Workday, Inc
(NASDAQ:WDAY)

Workday, Inc. provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human resources. The company offers a suite of financial management applications, which enable chief financial officers to mainta...

Website: http://www.workday.com

Founded: 2005

Full Time Employees: 18,800 (Oct 2023)

CEO / Co-Founder: Aneel Bhusri

Sector: Technology

Industry: Software-Application

Information Technology SaaS

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At a glance:

Subscription Revenue Continues to Drive Growth: Workday’s core business is anchored in recurring subscription revenue from its cloud applications, which typically provides a more predictable and durable growth profile than services revenue.
Operating Margin Expansion Remains a Key Focus: Investors closely watch Workday’s progress on improving operating efficiency, including disciplined hiring and spending, as the company aims to expand margins while continuing to invest in product innovation.
Enterprise Demand Tied to HR and Finance Modernization Cycles: Workday’s performance is influenced by large enterprises upgrading HR and finance systems; deal timing and duration can be affected by budgeting cycles, macro uncertainty, and procurement scrutiny.
AI and Platform Enhancements as a Differentiation Lever: Workday is positioning AI-driven features and platform capabilities to increase product value, support upsell/cross-sell, and improve customer outcomes, which may influence retention and long-term growth.
Competitive Landscape Remains Intense in HCM and ERP: Workday competes with large enterprise software vendors and best-of-breed providers; win rates and net retention can be impacted by pricing pressure, consolidation decisions, and feature parity over time.

Bull Thesis:

Dominant Market Position in HCM and Expanding Financials Footprint: Workday holds a leading position in the Human Capital Management (HCM) software market for large enterprises, known for its unified cloud platform. Its strategic expansion into Financial Management, Planning, and Spend Management solutions is gaining traction, significantly expanding its total addressable market (TAM) and creating cross-selling opportunities within its existing customer base. This integrated approach offers a compelling value proposition for enterprises seeking a single source of truth for their people and money data.
Strong Recurring Revenue and High Customer Retention: As a pure-play SaaS provider, Workday benefits from a highly predictable recurring revenue model. Its mission-critical applications for HR and finance lead to high customer stickiness and low churn rates among its large enterprise clients. The continuous innovation and regular updates to its platform further enhance customer satisfaction and retention, ensuring a stable and growing revenue base.
Strategic AI/ML Integration and Innovation: Workday is actively embedding artificial intelligence and machine learning capabilities across its platform to enhance user experience, automate routine tasks, provide deeper insights, and improve decision-making. This focus on AI-driven innovation helps Workday maintain its competitive edge, deliver greater value to customers, and drive future product differentiation and growth.
Global Expansion and Large Enterprise Focus: Workday's strategy of targeting large, complex global enterprises provides significant contract values and a stable customer base. The company continues to expand its international presence, tapping into new markets and increasing its global reach. This focus on high-value customers and global expansion underpins its long-term growth potential.

Bear Thesis:

Intense Competition and Potential Pricing Pressure: Workday operates in a highly competitive landscape, facing formidable rivals such as SAP, Oracle, Microsoft (Dynamics 365), and specialized players in both HCM and Financials. This intense competition could lead to pricing pressure, longer sales cycles, and increased customer acquisition costs, potentially impacting Workday's revenue growth rates and profit margins.
Macroeconomic Headwinds and Enterprise Spending Slowdown: Economic uncertainties, inflation, and rising interest rates could lead to a slowdown in enterprise software spending. Large organizations might delay or reduce investments in new HR and financial systems, impacting Workday's ability to secure new deals and expand existing ones. This could result in decelerated revenue growth compared to historical rates.
Valuation Concerns and Path to Consistent GAAP Profitability: Workday often trades at a premium valuation based on its growth prospects. However, despite strong revenue growth, the company has historically struggled to achieve consistent GAAP profitability due to significant investments in research and development, sales and marketing, and global expansion. If growth rates decelerate or the path to sustainable GAAP profitability remains elusive, the stock's premium valuation could come under pressure.
Complexity of Implementations and Customer Acquisition Costs: Implementing large-scale enterprise HR and financial systems can be complex, time-consuming, and expensive for customers. While Workday generally has high retention, the initial sales cycle and implementation process can be lengthy and resource-intensive, leading to high customer acquisition costs. Any perceived difficulties in implementation or integration could deter potential customers or lead to dissatisfaction.

Main Competitors:

SAP SE ($SAP) (SAP SuccessFactors, SAP S/4HANA), SAP is a global leader in enterprise application software, competing with Workday across both Human Capital Management (HCM) with its SuccessFactors suite and Financial Management with its S/4HANA ERP platform. SAP leverages its extensive installed base and broad portfolio to offer integrated solutions, often appealing to large enterprises seeking a comprehensive, single-vendor approach.
Oracle Corporation ($ORCL) (Oracle Cloud HCM, Oracle Cloud ERP), Oracle is a major competitor, offering a comprehensive suite of cloud-based enterprise applications, including Oracle Cloud HCM and Oracle Cloud ERP. They compete directly with Workday for large enterprise customers seeking integrated solutions for human resources, payroll, financial management, and planning, often leveraging their database and infrastructure cloud services.
UKG (Ultimate Kronos Group) (UKG Pro, UKG Ready), UKG is a leading provider of cloud-based human capital management (HCM) and workforce management solutions. They compete with Workday primarily in the HCM space, offering robust solutions for payroll, HR, talent management, and time & attendance, particularly strong in industries with complex scheduling and labor management needs.
Automatic Data Processing, Inc. (ADP) ($ADP) (ADP Workforce Now, ADP Vantage HCM), ADP is a global provider of cloud-based HCM solutions, including payroll, HR, talent, time, tax, and benefits administration. While historically strong in the SMB and mid-market, ADP also competes with Workday in the enterprise segment, particularly for payroll and comprehensive HR services, often emphasizing its managed services capabilities and compliance expertise.

Moat:

Workday's primary competitive advantage (moat) lies in its unified, cloud-native platform for Human Capital Management (HCM), Financial Management, and Planning. This single architecture provides real-time data, a consistent user experience, and reduces the integration complexities common with legacy systems. Its strong focus on customer satisfaction, intuitive user interface, and continuous innovation, particularly in AI/ML for enterprise planning, also contribute to its moat. However, Workday operates in a highly competitive market. It faces significant competition from established enterprise software giants like SAP and Oracle, who leverage their vast installed bases and are aggressively transitioning their comprehensive suites to the cloud. Additionally, specialized HCM providers such as UKG and ADP offer deep functionality in specific areas like payroll and workforce management, often appealing to organizations with particular needs or those seeking managed services. Workday's ongoing challenge is to maintain its innovation edge and customer loyalty while expanding its platform's breadth and depth against these formidable competitors.

Income Statements:

Quarterly

Annual

Unit: USD	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31	2024-04-30	2024-01-31	2023-10-31	2023-07-31	2023-04-30	2023-01-31	2022-10-31	2022-07-31	2022-04-30	2022-01-31	2021-10-31	2021-07-31	2021-04-30	2021-01-31	2020-10-31	2020-07-31	2020-04-30	2020-01-31	2019-10-31	2019-07-31	2019-04-30	2019-01-31	2018-10-31	2018-07-31	2018-04-30	2018-01-31	2017-10-31	2017-07-31	2017-04-30	2017-01-31	2016-10-31	2016-07-31	2016-04-30	2016-01-31	2015-10-31	2015-07-31	2015-04-30	2015-01-31	2014-10-31	2014-07-31	2014-04-30	2014-01-31	2013-10-31	2013-07-31	2013-04-30	2013-01-31	2012-10-31

revenues:
subscription services	2,244,000,000	2,169,000,000	2,059,000,000	2,040,000,000	1,959,000,000	1,903,000,000	1,815,000,000	1,760,036,000	1,691,116,000	1,623,939,000	1,527,909,000	1,495,402,000	1,432,393,000	1,367,335,000	1,272,076,000	1,229,173,000	1,171,517,000	1,113,454,000	1,032,169,000	1,006,251,000	968,547,000	931,698,000	881,956,000	839,694,000	798,516,000	757,155,000	701,024,000	673,545,000	624,416,000	565,659,000	522,149,000	490,002,000	463,568,000	434,527,000	399,736,000	365,151,000	335,722,000	306,228,000	280,003,000	261,799,000	242,700,000	223,742,000	200,993,000	181,866,000	164,403,000	143,652,000	123,407,000
professional services	188,000,000	179,000,000	181,000,000	171,000,000	201,000,000	182,000,000	175,000,000	162,211,000	174,559,000	162,827,000	156,403,000	150,858,000	166,710,000	168,463,000	162,581,000	146,968,000	155,746,000	146,907,000	142,864,000	125,433,000	137,413,000	130,269,000	136,429,000	136,605,000	139,584,000	130,597,000	124,031,000	115,083,000	118,773,000	106,061,000	96,494,000	92,478,000	91,821,000	90,793,000	80,125,000	71,521,000	73,860,000	71,495,000	65,427,000	61,628,000	62,566,000	58,954,000	49,964,000	44,407,000	50,667,000	43,128,000	36,330,000
total revenues	2,432,000,000	2,348,000,000	2,240,000,000	2,211,000,000	2,160,000,000	2,085,000,000	1,990,000,000	1,922,247,000	1,865,675,000	1,786,766,000	1,684,312,000	1,646,260,000	1,599,103,000	1,535,798,000	1,434,657,000	1,376,141,000	1,327,263,000	1,260,361,000	1,175,033,000	1,131,684,000	1,105,960,000	1,061,967,000	1,018,385,000	976,299,000	938,100,000	887,752,000	825,055,000	788,628,000	743,189,000	671,720,000	618,643,000	582,480,000	555,389,000	525,320,000	479,861,000	436,672,000	409,582,000	377,723,000	345,430,000	323,427,000	305,266,000	282,696,000	250,957,000	226,273,000	215,070,000	186,780,000	159,737,000	141,866,000	127,872,000	107,555,000	91,645,000	81,519,000	72,618,000
yoy	12.59%	12.61%	12.56%	15.02%	15.78%	16.69%	18.15%	16.76%	16.67%	16.34%	17.40%	19.63%	20.48%	21.85%	22.10%	21.60%	20.01%	18.68%	15.38%	15.92%	17.89%	19.62%	23.43%	23.80%	26.23%	32.16%	33.37%	35.39%	33.81%	27.87%	28.92%	33.39%	35.60%	39.08%	38.92%	35.01%	34.17%	33.61%	37.65%	42.94%	41.94%	51.35%	57.11%	59.50%	68.19%	73.66%	74.30%	74.03%	76.09%
qoq	3.58%	4.82%	1.31%	2.36%	3.60%	4.77%	3.52%	3.03%	4.42%	6.08%	2.31%	2.95%	4.12%	7.05%	4.25%	3.68%	5.31%	7.26%	3.83%	2.33%	4.14%	4.28%	4.31%	4.07%	5.67%	7.60%	4.62%	6.11%	10.64%	8.58%	6.21%	4.88%	5.72%	9.47%	9.89%	6.61%	8.43%	9.35%	6.80%	5.95%	7.98%	12.65%	10.91%	5.21%	15.15%	16.93%	12.60%	10.94%	18.89%	17.36%	12.42%	12.26%
costs and expenses :
costs of subscription services	395,000,000	370,000,000	350,000,000	342,000,000	329,000,000	304,000,000	290,000,000	272,449,000	263,840,000	255,684,000	239,027,000	274,146,000	259,397,000	244,982,000	232,922,000	220,208,000	200,700,000	192,738,000	182,208,000	169,246,000	152,396,000	145,007,000	145,263,000	132,578,000	122,305,000	121,161,000	112,469,000	108,799,000	103,310,000	87,523,000	80,245,000	75,834,000	71,898,000	65,931,000	59,798,000	58,165,000	54,645,000	51,379,000	49,200,000	43,009,000	39,791,000	35,287,000	31,782,000	29,218,000	27,426,000	24,373,000	21,459,000
costs of professional services	196,000,000	212,000,000	187,000,000	197,000,000	201,000,000	207,000,000	199,000,000	187,767,000	181,400,000	192,416,000	178,417,000	179,333,000	176,396,000	178,103,000	169,899,000	169,589,000	159,024,000	152,783,000	150,845,000	143,798,000	142,785,000	139,270,000	160,367,000	152,197,000	148,625,000	145,173,000	130,750,000	124,949,000	119,691,000	112,707,000	97,726,000	95,118,000	91,657,000	92,264,000	76,913,000	72,016,000	72,240,000	66,473,000	59,427,000	59,671,000	61,963,000	56,792,000	46,132,000	40,737,000	44,363,000	41,267,000	35,960,000
product development	666,000,000	660,000,000	663,000,000	674,000,000	647,000,000	649,000,000	656,000,000	635,130,000	618,736,000	609,677,000	600,457,000	615,589,000	565,727,000	547,835,000	541,509,000	537,738,000	455,615,000	444,251,000	441,616,000	439,095,000	419,962,000	418,681,000	443,484,000	422,211,000	401,742,000	378,122,000	347,831,000	337,405,000	318,003,000	292,840,000	263,584,000	253,454,000	239,588,000	221,103,000	196,439,000	191,556,000	185,311,000	161,886,000	141,778,000	131,244,000	124,020,000	115,345,000	99,335,000	88,963,000	85,270,000	77,464,000	65,171,000
sales and marketing	677,000,000	641,000,000	623,000,000	628,000,000	620,000,000	611,000,000	573,000,000	558,361,000	537,816,000	524,186,000	518,637,000	489,895,000	470,196,000	458,701,000	429,301,000	410,947,000	366,323,000	358,157,000	326,494,000	335,249,000	302,870,000	276,497,000	318,557,000	306,618,000	286,794,000	280,200,000	272,936,000	249,954,000	246,156,000	202,464,000	192,771,000	179,585,000	176,121,000	171,952,000	155,709,000	167,657,000	149,549,000	139,177,000	127,491,000	121,073,000	111,658,000	106,430,000	94,895,000	88,469,000	80,681,000	78,523,000	68,167,000	60,808,000	54,051,000	44,150,000	38,364,000	36,389,000	32,584,000
general and administrative	234,000,000	216,000,000	212,000,000	211,000,000	198,000,000	203,000,000	208,000,000	189,852,000	176,028,000	168,546,000	167,574,000	176,255,000	153,708,000	140,255,000	133,869,000	138,621,000	121,656,000	113,552,000	112,183,000	117,607,000	102,024,000	99,266,000	95,171,000	108,792,000	88,884,000	85,593,000	84,455,000	87,804,000	138,784,000	65,168,000	55,581,000	59,824,000	56,184,000	55,699,000	51,202,000	53,513,000	57,721,000	45,705,000	41,183,000	41,871,000	38,008,000	36,482,000	32,217,000	29,270,000	28,796,000	26,922,000	21,063,000	22,951,000	16,280,000	13,766,000	12,924,000	12,570,000	22,633,000
restructuring	5,000,000	1,000,000	166,000,000
total costs and expenses	2,173,000,000	2,100,000,000	2,201,000,000	2,136,000,000	1,995,000,000	1,974,000,000	1,926,000,000	1,843,559,000	1,777,820,000	1,750,509,000	1,704,112,000	1,735,218,000	1,625,424,000	1,569,876,000	1,507,500,000	1,477,103,000	1,303,318,000	1,261,481,000	1,213,346,000	1,204,995,000	1,120,037,000	1,078,721,000	1,162,842,000	1,122,396,000	1,048,350,000	1,010,249,000	948,441,000	908,911,000	925,944,000	760,702,000	689,907,000	663,815,000	635,448,000	606,949,000	540,061,000	542,907,000	519,466,000	464,620,000	419,079,000	396,868,000	375,440,000	350,336,000	304,361,000	276,657,000	266,536,000	248,549,000	211,820,000	189,842,000	168,271,000	139,838,000	124,269,000	112,197,000	113,486,000
operating income	259,000,000	248,000,000	39,000,000	75,000,000	165,000,000	111,000,000	64,000,000	78,688,000	87,855,000	36,257,000	-19,800,000	-88,958,000	-26,321,000	-34,078,000	-72,843,000	-100,962,000	23,945,000	-1,120,000	-38,313,000	-73,311,000	-14,077,000	-16,754,000	-144,457,000	-146,097,000	-110,250,000	-122,497,000	-123,386,000	-120,283,000	-182,755,000	-88,982,000	-71,264,000	-81,335,000	-80,059,000	-81,629,000	-60,200,000	-106,235,000	-109,884,000	-86,897,000	-73,649,000	-73,441,000	-70,174,000	-67,640,000	-53,404,000	-50,384,000	-51,466,000	-61,769,000	-52,083,000	-47,976,000	-40,399,000	-32,283,000	-32,624,000	-30,678,000	-40,868,000
