Oct 23, 4:34 PM ET
Workday completed the sale of $2.5 billion of senior unsecured notes on October 23, 2026, under an underwritten offering agreed on October 21, 2026. The company estimates net proceeds of about $2.47 billion and plans to use $1.0 billion of them to retire its 3.500% notes due April 1, 2027, with any remainder for general corporate purposes. The new notes add $2.5 billion of debt with fixed interest rates from 5.700% to 6.500%, maturing between 2029 and 2036.
- Four series totaling $2.5 billion: $750.0 million 5.700% due 2029, $500.0 million 6.000% due 2031, $750.0 million 6.300% due 2033, and $500.0 million 6.500% due 2036.
- Estimated net proceeds of approximately $2.47 billion, after underwriting discount and offering expenses.
- Use of proceeds includes retiring the $1.0 billion 3.500% notes due April 1, 2027; interest is payable semi-annually on April 23 and October 23, starting April 23, 2027.
Read the filing on SEC.gov ↗
Oct 1, 5:22 PM ET
Workday entered a new Credit Agreement on October 1, 2026, replacing its prior $1.0 billion revolving credit facility. The new facility provides up to $1.5 billion in revolving credit, and Workday had no revolving loans outstanding as of that date. The filing describes the facility's pricing, covenants, and maturity, which give Workday a larger committed borrowing source.
- New revolving credit facility totals $1.5 billion, up from $1.0 billion under the prior agreement dated April 6, 2022
- No revolving loans were outstanding as of October 1, 2026
- Facility matures October 1, 2031, with up to two requests to extend by one year
- Financial covenant requires a maximum leverage ratio of 3.50 to 1.00, with a step-up to 4.50 to 1.00 after a Qualified Acquisition
Read the filing on SEC.gov ↗
Sep 29, 4:01 PM ET
Workday reiterated its fiscal 2027 third-quarter and full-year guidance from August 27, 2026, except for GAAP operating margin, which it now expects to be roughly 20 to 21 percentage points below non-GAAP margin in the third quarter and about 19 points below for the full year. The company is reducing about 2.5% of its workforce, mainly in Product and Technology, and reducing leased office space, with charges of $65 million to $80 million that shareholders will see in GAAP results.
- Reorganizations announced September 29, 2026 include a reduction of about 2.5% of current workforce, mainly in Product and Technology.
- Charges of $65 million to $80 million: about $55 million to $70 million in fiscal Q3 and $10 million in fiscal Q4 2027.
- Charges include $40 million to $55 million in cash severance and benefit costs, about $10 million in stock-based compensation, and about $15 million in office space impairment.
- Employee actions are expected to be substantially complete by Q1 fiscal 2028; office actions by Q4 fiscal 2027.
Read the filing on SEC.gov ↗
Aug 27, 4:01 PM ET
Workday reported fiscal 2027 second-quarter total revenues of $2.649 billion, up 12.8% year over year, and non-GAAP diluted earnings per share of $2.75, up from $2.21. The company raised its fiscal 2027 non-GAAP operating margin guidance to 31.0% and authorized an open-ended repurchase of up to $4.0 billion of Class A common stock.
- Total revenues of $2.649 billion, up 12.8%; subscription revenues of $2.471 billion, up 13.9%
- GAAP diluted net income per share of $2.57 includes a $1.52 per share tax benefit tied to an intellectual property transfer; non-GAAP figure was $2.75
- Fiscal 2027 subscription revenue guidance of $9.940 billion to $9.950 billion; non-GAAP operating margin guidance raised to 31.0%
- Operating cash flow was $520 million versus $616 million a year earlier; free cash flow was $460 million versus $588 million
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.