Workday wraps up fiscal 2014 with 71% gain, buys HR-oriented predictive analytics company.
7 Super Certifications For IT Pros
(Click image for larger view and slideshow.)
Workday wrapped up its first full year as a public company reporting Wednesday a 71% year-over-year gain in total revenues and an 86% increase in subscriptions revenues. The outcomes handily surpassed Wall Street expectations. The corporate also announced it has acquired Identified, a startup company that gives predictive analytics software for human resources applications.
Workday’s total revenues for the fiscal year ended January 31 were $468.9 million, while subscription revenues were $354.2 million. Fourth-quarter revenue jumped 74%, to $141.9 million, while analysts had expected $137.9 million. The corporate said revenue within the current quarter shall be $148 million to $153 million, whereas financial analysts were expecting $148 million to be the ceiling.
“Fiscal 2014 marked a serious year of growth with greater than 200 new customers and 800 new employees joining Workday,” said Workday chairman, co-founder, and co-CEO Aneel Bhusri in an announcement. “Throughout the year, we also accelerated adoption of our financials product, increased market presence within the education and government industries, and expanded our applications with the delivery of Workday Big Data Analytics.”
[Want more on Workday? Read Workday Brings Consumer Web Experience To Enterprise Apps.]
The young company remains to be faraway from profitable, however the income trend is headed within the right direction. The operating loss for fiscal 2014 was $153.3 million, or negative 32.7% of total revenues, in comparison to an operating lack of $117.9 million, or negative 43.1% of total revenues, in fiscal 2013. Given the company’s cash flow and backlog of recent business, the financial community isn’t worried.
“We believe Workday is driving the transition of HCM and monetary applications from stale and technologically limited on-premise solutions,” wrote Wells Fargo equity research analyst Jayson Maynard at the company’s latest results. “We believe that Workday’s SaaS delivery model, broad product offerings, and developer tools represent valuable differentiators.”
Workday co-founders Dave Duffield, left, and Aneel Bhusri.
Workday said in an announcement that it acquired Identified to “enhance search capabilities and accelerate the delivery of predictive analytics and machine learning throughout Workday’s suite of applications.” The terms of the deal weren’t disclosed.
Identified launched in 2011 promising a wiser job search engine. It later added analytics-driven recruiting software. The company’s technology combs social media profiles to locate best prospects and notice job-market trends. Its predictive capabilities is often applied to financial trend analysis in addition to HR management.
Engage with Oracle president Mark Hurd, NFL CIO Michelle McKenna-Doyle, General Motors CIO Randy Mott, Box founder Aaron Levie, UPMC CIO Dan Drawbaugh, GE Power CIO Jim Fowler, and other leaders of the Digital Business movement on the InformationWeek Conference and Elite 100 Awards Ceremony, to be held together with Interop in Las Vegas, March 31 to April 1, 2014. See the total agenda here.
Doug Henschen is Executive Editor of InformationWeek, where he covers the intersection of enterprise applications with information management, business intelligence, big data and analytics. He previously served as editor in chief of Intelligent Enterprise, editor in chief of … View Full Bio
More Insights