Workday delivered better-than-expected fourth quarter financial results on Thursday. The software-as-a-service provider reported a net loss of $71 million, or 30 cents per share.
Non-GAAP earnings were 73 cents per share on revenue of $1.13 billion, up 15.9% annually. Subscription revenue was $1.01 billion, an increase of 19.8% from the same period last year.
Wall Street was expecting Q4 earnings of 55 cents per share on revenue of $1.12 billion.
Total revenue for the year was $4.32 billion, up 19% from a year ago, with non-GAAP earnings of $2.93 per share. Cash, cash equivalents, and marketable securities were $3.54 billion as of January 31.
“Our solid fourth quarter and full-year fiscal 2021 results are a testament to the strategic, mission-critical nature of our solutions and the resiliency of our business,” said Robynne Sisco, president and CFO of Workday. “We currently expect fiscal 2022 subscription revenue to be in a range of $4.38 billion to $4.40 billion, representing year-over-year growth of 16%, and we expect non-GAAP operating margins of 17%. Our focus this year is on driving accelerated bookings growth, which we expect will ultimately result in a faster pace of future subscription revenue growth.”
Analysts are looking for Q1 earnings of 58 cents a share on revenue of $1.16 billion. Shares of Workday were down around 3% after hours.
Fourth quarter developments include: