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Syria's de facto leader says it could take up to 4 years to hold electionsNew 2025 laws hit hot topics from AI in movies to rapid-fire gunsRep.-Elect McBride: GOP Focusing on Trans Issues Is Costing the American Worker
Fiscal Third Quarter Total Revenues of $2.160 Billion , Up 15.8% Year Over Year Subscription Revenues of $1.959 Billion , Up 15.8% Year Over Year PLEASANTON, Calif. , Nov. 26, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money , today announced results for the fiscal 2025 third quarter ended October 31, 2024. Fiscal 2025 Third Quarter Results 1 See the section titled "About Non-GAAP Financial Measures" in the accompanying financial tables for further details. Comments on the News "Workday's solid performance in Q3 reflects the trust our customers place in us across industries, the global momentum around our AI-driven innovations, and the strength of our partner ecosystem," said Carl Eschenbach , CEO, Workday. "Organizations are increasingly consolidating on the Workday platform to reduce total cost of ownership, simplify their operations, and to unlock the power of our best-in-class AI solutions. Workday gives them the ultimate advantage – and that positions our business for long-term success." "In Q3, we once again made good progress across a number of our key growth areas," said Zane Rowe , CFO, Workday. "Looking ahead, we expect fiscal 2025 subscription revenue of $7.703 billion , growth of 17%, and fiscal 2025 non-GAAP operating margin of 25.5%. We are focused on executing in our seasonally strongest quarter, as we lay the foundation for durable, profitable growth at scale." Recent Highlights 1 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises, Ranadip Chandra, Sam Grinter, Ron Hanscome, Chris Pang, Anand Chouksey, Josie Xing, Harsh Kundulli, David Bobo, Laura Gardiner, Hiten Sheth, Emi Chiba, Travis Wickesberg, and Michelle Shapiro, 23 October 2024. 2 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises, Robert Anderson, Denis Torii, Sam Grinter, Naveen Mahendra, Tomas Kienast, Johan Jartelius, 4 November 2024. 3 Gartner Magic Quadrant for Financial Planning Software, Regina Crowder, Vaughan Archer, Matthew Mowrey, Michelle Carlsen, 18 November 2024. Financial Outlook Workday is providing guidance for the fiscal 2025 fourth quarter ending January 31, 2025 as follows: Workday is updating its guidance for the fiscal 2025 full year ending January 31, 2025 as follows: 1 The Company has not provided a reconciliation of its forward outlook for non-GAAP operating margin with its forward-looking GAAP operating margin in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate this non-GAAP financial measure, particularly related to stock-based compensation and its related tax effects, acquisition- related costs, and realignment costs. Earnings Call Details Workday plans to host a conference call today to review its fiscal 2025 third quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 1:30 p.m. PT / 4:30 p.m. ET and can be accessed via webcast . The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 90 days. Workday uses the Workday Blog as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. About Workday Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money . The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com . © 2024 Workday, Inc. All rights reserved. Evisort, Workday, and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders. Forward-Looking Statements This press release contains forward-looking statements including, among other things, statements regarding Workday's fourth quarter and full-year fiscal 2025 subscription revenue and non-GAAP operating margin, growth, momentum, and innovation. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to: (i) breaches in our security measures or those of our third-party providers, unauthorized access to our customers' or other users' personal data, or disruptions in our data center or computing infrastructure operations; (ii) service outages, delays in the deployment of our applications, and the failure of our applications to perform properly; (iii) privacy concerns and evolving domestic or foreign laws and regulations; (iv) the impact of continuing global economic and geopolitical volatility on our business, as well as on our customers, prospects, partners, and service providers; (v) any loss of key employees or the inability to attract, train, and retain highly skilled employees; (vi) competitive factors, including pricing pressures, industry consolidation, entry of new competitors and new applications, advancements in technology, and marketing initiatives by our competitors; (vii) our reliance on our network of partners to drive additional growth of our revenues; (viii) the regulatory, economic, and political risks associated with our domestic and international operations; (ix) adoption of our applications and services by customers and individuals, including any new features, enhancements, and modifications, as well as our customers' and users' satisfaction with the deployment, training, and support services they receive; (x) the regulatory risks related to new and evolving technologies such as AI and our ability to realize a return on our development efforts; (xi) our ability to realize the expected business or financial benefits of any acquisitions of or investments in companies; (xii) delays or reductions in information technology spending; and (xiii) changes in sales, which may not be immediately reflected in our results due to our subscription model. Further information on these and additional risks that could affect Workday's results is included in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law. Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available. Workday, Inc. Condensed Consolidated Balance Sheets (in millions) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,311 $ 2,012 Marketable securities 5,846 5,801 Trade and other receivables, net 1,404 1,639 Deferred costs 244 232 Prepaid expenses and other current assets 273 255 Total current assets 9,078 9,939 Property and equipment, net 1,263 1,234 Operating lease right-of-use assets 335 289 Deferred costs, noncurrent 490 509 Acquisition-related intangible assets, net 383 233 Deferred tax assets 1,031 1,065 Goodwill 3,479 2,846 Other assets 365 337 Total assets $ 16,424 $ 16,452 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 74 $ 78 Accrued expenses and other current liabilities 323 287 Accrued compensation 476 544 Unearned revenue 3,447 4,057 Operating lease liabilities 102 89 Total current liabilities 4,422 5,055 Debt, noncurrent 2,983 2,980 Unearned revenue, noncurrent 64 70 Operating lease liabilities, noncurrent 278 227 Other liabilities 53 38 Total liabilities 7,800 8,370 Stockholders' equity: Common stock 0 0 Additional paid-in capital 11,115 10,400 Treasury stock (1,208) (608) Accumulated other comprehensive income (loss) 16 21 Accumulated deficit (1,299) (1,731) Total stockholders' equity 8,624 8,082 Total liabilities and stockholders' equity $ 16,424 $ 16,452 Workday, Inc. Condensed Consolidated Statements of Operations (in millions, except number of shares which are reflected in thousands and per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenues: Subscription services $ 1,959 $ 1,691 $ 5,678 $ 4,843 Professional services 201 175 557 494 Total revenues 2,160 1,866 6,235 5,337 Costs and expenses (1) : Costs of subscription services 329 264 924 759 Costs of professional services 201 181 606 552 Product development 647 619 1,952 1,829 Sales and marketing 620 538 1,804 1,581 General and administrative 198 176 609 512 Total costs and expenses 1,995 1,778 5,895 5,233 Operating income (loss) 165 88 340 104 Other income (expense), net 62 41 178 114 Income (loss) before provision for (benefit from) income taxes 227 129 518 218 Provision for (benefit from) income taxes 34 15 86 25 Net income (loss) $ 193 $ 114 $ 432 $ 193 Net income (loss) per share, basic $ 0.73 $ 0.43 $ 1.63 $ 0.74 Net income (loss) per share, diluted $ 0.72 $ 0.43 $ 1.61 $ 0.73 Weighted-average shares used to compute net income (loss) per share, basic 265,411 262,153 265,062 260,747 Weighted-average shares used to compute net income (loss) per share, diluted 268,549 266,377 268,936 264,087 (1) Costs and expenses include share-based compensation expenses as follows: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Costs of subscription services $ 35 $ 30 $ 108 $ 90 Costs of professional services 28 29 86 87 Product development 162 162 498 494 Sales and marketing 78 65 226 212 General and administrative 65 63 204 188 Total share-based compensation expenses $ 368 $ 349 $ 1,122 $ 1,071 Workday, Inc. Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cash flows from operating activities: Net income (loss) $ 193 $ 114 $ 432 $ 193 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
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BEIRUT (AP) — Syria's de facto leader said Sunday it could take up to four years to hold elections in Syria, and that he plans to dissolve his Islamist group that led the country's insurgency at an anticipated national dialogue summit for the country. Ahmad al-Sharaa, who leads Hayat Tahrir al-Sham, the group leading the new authority in Syria, made the remarks in an interview with Saudi television network Al-Arabiyya. It comes almost a month after a lightning insurgency led by HTS overthrew President Bashar Assad's decades-long rule, ending the country's uprising-turned civil war that started back in 2011. Al-Sharaa said it would take time to hold elections because of the need for Syria's different forces to hold political dialogue and rewrite the country's constitution following five decades of the Assad dynasty's dictatorial rule. Also, the war-torn country's battered infrastructure needs to be reconstructed, he said. “The chance we have today doesn’t come every 5 or 10 years,” said al-Sharaa, formerly known as Abu Mohammed al-Golani. “We want the constitution to last for the longest time possible.” Al-Sharaa is Syria's de facto leader until March 1, when Syria's different factions are set to hold a political dialogue to determine the country's political future and establish a transitional government that brings the divided country together. There, he said, HTS will dissolve after years of being the country's most dominant rebel group that held a strategic enclave in the country's northwest. Earlier, an Israeli airstrike in the outskirts of Damascus on Sunday killed 11 people, according to a war monitor, as Israel continues to target Syrian weapons and military infrastructure even after the ouster of Assad. The Britain-based Syrian Observatory for Human Rights said the airstrike targeted a weapons depot that belonged to Assad’s forces near the industrial town of Adra, northeast of the capital. The observatory said at least 11 people, mostly civilians, were killed. The Israeli military did not comment on the airstrike Sunday. Israel, which has launched hundreds of airstrikes over Syria since the country's uprising turned-civil war broke out in 2011, rarely acknowledges them. It says its targets are Iran-backed groups that backed Assad. Unlike his criticism of key