Workday has released better-than-expected results for the fiscal fourth quarter and full year ended 31 January 2021, reporting an operating loss of $73.3m in Q4 compared to $146.1m in the same period last year.
Total revenues were $1.13bn for the fourth quarter, an increase of 15.9 percent from the fourth quarter of fiscal 2020. Subscription revenue was $1.01bn, an increase of 19.8 percent from the same period last year.
For the fiscal year, total revenues were $4.3bn, an increase of 19 percent from fiscal 2020. Subscription revenue was $3.79bn, an increase of 22.4 percent from the prior year.
Robynne Sisco, president and chief financial officer at Workday, said: “Our solid fourth quarter and full year fiscal 2021 results are a testament to the strategic, mission-critical nature of our solutions. 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.