FQ4 results beat estimates on the back of an 86% Y/Y increase in subscription revenue (78% of total revenue) to $110.7M; subscription growth accelerated from FQ3's 82% clip. Professional services revenue +42% to $32.2M after growing 61% in FQ3.
Workday's unearned revenue balance rose 18% Q/Q and 45% Y/Y to $413.6M.
Total costs/expenses +69% Y/Y to $189.8M, with major increases in sales/marketing and R&D spend. Op. cash flow was $46.3M, and free cash flow -$29.6M.
FQ4 results, PR