Workday. "Heading into fiscal 2014, we are focused on growth across Europe and APAC as enterprises everywhere look to move HR and Finance operations to the cloud. We remain committed to delivering the highest levels of customer satisfaction and product innovation, while extending our unique employee-centric culture to Workday offices worldwide."
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