Workday Q4 revenue $1.65B (+19.6% YoY); guides FY24 subscription rev $6.525-6.575B, non-GAAP op margin 23%

Fiscal 2023 Fourth Quarter Results • Total revenues were $1.65 billion, an increase of 19.6% from the fourth quarter of fiscal 2022. Subscription revenues were $1.50 billion, an increase of 21.7% from the same period last year. • Operating loss was $89.0 million, or negative 5.4% of revenues, compared to an operating loss of $101.0 million, or negative 7.3% of revenues, in the same period last year. Non-GAAP operating income for the fourth quarter was $305.3 million, or 18.5% of revenues, compared to a non-GAAP operating income of $237.1 million, or 17.2% of revenues, in the same period last year. 1 • Basic and diluted net loss per share was $0.49, compared to basic and diluted net loss per share of $0.29 in the fourth quarter of fiscal 2022. Non-GAAP basic and diluted net income per share was $1.00 and $0.99, respectively, compared to non-GAAP basic and diluted net income per share of $0.82 and $0.78, respectively, in the same period last year. 2

We are maintaining the midpoint of our preliminary fiscal year 2024 subscription revenue guidance while increasing our fiscal 2024 non-GAAP operating margin outlook to the high end. We now expect subscription revenue of $6.525 billion to $6.575 billion, growth of 17% to 18%, and non-GAAP operating margin of 23.0%, which includes a 150 basis point increase resulting from a change in our useful life policy for servers and network equipment.