No. So I guess there is this situation where we would like to know more as well in terms of how is the environment going to be evolving recognizing that we're seeing gradual improvement, at least for our business and where we deliver and the stabilization and certainly we are in a much better place right now than we were at the beginning of the pandemic back in March, April time frame. We estimate non-GAAP operating margins of approximately 15% in Q1 and expect a normal seasonal sequential decline in Q2 as we invest in our people through our annual compensation process. Yeah. Please proceed with your question. And there have been other periods of uncertainty that we've gone through together over the years. I guess where are we in that journey in terms of the -- as we look to Q4 and beyond, how much room left is there in terms of installed base monetization? Workday (WDAY) Q4 2019 Earnings Conference Call Transcript WDAY earnings call for the period ending January 31, 2019. Press Release. But as you mentioned it's really early in this situation. And that's a combination of customers that we're selling planning first as well as customers that we're selling into the Workday installed base. Definitely last, but not least, if we -- some of the distressed or mostly hit verticals today, hopefully will have a better -- there will be a better place clearly as we get into a world where there is a little bit more at the outside of the vaccine [Indecipherable] overall, right. Over to you, Robynne. In the meantime we're going to do things virtually. It's impacted by things like duration, which -- and maybe I'll go to your second question now, we did see increased duration in Q3 that we do not expect to repeat in Q4. Please proceed with your question. I think in the U.S. though right now it still feels like mostly business as usual. Thank you and congrats on a very strong finish. If you can you've given us some stats in the past about like payroll penetration into the installed base and learning and things like that. Thank you. I'll address the product -- the product component. There's been a couple of large acquisitions in the HCM space recently. Perfect. The more cloud-centric opportunities favor Workday. I guess if you could share with us kind of if you were since the acquisition if you could tell us kind of the number of customers if you could kind of give that to us on a cumulative basis if you have it. But I think it's a combination of those just to recap medium enterprise totally with you Aneel. We successfully added and integrated more than 1650 net new employees to Workday this year including approximately 150 from the Scout RFP acquisition in Q4 bringing our total employee count at year-end to over 12200. I hope all of you joining us today are in good health and that your families are doing well. Great. In my prepared remarks I mentioned 350 new planning customers for the fourth quarter. Thank you Justin and good afternoon everyone. Also the timing of renewals have an impact, which can move around. Okay. We today to date have not seen an impact to our business so far. This idea of a talent marketplace first internal and then external is one of those areas for us where if you're in a low higher mode as a company, you're trying to get work done. Workday (WDAY) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.47 per share. And then just which areas you're most excited about for FY '21. And I think we haven't seen it in the model in the past. Yes. And as Aneel also mentioned professional business services is becoming another significant one that we're going to start tackling from a go-to-market perspective and product perspective as soon as this year. But is the guidance or the color that you're providing, is it fair to assume kind of a flat margin trajectory, a dip in margins or just a much smaller expansion? But the challenge that we're hearing from execs today is around kind of employee engagement and preserving culture during the pandemic. News; Products. Maybe just the first one for you, Aneel and Chano. We're kind of again shooting for kind of same dynamics into Q4, especially with focus around the pipelines and we are putting or we're doing these investments around sales and marketing that there are not only more and more feet on the street, clearly there is more feet on the street that we're planning on scenarios where we see opportunity for growth, but obviously it's also as well around marketing investments, branding, and so on and so forth to support us in terms of our pipeline and demand generation efforts, especially for next year and as I say the year after, right. You may proceed with your question. Workday Surpasses Q2 Earnings and Revenue Estimates reuters. And then clearly customers taking on to financials and HCM on top. Any plans or update on additional protocols that you plan to work on building out over fiscal '21? But I think some of those are significantly relevant, right. You're really trying to understand the skills you have among the employees, what skills should they need to add with reskilling and learning and how can you source that work that needs to get done from your existing employee basis. So -- yeah, so there are a number of levers I would say in our space of the world. ET Prepared … We expect subscription revenue to sequentially increase from the previous quarter by just under 6% in Q2 approximately 4% in Q3 and 4.5% in Q4. And it's a pretty big bookings number, right, that kind of waterfalls into the out-year. Our next question comes from the line of Brad Zelnick with Credit Suisse. A lot of uncertainties still out there, even though we have seen things stabilize. We added over 100 new Prism customers and over 350 planning customers which includes over 100 on the broader Workday platform. Great. Just maybe a bigger picture question on M&A. So we remain very focused on the -- clearly on the pipeline creation efforts and maturing and we have had great conversion of rates and ratios on these last two quarters, Q2 and Q3. Education and government is another vertical with being quiet for a long time now. Well, I think -- thank you, Josh for your question. We received excellent feedback on the event from our customers and prospects, many of whom mentioned some important takeaways. Are there any costs that are shifting around associated with that? You may proceed with your question. On Dec 15, 2020, Co-CEO, Luciano Gomez Fernandez, executed a sale of 7,345 shares in Workday (WDAY) for $1,627,688. Again as Chano mentioned just very appreciative and proud of Emily and our team and our -- and I'd say our business partners as well who figured out how to get these large customers live during this pandemic. That's really remarkable from a services perspective and as far as I know they're all so very happy. I'm not going to comment on how prevalent they