Workday (NYSE: WDAY) held its first quarter earnings conference on Wednesday; shares of the company jumped 2.33 percent, or $1.91, to $84.04.
Below are some key takeaways from the call:
HP went live on Human Capital Management for 300,000 employees in more than 100 countries. Philips also went live with more than 100,000 employees in over 70 countries. HP is now the company's largest customer in production globally and Philips is the largest live customer based in Europe.
The company is also experiencing positive momentum with Workday Financial Management.
With increasing demand for Workday globally, the company appointed a new Head of Workday Asia Pacific, Japan, Ian Miller.
Mark Peek: Operationally, we executed very well. The company has nearly $1.9 billion of cash and marketable securities The company had approximately 2,900 employees at the end of our first quarter and continue to anticipate adding more people in fiscal 2015 than we did in fiscal 2014.
Total unearned revenue at quarter end was $462 million, up 12 percent sequentially and 54 percent from a year ago. Over 90 percent of unearned revenue is from subscription fees. Total revenues for the second quarter are expected to be within a range of $173 million to $178 million or growth of 61 percent to 65 percent as compared to the prior year.
Subscription revenue is anticipated to be within a range of $137 million to $140 million, reflecting year-over-year growth of 69 percent to 73 percent. For the year, we anticipate total revenue of approximately $730 million to $750 million or growth of approximately 56 percent to 60 percent.
Subscription revenue is anticipated to be within a range of $575 million and $590 million, reflecting year-over-year growth of 62 percent to 67 percent. Product development expense in the first quarter was $53.6 million, up 18% sequentially and up 57% from a year ago. Sales and marketing expense was $61.1 million, up 10 percent sequentially and up 64 percent from last year.
General and administrative expense was $13.5 million, down slightly from Q4 and up 47 percent year-over-year. The net loss per share was $0.13 on 183 million weighted average shares. The share count includes 6.9 million weighted average shares from our January follow-on offering.
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