With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

The 300 companies on this year’s list brought in over $12.5 trillion in revenue for the latest 12 months, with the median revenue figure at $24 billion.

America's Most Innovative Companies

AI is a major force shaping this year’s list—but it’s far from the only story.

World's Most Admired Companies

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

The 300 companies on this year’s list brought in over $12.6 trillion in revenue for the latest 12 months, with the median revenue figure at $22 billion.

Leaders in all industries rely more than ever on Big Tech—and appreciate the giants that deliver, at scale, without drama.

Industries included in the sector are computers, internet services, IT services, semiconductors, and software companies.

Fortune Sector Leaders: Technology

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The 26th edition of the list shows how much esteem Big Tech giants command among other business leaders.

The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

This year’s Fortune 500 marks the 68th running of the list.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

Resilience and the capacity for reinvention have never been more important.

Future 50-2021-Workday

The Future 50

This year’s Fortune 500 marks the 67th running of the list.

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

Our 2020 list of the 100 best companies as ranked by their employees. See which companies made the list.

Fortune 100 Best Companies to Work For

This year's list of best workplaces in technology value people, not just as employees, but as humans.

Best Large Workplaces in Technology 2020-Workday

Employees say: 
“Culture, from the top down, is awesome. Executives through individual contributors mean what they say and say what they mean. Everyone is given ample opportunities and is encouraged to explore roles and take training that are of interest to them.” 
Read Great Place to Work review .

Best Large Workplaces in Technology

The 35 companies highlighted on this year's list promote growth, transparency, and diversity in the workplace.

Workday_Best Large Workplaces Bay Area 2020

Employees say: 
 
"The firm shows respect and appreciation for everyone regardless of "level" or "status." it's a place that cares very much about creating a culture of belonging and shared contributions and investments." 
 
Read Great Place to Work review .

Best Large Workplaces in the Bay Area

Explore this year's ranking of the 50 companies with the best long-term growth potential.

Future 50-2020-Workday

A dominant force in cloud-based programs for HR management and financial planning, Workday’s reach belies its size. Though it brought in a relatively modest $3.6 billion in revenue in 2019, its customers employ some 45 million people worldwide. Workday’s sales rose 29% last year, and analysts anticipate continued growth as the company expands its suite of tools. Another promising project: helping corporate clients take part in “talent marketplaces” that connect displaced workers with new positions.

This year's Fortune 500 marks the 66th running of the list.

Here are the World's Most Admired Companies for 2019 as ranked in their industries. See who made the list.

Our 2019 list of the 100 best companies as ranked by their employees. See which companies made the list.

Companies on this year's list earned national recognition in at least five different countries worldwide—and as many as 33 countries.

World's Best Companies 2019-Workday

World’s 25 Best Workplaces

Fortune's proprietary methodology allows us to zero in on the 50 global firms that are best poised to deliver—and continue delivering—above average gains.

At the Best Workplaces for Women, company leaders foster mentorship and career growth.

Workday-Best Large Workplaces for Women 2019

An employee says: 
 
"It's the first company I've worked at where I feel senior leadership acts with integrity and I trust them to make the right decision. I'm also extremely proud of the number of women in leadership roles, especially where they're not always found." 
 
Read the Great Place to Work review .

100 Best Large Workplaces for Women

This year's Fortune 500 marks the 65th running of the list.

We surveyed tens of thousands of young employees to create this list of millennials’ favorite workplaces.

Workday-best workplaces millennials 2019

Employees say: 
“Workday is invested in growing young talent and helping you find the career path that you love. I've moved departments and teams multiple times since I've been here and I've had a say in what i'm interested in all long the way.”

100 Best Large Workplaces for Millennials

Our 2018 list of the 100 best companies as ranked by their employees. See which companies made the list.

Welcome to the inaugural Fortune Future 50, our new ranking of companies best positioned for breakout growth.

This year's Fortune 500 marks the 64th running of the list.