Assad ally Iran, al-Sharaa hoped to maintain “strategic relations” with Russia, whose air force played a critical role in keeping Assad in power for over a decade during the conflict. Moscow has a strategic airbase in Syria. The HTS leader also said negotiations are ongoing with the Kurdish-led Syrian Democratic Forces in northeastern Syria, and hopes that their armed forces will integrate with the Syrian security agencies. The Kurdish-led group is Washington’s key ally in Syria, where it is heavily involved in targeting sleeper cells belonging to the extremist Islamic State group. Turkish-backed Syrian rebels have been clashing with the SDF even after the insurgency, taking the key city of Manbij, as Ankara hopes to create a buffer zone near its border in northern Syria. The rebels attacked near the strategic northern border town of Kobani, while the SDF shared a video of a rocket attack that destroyed what it said was a radar system south of the city of Manbij. In other developments: — Syrian state-run media said a mass grave was found near the third largest city of Homs. SANA said civil defense workers were sent to to the site in al-Kabo, one of many suspected mass graves where tens of thousands of Syrians are believed to have been buried during a brutal crackdown under Assad and his network of security agencies. — An Egyptian activist wanted by Cairo on charges of incitement to violence and terrorism, Abdulrahman al-Qardawi, was detained by Lebanese security forces after crossing the porous border from Syria, according to two judicial and one security officials who spoke on condition of anonymity because they were not authorized to to talk to the press. Al-Qardawi is an Egyptian activist residing in Turkey and an outspoken critic of Egypt's government. He had reportedly visited Syria to join celebrations after Assad's downfall. His late father, Youssef al-Qaradawi, was a top and controversial Egyptian cleric revered by the outlawed Muslim Brotherhood. He had lived in exile in Qatar for decades. — Lebanese security forces apprehended an armed group in the northern city of Tripoli that kidnapped a group of 26 Syrians who were recently smuggled into Lebanon, two Lebanese security officials said on condition of anonymity because they were not authorized to share the information with the media. The Syrians included five women and seven children, and security officials are working to return them to Syria.None
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The cryptocurrency market is a treasure trove of opportunities for those ready to invest in its game-changing projects. As 2024 approaches, keeping an eye on the best cryptos to watch is essential for any investor. Qubetics, a rising star with revolutionary ideas, leads alongside seasoned blockchain giants like Solana, Cardano, Avalanche, Polkadot, and Near Protocol. Here's why these six will dominate the crypto conversation in the coming year. 1. Qubetics: Transforming Blockchain with Innovation Qubetics is much more than a blockchain network; it’s an entire ecosystem addressing critical issues in Web3. One standout feature in its roadmap is the introduction of a decentralised VPN (dVPN). Unlike traditional VPNs that operate under centralised control, the Qubetics dVPN is powered by blockchain technology, ensuring complete decentralisation. This means: True Privacy : Your internet data and browsing activity are entirely shielded from centralised oversight or logging. 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If the price rises to $15, that same investment would be worth $652,000 , delivering a 65,000% ROI . Qubetics'the best cryptos to watch ,is a rare gem, offering technological innovation and unprecedented financial potential. 2. Solana: Speed and Efficiency in Blockchain Solana remains a trailblazer in blockchain performance, offering unmatched transaction speeds and ultra-low fees. Built for scale, Solana handles thousands of transactions per second, making it a favourite among developers building DeFi platforms, NFT marketplaces, and blockchain-based games. Solana's Proof of History (PoH) consensus mechanism sets it apart, which ensures seamless scalability without sacrificing decentralisation. As more projects migrate to Solana for its efficiency, it remains one of the best cryptos to invest in for long-term growth. 3. Cardano: Sustainability Meets Innovation Cardano has established itself as a pioneer in sustainability and academic rigour within the blockchain sector. 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Its Nightshade sharding technology ensures high throughput, while its low fees attract developers building high-volume applications. Near Protocol’s focus on Web3 and its expanding ecosystem make it one of the best cryptos for forward-thinking investors. Final Thoughts The crypto landscape is evolving at breakneck speed, and these six projects are at the forefront of innovation. For investors looking to maximise their gains in 2024, Qubetics stands out as the best cryptos to watch with its incredible ROI potential and groundbreaking dVPN technology. Meanwhile, established players like Solana, Cardano, Avalanche, Polkadot, and Near Protocol continue to shape the future of blockchain. The key to success in crypto is acting early, and these projects represent some of the best opportunities to capitalise on the next wave of blockchain breakthroughs. Don’t wait—2024 could be the year these cryptos transform your portfolio! Qubetics: https://qubetics.com Telegram: https://t.me/qubetics Twitter: https://x.com/qubetics Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.