are. So do you mind just taking a moment and just maybe qualitatively reflecting on how seasonality might be changing in fiscal '21 on the revenue growth line? We expect operating cash flow in FY '21 to be approximately $1.08 billion representing growth of 25%. And those conversations are indeed very similar to what they were pre-pandemic and people are very focused on digital acceleration and getting to that future state on the platform side. You may proceed with your question. I hope the idea of installed base selling just continues to get stronger and stronger because we're adding more and more SKUs to the portfolio that we can go back to our customers. But in the meantime, we are focused on building a maturing pipeline, closing deals and successfully implementing and supporting customers, all in a fully virtual way. And finance, we had an excellent quarter selling finance, but I do believe there are some bigger projects that are being held off until post pandemic. There continues to be significant opportunity in the Workday installed base in terms of selling planning into that base as well as penetration both for large enterprise and middle enterprise customers. With that view as a backdrop, let's jump into our Q3 results. The webcast replay of this call will be available for the next 90 days on our company website under the Investor Relations link. I'm very proud of our team who continue to support our customers despite the challenges that persist and remain very optimistic about Workday's post-pandemic future. That was really an outstanding performance. Heather Bellini -- Goldman Sachs -- Analyst. You talk about the kind of investing for growth strategy, which makes a lot of sense given all the things that Chano just mentioned. In addition, backlog benefited from a year-over-year increase in contract duration, which we do not expect to persist in Q4. That's helpful. Is this -- this 14% to 16% subscription backlog growth guidance for Q4, arithmetically I feel like perhaps that's a reasonable starting point on how we maybe could think about subscription revenue growth in fiscal year '22, just given that be the glide path exiting the year. And so you see it in the additional SKUs we're bringing to market, most recent one being the talent marketplace but also the Workday Accounting Center. Matt this is Chano speaking. As we prepare for next year, we are increasing the pace of our sales and marketing investment. Okay. I mean the interest on our partners in terms of enabling training resources both in planning and now in procurement has been increasing significantly. We've taken them to places like the U.K. A lot of the rest of the world is a medium enterprise marketplace so that's a big opportunity. But candidly it was strong across the board. Our final question comes from the line of Alex Zukin with RBC Capital. These statements are subject to risks, uncertainties and assumptions, including those related to the impacts of the ongoing COVID-19 pandemic on our business and global economic condition. First of all Q4 linearity within the quarter was actually more pronounced than what we've seen in FY '20. You'll hear about our general availability fairly soon in the coming quarters. Workday Inc (NASDAQ: WDAY) Q3 2018 Earnings Conference Call Nov. 29, 2018, 4:30 p.m. And it's largely a greenfield opportunity. WDAY earnings call for the period ending January 31, 2019. Yeah. And they are typically coming from an Oracle or an SAP solution. The software maker reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. The call is scheduled to begin at 1:30 p.m. PT/4:30 p.m. And those are really helping customers to navigate the change in these times. That's a huge bank well-respected bank and they were already Workday HR customer. Subscription revenue backlog that will be recognized within the next 24 months was $5.48 billion growth of 22%. Fourth quarter revenue outside the U.S. increased 33% year-over-year to $244 million representing 25% of total revenue. We saw 100 new accounts add Prism Analytics this past quarter which is a really strong showing again for a relatively young new product area. Switching to the people front. Please proceed with your question. As we continue to expand our product portfolio we want to provide investors with increased visibility into the growth vectors across our business. You may proceed with your question. Nov-19-20 06:40PM : Workday Says Software Demand Likely Hurt by Pandemic in 2021. From a margin standpoint, this year we have demonstrated the long-term scalability inherent in our model. For the first quarter we expect subscription revenue to be between $873 million and $875 million representing 25% year-over-year growth. I think we try to always keep an evolution more than a revolution on our go-to-market and it's supporting our growth opportunities. International remains a very big focus for us and we continue to see healthy subscription growth out of the international markets. Thanks for taking my questions. Our press release was issued after close of market and is posted on our website where this call is being simultaneously webcast. Going down market and seeing kind of continued success there selling into the base? Our non-GAAP operating profit for the fourth quarter was $117 million or 11.9% of revenue with a margin overachievement primarily driven by our top line outperformance. Our fourth quarter kept a strong year driven by solid executions across the company. But do you think your partner base is with you at this point? And as I said it's been more an evolution with some strengthening onto the talent that we have in some of the markets we needed to do so. I think it just gives us confidence that if we find the right kind of company that is a good fit culturally, that is a innovative growth company and that's complementary from a technology perspective not overlapping that that is something that we now feel very comfortable. But landing the new accounts is what drives the longer-term growth and durability growth because you need to first land the account before you can sell back into them. Workday Inc (NASDAQ: WDAY) Q4 2020 Earnings Call Feb 27, 2020, 4:30 p.m. Conference Call Participants. Q1 Earnings. Over to you Robynne. So we feel good about what we have in Q4 pipeline and the maturity of part of this pipeline. I guess Aneel when you think about the durability of the growth rate in your HCM business and you think about the tailwinds there maybe even beyond next year but over a longer time duration which is going to add more of a growth tailwind in your mind? And the latest to our financial services where as you say we are seeing some good success with customers like Keybanc and some others on the back of our accounting center solution. Q4 was our best quarter ever. Thanks so much. 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