Stock Analysis on Net
Stock Analysis on Net

Workday Inc. (NASDAQ:WDAY)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Workday Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Apr 30, 2026 Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020
Subscription services
Professional services
Revenues
Costs of subscription services
Costs of professional services
Costs of revenues
Gross profit
Product development
Sales and marketing
General and administrative
Restructuring
Operating income (loss)
Other income (expense), net
Income (loss) before (provision for) benefit from income taxes
(Provision for) benefit from income taxes
Net income (loss)

Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).

Revenue trajectories exhibit consistent growth, driven primarily by a steady increase in subscription services. Total revenues expanded from 1,018 million USD in April 2020 to 2,542 million USD by April 2026. This growth is characterized by a strong reliance on subscription-based income, which grew from 882 million USD to 2,354 million USD over the analyzed period, while professional services remained relatively stagnant, fluctuating between 125 million USD and 201 million USD.

Gross Profitability and Margin Expansion
Gross profit demonstrates a positive upward trend, increasing from 713 million USD in April 2020 to 1,938 million USD in April 2026. While costs of revenues rose in absolute terms, they did not scale at the same rate as total revenues, resulting in an expansion of the gross margin. This suggests improved operational efficiency in delivering subscription services.
Operating Expense Trends
Operating expenses increased across all primary categories to support scaling. Product development costs grew from 443 million USD to 705 million USD, and sales and marketing expenses rose from 319 million USD to 679 million USD. General and administrative expenses also saw a significant increase, moving from 95 million USD to 216 million USD by the end of the period.
Operating Income Transition
A structural shift in profitability is observable. The company operated primarily at a loss between April 2020 and January 2023. A transition to consistent operating profitability began around July 2023, culminating in an operating income of 338 million USD by April 2026. This pivot indicates that the company reached a critical scale where gross profits sufficiently covered operating overhead.
Impact of Non-Recurring Items
Financial results were significantly impacted by non-operational events. A substantial spike in net income occurred in January 2024, reaching 1,188 million USD, which is directly attributable to a one-time tax benefit of 1,050 million USD. Additionally, restructuring charges became a recurring factor starting in April 2024, with significant expenses noted in January 2025 (166 million USD) and January 2026 (131 million USD), suggesting a period of strategic organizational realignment.
Net Income Stability
Excluding the anomalous tax benefit in early 2024, net income shows a trend of emerging stability. After years of losses, the most recent quarters indicate a transition to sustainable positive net income, ending the period at 222 million USD in April 2026.