yoy	56.97%	123.42%	-39.06%	-4.69%	87.81%	206.15%	-423.23%	-188.46%	-433.78%	-206.39%	-72.82%	-11.89%	-209.92%	2942.68%	90.13%	37.72%	-270.10%	-93.32%	-73.48%	-49.82%	-87.23%	-86.32%	17.08%	21.46%	-39.67%	37.66%	73.14%	47.89%	128.28%	9.01%	18.38%	-23.44%	-27.14%	-6.06%	-18.26%	44.65%	56.59%	28.47%	37.91%	45.76%	36.35%	9.50%	2.54%	5.02%	27.39%	91.34%	59.65%	56.39%	-1.15%
qoq	4.44%	535.90%	-48.00%	-54.55%	48.65%	73.44%	-18.67%	-10.43%	142.31%	-283.12%	-77.74%	237.97%	-22.76%	-53.22%	-27.85%	-521.64%	-2237.95%	-97.08%	-47.74%	420.79%	-15.98%	-88.40%	-1.12%	32.51%	-10.00%	-0.72%	2.58%	-34.18%	105.38%	24.86%	-12.38%	1.59%	-1.92%	35.60%	-43.33%	-3.32%	26.45%	17.99%	0.28%	4.66%	3.75%	26.66%	5.99%	-2.10%	-16.68%	18.60%	8.56%	18.76%	25.14%	-1.05%	6.34%	-24.93%
operating margin %	10.65%	10.56%	1.74%	3.39%	7.64%	5.32%	3.22%	4.09%	4.71%	2.03%	-1.18%	-5.40%	-1.65%	-2.22%	-5.08%	-7.34%	1.80%	-0.09%	-3.26%	-6.48%	-1.27%	-1.58%	-14.18%	-14.96%	-11.75%	-13.80%	-14.95%	-15.25%	-24.59%	-13.25%	-11.52%	-13.96%	-14.41%	-15.54%	-12.55%	-24.33%	-26.83%	-23.01%	-21.32%	-22.71%	-22.99%	-23.93%	-21.28%	-22.27%	-23.93%	-33.07%	-32.61%	-33.82%	-31.59%	-30.02%	-35.60%	-37.63%	-56.28%
other income	79,000,000	56,000,000	64,000,000	45,000,000	62,000,000	57,000,000	59,000,000	59,348,000	41,388,000	45,555,000	26,709,000	11,039,000	4,163,000	-32,789,000	-20,163,000	17,141,000	21,557,000	102,985,000	-9,051,000	4,737,000	-8,846,000	-11,453,000	-10,973,000	16,884,000	-4,136,000	-106,000	7,141,000	15,150,000	26,617,000	1,613,000	-3,848,000	-7,096,000	-3,742,000	938,000
income before provision for income taxes	338,000,000	304,000,000	103,000,000	120,000,000	227,000,000	168,000,000	123,000,000	138,036,000	129,243,000	81,812,000	6,909,000	-77,919,000	-22,158,000	-66,867,000	-93,006,000	-83,821,000	45,502,000	101,865,000	-47,364,000	-68,574,000	-22,923,000	-28,207,000	-155,430,000	-129,213,000	-114,386,000	-122,603,000	-116,245,000	-105,133,000	-156,138,000	-87,369,000	-75,112,000	-88,431,000	-83,801,000	-80,691,000	-61,863,000	-108,526,000	-112,989,000	-108,090,000	-79,487,000	-79,946,000	-76,896,000	-71,419,000	-60,640,000	-58,655,000	-59,513,000	-68,722,000	-59,082,000	-54,897,000	-47,292,000	-35,762,000	-32,880,000	-30,845,000	-41,232,000
provision for income taxes	86,000,000	76,000,000	35,000,000	26,000,000	34,000,000	36,000,000	16,000,000	-1,050,459,000	15,534,000	3,152,000	6,773,000	47,778,000	52,563,000	-2,709,000	9,167,000	-10,568,000	2,090,000	-3,871,000	-842,000	3,133,000	1,417,000	-191,000	2,938,000	-1,255,000	1,343,000	-1,891,000	30,000	-772,000	-2,807,000	-1,213,000	-702,000	669,000	1,745,000	1,841,000	2,181,000	-2,961,000	1,077,000	-65,000	1,135,000	1,182,000	915,000	-1,998,000	918,000	811,000	399,000	493,000	307,000	1,085,000	242,000	216,000	135,000	99,000	78,000
net income	252,000,000	228,000,000	68,000,000	94,000,000	193,000,000	132,000,000	107,000,000	1,188,495,000	113,709,000	78,660,000	136,000	-125,697,000	-74,721,000	-64,158,000	-102,173,000	-73,253,000	43,412,000	105,736,000	-46,522,000	-71,707,000	-24,340,000	-28,016,000	-158,368,000	-127,958,000	-115,729,000	-120,712,000	-116,275,000	-104,361,000	-153,331,000	-86,156,000	-74,410,000	-89,100,000	-85,546,000	-82,532,000	-64,044,000	-105,565,000	-114,066,000	-108,025,000	-80,622,000	-81,128,000	-77,811,000	-69,421,000	-61,558,000	-59,466,000	-59,912,000	-69,215,000	-59,389,000	-55,982,000	-47,534,000	-35,978,000	-33,015,000	-30,944,000	-41,310,000
yoy	30.57%	72.73%	-36.45%	-92.09%	69.73%	67.81%	78576.47%	-1045.52%	-252.18%	-222.60%	-100.13%	71.59%	-272.12%	-160.68%	119.62%	2.16%	-278.36%	-477.41%	-70.62%	-43.96%	-78.97%	-76.79%	36.20%	22.61%	-24.52%	40.11%	56.26%	17.13%	79.24%	4.39%	16.19%	-15.60%	-25.00%	-23.60%	-20.56%	30.12%	46.59%	55.61%	30.97%	36.43%	29.88%	0.30%	3.65%	6.22%	26.04%	92.38%	79.88%	80.91%	15.07%
qoq	10.53%	235.29%	-27.66%	-51.30%	46.21%	23.36%	-91.00%	945.21%	44.56%	57738.24%	-100.11%	68.22%	16.46%	-37.21%	39.48%	-268.74%	-58.94%	-327.28%	-35.12%	194.61%	-13.12%	-82.31%	23.77%	10.57%	-4.13%	3.82%	11.42%	-31.94%	77.97%	15.79%	-16.49%	4.15%	3.65%	28.87%	-39.33%	-7.45%	5.59%	33.99%	-0.62%	4.26%	12.09%	12.77%	3.52%	-0.74%	-13.44%	16.55%	6.09%	17.77%	32.12%	8.97%	6.69%	-25.09%
net income margin %	10.36%	9.71%	3.04%	4.25%	8.94%	6.33%	5.38%	61.83%	6.09%	4.40%	0.01%	-7.64%	-4.67%	-4.18%	-7.12%	-5.32%	3.27%	8.39%	-3.96%	-6.34%	-2.20%	-2.64%	-15.55%	-13.11%	-12.34%	-13.60%	-14.09%	-13.23%	-20.63%	-12.83%	-12.03%	-15.30%	-15.40%	-15.71%	-13.35%	-24.17%	-27.85%	-28.60%	-23.34%	-25.08%	-25.49%	-24.56%	-24.53%	-26.28%	-27.86%	-37.06%	-37.18%	-39.46%	-37.17%	-33.45%	-36.02%	-37.96%	-56.89%
net income per share	0.95	0.86	0.25	0.35	0.73	0.5	0.4	4.54	0.43	0.3		-0.49	-0.29	-0.25	-0.41	-0.3	0.17	0.43	-0.19	-0.3	-0.1	-0.12	-0.68	-0.56	-0.51	-0.53	-0.52	-0.47	-0.7	-0.4	-0.35	-0.43	-0.41	-0.4	-0.31	-0.52	-0.57	-0.55	-0.41	-0.43	-0.41	-0.37	-0.33	-0.32	-0.33	-0.38	-0.32	-0.33	-0.27	-0.21	-0.2	0.44	-0.67
weighted-average shares used for eps calculation	265,870	266,777	266,516	265,257	265,411	265,317	264,444	261,344	262,153	261,191	258,820	254,819	255,753	254,355	251,743	247,249	248,468	246,943	243,739	237,019	238,059	236,002	232,939	227,185	228,461	226,392	223,309	216,789	217,694	215,932	213,055	207,774	209,188	207,028	203,818	198,214	199,479	197,223	194,529	190,016	190,727	189,360	187,390	183,702	184,310	184,319	183,084	171,297	174,385	173,375	168,074	74,011	61,960
costs and expenses:
other expense																																			-1,663,000	-2,291,000	-3,105,000	-21,193,000	-5,838,000	-6,505,000	-6,722,000	-3,779,000	-7,236,000	-8,271,000	-8,047,000	-6,953,000	-6,999,000	-6,921,000	-6,893,000	-3,479,000	-256,000	-167,000	-364,000
costs and expenses include share-based compensation as follows:
costs of revenues																																																31,511,000	48,591,000	40,754,000	36,699,000	32,986,000	30,194,000
research and development																																																31,699,750	49,349,000	41,168,000	36,282,000	30,252,000	28,075,000
accretion of redeemable convertible preferred stock																																																					-161,000
net loss attributable to common stockholders																																																-29,131,750	-47,534,000	-35,978,000	-33,015,000
net loss attributable to class a and class b common stockholders																																																				-30,944,000	-41,471,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31	2024-04-30	2024-01-31	2023-10-31	2023-07-31	2023-04-30	2023-01-31	2022-10-31	2022-07-31	2022-04-30	2022-01-31	2021-10-31	2021-07-31	2021-04-30	2021-01-31	2020-10-31	2020-07-31	2020-04-30	2020-01-31	2019-10-31	2019-07-31	2019-04-30	2019-01-31	2018-10-31	2018-07-31	2018-04-30	2018-01-31	2017-10-31	2017-07-31	2017-04-30	2017-01-31	2016-10-31	2016-07-31	2016-04-30	2016-01-31	2015-10-31	2015-07-31	2015-04-30	2015-01-31	2014-10-31	2014-07-31	2014-04-30	2014-01-31	2013-10-31	2013-07-31	2013-04-30	2013-01-31	2012-10-31

