Jul 2026 (Q2 FY27) — Aug 27, 2026
Workday Q2 FY27 — Strong AI Product Adoption and Revenue Growth
Read the full callWorkday (WDAY) earnings
- Jul 2026
- Jul 2026 (Q2 FY27)
- Jan 2026
Workday earnings: last reported Thu, 27 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,649 | +12.8% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 11.8 | +1.3 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 632 | +177.2% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
38 of 39 judged targets kept · 35 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| General availability of five organically built agents in the R1 release | Self-Service, Planning, Deployment, Payroll and Business Process Optimize agents in general availability with the March R1 release | Jan 2026 | We now have 20 organic agents in GA or EA, and a number of customers using these agents has more than doubled quarter-over-quarter with over 4,000 customers using at least one organically developed agent as of today. | Achieved |
| Full-year non-GAAP operating margin | 30% | Jul 2024 | We are increasing our FY '27 non-GAAP operating margin guidance to 30.5%. | Revised Up |
| Full-year capital expenditures | approximately $270 million | Jan 2026 | we continue to expect FY '27 capital expenditures of approximately $270 million | On Track |
1 of Workday, Inc.'s 74 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 71 more targets are in the full ledger.
Claimed
- AI products drove over $100 million in new ACV, accounting for more than 25% of all new ACV closed in the quarter.
- Over 5,500 customers are using one or more organic AI agents, up more than 35% from last quarter.
- AI ARR reached nearly $600 million, up over 200% year-over-year and over 20% from last quarter.
- Non-GAAP operating margin was 31.1% for the quarter, driven by revenue outperformance and cost discipline.
- The $5 billion share repurchase plan was completed 6 months ahead of target, with a new $4 billion program approved.
Qualified
- Operating cash flow declined year-over-year to $520 million due to timing of the payroll calendar.
- Free cash flow declined year-over-year to $460 million due to timing of the payroll calendar.
- Total subscription revenue backlog growth slowed to 8% year-over-year, impacted by a mix shift towards customer-based bookings.
Price
$195.2 +2.30% · +$4.39
Performance −16.7% 1Y
1Y: $234.25 on 17 Oct 2025 → $195.2. High $245.67 (21 Oct 2025), low $112.5 (10 Apr 2026).
- Previous close
- $190.81
- 52-week range
- $112.5 – $245.67
- One year
- −19.07%
Overview
- Symbol
- WDAY
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
38 of 39 judged targets kept · 35 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| General availability of five organically built agents in the R1 release | Self-Service, Planning, Deployment, Payroll and Business Process Optimize agents in general availability with the March R1 release | Jan 2026 | We now have 20 organic agents in GA or EA, and a number of customers using these agents has more than doubled quarter-over-quarter with over 4,000 customers using at least one organically developed agent as of today. | Achieved |
| Full-year non-GAAP operating margin | 30% | Jul 2024 | We are increasing our FY '27 non-GAAP operating margin guidance to 30.5%. | Revised Up |
| Full-year capital expenditures | approximately $270 million | Jan 2026 | we continue to expect FY '27 capital expenditures of approximately $270 million | On Track |
Claimed
- AI products drove over $100 million in new ACV, accounting for more than 25% of all new ACV closed in the quarter.
- Over 5,500 customers are using one or more organic AI agents, up more than 35% from last quarter.
- AI ARR reached nearly $600 million, up over 200% year-over-year and over 20% from last quarter.
- Non-GAAP operating margin was 31.1% for the quarter, driven by revenue outperformance and cost discipline.
- The $5 billion share repurchase plan was completed 6 months ahead of target, with a new $4 billion program approved.
Qualified
- Operating cash flow declined year-over-year to $520 million due to timing of the payroll calendar.
- Free cash flow declined year-over-year to $460 million due to timing of the payroll calendar.
- Total subscription revenue backlog growth slowed to 8% year-over-year, impacted by a mix shift towards customer-based bookings.