Best Large Workplaces for Women 2018-Workday

Employees say: 
 
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"Workday takes its commitment to employees seriously. For instance, through internal discussions about how Workday can be a leading employer for women, they unrolled a new paid parental leave policy that far outstrips what most U.S. employers offer." 
 
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Read the Great Place to Work review .

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Employees say: 
 
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"It’s incredibly atypical for an organization of this size to have such a high-trust environment and be able to sustain it. There is a mentality that 'we didn't hire smart people to tell them exactly what to do' I so appreciate." 
 
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"The lights in the building are on a timer that goes off at 6pm, which I have always found to be so incredible. At my previous job at a major tech company, 6pm was what 3 or 4pm here is and the auto-shut off happened at 8:30pm. If I'm ever working late, I'm always so encouraged when those lights go off at 6pm because it feels like Workday as a whole is reminding me that its time to leave--reiterating the importance of work-life balance and ensuring I'm not burning out. I think that small action of a self-timed light panel has made such a massive impact on my perception of this company and how it cares for its employees." 
 
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Our 2017 list of the 100 best companies as ranked by their employees. See which companies made the list.

Fortune’s annual list of the 100 Best Workplaces for Women highlights companies with generous benefits, flexible schedules, and an emphasis on balancing work and life. 

Best Workplaces in the Bay Area 2017- Workday

Employees say: "We are truly a 'team'—anyone here will drop what they are working on to help you, and people share information willingly. We all have a common goal of providing the best product with the best service; everyone here lives and breathes that common goal." 
 
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"Individual accomplishments are encouraged and rewarded, but then the sharing of those ideas is a consistent part of the culture. With this approach, I feel that I am appreciated for new thoughts and ideas while not feeling the need to protect my IP." Read the .

best workplaces for millennials 2017 Workday

Employees say: 
 
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"I came to Workday on the technology side from a non-traditional background, expecting to meet resistance and challenges given my past experience. But, I was met with the exact opposite. My coworkers are ultra supportive and open, will drop everything at any given time to answer questions or brainstorm solutions, and constantly motivate me to keep learning. Everyone is passionate about their work and my manager takes a very active role in ensuring my continued success and development. When I come into the office, I just feel happy and thankful to be here. The mood is very cheerful and yet focused and determined on delivering quality products. I consider my coworkers to be my friends. I can't imagine working anywhere else." 
 
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"I have been given opportunities and promotions based solely on my performance and merits and potential, despite the fact that I do not have a lot of experience. At Workday, if you prove you can do the job, you'll be given the chance in most cases even if you aren't the smartest, most educated, or most experienced person on the team. They will pick the person they truly think is best for the project or role, not the person who thinks they deserve it because they've been here the longest. It's been a great thing for me. I've been able to achieve a lot very quickly, which keeps me motivated to keep achieving." 
 
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Google/Alphabet is the No. 1 place to work for the seventh time in 10 years. Six newcomers include Veterans United at No. 30, Hilton Hotels at No. 56, and Slalom Consulting at No. 100. IKEA’s U.S. arm returns to the list, along with GoDaddy and Sheetz.

Fortune’s second annual list of the 100 Best Workplaces for Women highlights companies with generous benefits, flexible schedules, and an emphasis on balancing work and life. 

100 best workplaces for women 2016- workday

Employees say: 
&nbsp; 
"This is THE best company I have ever worked for. They are always thinking of employees and what is right. They really try to make a day at Workday not your ordinary workday. From bringing your dogs to summertime Monday Fundays with a variety of outdoor activities, to all of the events for employees and their families like Bring Your Kids, Bring Your Parents, Bring Your Teens and our company picnic. This year it was a carnival, and I have never seen so many smiling happy faces. I have never worked for a company that is so generous." 
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"Workday is fun, energetic company to work for—very dynamic in a constant state of positive change to create improvements. The company supports autonomy and empowers you to lead, make, and own your decisions." 
&nbsp; 
Read the Great Place to Work review .