assets
current assets:
cash and cash equivalents	2,609,000,000	1,264,000,000	972,000,000	1,543,000,000	1,311,000,000	1,635,000,000	1,752,000,000	2,012,000,000	1,563,939,000	1,435,690,000	1,443,651,000	1,886,311,000	1,575,955,000	2,486,540,000	2,776,336,000	1,534,273,000	1,297,259,000	1,087,070,000	959,358,000	1,384,181,000	1,067,038,000	1,239,696,000	1,214,213,000	731,141,000	912,748,000	619,514,000	781,772,000	638,554,000	540,430,000	1,693,743,000	1,036,045,000	1,134,355,000	1,336,984,000	748,599,000	498,931,000	539,923,000	386,557,000	405,529,000	404,604,000	300,087,000	219,893,000	230,578,000	270,484,000	298,192,000	192,142,000	262,634,000	246,001,000	581,326,000	183,460,000	437,432,000	219,264,000	84,158,000	442,980,000
marketable securities	4,234,000,000	6,922,000,000	6,998,000,000	6,474,000,000	5,846,000,000	5,738,000,000	5,430,000,000	5,801,000,000	5,316,045,000	5,221,401,000	4,885,310,000	4,235,083,000	3,916,130,000	3,806,427,000	3,479,019,000	2,109,888,000	2,257,722,000	2,220,888,000	2,035,171,000	2,151,472,000	1,880,772,000	1,513,842,000	1,384,793,000	1,213,432,000	1,191,848,000	1,307,006,000	1,110,141,000	1,139,864,000	1,041,709,000	1,291,352,000	2,329,623,000	2,133,495,000	1,874,139,000	1,349,191,000	1,616,770,000	1,456,822,000	1,527,238,000	1,662,381,000	1,675,486,000	1,669,372,000	1,676,454,000	1,676,351,000	1,651,051,000	1,559,517,000	1,642,517,000	1,559,748,000	1,619,950,000	1,305,253,000	1,099,235,000	857,169,000	586,503,000	706,181,000	354,397,000
trade and other receivables	1,750,000,000	1,609,000,000	1,363,000,000		1,404,000,000	1,292,000,000	1,133,000,000	1,639,000,000	1,224,818,000	1,270,936,000	1,089,286,000	1,570,086,000	1,040,468,000	1,105,288,000	778,076,000	1,242,545,000	865,040,000	872,764,000	647,163,000		742,744,000	694,289,000	584,219,000		615,508,000	613,425,000	542,843,000		486,044,000	457,496,000	354,209,000		349,309,000	370,557,000	297,894,000
deferred costs	286,000,000	278,000,000	268,000,000	267,000,000	244,000,000	237,000,000	232,000,000	232,000,000	207,566,000	198,677,000	191,966,000	191,054,000	171,100,000	165,012,000	156,806,000	152,957,000	135,829,000	130,105,000	123,828,000	122,764,000	110,024,000	105,350,000	100,501,000	100,459,000	89,854,000	85,557,000	82,316,000	80,809,000	70,608,000	66,274,000	63,567,000	63,060,000	56,304,000	54,015,000	51,819,000	27,537,000	23,067,000	22,664,000	21,534,000	21,817,000	19,499,000	18,905,000	20,364,000	20,471,000	19,024,000	20,064,000	16,710,000	16,446,000	14,352,000	11,385,000	10,053,000	9,816,000	8,636,000
prepaid expenses and other current assets	296,000,000	334,000,000	362,000,000	311,000,000	273,000,000	298,000,000	327,000,000	255,000,000	261,795,000	254,990,000	262,880,000	225,690,000	266,622,000	241,390,000	252,989,000	174,402,000	137,858,000	150,287,000	140,277,000	111,160,000	157,664,000	161,004,000	166,641,000	172,012,000	145,462,000	163,530,000	148,062,000	136,689,000	132,488,000	105,173,000	97,365,000	97,860,000	77,036,000	63,862,000	68,406,000	88,336,000	88,788,000	90,858,000	77,407,000	77,625,000	70,378,000	58,412,000	50,601,000	42,502,000	37,120,000	37,830,000	32,096,000	28,449,000	21,594,000	22,437,000	17,519,000	16,710,000	14,542,000
total current assets	9,175,000,000	10,407,000,000	9,963,000,000	10,545,000,000	9,078,000,000	9,200,000,000	8,874,000,000	9,939,000,000	8,574,163,000	8,381,694,000	7,873,093,000	8,108,224,000	6,970,275,000	7,804,657,000	7,443,226,000	5,214,065,000	4,693,708,000	4,461,114,000	3,905,797,000	4,802,061,000	3,958,242,000	3,714,181,000	3,450,367,000	3,094,622,000	2,955,420,000	2,789,032,000	2,665,134,000	2,700,596,000	2,271,279,000	3,614,038,000	3,880,809,000	3,956,978,000	3,693,772,000	2,586,224,000	2,533,820,000	2,496,526,000	2,294,595,000	2,430,090,000	2,372,131,000	2,362,308,000	2,157,075,000	2,140,528,000	2,120,993,000	2,109,039,000	2,009,746,000	1,980,810,000	2,013,893,000	2,023,658,000	1,405,602,000	1,395,395,000	893,684,000	884,302,000	881,654,000
property and equipment	1,132,000,000	1,121,000,000	1,140,000,000	1,239,000,000	1,263,000,000	1,259,000,000	1,238,000,000	1,234,000,000	1,206,564,000	1,221,834,000	1,218,117,000	1,201,254,000	1,219,127,000	1,233,151,000	1,186,004,000	1,123,075,000	1,120,196,000	1,135,593,000	1,155,697,000	972,403,000	976,610,000	957,434,000	937,008,000	936,179,000	929,667,000	919,523,000	885,789,000	796,907,000	735,443,000	678,525,000	611,293,000	546,609,000	487,234,000	438,754,000	404,102,000	365,877,000	334,265,000	255,118,000	254,697,000	214,158,000	195,004,000	172,701,000	154,537,000	140,136,000	116,640,000	105,855,000	89,125,000	77,664,000	73,960,000	64,097,000	54,197,000	44,585,000	39,760,000
operating lease right-of-use assets	721,000,000	719,000,000	355,000,000	336,000,000	335,000,000	339,000,000	323,000,000	289,000,000	265,963,000	262,140,000	254,659,000	249,278,000	268,110,000	286,284,000	252,236,000	247,808,000	269,687,000	275,747,000	280,943,000	414,143,000	415,547,000	324,655,000	310,267,000	290,902,000	288,502,000	294,824,000	280,145,000
deferred costs, noncurrent	573,000,000	562,000,000	544,000,000	561,000,000	490,000,000	487,000,000	489,000,000	509,000,000	432,275,000	415,687,000	405,983,000	420,988,000	359,624,000	353,990,000	339,712,000	341,259,000	287,645,000	278,197,000	265,388,000	271,796,000	232,413,000	223,996,000	214,353,000	222,395,000	189,683,000	182,580,000	179,616,000	183,518,000	151,150,000	140,423,000	136,248,000	140,509,000	120,173,000	117,736,000	114,504,000	43,310,000	33,551,000	32,488,000	29,272,000	30,074,000	23,548,000	20,787,000	19,981,000	20,998,000	18,342,000	18,702,000	20,044,000	20,797,000	18,039,000	18,871,000	19,092,000	18,575,000	17,060,000
acquisition-related intangible assets	549,000,000	320,000,000	340,000,000	361,000,000	383,000,000	331,000,000	351,000,000	233,000,000	249,242,000	263,056,000	284,261,000	305,465,000	326,670,000	347,875,000	369,387,000	391,002,000	371,658,000	381,392,000	401,220,000	248,626,000	262,603,000	276,847,000	292,592,000	308,401,000	262,018,000	277,953,000	293,897,000	313,240,000	332,583,000	35,927,000	29,146,000	34,234,000	34,305,000	39,110,000	43,915,000	48,787,000
deferred tax assets	905,000,000	959,000,000	1,013,000,000	1,039,000,000	1,031,000,000	1,022,000,000	1,056,000,000	1,065,000,000
goodwill	4,263,000,000	3,478,000,000	3,478,000,000	3,478,000,000	3,479,000,000	3,257,000,000	3,257,000,000	2,846,000,000	2,846,464,000	2,840,044,000	2,840,044,000	2,840,044,000	2,840,044,000	2,840,044,000	2,840,044,000	2,840,044,000	2,428,481,000	2,362,166,000	2,362,166,000	1,819,625,000	1,819,625,000	1,819,261,000	1,819,261,000	1,819,261,000	1,389,349,000	1,389,349,000	1,379,125,000	1,379,125,000	1,377,615,000	175,073,000	159,398,000	159,376,000	158,418,000	158,540,000	158,193,000	158,354,000
other assets	433,000,000	395,000,000	379,000,000	418,000,000	365,000,000	339,000,000	353,000,000	337,000,000	351,262,000	350,860,000	376,639,000	360,985,000	405,937,000	383,549,000	368,497,000	341,252,000	269,508,000	219,636,000	252,796,000	189,757,000	179,987,000	185,077,000	203,655,000	144,605,000	141,006,000	138,895,000	140,468,000	147,360,000	132,229,000	121,074,000	110,938,000	109,718,000	70,814,000	66,763,000	54,207,000	53,570,000	48,071,000	43,485,000	55,166,000	57,738,000	65,173,000	66,915,000	52,571,000	53,681,000	52,511,000	54,152,000	47,949,000	45,658,000	22,096,000	19,122,000	5,794,000	3,130,000	3,165,000
total assets	17,751,000,000	17,961,000,000	17,212,000,000	17,977,000,000	16,424,000,000	16,234,000,000	15,941,000,000	16,452,000,000	13,925,933,000	13,735,315,000	13,252,796,000	13,486,238,000	12,389,787,000	13,249,550,000	12,799,106,000	10,498,505,000	9,440,883,000	9,113,845,000	8,624,007,000	8,718,411,000	7,845,027,000	7,501,451,000	7,227,503,000	6,816,365,000	6,155,645,000	5,992,156,000	5,824,174,000	5,520,746,000	5,000,299,000	4,765,060,000	4,927,832,000	4,947,424,000	4,564,716,000	3,407,127,000	3,308,741,000	3,166,424,000	2,922,569,000	2,829,804,000	2,776,153,000	2,730,094,000	2,511,153,000	2,443,884,000	2,382,561,000	2,358,633,000	2,232,318,000	2,194,898,000	2,206,690,000	2,176,265,000	1,528,185,000	1,505,973,000	981,255,000	959,080,000	950,148,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	103,000,000	100,000,000	92,000,000	108,000,000	74,000,000	87,000,000	76,000,000	78,000,000	79,333,000	88,814,000	113,263,000	153,751,000	75,803,000	60,710,000	123,361,000	55,487,000	47,928,000	53,082,000	48,097,000	75,596,000	54,949,000	57,764,000	35,430,000	57,556,000	35,581,000	32,540,000	35,146,000	29,093,000	28,779,000	32,910,000	30,249,000	20,998,000	35,837,000	39,948,000	28,182,000	26,824,000	28,374,000	17,135,000	18,975,000	19,605,000	16,953,000	23,668,000	13,320,000	10,623,000	9,610,000	6,561,000	12,033,000	6,212,000	8,228,000	6,337,000	16,408,000	2,665,000	3,481,000
accrued expenses and other current liabilities	352,000,000	346,000,000	271,000,000	296,000,000	323,000,000	292,000,000	254,000,000	287,000,000	234,906,000	259,426,000	227,495,000	260,131,000	334,961,000	293,646,000	246,939,000	195,590,000	196,331,000	178,857,000	208,559,000	169,266,000	129,794,000	125,784,000	111,651,000	130,050,000	109,812,000	114,494,000	129,182,000	123,542,000	131,170,000	119,972,000	112,977,000	121,879,000	108,074,000	80,410,000	71,161,000	61,582,000	66,075,000	58,880,000	66,372,000	43,122,000	45,995,000	31,706,000	31,336,000	24,132,000	34,508,000	30,180,000	30,098,000	17,999,000	17,890,000	14,619,000	13,915,000	13,558,000	14,925,000
accrued compensation	574,000,000	537,000,000	548,000,000	578,000,000	476,000,000	487,000,000	451,000,000	544,000,000	420,178,000	425,911,000	380,773,000	563,548,000	406,799,000	374,246,000	362,269,000	402,885,000	311,819,000	303,738,000	320,176,000	285,061,000	264,443,000	252,814,000	274,903,000	248,154,000	242,063,000	192,064,000	244,794,000	207,924,000	205,602,000	140,340,000	163,383,000	148,247,000	139,668,000	105,229,000	110,227,000	110,625,000	103,206,000	76,693,000	86,819,000	91,211,000	63,834,000	48,347,000	47,927,000	56,152,000	47,510,000	38,565,000	48,693,000	55,620,000	46,250,000	31,725,000	43,267,000	27,203,000	22,487,000
unearned revenue	3,871,000,000	3,852,000,000	3,812,000,000	4,467,000,000	3,447,000,000	3,549,000,000	3,552,000,000	4,057,000,000	3,196,648,000	3,308,998,000	3,227,550,000	3,559,393,000	2,815,599,000	2,888,792,000	2,820,119,000	3,110,947,000	2,423,305,000	2,454,379,000	2,361,095,000	2,556,624,000	2,000,417,000	2,003,455,000	2,012,078,000	2,223,178,000	1,795,324,000	1,796,423,000	1,734,442,000	1,837,618,000	1,460,650,000	1,393,848,000	1,319,794,000	1,426,241,000	1,129,031,000	1,118,565,000	1,079,874,000	1,097,417,000	900,441,000	854,845,000	798,086,000	768,741,000	624,819,000	601,807,000	572,212,000	547,151,000	441,324,000	409,026,000	388,054,000	332,682,000	279,290,000	247,320,000	224,363,000	199,340,000	164,421,000
operating lease liabilities	117,000,000	110,000,000	98,000,000	99,000,000	102,000,000	98,000,000	95,000,000	89,000,000	98,325,000	98,810,000	95,008,000	91,343,000	90,237,000	91,481,000	80,573,000	80,503,000	83,452,000	82,075,000	81,106,000	93,000,000	84,552,000	75,798,000	70,764,000	66,147,000	67,315,000	65,554,000	64,107,000
