Short answer
Workday, Inc. (WDAY) filed its fiscal 2025 10-K annual report with the SEC on Mar 11, 2025. It reported revenue of $8.4B (+16.4% year over year) and net income of $526M.
- Top risk flagged: Regulatory risk from OECD Pillar Two global minimum tax adoption impacting effective tax rate and obligations across multiple jurisdictions
FY2025 key financial metrics · XBRL
- Revenue
- $8.4B
- +16.4% YoY
- Net income
- $526M
- −61.9% YoY
- Operating margin
- 4.9%
- +2.4 pp YoY
- EPS (diluted)
- $1.95
- −62.6% YoY
- ROE
- 5.8%
- −11.3 pp YoY
- Operating cash flow
- $2.5B
- +14.5% YoY
Source: XBRL data from the Workday, Inc. (WDAY) FY2025 10-K on SEC EDGAR. USD.
Workday, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: AI-powered cloud platform managing workforce, finances, spend, and planning for 11,000+ global organizations
- New products: Launched Workday Illuminate AI platform, new AI agents for recruiting, payroll, contracts, finance; Workday Wellness added
- Strategic shift: Emphasis on agentic AI with Workday Agent System of Record to centralize AI agent management, enhancing automation capabilities
- Quantitative highlight: Over 70 million users under contract, serving 60%+ of Fortune 500 companies; 12 new Industry Accelerators introduced in FY25
- Noteworthy fact: Acquisitions of HiredScore and Evisort to enhance AI-powered talent orchestration and document intelligence platforms
Management Discussion & Analysis
- Operating margin focus with expectation of expense ratio decrease; no actual % margin figures provided
- Fiscal 2026 Restructuring Plan to cut ~8% workforce, exit office space; no buybacks, dividends, capex numbers disclosed
- Forward outlook: cautious demand amid macroeconomic uncertainty, expect moderation in revenue growth, flexible payment terms offered
Risk Factors
- Regulatory risk from OECD Pillar Two global minimum tax adoption impacting effective tax rate and obligations across multiple jurisdictions
- Macroeconomic exposure to higher investment costs driven by $50 million increase in other income due to elevated interest rates and balances
- Operational risk from increasing data center capacity expenses by $44 million affecting cost of subscription services and infrastructure scalability
- Competitive risk from evolving customer subscription mix and pricing pressure due to new competitor products affecting market acceptance
- Financial risk from ongoing Fiscal 2026 Restructuring Plan with estimated $230-$250 million charges including $200-$210 million severance and office impairments
Generated from the filing text; verify against the original. How to read a 10-K
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