The second annual ranking of the best employers for workers 35 and under.

best workplaces for millennials 2016- Workday

"The sense of community at Workday is amazing. Whether it be seasoned developers or fresh out of college young professionals, we all collaborate at a pace that works for everyone. The playing field is flat and allows new developers to work with experienced developers without feeling out of place. I feel my team and my manager are truly dedicated to helping one another individually and collectively to accomplish our goals with time to spare—which usually goes towards something fun!" says one millennial employee. 
 
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Says another millennial: "The company puts a large emphasis on fun and flexibility. I have an amazing work life balance. I can spend time with my family and pursue other goals and ambitions outside of work. I have a lot of autonomy in my work so I don't have to be tied to my office 10 hours every day. As a young person work life balance is very important to me, and I feel blessed to have this privilege working at Workday." 
 
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Read the .

This year’s list marks Fortune's 18th year of partnering with Great Place to Work. Google ranks No.1 for the sixth time, and 16 new companies make impressive debuts, including Acuity (No. 3), Twitter (No. 24), and Riot Games (No. 13).

The inaugural list of the 100 Best Workplaces for Women from our partners at Great Place to Work includes the wealth management firm TrueWealth at No.1, hospital system Texas Health Resources (No. 3), and Build-A-Bear Workshop (No. 10). Rankings were determined by employee surveys and the representation of women within the organizations.

BEST COMPANIES 2015  Workday

HR tech services company Workday has over 3,000 employees, of which 37% are women. Nearly 40% of executive titles are held women, while 46% of management positions belong to women, too. "Workday is a special place," one employee said. "Our products are technologically superior, our executive team members are seasoned veterans, our colleagues are extremely competent and our corporate culture is one of high ethics and extraordinary fun." .

The inaugural list of the 100 Best Workplaces for Millennials from our partners at Great Place to Work includes surprising newcomer Power Home Remodeling, making an impressive debut at No. 1. Other standouts include Chili’s Grill and Bar (no. 11), Elevation Church (No. 34), and Yelp (No. 41).

Workday, founded by a co-founder of PeopleSoft, offers its employees (called “workmates”) no annual limit on time off, as well as the opportunity to participate in a work exchange program that would send them to Dublin or Munich. This maker of cloud-based human resources software has made sure its own humans are happy. <a style="color:#ff0000;" href="http://us.greatrated.com/workday">Read the Great Place to Work review.</a>

Perks

100% health coverage

Unlimited sick days

Telecommuting

Job sharing

Subsidized childcare

Compressed work weeks

Fully-paid sabbaticals

On-site fitness/subsidized gym

On-site medical care facility

Non-discrimination policy includes sexual orientation

Health insurance for part-timers

Sick days for part-timers

College tuition reimbursement

Student loan debt repayment

Medical facility at all locations

Paid Time Off

# Sick days

Compensation

Most common job (for salaried employee)

Hiring/staffing (past 12 Months)

Full-time and part-time job growth

# of job applicants

Avg. # of applicants per opening

# New graduates hired

Company Info

Industry

Founded

HQ Location

Sites

Worldwide Employees

Worldwide Revenue

Last Year Rank

Web Address

Date info provided (companies may opt to keep some data confidential)

Millennials In The Organization

# of millennial employees

Millennials as % of total workforce

Women In The Organization

% of Women in Management (non-Executive)

% of Women in Executive/Manager Positions

Future 50

Overall Score

Sector

Current All-Star Rank

Previous All-Star Rank

Industry Rank

Previous Industry Rank

Innovation

People Management

Use of Corporate Assets

Social Responsibility

Quality of Management

Financial Soundness

Long-Term Investment Value

Quality of Products/Services

Global Competitiveness

Strongest Dimension

Years on list

Previous rank

State

Key Financials (last Fiscal Year)

Revenues ($M)

Profits ($M)