total current liabilities	5,017,000,000	4,945,000,000	4,821,000,000	5,548,000,000	4,422,000,000	4,513,000,000	4,428,000,000	5,055,000,000	4,029,390,000	4,181,959,000	4,044,089,000	4,628,166,000	3,723,399,000	4,857,857,000	4,781,387,000	5,067,855,000	4,275,050,000	4,274,095,000	4,210,755,000	4,282,648,000	3,625,205,000	2,553,115,000	2,770,963,000	2,969,404,000	2,491,389,000	3,434,264,000	2,443,079,000	2,430,691,000	2,055,885,000	1,913,947,000	2,196,654,000	2,058,874,000	1,749,546,000	1,676,574,000	1,289,444,000	1,296,448,000	1,098,096,000	1,007,553,000	970,252,000	922,679,000	751,681,000	706,271,000	666,554,000	641,265,000	537,633,000	489,465,000	487,320,000	421,890,000	361,702,000	310,721,000	309,132,000	254,774,000	214,894,000
debt, noncurrent	2,986,000,000	2,985,000,000	2,985,000,000	2,984,000,000	2,983,000,000	2,982,000,000	2,981,000,000	2,980,000,000	2,978,800,000	2,977,845,000	2,976,889,000	2,975,934,000	2,974,979,000	2,974,023,000	2,973,068,000	617,354,000	635,994,000	654,633,000	673,273,000	691,913,000	701,178,000	1,752,004,000	1,508,784,000
unearned revenue, noncurrent	70,000,000	65,000,000	65,000,000	80,000,000	64,000,000	62,000,000	61,000,000	70,000,000	62,148,000	60,463,000	62,200,000	74,540,000	63,736,000	53,938,000	59,308,000	71,533,000	70,606,000	64,210,000	64,914,000	80,111,000	68,874,000	64,465,000	78,320,000	86,025,000	85,566,000	89,219,000	95,708,000	111,652,000	109,694,000	89,376,000	95,270,000	110,906,000	100,135,000	104,178,000	120,389,000	135,970,000	123,179,000	124,269,000	127,970,000	130,988,000	93,206,000	81,281,000	81,211,000	85,593,000	66,807,000	72,447,000	73,889,000	80,883,000	72,479,000	78,298,000	76,575,000	85,920,000	87,742,000
operating lease liabilities, noncurrent	690,000,000	681,000,000	310,000,000	279,000,000	278,000,000	284,000,000	268,000,000	227,000,000	198,843,000	192,138,000	183,015,000	181,799,000	196,078,000	213,537,000	182,237,000	182,456,000	202,969,000	209,193,000	213,568,000	350,051,000	352,900,000	271,607,000	254,182,000	241,425,000	237,380,000	243,863,000	246,037,000
other liabilities	109,000,000	113,000,000	112,000,000	52,000,000	53,000,000	48,000,000	40,000,000	38,000,000	31,835,000	48,357,000	44,740,000	40,231,000	22,487,000	22,387,000	22,299,000	24,225,000	40,448,000	43,724,000	56,056,000	35,854,000	18,816,000	21,782,000	13,250,000	14,993,000	15,773,000	14,525,000	11,095,000	47,697,000	40,432,000	36,381,000	39,366,000	47,434,000	38,267,000	39,940,000	36,658,000	36,677,000	36,288,000	36,371,000	35,700,000	32,794,000	32,792,000	22,312,000	22,539,000	15,299,000	13,807,000	14,181,000	14,453,000	14,274,000	11,964,000	12,677,000	13,600,000	13,131,000	14,578,000
total liabilities	8,872,000,000	8,789,000,000	8,293,000,000	8,943,000,000	7,800,000,000	7,889,000,000	7,778,000,000	8,370,000,000	7,301,016,000	7,460,762,000	7,310,933,000	7,900,670,000	6,980,679,000	8,121,742,000	8,018,299,000	5,963,423,000	5,225,067,000	5,245,855,000	5,218,566,000	5,440,577,000	4,766,973,000	4,662,973,000	4,625,499,000	4,329,814,000	3,836,466,000	3,781,871,000	3,779,426,000	3,562,304,000	3,167,150,000	2,989,836,000	3,270,532,000	3,367,059,000	3,024,442,000	2,036,730,000	1,987,884,000	2,003,518,000	1,785,110,000	1,688,958,000	1,647,997,000	1,593,937,000	1,385,626,000	1,311,909,000	1,266,534,000	1,232,658,000	1,103,102,000	1,056,057,000	1,051,254,000	989,048,000	914,783,000	867,232,000	409,470,000	366,797,000	334,647,000
stockholders’ equity:
common stock									264,000	263,000	261,000		257,000	255,000	253,000		249,000	248,000	246,000		240,000	238,000	235,000		229,000	227,000	225,000		220,000	218,000	215,000		210,000	208,000	205,000		200,000	198,000	195,000		191,000	190,000	188,000		185,000	183,000	182,000		172,000	171,000	169,000
additional paid-in capital	12,311,000,000	12,055,000,000	11,701,000,000	11,463,000,000	11,115,000,000	10,869,000,000	10,512,000,000	10,400,000,000	9,981,756,000	9,637,303,000	9,195,197,000	8,828,639,000	8,400,756,000	7,988,096,000	7,596,787,000	7,284,174,000	6,919,963,000	6,639,067,000	6,298,516,000	6,254,936,000	6,184,070,000	5,954,738,000	5,330,170,000	5,090,187,000	4,793,732,000	4,561,272,000	4,294,370,000	4,105,334,000	4,049,785,000	3,869,111,000	3,489,690,000	3,354,423,000	3,195,130,000	2,945,596,000	2,791,520,000	2,681,200,000	2,549,639,000	2,444,172,000	2,329,904,000	2,247,454,000	2,156,551,000	2,084,815,000	2,000,047,000	1,948,300,000	1,891,872,000	1,841,688,000	1,788,551,000	1,761,156,000	1,131,453,000	1,109,332,000	1,006,446,000	993,933,000	986,245,000
treasury stock	-2,706,000,000	-1,900,000,000	-1,601,000,000	-1,308,000,000	-1,208,000,000	-1,051,000,000	-742,000,000	-608,000,000	-471,481,000	-323,695,000	-185,047,000	-185,047,000	-110,382,000	-12,588,000	-12,584,000	-12,467,000	-12,437,000	-12,431,000	-12,420,000	-12,384,000	-269,083,000	-303,201,000							-178,801,000	-193,679,000
accumulated other comprehensive income	-69,000,000	-74,000,000	-44,000,000	84,000,000	16,000,000	19,000,000	17,000,000	21,000,000	33,207,000	-6,780,000	42,650,000	53,051,000	104,114,000	62,961,000	43,109,000	7,709,000	-20,627,000	-44,150,000	-60,421,000	-54,970,000	1,110,000	646,000	57,526,000	23,492,000	24,619,000	32,458,000	13,113,000	-809,000	3,768,000	-12,431,000	-30,766,000	-46,413,000	-16,310,000	-22,197,000	-190,000	2,071,000	2,622,000	-2,588,000	-9,032,000	799,000	-54,000	320,000		-140,000	64,000	-37,000	481,000	269,000	184,000	111,000	65,000	68,000	32,000
accumulated deficit	-657,000,000	-909,000,000	-1,137,000,000	-1,205,000,000	-1,299,000,000	-1,492,000,000	-1,624,000,000	-1,731,000,000	-2,918,829,000	-3,032,538,000	-3,111,198,000	-3,111,334,000	-2,985,637,000	-2,910,916,000	-2,846,758,000	-2,744,585,000	-2,671,332,000	-2,714,744,000	-2,820,480,000	-2,909,990,000	-2,838,283,000	-2,813,943,000	-2,785,927,000	-2,627,359,000	-2,499,401,000	-2,383,672,000	-2,262,960,000	-2,146,304,000	-2,041,823,000	-1,887,995,000	-1,801,839,000	-1,727,856,000	-1,638,756,000	-1,553,210,000	-1,470,678,000	-1,520,567,000	-1,415,002,000	-1,300,936,000	-1,192,911,000	-1,112,289,000	-1,031,161,000	-953,350,000	-883,929,000	-822,371,000	-762,905,000	-702,993,000	-633,778,000	-574,389,000	-518,407,000	-470,873,000	-434,895,000	-401,880,000	-370,936,000
total stockholders’ equity	8,879,000,000	9,172,000,000	8,919,000,000	9,034,000,000	8,624,000,000	8,345,000,000	8,163,000,000	8,082,000,000	6,624,917,000	6,274,553,000	5,941,863,000	5,585,568,000	5,409,108,000	5,127,808,000	4,780,807,000	4,535,082,000	4,215,816,000	3,867,990,000	3,405,441,000	3,277,834,000	3,078,054,000	2,838,478,000	2,602,004,000	2,486,551,000	2,319,179,000	2,210,285,000	2,044,748,000	1,958,442,000	1,833,149,000	1,775,224,000	1,657,300,000	1,580,365,000	1,540,274,000	1,370,397,000	1,320,857,000	1,162,906,000	1,137,459,000	1,140,846,000	1,128,156,000	1,136,157,000	1,125,527,000	1,131,975,000	1,116,027,000	1,125,975,000	1,129,216,000	1,138,841,000	1,155,436,000	1,187,217,000	613,402,000	638,741,000	571,785,000	592,283,000	615,501,000
total liabilities and stockholders’ equity	17,751,000,000	17,961,000,000	17,212,000,000	17,977,000,000	16,424,000,000	16,234,000,000	15,941,000,000	16,452,000,000	13,925,933,000	13,735,315,000	13,252,796,000	13,486,238,000	12,389,787,000	13,249,550,000	12,799,106,000	10,498,505,000	9,440,883,000	9,113,845,000	8,624,007,000	8,718,411,000	7,845,027,000	7,501,451,000	7,227,503,000	6,816,365,000	6,155,645,000	5,992,156,000	5,824,174,000	5,520,746,000	5,000,299,000	4,765,060,000	4,927,832,000	4,947,424,000	4,564,716,000	3,407,127,000	3,308,741,000	3,166,424,000	2,922,569,000	2,829,804,000	2,776,153,000	2,730,094,000	2,511,153,000	2,443,884,000	2,382,561,000	2,358,633,000	2,232,318,000	2,194,898,000	2,206,690,000	2,176,265,000	1,528,185,000	1,505,973,000	981,255,000
trade and other receivables, net of allowance for credit losses of 10 and 11, respectively				1,950,000,000
commitments and contingencies
preferred stock, 0.001 par value...
class a common stock, 0.001 par value...												204,000				196,000				184,000				170,000				157,000				142,000				127,000				115,000				104,000				90,000				26,000	26,000
class b common stock, 0.001 par value...												55,000				55,000				58,000				61,000				64,000				69,000				75,000				78,000				82,000				91,000
debt, current														1,148,982,000	1,148,126,000	1,222,443,000	1,212,215,000	1,201,964,000	1,191,722,000	1,103,101,000	1,091,050,000	37,500,000	266,137,000
trade and other receivables, net of allowance for credit losses of 14,267 and 6,762, respectively																				1,032,484,000
trade and other receivables, net of allowance for doubtful accounts of 6,762 and 5,965, respectively																								877,578,000
current portion of convertible senior notes																								244,319,000	241,294,000	1,233,189,000	235,408,000	232,514,000	229,684,000	226,877,000	570,251,000	341,509,000	336,936,000	332,422,000
convertible senior notes																								1,017,967,000	1,006,358,000		983,507,000	972,264,000	961,139,000	950,132,000	939,242,000	1,149,845,000	1,136,494,000	216,038,000	541,393,000	534,423,000	527,547,000	520,765,000	514,075,000	507,476,000	507,947,000	502,045,000	496,230,000	490,501,000	484,855,000	479,293,000	473,812,000	468,412,000	463,092,000	457,849,000
trade and other receivables, net of allowance for doubtful accounts of 5,965 and 2,212, respectively																												704,680,000
trade and other receivables, net of allowance for doubtful accounts of 2,212 and 2,102																																528,208,000
accounts receivable																																				383,908,000	268,945,000	248,658,000	193,100,000	293,407,000	170,851,000	156,282,000	128,493,000	188,357,000	118,943,000	100,534,000	99,136,000	92,184,000	86,961,000	66,972,000	60,345,000	67,437,000	61,099,000
goodwill and acquisition-related intangible assets																																					212,087,000	68,623,000	64,887,000	65,816,000	70,353,000	42,953,000	34,479,000	34,779,000	35,079,000	35,379,000	35,679,000
capital leases																																									80,000	743,000	1,759,000	3,207,000	4,681,000	5,133,000	8,442,000	9,377,000	10,044,000	10,720,000	11,179,000	12,008,000	6,946,000
accumulated other comprehensive loss																																											-279,000
capital leases, noncurrent																																														671,000	1,780,000	3,589,000	5,546,000	7,687,000	10,163,000	12,972,000	17,144,000
goodwill and acquisition related intangible assets																																																8,488,000
goodwill and intangible assets																																																	8,488,000	8,488,000	8,488,000	8,488,000	8,509,000
liabilities, redeemable convertible preferred stock and stockholders’ equity
redeemable convertible preferred stock, 0.001 par value...
stockholders’ equity
convertible preferred stock, 0.001 par value...
class b common stock 0.001 par value...																																																				136,000	134,000
common stock, 0.001 par value...
total liabilities, redeemable convertible preferred stock and stockholders’ equity																																																				959,080,000	950,148,000
capital leases with related party																																																					2,634,000
capital lease with related party, noncurrent																																																					289,000
stockholder’s equity

