Workday Inc (NASDAQ:WDAY) Q3 2020 Earnings Conference Call - Final Transcript

Dec 03, 2019 • 04:30 pm ET


Workday Inc (NASDAQ:WDAY) Q3 2020 Earnings Conference Call - Final Transcript


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Welcome to Workday's Third Quarter Fiscal Year 2020 Earnings Call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of the call. [Operator Instructions]

And with that, I will hand it over to Justin Furby, Senior Director of Investor Relations. Please go ahead, sir.

Justin Furby

Welcome to Workday's third quarter fiscal '20 earnings conference call. On the call, we have Aneel Bhusri, our CEO; Robynne Sisco our Co-President and CFO; Chano Fernandez, our Co-President; and Tom Bogan, our Executive Vice President of the Business Planning Unit.

Following Aneel and Robynne's prepared remarks, we will take questions. Our press release was issued after close of market and is posted on our website where this call is being simultaneously webcast. Statements made on this call include forward-looking statements regarding our financial results, applications, customer demand, operations and other matters. These statements are subject to risks, uncertainties and assumptions. Please refer to the press release and the risk factors and documents we file with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-Q for information on risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such statements.

In addition, during today's call, we will discuss non-GAAP financial measures, which we believe are useful as supplemental measures of Workday's performance. These non-GAAP measures should be considered in addition to and not as a substitute for or an isolation from GAAP results. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP results in our earnings press release and on the Investor Relations page of our website. The webcast replay of this call will be available for the next 90 days on our Company website under the Investor Relations link. Also, the customer's page of our website includes a list of selected customers and is updated monthly.

Our third quarter [Phonetic] quiet period begins on January 15, 2020. Unless otherwise stated, all financial comparisons in this call will be to our results for the comparable period of our fiscal 2019. With that, let me hand it over to Aneel.

Aneel Bhusri

Thank you, Justin. Good afternoon, everyone, and thank you for joining our third quarter earnings call.

As we highlighted at our Rising user conference in October, we are firmly established as a leader in cloud HCM applications, and increasingly strengthening our leadership position in the broader cloud financial management market. We're very proud of the company we've built with now over 3,000 customers globally, over 70% of which are live and in production. These customers have deployed Workday to help transform both the way they engage their employees and operate their business. We're excited by these success stories, as well as the thousands of other companies, we have the opportunity to help along their transformation journeys.

With that, let's quickly review our third quarter results. Starting with HCM, we continue to gain market share with an industry-leading true cloud platform, which