Assets ($M)

Total Stockholder Equity ($M)

Profit Ratios

Profit as % of Revenues

Profits as % of Assets

Profits as % of Stockholder Equity

Earnings Per Share (last Fiscal Year)

Earnings Per Share ($)

EPS % Change (from prior fiscal year)

EPS % Change (5 year annual rate)

EPS % Change (10 year annual rate)

Total Return

Total Return to Investors (last year)

Total Return to Investors (5 year, annualized)

Total Return to Investors (10 year, annualized)

Workday provides software that helps organizations manage financial operations, human capital, spending, and expenses, along with tools for workforce planning, reporting, and automation. Founded in 2005 and headquartered in Pleasanton, Calif., the company also offers industry-specific solutions for health care, education, and government, as well as developer tools like Workday Extend and AI features through Workday Illuminate.

Q2 2027

Q1 2027

Q4 2026

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

Workday (WDAY): Company Profile, Stock Price, News, Rankings

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Workday

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Ladies and gentlemen, welcome to Workday's second quarter fiscal year 2027 earnings call. At this time, all participants are in a listen-only mode. We will conduct a question and answer session towards the end of the call. During the Q&A session, please limit your questions to one. I will now hand it over to Justin Furby, Vice President of Investor Relations. Please go ahead.

Thank you, operator. Welcome to Workday's second quarter fiscal 2027 earnings conference call. On the call, we have Aneel Bhusri, our CEO, Gerrit Kazmaier, our President, Product and Technology, Gabe Monroy, our Chief Technology Officer, Rob Enslin, our President and Chief Commercial Officer, and Zane Rowe, our CFO. Following prepared remarks, we will take questions. Our press release was issued after close of market and is posted on our website, where this call is being simultaneously webcast. Before we get started, we want to emphasize that some of our statements on this call, particularly our guidance, are based on the information we have as of today and include forward-looking statements regarding our financial results, applications and solutions, customer demand, operations, and other matters. These statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially.

Please refer to the press release and the risk factors in documents we file with the Securities and Exchange Commission, including our fiscal 2026 annual report on Form 10-K, for additional information on risks, uncertainties, and assumptions that may cause actual results to differ materially from those set forth in such statements. In addition, during today's call, we will discuss non-GAAP financial measures, which we believe are useful as supplemental measures of Workday's performance. These non-GAAP measures should be considered in addition to, and not as a substitute for or in isolation from GAAP results. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP results, in our earnings press release, in our investor presentation, and on the investor relations page of our website.

The webcast replay of this call will be available for the next 90 days on our company website under the investor relations link. Additionally, the prepared remarks of this call and our quarterly investor presentation will be posted on our investor relations website following this call. Our third quarter fiscal 2027 quiet period begins on October 15, 2026. Unless otherwise stated, all financial comparisons in this call will be to our results for the comparable period of our fiscal 2026. With that, I'll pass the call to Aneel.

Thanks, Justin. Thanks, everyone, for joining us today. It is hard to believe I have been back in the CEO seat for six months. Time flies when you are having fun, and I am having a lot of fun. This is a fun time to be back in the tech industry. Q2 was another strong quarter, and AI played an increasingly bigger role. AI products alone drove more than $100 million of new ACV, which accounted for more than 25% of all new ACV closed in the quarter. It is starting to lift our core business too, including our win rates. We had commercial success with AI in the quarter, including strong early returns with Flex Credits, and we expect this to accelerate going forward. What I am watching more closely is adoption. Today, more than 5,500 customers are using one or more of our organic agents.

That is up more than 35% from last quarter. As we continue to build organic agents on Workday, we are also deeply integrating acquired agents like those from Paradox, HiredScore, and Evisort into our platform. We have signed some of the world's largest brands to our Lighthouse program, which gives strategic customers Sana Enterprise free for a year. We rolled it out to our own workmates last month, and they are hooked. I expect these customers will be too, and we know that if we deliver the value, monetization will follow. After two strong back-to-back quarters, I really like the momentum we have going into the second half of the year. Gerrit and our product and technology teams have our innovation engine humming again, while Rob and his team have done a phenomenal job building pipeline that will drive more new business.