The full ledger
Open Workday, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 74 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q1 FY27) — May 21, 2026
Workday Q1 FY27 — Best Q1 new ACV growth in five years as agentic AI momentum builds
Read the full callJan 2026 (Q4 FY26) — Feb 24, 2026
Workday Q4 FY26 — AI-driven Innovation and Strong Customer Expansion
Read the full callEvery analysed call
Workday earnings calls (WDAY)
Financials
What the filings say
Net profit, year on year: +177% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,160 | 2,211 | 2,240 | 2,348 | 2,432 | 2,532 | 2,542 | 2,649 |
| Operating profit | 165 | 75 | 39 | 248 | 259 | 175 | 338 | 313 |
| Operating margin | 7.6% | 3.4% | 1.7% | 10.6% | 10.7% | 6.9% | 13.3% | 11.8% |
| Other income | 62 | 45 | 64 | 56 | 79 | 89 | 17 | 14 |
| Interest | 29 | 28 | 29 | 29 | 29 | 27 | 26 | 28 |
| Profit before tax | 227 | 120 | 103 | 304 | 338 | 264 | 355 | 327 |
| Tax rate | 15.0% | 21.7% | 34.0% | 25.0% | 25.4% | 45.1% | 37.5% | −93.3% |
| Net profit | 193 | 94 | 68 | 228 | 252 | 145 | 222 | 632 |
| EPS ($ per share) | 0.73 | — | 0.25 | 0.86 | 0.95 | — | 0.87 | 2.58 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -2,146 | -2,627 | -2,910 | -2,745 | -3,112 | -1,731 | -1,205 | -512 |
| Total liabilities | 3,562 | 4,330 | 5,441 | 5,963 | 7,901 | 8,370 | 8,943 | 10,269 |
| Fixed assets | 797 | 936 | 972 | 1,123 | 1,201 | 1,234 | 1,239 | 1,093 |
| Investments | — | 1,213 | 2,151 | 2,110 | 4,235 | 5,801 | 6,474 | 3,942 |
| Total assets | 5,521 | 6,816 | 8,718 | 10,499 | 13,486 | 16,452 | 17,977 | 18,074 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 607 | 865 | 1,268 | 1,651 | 1,657 | 2,149 | 2,461 | 2,939 |
| Cash from investing | -843 | -897 | -1,242 | -1,607 | -2,506 | -1,751 | -1,781 | 333 |
| Cash from financing | -257 | 125 | 625 | 110 | 1,204 | -268 | -1,150 | -3,319 |
| Net cash flow | -493 | 93 | 653 | 153 | 354 | 129 | -470 | -45 |
| Capital expenditure | -384 | — | — | — | -364 | -232 | -269 | -162 |
| Free cash flow | 223 | — | — | — | 1,293 | 1,917 | 2,192 | 2,777 |
WDAY revenue by segment
| Segment | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Professional Services | 9% | 8% | 8% | 8% | 8% | 7% | 7% | 7% | -0.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
WDAY operating KPIs by quarter
| KPI | Jan 2025 Q4 FY25 | Jul 2025 Q2 FY26 | Oct 2025 Q3 FY26 | Jan 2026 Q4 FY26 | Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Customers | 11K+Workday now serves more than 11,000 customers across industries and geographies, including more than 60% of the Fortune 500 and 30% of the Global 2000.Source: earnings call transcript | 11K+We have over 11,000 customers today, a strong installed base that includes 65% of the Fortune 500.Source: earnings call transcript | — | 11.5K+With over 11,500 global customers, expansions remain our largest growth engine.Source: earnings call transcript | 11.5K+We're start-up sitting on one of the most important enterprise platforms ever built and the trust of more than 11,500 customers.Source: earnings call transcript | — | — |
| Remaining performance obligation (RPO) 12-month subscription revenue backlog | $7.63B12-month subscription revenue backlog, or cRPO, was $7.63 billion at the end of Q4, growing 15%.Source: earnings call transcript | $7.91B12-month subscription revenue backlog, or cRPO, was $7.91 billion at the end of Q2, increasing 16.4%.Source: earnings call transcript | $8.21B12-month subscription revenue backlog or cRPO, was $8.21 billion at the end of Q3, increasing 17.6%.Source: earnings call transcript | $8.83B12-month subscription revenue backlog or cRPO was $8.83 billion at the end of Q4, growing 15.8%.Source: earnings call transcript | $8.81B12-month subscription revenue backlog or cRPO, was $8.81 billion at the end of Q1, growing 15.5%.Source: earnings call transcript | $9.03B12-month subscription revenue backlog or CRPO, ended the quarter at $9.03 billion, an increase of 14.2%.Source: earnings call transcript | +2.5% |
| Remaining performance obligation (RPO) Subscription revenue backlog | $25.06BTotal subscription revenue backlog at the end of Q4 was $25.06 billion, up 20%, and gross revenue retention rates remained strong at 98%.Source: earnings call transcript | $25.37BTotal subscription revenue backlog at the end of the quarter was $25.37 billion, up 18%, and gross revenue retention rates remained healthy at 97%.Source: earnings call transcript | $25.96BTotal subscription revenue backlog at the end of the quarter was $25.96 billion, up 17%, and gross revenue retention rates remained healthy at 97%.Source: earnings call transcript | $28.1BTotal subscription revenue backlog at the end of Q4 was $28.1 billion, up 12%.Source: earnings call transcript | $27.29BTotal subscription revenue backlog at the end of Q1 was $27.29 billion, up 11%.Source: earnings call transcript | $27.4BTotal subscription revenue backlog ended Q2 at $27.4 billion, up 8% from a year ago.Source: earnings call transcript | +0.4% |
