WDAY

wday-20260929

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): September 29, 2026

WORKDAY, INC.

(Exact name of registrant as specified in its charter)

Delaware001-3568020-2480422

(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

6110 Stoneridge Mall Road

Pleasanton, California 94588

(Address of principal executive offices)

Registrant’s telephone number, including area code: (925) 951-9000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A Common Stock, par value $0.001WDAYThe Nasdaq Stock Market LLC

(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition

Workday, Inc. (“Workday”) is reiterating its fiscal 2027 third quarter and full-year financial guidance provided on its fiscal 2027 second quarter earnings call on August 27, 2026, with the exception of GAAP operating margin. Due to the activities discussed in Item 2.05 below, Workday now expects its fiscal 2027 third quarter GAAP operating margin to be approximately 20 to 21 percentage points lower than its third quarter non-GAAP operating margin and its fiscal 2027 full-year GAAP operating margin to be approximately 19 percentage points lower than its full-year non-GAAP operating margin. Workday intends to exclude the charges associated with the activities discussed in Item 2.05 below from its non-GAAP financial measures.

Item 2.05 - Costs Associated with Exit or Disposal Activities

On September 29, 2026, certain functions within Workday announced reorganizations designed to better align team structures with Workday’s strategic growth priorities. These actions include a reduction of approximately 2.5% of Workday’s current workforce, primarily within Workday’s Product and Technology team, and select leased office space reductions. Workday plans to continue to hire in key strategic areas and locations throughout its fiscal 2027.

In connection with the above, Workday estimates that it will incur approximately $65 million to $80 million in charges, of which approximately $55 million to $70 million is expected to be recognized in the third quarter of fiscal 2027, and $10 million is expected to be recognized in the fourth quarter of fiscal 2027. These charges consist of approximately $40 million to $55 million of future cash expenditures related to severance payments, employee benefits, and related costs and approximately $10 million in non-cash charges for stock-based compensation. The charges also consist of approximately $15 million in non-cash charges related to the impairment of certain leased office space.

The employee-related actions described above are expected to be substantially completed by the first quarter of fiscal 2028, subject to local law and consultation requirements. The actions associated with the leased office space are expected to be substantially completed by the fourth quarter of fiscal 2027.

The estimates of the charges and expenditures that Workday expects to incur in connection with the above, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements including, but not limited to, statements related to the expected benefits and impact of the reorganizations, the expected hiring plans, the percentage of employees to be impacted, the estimate

EX-99.1

2 wday-04302026x991.htm

EX-99.1

Document

Exhibit 99.1

Workday Announces Fiscal 2027 First Quarter Financial Results

Fiscal First Quarter Total Revenues of $2.542 Billion, Up 13.5% Year-Over-Year

Subscription Revenues of $2.354 Billion, Up 14.3% Year-Over-Year

PLEASANTON, Calif., May 21, 2026 – Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for HR, finance, and IT, today announced results for the fiscal 2027 first quarter ended April 30, 2026.

Fiscal 2027 First Quarter Results

•Total revenues were $2.542 billion, an increase of 13.5% from the first quarter of fiscal 2026. Subscription revenues were $2.354 billion, an increase of 14.3% from the same period last year.

•Operating income was $338 million, or 13.3% of revenues, compared to an operating income of $39 million, or 1.8% of revenues, in the same period last year. Operating income in the first quarter of fiscal 2026 was impacted by restructuring expenses of $166 million. Non-GAAP operating income for the first quarter was $809 million, or 31.8% of revenues, compared to a non-GAAP operating income of $677 million, or 30.2% of revenues, in the same period last year.1

•Diluted net income per share was $0.87, compared to diluted net income per share of $0.25 in the same period last year. Diluted net income per share in the first quarter of fiscal 2026 was impacted by restructuring expenses of $166 million. Non-GAAP diluted net income per share was $2.66, compared to non-GAAP diluted net income per share of $2.23 in the same period last year.1

•12-month subscription revenue backlog was $8.806 billion, up 15.5% from the same period last year. Total subscription revenue backlog was $27.294 billion, increasing 10.9% year-over-year.

•Operating cash flows were $696 million compared to $457 million in the same period last year. Free cash flows were $616 million compared to $421 million in the same period last year.1

•Workday repurchased approximately 12.0 million shares of Class A common stock for $1.6 billion as part of its share repurchase programs.

•Cash, cash equivalents, and marketable securities were $4.353 billion as of April 30, 2026.

1See the section titled “About Non-GAAP Financial Measures” in the accompanying financial tables for further details.

Comments on the News

“We had a great Q1, and it makes one thing clear: Workday is ready for this AI moment. Our core business is strong, our AI strategy is working, and we’re moving with the speed and focus required to lead,” said Aneel Bhusri, co-founder, CEO, and chair, Workday. “I am very excited about Workday’s position and our path ahead. We have the platform, the trust, and the innovation to lead this next chapter, just as we did when we founded the company.”

“Our first quarter results demonstrate ongoing customer adoption across our platform, as enterprises around the globe turn to Workday to manage and empower their most important assets,” said Zane Rowe, CFO, Workday. “We are reiterating our fiscal 2027 subscription revenue outlook of $9.925 billion to $9.950 billion, while increasing our fiscal 2027 non-GAAP operating margin guidance to 30.5%. Our focus remains on executing on our agentic AI roadmap while driving operational efficiencies as we scale.”

Recent Business Highlights

•Workday welcomed new customers including ACHM Hotels by Marriott, Australian Gas Infrastructure Group, Del Monte Fresh Produce Company, Smiths Group, and State of Delaware, and expanded existing relationships with Bank OZK, GE Vernova, and Queensland University of Technology.

•The number of customers using Workday’s organically developed agents has more than doubled quarter-over-quarter, with over 4,000 customers using at least one of these agents, as of today, to support their business processes.

•In Q1, Workday supported 14 million hiring processes with its Recruiting Agent, up 44% year-over-year.

•The Workday customer community now represents more than 80 million users under contract.

•Sana from Workday – superintelligence for work – is now available to customers worldwide. Workday also introduced Sana for IT Service Management (ITSM) to handle common service tasks from HR, finance, and IT, and a new Travel Agent to bring travel and expenses together in one seamless experience.

•The Workday Agent System of Record is now generally available, giving customers visibility and control over all of their AI agents.

•Workday introduced new innovations to support the public sector and veteran workforce, including the Personnel Action Request Agent to modernize federal HR transactions and Military Skills Mapper to help organizations more effectively identify and hire military veteran talent.

•Workday expanded into Vietnam, its sixth market in the ASEAN region, joining Singapore, Malaysia, Thailand, Indonesia, and the Philippines.

•Workday announced EU-based data residency in Frankfurt and multilingual support for Workday Contract Lifecycle Management, providing organizations with a cont