They will cover the numbers shortly, including the impact of AI adoption on our outlook for the second half and fiscal year 2028. I spent much of the past six months with customers. Last quarter, I told you I had not met a single customer who is looking to replace Workday with something they are building internally or buying from a startup. A quarter later, that has not changed. The reason is the deterministic rails I have talked about before. Our agents are lawful. They work inside the permissions, policies, and business processes a company already runs on. That is why our customers can trust them with the work that matters, and it is why we are seeing our organic agents really take off this year. One of those customers is BMO, a top 10 bank in North America.

They piloted Self-Service Agent with 500 employees in May and successfully rolled it out to all 55,000 employees in June. SSA gives BMO employees and managers a personal, intuitive way to get HR questions answered and work done faster and easier. Because it is native to Workday, the agent understands employee permissions and which HR policies apply to them. That built-in context is exactly what makes this a responsible and scalable AI deployment for BMO. BMO is one of many. More customers are moving from pilots to production with our agents. We know that no one company will build every agent. The future will be open, and CIOs need a trusted platform to connect it all. We are building for that world with Data Cloud and Developer Agent. Data Cloud lets customers use their Workday data alongside the other systems they run on without copying or moving it.

Customers see the value, and demand is building. Developer Agent, which we announced at DevCon in June, makes it dramatically faster and easier for developers to build on Workday using natural language. It is one of the innovations I am most excited about. I will add just one thing because I do not think it is fully understood. Workday is not just an enterprise apps company. We are an enterprise context platform, and we were built that way from the start. Agents need context to do anything useful. Who reports to whom, what the policies are, how money moves. So whether a customer runs our agents or builds their own on top of Workday, we win either way. Gabe will go deeper on this shortly. Finally, Rising is coming to Las Vegas, October 12th through the 15th.

I have to tell you, Gerrit and his team have walked me through our Rising announcements, and I was blown away by how much innovation we have to show. Not slides, live demos and customers talking about the work our agents are already doing inside their businesses. That is the proof I care about most. We will also be hosting our Financial Analyst Day at Rising, and I hope to see you all there.

To close, as many of you know, I am an unabashed optimist, but I am not leaning on optimism here. We are shipping AI products. Our customers are adopting them rapidly, and it is happening across the board, from the agents we built ourselves to the ones we have acquired. This is Workday's moment, and I have never felt better about where we are headed. With that, I will hand it to my Vulcan mind-meld friend, Gerrit.

Thanks, Aneel, and hello, everyone. in Q2, once again, we have accelerated our roadmap and added new AI capabilities across our platform. All of it builds on our unique world model of work, and we keep moving more agents into production at scale. So let me put this into numbers for you. Nearly $600 million in ARR from our AI SKUs, and that is up more than 200% year-over-year and up over 20% from last quarter. Here is what this looks like in practice. In recruiting, more than 30 million candidates interacted with our talent acquisition agent, and the AI automatically scheduled more than 8 million interviews last quarter alone. In functions like procurement and legal, Workday Contract Intelligence Agent drove nearly 70% year-over-year growth in agreements processed. And in HR case resolution, more than 100 customers moved Sana Self-Service Agent into production last month.

Since February, we have nearly doubled AI tools and skills in the agent that run in production. So now let us talk about three key innovation highlights from last quarter: Sana, Adaptive Decision Intelligence, and our deployment and adoption agents. Let us talk about Sana Enterprise first. Sana Enterprise is our AI workbench for HR, finance, and IT to build, orchestrate, and run AI across the entire enterprise. In Q2, we have shipped 23 new capabilities in Sana that open up what customers can do with it. For example, our brand new Sana Agent Builder lets any user create an agent in natural language and then run it on a schedule or trigger it on a business event. Every one of those agent runs in a secure sandbox. We now have one shared agent task inbox in Sana, where work is managed in one place, human or AI.