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31	2024-04-30	2024-01-31	2023-10-31	2023-07-31	2023-04-30	2023-01-31	2022-10-31	2022-07-31	2022-04-30	2022-01-31	2021-10-31	2021-07-31	2021-04-30	2021-01-31	2020-10-31	2020-07-31	2020-04-30	2020-01-31	2019-10-31	2019-07-31	2019-04-30	2019-01-31	2018-10-31	2018-07-31	2018-04-30	2018-01-31	2017-10-31	2017-07-31	2017-04-30	2017-01-31	2016-10-31	2016-07-31	2016-04-30	2016-01-31	2015-10-31	2015-07-31	2015-04-30	2015-01-31	2014-10-31	2014-07-31	2014-04-30	2014-01-31	2013-10-31	2013-07-31	2013-04-30	2013-01-31

cash flows from operating activities:
net income	252,000,000	228,000,000	68,000,000	333,000,000	61,000,000	25,000,000	107,000,000	1,267,291,000	35,049,000	78,524,000	136,000	-292,028,000	-10,563,000	38,015,000	-102,173,000	-14,039,000	-62,324,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	85,000,000	81,000,000	84,000,000	245,000,000	2,000,000	4,000,000	75,000,000	213,386,000	-2,801,000	974,000	70,441,000	272,503,000	-841,000	2,849,000	89,846,000	256,596,000	1,744,000	2,920,000	82,463,000	219,793,000	686,000	1,664,000	71,514,000	204,045,000	4,479,000	6,589,000	61,165,000	140,509,000	15,376,000	3,562,000	38,664,000	101,992,000	961,000	644,000	33,377,000	85,432,000	3,791,000	538,000	26,124,000	63,679,000	2,372,000	1,319,000	18,569,000	43,523,000	1,208,000	1,951,000	12,523,000	25,334,000	1,310,000	1,482,000	6,569,000	13,261,000
share-based compensation expense	376,000,000	392,000,000	459,000,000																																														9,900,000
amortization of deferred costs	75,000,000	72,000,000	68,000,000	187,000,000	2,000,000	3,000,000	59,000,000	158,550,000	2,356,000	3,206,000	48,888,000	129,781,000	2,572,000	2,831,000	39,427,000	103,315,000	1,734,000	2,134,000	31,614,000	83,915,000	1,383,000	1,289,000	26,060,000	67,626,000	1,013,000	1,122,000	20,880,000	53,073,000	1,104,000	701,000	16,360,000	43,043,000	510,000	372,000	13,637,000	19,070,000	367,000	267,000	5,873,000	18,088,000	-2,346,000	3,110,000	4,625,000	13,548,000	1,319,000	469,000	3,952,000	9,008,000	455,000	274,000	2,482,000	8,618,000
non-cash lease expense	30,000,000	27,000,000	27,000,000	77,000,000	1,000,000	0	25,000,000	71,546,000	171,000	409,000	23,874,000	68,391,000	448,000	863,000	22,048,000	64,828,000	338,000	-1,161,000	22,230,000	62,235,000	2,262,000	1,510,000	18,369,000	50,244,000
net losses on investments
accretion of discounts on marketable debt securities	-14,000,000	-18,000,000	-20,000,000	-85,000,000	1,000,000	4,000,000	-33,000,000	-109,621,000
deferred income taxes	61,000,000	66,000,000	18,000,000	28,000,000	-22,000,000	21,000,000	6,000,000
other	5,000,000	0	47,000,000	26,000,000	-17,000,000	8,000,000	1,000,000	-6,963,000	33,835,000	-6,284,000	-37,588,000	9,394,000	-8,162,000	10,704,000	709,000	-17,624,000	11,417,000	-11,403,000	3,397,000	-3,551,000	-21,190,000	8,060,000	4,370,000	-37,807,000	-8,657,000	2,425,000	8,976,000	-22,205,000	-26,096,000	4,395,000	-9,289,000	-8,308,000	-3,227,000	-745,000	2,678,000	-2,060,000	-1,840,000	2,236,000	-318,000	999,000	2,167,000	-2,856,000	737,000	1,116,000	1,566,000	-362,000	604,000	592,000	-110,000	222,000	-26,000	45,000
changes in operating assets and liabilities, net of business combinations:
trade and other receivables	-126,000,000	-264,000,000	601,000,000	-199,000,000	43,000,000	-666,000,000	509,000,000	-124,719,000	221,106,000	-656,702,000	473,315,000	-380,485,000	386,726,000	-787,805,000	462,964,000	-214,582,000	234,160,000	-619,630,000	392,119,000	-105,317,000	55,393,000	-400,218,000	290,902,000	-178,338,000	75,634,000	-230,816,000	157,379,000	-151,148,000	95,379,000	-273,460,000	168,702,000	-133,683,000	90,492,000	-183,237,000	111,815,000
deferred costs	-95,000,000	-99,000,000	-53,000,000	-264,000,000	-9,000,000	-24,000,000	-40,000,000	-262,073,000	-11,418,000	-33,714,000	-34,795,000	-235,885,000	8,190,000	-23,013,000	-41,729,000	-187,799,000	2,180,000	-26,564,000	-26,270,000	-142,530,000	18,000	-23,781,000	-18,060,000	-114,753,000	-6,208,000	-9,722,000	-18,485,000	-98,770,000	-9,283,000	-11,337,000	-12,606,000	-73,307,000	192,000	-8,056,000	-11,381,000	-36,560,000	2,513,000	-5,698,000	-4,788,000	-25,155,000	-1,662,000	-3,581,000	-3,501,000	-19,174,000	2,093,000	-2,970,000	-3,463,000	-15,725,000	-1,479,000	-631,000	-3,236,000	-12,480,000
prepaid expenses and other assets	27,000,000	53,000,000	-38,000,000	17,000,000	-13,000,000	67,000,000	-21,000,000	-2,644,000	46,197,000	44,259,000	-18,812,000	-16,505,000	12,320,000	14,112,000	-23,997,000	-53,203,000	21,581,000	32,035,000	-35,566,000	26,219,000	35,035,000	-29,114,000	19,977,000	-25,199,000	9,142,000	3,428,000	-5,107,000	-10,359,000	-539,000	-13,934,000	8,488,000	-57,628,000	-2,387,000	-5,918,000	-3,050,000	-19,422,000	10,477,000	-11,126,000	-776,000	-18,844,000	-1,716,000	-136,000	-7,670,000	-17,110,000	4,334,000	4,602,000	-7,350,000	-23,224,000	3,927,000	-3,016,000	-3,563,000	-6,482,000
accounts payable			-4,000,000	40,000,000	-17,000,000	-8,000,000	10,000,000	-65,475,000	-9,008,000	60,793,000	-58,310,000	67,657,000	22,258,000	-11,052,000	6,910,000	21,421,000	-20,067,000	8,230,000	-170,000	-7,238,000	-5,545,000	31,689,000	-22,382,000	18,355,000	891,000	-456,000	1,503,000	18,025,000	-18,135,000	-1,967,000	7,954,000	134,000	-18,161,000	11,343,000	-565,000	4,076,000	718,000	3,264,000	-1,722,000	10,543,000	-5,147,000	-1,324,000	2,752,000	-2,936,000	4,079,000	2,407,000	-2,430,000	1,656,000	640,000	-1,170,000	2,421,000	188,000
accrued expenses and other liabilities	-25,000,000	32,000,000	-131,000,000	-29,000,000	-81,000,000	262,000,000	-193,000,000	-62,841,000	-68,162,000	259,317,000	-223,314,000	88,904,000	21,996,000	55,938,000	-30,873,000	48,173,000	18,185,000	-4,767,000	-10,920,000	-13,435,000	34,800,000	-38,333,000	-1,504,000	-41,496,000	98,240,000	-77,927,000	21,403,000	-9,001,000	79,078,000	-26,809,000	11,627,000		72,643,000	-17,561,000	4,089,000														25,649,000
unearned revenue	-30,000,000	41,000,000	-670,000,000	508,000,000	-107,000,000	522,000,000	-525,000,000	603,533,000	-190,133,000	423,720,000	-344,120,000	514,806,000	-126,491,000	366,279,000	-303,001,000	555,007,000	-118,096,000	318,184,000	-225,579,000	326,022,000	23,908,000	196,157,000	-218,707,000	359,773,000	-60,216,000	174,559,000	-119,098,000	325,039,000	-48,789,000	190,223,000	-122,055,000	309,114,000	-15,964,000	43,706,000	-21,272,000	289,101,000	-14,557,000	26,802,000	26,269,000	232,086,000	5,054,000	8,986,000	20,679,000	192,521,000	7,128,000	-28,848,000	48,378,000	102,154,000	1,471,000	9,002,000	15,678,000	92,471,000
net cash from operating activities	588,000,000	616,000,000	457,000,000	2,055,000,000	-165,000,000	199,000,000	372,000,000	1,698,225,000	25,511,000	147,948,000	277,316,000	1,248,527,000	294,310,000	-325,359,000	439,717,000	1,266,050,000	186,181,000	-253,955,000	452,428,000	974,639,000	136,592,000	-106,473,000	263,683,000	606,596,000	157,683,000	-108,844,000	209,163,000	492,362,000	56,680,000	-126,617,000	184,233,000	321,696,000	128,905,000	-164,896,000	180,022,000	277,196,000	65,201,000	-155,208,000	161,466,000	203,491,000	39,635,000	-78,548,000	94,059,000	60,961,000	50,053,000	-30,708,000	21,697,000	39,187,000	19,992,000	-30,226,000	17,310,000	20,572,000
cash flows from investing activities:
purchases of marketable securities	-239,000,000	-866,000,000	-1,345,000,000	-3,794,000,000	373,000,000	-587,000,000	-778,000,000	-4,877,136,000	312,468,000	302,558,000	-1,887,890,000	-4,872,046,000	-981,444,000	681,148,000	-2,010,619,000	-2,136,454,000	107,095,000	-63,975,000	-765,395,000	-1,925,172,000	-204,167,000	-48,561,000	-553,985,000	-1,422,324,000	207,704,000	-111,794,000	-471,054,000	-1,900,574,000	436,922,000	381,910,000	-908,126,000	-1,585,214,000	-645,586,000	328,054,000	-613,251,000	-1,536,618,000	176,560,000	76,776,000	-633,956,000	-1,502,464,000	-146,907,000	-90,895,000	-385,575,000	-1,283,621,000	-88,440,000	304,627,000	-670,406,000	-1,087,453,000	-57,927,000	-154,019,000	-287,841,000	-477,138,000