| Employees | ~20.4KOur head count as of January 31 was approximately 20,400 Workmates, not reflecting the restructuring that took place in early February, which we expect will reduce our workforce by approximately 8%.Source: earnings call transcript | ~19.5KOur headcount as of July 31 stood at approximately 19,500 Workmates around the globe.Source: earnings call transcript | 20.588KOur head count as of October 31, stood at 20,588 workmates around the globe, including roughly 600 workmates from the Paradox acquisition.Source: earnings call transcript | 21.07KOur head count as of January 31 was 21,070 workmates around the globe.Source: earnings call transcript | 20.834KOur headcount as of quarter end stood at 20,834 workmates around the globe.Source: earnings call transcript | 20.896KOur headcount as of quarter end stood at 20,896 workmates around the globe.Source: earnings call transcript | +0.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- US 74% ↓ 1 pt
- Non Us 26% ↑ 1 pt
As WDAY cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
374 filings between Nov 5, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$573.99M
276 sales by 7 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 24
- Award — granted as compensation
- 34
- Tax withheld — shares kept back by the company to cover tax
Also filed: 37 conversions, 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DUFFIELD DAVID A | — | $557.00M | Oct 9, 2026 |
| Enslin Robert | — | $7.09M | Oct 5, 2026 |
| Kazmaier Gerrit S | — | $4.32M | Oct 6, 2026 |
| Rowe Zane | — | $4.01M | Oct 6, 2026 |
| Garfield Mark S. | — | $683.3K | Oct 12, 2026 |
| Eschenbach Carl M. | — | $656.3K | Jan 5, 2026 |
| Sauer Richard Harry | — | $237.3K | Jan 6, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | Garfield Mark S. Chief Accounting Officer | Sale 10b5-1 plan | 918 | $173.9K |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 46,607 | $8.69M |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 14,294 | $2.67M |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 14,228 | $2.68M |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 10,472 | $1.99M |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 1,502 | $286.8K |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Conversion 10b5-1 plan | 99,835 | $0 |
| Oct 9, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 12,732 | $2.41M |
| Oct 6, 2026 | Rowe Zane Chief Financial Officer | Sale 10b5-1 plan | 800 | $151.4K |
| Oct 6, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Sale 10b5-1 plan | 500 | $94.7K |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 10,054 | $1.89M |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 2,800 | $517.5K |
| Oct 6, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Sale 10b5-1 plan | 200 | $37.0K |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 45,984 | $8.58M |
| Oct 6, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Sale 10b5-1 plan | 500 | $93.4K |
| Oct 6, 2026 | Rowe Zane Chief Financial Officer | Sale 10b5-1 plan | 300 | $55.5K |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 10,572 | $2.00M |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 19,534 | $3.68M |
| Oct 6, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Sale 10b5-1 plan | 1,029 | $191.7K |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 10,284 | $1.91M |
| Oct 6, 2026 | Rowe Zane Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $187.2K |
| Oct 6, 2026 | DUFFIELD DAVID A 10% owner | Conversion 10b5-1 plan | 99,228 | $0 |
| Oct 6, 2026 | Rowe Zane Chief Financial Officer | Sale 10b5-1 plan | 2,800 | $522.1K |
| Oct 6, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Sale 10b5-1 plan | 500 | $94.2K |
| Oct 6, 2026 | Rowe Zane Chief Financial Officer | Sale 10b5-1 plan | 1,100 | $207.3K |
| Oct 5, 2026 | Enslin Robert President, CCO | Sale 10b5-1 plan | 1,700 | $316.9K |
| Oct 5, 2026 | Enslin Robert President, CCO | Sale 10b5-1 plan | 2,091 | $391.9K |
| Oct 5, 2026 | Rowe Zane Chief Financial Officer | Tax withheld 10b5-1 plan | 10,010 | $1.86M |
| Oct 5, 2026 | Garfield Mark S. Chief Accounting Officer | Tax withheld | 3,491 | $649.8K |
| Oct 5, 2026 | Sauer Richard Harry Chief Legal Officer & Secty | Tax withheld | 6,783 | $1.26M |
| Oct 5, 2026 | Enslin Robert President, CCO | Sale 10b5-1 plan | 221 | $41.7K |
| Oct 5, 2026 | Enslin Robert President, CCO | Tax withheld 10b5-1 plan | 5,634 | $1.05M |
| Oct 5, 2026 | Enslin Robert President, CCO | Sale 10b5-1 plan | 736 | $136.6K |
| Oct 5, 2026 | Enslin Robert President, CCO | Sale 10b5-1 plan | 626 | $117.8K |
| Oct 5, 2026 | BHUSRI ANEEL CEO | Tax withheld | 8,502 | $1.58M |
| Oct 5, 2026 | Kazmaier Gerrit S President, Prod. and Tech. | Tax withheld 10b5-1 plan | 8,976 | $1.67M |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 9,035 | $1.67M |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 14,166 | $2.63M |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 5,300 | $974.5K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 4,600 | $892.5K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 3,800 | $725.2K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 3,900 | $746.8K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 1,809 | $340.7K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 48,972 | $9.14M |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 1,500 | $292.1K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 4,764 | $893.2K |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Conversion 10b5-1 plan | 98,446 | $0 |
| Oct 1, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 600 | $115.4K |
| Sep 28, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 3,496 | $642.8K |
| Sep 28, 2026 | DUFFIELD DAVID A 10% owner | Sale 10b5-1 plan | 2,000 | $365.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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