maturities of marketable securities	547,000,000	793,000,000	722,000,000	2,998,000,000	-187,000,000	-61,000,000	1,096,000,000	3,394,724,000	-115,337,000	7,784,000	1,231,829,000	2,767,686,000	1,196,260,000	383,412,000	601,475,000	2,129,857,000	-97,578,000	-85,584,000	857,408,000	1,374,424,000	-45,106,000	91,618,000	381,398,000	1,192,620,000	108,313,000	-74,387,000	460,097,000	1,720,922,000	-285,434,000	-31,471,000	686,676,000	1,219,165,000	918,000	-70,399,000	441,870,000	1,536,439,000	-89,723,000	-86,273,000	625,588,000	1,350,588,000	122,084,000	147,779,000	281,407,000	1,050,470,000	-45,258,000	61,012,000	353,230,000	727,002,000	86,081,000	-236,549,000	406,708,000	91,732,000
sales of marketable securities	2,388,000,000	125,000,000	140,000,000	225,000,000	-3,000,000	34,000,000	17,000,000	98,310,000	20,195,000	3,312,000	22,183,000	84,336,000	-8,249,000	23,107,000	5,130,000			2,372,000	12,457,000				5,279,000			-46,397,000	50,948,000	946,582,000	-911,550,000	887,579,000	27,359,000
capital expenditures	-38,000,000	-28,000,000	-36,000,000	-222,000,000	8,000,000	26,000,000	-81,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-96,572,000	-15,893,000	13,732,000	-20,882,000	-76,223,000	-2,409,000	-19,360,000	3,122,000	-43,715,000	13,922,000	-40,699,000	11,380,000	-15,097,000
free cash flows	550,000,000	588,000,000	421,000,000	1,833,000,000	-157,000,000	225,000,000	291,000,000	1,698,225,000	25,511,000	147,948,000	277,316,000	1,248,527,000	294,310,000	-325,359,000	439,717,000	1,266,050,000	186,181,000	-253,955,000	452,428,000	974,639,000	136,592,000	-106,473,000	263,683,000	606,596,000	157,683,000	-108,844,000	209,163,000	492,362,000	56,680,000	-126,617,000	184,233,000	321,696,000	128,905,000	-164,896,000	180,022,000	277,196,000	65,201,000	-155,208,000	161,466,000	106,919,000	23,742,000	-64,816,000	73,177,000	-15,262,000	47,644,000	-50,068,000	24,819,000	-4,528,000	33,914,000	-70,925,000	28,690,000	5,475,000
business combinations, net of cash acquired				-523,000,000	-292,000,000	502,000,000	-512,000,000	517,000								-1,129,554,000			-679,220,000									-26,737,000	-1,420,863,000							-3,670,000	-140,539,000			-7,859,000	-15,616,000						-26,317,000
purchases of other intangible assets
purchases of non-marketable equity and other investments	-2,000,000	-11,000,000	-4,000,000	-19,000,000	4,000,000						-10,500,000	-19,923,000	-1,350,000	13,123,000	-15,023,000	-96,291,000	-14,681,000	33,728,000	-45,767,000	-62,864,000	1,732,000	45,900,000	-52,250,000	-15,816,000	-4,061,000	-3,316,000	-2,200,000	-13,641,000	-28,375,000	1,400,000	-2,400,000
sales of non-marketable equity and other investments
net cash from investing activities	1,687,000,000	13,000,000	-523,000,000	-1,331,000,000	-104,000,000	-88,000,000	-258,000,000	-1,578,991,000	213,334,000	327,633,000	-712,976,000	-2,337,863,000	318,932,000	983,746,000	-1,470,741,000	-1,440,567,000	-27,527,000	722,384,000	-861,716,000	-778,958,000	-260,028,000	74,709,000	-277,347,000	-929,481,000	353,304,000	-253,390,000	-67,355,000	425,295,000	-2,180,386,000	1,196,893,000	-284,586,000	-383,522,000	-796,803,000	424,234,000	-222,889,000	-73,665,000	-64,441,000	30,565,000	-61,344,000	-232,670,000	6,248,000	50,623,000	-124,348,000			370,558,000	-352,366,000	-422,329,000	41,129,000	-418,495,000	117,062,000	-400,503,000
cash flows from financing activities:
repurchases of common stock	-802,000,000	-299,000,000	-290,000,000	-542,000,000	154,000,000	-184,000,000	-128,000,000	-278,314,000	-6,039,000
proceeds from issuance of common stock from employee equity plans	0																			145,023,000	-67,290,000	67,363,000	3,577,000	123,893,000	-56,305,000	54,630,000	3,455,000	90,800,000	-35,919,000	36,075,000	2,611,000	67,082,000	-30,300,000	30,021,000	2,253,000	53,588,000	-20,904,000	22,014,000	3,381,000	43,296,000	-16,812,000	15,608,000	3,564,000	33,624,000	-12,554,000	12,173,000	2,996,000
taxes paid related to net share settlement of equity awards	-123,000,000	-161,000,000	-211,000,000	-512,000,000	17,000,000	98,000,000	-239,000,000
net cash from financing activities	-925,000,000	-349,000,000	-501,000,000	-868,000,000	65,000,000	20,000,000	-367,000,000	-118,442,000	-100,962,000	-45,436,000	-3,160,000	2,352,894,000	-1,232,160,000	-2,194,615,000	2,277,702,000	117,774,000	-73,821,000	77,306,000	-11,008,000	630,955,000	-76,686,000	-428,551,000	499,331,000	123,522,000	-56,349,000	54,589,000	3,362,000	-259,415,000	314,082,000	-313,932,000	2,554,000	66,948,000	1,007,072,000	30,033,000	2,209,000	54,755,000	-20,664,000	21,833,000	3,757,000	42,166,000	-16,575,000	15,985,000	2,533,000	17,872,000	-5,884,000	12,162,000	-4,695,000	1,134,386,000	-533,293,000	531,697,000	820,000	331,000
effect of exchange rate changes	-1,000,000	1,000,000	1,000,000					-213,000	-1,005,000	347,000	-129,000	325,000	-775,000	540,000	-685,000	-755,000	371,000	-507,000	186,000	1,294,000	-731,000	1,036,000	-265,000	-330,000	-27,000	402,000	-327,000	-401,000	-51,000	258,000	-420,000	1,073,000	-1,037,000	847,000	-132,000	522,000	7,000	-782,000	638,000	-407,000	-87,000	-258,000	48,000	-242,000	-168,000	-54,000	39,000	-104,000			-86,000	-10,000
net increase in cash, cash equivalents, and restricted cash				-144,000,000	-204,000,000	131,000,000	-253,000,000	579,000	136,878,000	430,492,000	-438,949,000	1,263,883,000	-619,693,000	-1,535,688,000	1,245,993,000	-57,498,000	85,204,000	545,228,000	-420,110,000	827,930,000	-200,853,000	-459,279,000	485,402,000	-199,693,000	454,611,000	-307,243,000	144,843,000	657,841,000	-1,809,675,000	756,602,000	-98,219,000
cash, cash equivalents, and restricted cash at the beginning of period	0	0	1,554,000,000	375,000,000	-122,000,000	-253,000,000	2,024,000,000	447,166,000	-8,457,000	-438,949,000	1,895,240,000	-956,298,000	-289,695,000	1,245,993,000	1,540,745,000	294,992,000	125,118,000	-420,110,000	1,387,921,000	-511,525,000	26,123,000	485,402,000	734,721,000	17,557,000	-162,400,000	144,843,000	642,203,000	-560,164,000	658,383,000	-98,219,000	1,135,654,000
cash, cash equivalents, and restricted cash at the end of period	1,349,000,000	281,000,000	988,000,000	231,000,000	-326,000,000	-122,000,000	1,771,000,000	447,745,000	128,421,000	-8,457,000	1,456,291,000	307,585,000	-909,388,000	-289,695,000	2,786,738,000	237,494,000	210,322,000	125,118,000	967,811,000	316,405,000	-174,730,000	26,123,000	1,220,123,000	-182,136,000	292,211,000	-162,400,000	787,046,000	97,677,000	-1,151,292,000	658,383,000	1,037,435,000
losses on investments		1,000,000	1,000,000	20,000,000	-7,000,000	-4,000,000	7,000,000	9,512,000	10,353,000	-9,006,000	8,141,000	34,613,000	-20,332,000	8,419,000	8,080,000	-120,623,000	81,053,000
net decrease in cash, cash equivalents, and restricted cash		281,000,000	-566,000,000
purchase of other intangible assets				-1,000,000				-9,300,000			-9,500,000	0
sales and maturities of non-marketable equity and other investments								1,946,000				7,026,000	4,418,000	-6,971,000	7,066,000	3,295,000	-1,396,000	3,245,000	25,000	7,204,000	-1,537,000	-3,077,000	4,638,000	0				140,000
proceeds from issuance of debt, net of debt discount															2,978,077,000
repayments and extinguishment of debt												-693,983,000	-1,149,592,000	693,923,000	-693,953,000
payments for debt issuance costs															-7,220,000
share-based compensation expenses					-2,000,000	-15,000,000	385,000,000	1,066,743,000	-2,655,000	-17,548,000	369,460,000	980,426,000	6,189,000	-3,499,000	311,506,000	821,589,000	14,276,000	84,000	264,635,000	745,022,000	8,596,000	14,564,000	236,672,000	628,569,000	22,090,000	23,677,000	185,235,000	464,494,000	40,908,000	14,404,000	132,659,000	355,946,000	956,000	13,735,000	107,788,000	272,174,000	11,876,000	9,987,000	78,235,000	181,311,000	3,895,000	17,490,000	47,274,000	109,040,000	6,226,000	11,908,000	28,874,000
owned real estate projects								-2,576,000	-58,000	-1,044,000	-322,000	-4,055,000	64,000	-225,000	-20,000	-171,497,000	67,000	171,352,000	-171,423,000	-5,044,000	692,000	723,000	-2,487,000	-77,476,000	12,317,000	5,485,000	-39,634,000	-143,878,000	12,235,000	-10,304,000	-39,233,000	-97,195,000	-4,620,000	6,543,000	-29,539,000	-47,292,000	-52,917,000
capital expenditures, excluding owned real estate projects								-169,476,000	5,229,000	-4,977,000	-58,776,000	-300,887,000	109,933,000	-109,848,000	-58,750,000	-230,932,000	54,446,000	-17,985,000	-69,796,000	-175,183,000	-11,642,000	-6,615,000	-59,940,000	-188,531,000	20,413,000	-10,041,000	-65,535,000	-147,080,000	-2,081,000	-4,484,000	-48,862,000	-105,180,000	2,172,000	-7,935,000	-30,593,000	-93,295,000	-979,000
proceeds from issuance of common stock from employee equity plans, net of taxes paid for shares withheld								159,803,000	-94,999,000	93,096,000	-2,900,000	151,264,000	-82,592,000	82,312,000	990,000	146,434,000	-73,950,000	77,201,000	-1,357,000
changes in operating assets and liabilities:
amortization and writeoff of debt discount and issuance costs
amortization of debt discount and issuance costs																2,991,000	0	0	997,000	41,595,000	-2,430,000	-312,000	14,840,000	40,522,000	-789,000	2,714,000	11,587,000	47,632,000	-5,148,000	-649,000	18,139,000	31,659,000	5,472,000	-165,000	6,950,000	20,165,000	92,000	91,000	6,599,000	19,096,000	86,000	86,000	6,250,000	18,088,000	81,000	82,000	5,920,000	8,631,000	2,974,000
proceeds from borrowings on term loan, net of debt discount and issuance costs
payments on convertible senior notes																-105,000	11,000	31,000	-51,000			-249,944,000	-1,000	-27,000	24,000			-350,027,000	350,002,000
payments on term loan																-28,125,000	0	0	-9,375,000	-9,375,000
net loss																			-46,522,000	-258,091,000	3,676,000	130,352,000	-158,368,000	-364,945,000	4,983,000	-4,437,000	-116,275,000	-264,927,000	-67,175,000	-11,746,000	-74,410,000	-235,676,000	-3,014,000	-18,488,000	-64,044,000	-294,212,000	-6,041,000	-27,403,000	-80,622,000	-212,107,000	-8,390,000	-7,863,000	-61,558,000	-188,070,000	9,303,000	-9,826,000	-59,389,000	-124,975,000	-11,556,000	-2,963,000	-33,015,000	-77,880,000
adjustments to reconcile net loss to net cash from operating activities:
proceeds from borrowings on term loan																						-247,795,000	497,795,000
cash flows from operating activities
cash flows from investing activities
cash flows from financing activities
proceeds from borrowings on convertible senior notes, net of issuance costs																																0
proceeds from issuance of warrants																																0
purchase of convertible senior notes hedges																																0
sale and maturities of non-marketable equity and other investments
gain on sale of cost method investment																																-526,000	332,000
impairment of cost method investment																																592,000
accrued expense and other liabilities																																				-7,224,000	37,108,000	-12,062,000	5,545,000	27,552,000	29,259,000	-3,272,000	6,185,000	-11,307,000	29,873,000	-15,693,000	1,091,000
sales of available-for-sale securities																																210,841,000	-147,977,000	171,789,000	9,074,000	69,952,000	34,688,000	28,452,000	200,000	33,524,000	49,663,000	9,524,000	10,000,000
purchases of cost method investments																																-10,927,000	-272,000	-4,550,000	-450,000			-100,000	-100,000	-15,850,000	15,050,000
sales and maturities of cost method investments
sale and maturities of cost method investments																																	-438,000
net increase in cash, cash equivalents and restricted cash																																	338,137,000	290,218,000	-40,790,000
cash, cash equivalents and restricted cash at the beginning of period																																	249,428,000	-40,790,000	541,894,000
cash, cash equivalents and restricted cash at the end of period																																	587,565,000	249,428,000	501,104,000
reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets
cash and cash equivalents																																			498,931,000
restricted cash included in prepaid expenses and other current assets																																			2,173,000
total cash, cash equivalents and restricted cash																																			501,104,000
supplemental cash flow data
cash paid for interest																																				6,436,000	-3,193,000	3,237,000	4,000	6,448,000	-3,203,000	3,178,000	33,000	6,813,000	-3,313,000	3,180,000	189,000	4,622,000	-39,000	-121,000	424,000	1,011,000
cash paid for income taxes																																			1,346,000
non-cash investing and financing activities:
vesting of early exercise stock options																																			282,000		-15,000	0	460,000		0	0	472,000		1,000				-647,000
property and equipment, accrued but not paid																																			32,515,000		14,491,000	-10,081,000	21,507,000
non-cash additions to property and equipment																																			142,000	2,027,000	-327,000	-127,000	521,000
accounts receivable																																				-68,279,000	35,632,000	-157,039,000	101,047,000	-90,537,000	12,843,000	-87,287,000	59,717,000	-78,278,000	-17,157,000	5,572,000	-7,013,000	-5,040,000	-13,189,000	-13,939,000	7,131,000	-20,352,000
principal payments on capital lease obligations																																								-2,530,000	353,000	432,000	-1,448,000	-8,636,000	3,295,000	-1,674,000	-2,744,000	-9,312,000	118,000	818,000	-3,753,000	-7,970,000
shares repurchased for tax withholdings on vesting of restricted stock																																														1,723,000	-5,007,000
net increase in cash and cash equivalents																																				258,808,000	-19,897,000	-103,592,000	104,517,000	12,580,000	29,221,000	-12,198,000	-27,708,000	-212,642,000	-87,125,000	351,958,000	-335,325,000	751,140,000	-472,140,000	83,062,000	135,106,000	-379,610,000
cash and cash equivalents at the beginning of period																																				-105,442,000	925,000	104,517,000	300,087,000	67,614,000	-39,906,000	-27,708,000	298,192,000	318,692,000	16,633,000	-335,325,000	581,326,000	-353,274,000	218,168,000	135,106,000	84,158,000	20,788,000
cash and cash equivalents at the end of period																																				153,366,000	-18,972,000	925,000	404,604,000	80,194,000	-10,685,000	-39,906,000	270,484,000	106,050,000	-70,492,000	16,633,000	246,001,000	397,866,000	-253,972,000	218,168,000	219,264,000	-358,822,000
cash paid for taxes																																						2,985,000	581,000	1,506,000	200,000	-198,000	616,000
vesting of early exercised stock options																																															473,000				531,000
purchases of property and equipment, accrued but not paid																																								-3,185,000	-1,405,000	9,344,000	9,298,000	-276,000	-3,119,000	-824,000	12,995,000	253,000	947,000	-12,862,000	13,275,000
sale of cost method investment
change in restricted cash																																					7,900,000
owned real estate investments																																							-18,986,000
capital expenditures, excluding owned real estate investments																																							-34,478,000
purchases of property and equipment																																								-93,387,000	-14,488,000	4,388,000	-30,180,000	-75,947,000	710,000	-18,536,000	-9,873,000	-43,968,000	12,975,000	-27,837,000	-1,895,000	-15,097,000
proceeds from follow-on offering, net of issuance costs
property and equipment acquired under capital leases																																																			115,000	5,054,000
donation of common stock to workday foundation																																																				0
purchase of cost method investment
proceeds from initial public offering, net of issuance costs
supplemental cash flow data:
accretion of redeemable convertible preferred stock																																																				407,000
net cash (used in) investing activities
adjustments to reconcile net loss to net cash provided (used in) by operating activities:
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs
proceeds of initial public offering, net of issuance costs
proceeds from exercise of stock options																																																	527,000	-2,455,000	4,565,000	7,415,000
share-based compensation																																																			7,416,000	9,176,000
accrued and other liabilities																																																			15,453,000	14,007,000
adjustments to reconcile net loss to cash from operating activities:
adjustments to reconcile net loss to net cash from (cash from) operating activities:
proceeds of initial public offering, net of issuances costs
principal payments on capital lease obligations with related party
property and equipment acquired under capital leases – related party

Workday, Inc(NASDAQ:WDAY)

Workday, Inc
(NASDAQ:WDAY)