We have added custom MCP connectors, so Sana can connect to any third-party application out there. This innovation, it is already changing AI adoption inside and outside of Workday. Here is what we have done. We rolled out Sana Enterprise internally on August 4 and already have 12,000 active users on it. These workmates have built 22,000 custom agents in three weeks alone. This is what AI looks like when it is embedded into real work. We have also brought Workday Learning and Sana Learn together into one product. It is in GA now with a learning admin agent, AI-based course generation, an AI tutor for self-paced learning, and MCP support as part of our open platform. The results are clear. In Sana, monthly active users grew almost 190% year-over-year, and 78% of all published courses were created with AI.

We are taking the next major step with Sana for Workday. As we have shared in the past, Sana is our vision for an AI-driven work experience across Workday and beyond. With our unique meta-driven platform, we can now unlock all Workday processes through generative UI in Sana. So by Workday Rising in October, Sana's conversational AI experience will be the default home screen for Workday. The second big AI innovation is Decision Intelligence. As you know, frontier models are good at analyzing data, but they sit on the sidelines of the operational system. They are detached from business semantics, they are working off downloaded spreadsheets, and they are unable to close the loop back to where work actually happens. Adaptive Decision Intelligence is different.

It is our AI agents for analytics and planning that runs analysis, generates plans, and takes governed action directly inside Workday, always under our security model, audit trails, and governance rules. On July 31, Adaptive Decision Intelligence entered into GA, and this was one of the fastest products we have ever delivered, from concept to general availability in four months, and it is built organically within Workday. Here is what we have shipped, all AI agent-based. Live analysis of plan data, scenario modeling, sensitivity analysis, regression models, version comparison, and AI recommendations that you can submit as governed plan updates with approval, audit trails, and staleness detection. As of today, 170 customers have already purchased it, and one EA customer told us it gives finance teams answers they can actually defend. We are not stopping here.

We just kicked off the early adopter program connecting Adaptive Decision Intelligence directly into Workday Finance to give it access to journal lines, plan data, and to our accounting center. Our customers can now tie AI to financial outcomes with transaction-level evidence. Next, we are going to move this to workforce analytics, connecting live people data with financial decisions in one AI agent experience. Our third AI highlight for this quarter is Deployment and Adoption Agent. Deployment Agent momentum has been dynamite. As of today, we have more than 4,600 customers, almost 24,000 users, and query volume searching nearly 500% in Q2. Mohegan Gaming is now live, and Mohegan says the downstream impact is priceless. Deployment Agent deploys updates so rapidly that employees remain focused on their core business. Our long-term target is to reduce deployment task time with this agent by 80%-90%.

Once customers are live, Adoption Agent helps keeping them ahead of what's new. It surfaces the releases that matter and recommends the next step for their environment. Adoption Agent entered GA just last week. We had more than 200 customers signed on in the first three days alone, with 20,000 release notes evaluated and achieved a 94% customer satisfaction rate. One customer, SolutionHealth, used Adoption Agent on their latest release. They ran it across every functional area, and they've cut that release time down by 70%. Here is why this matters so much. Faster deployments, faster adoption, and a lower cost to serve are fueling Workday GO's momentum in the medium enterprise. Workday GO's win rates and deal volume are both increasing in Q2. Here is one more note for you.

Travel Agent and Sana for ITSM have both moved into early adopter with the first customers already boarded. The bottom line of this is this: The Evolved Model of Work is not a thesis. It is in production, it is compounding, and you can see it in the numbers. A key part of this question is our open platform strategy, unlocking the power of Workday for our customers and for the entire ecosystem around us. I'm going to pass it to our very own Gabe Monroy, Workday CTO and the leader of our technology platform, to share our progress here. Gabe, take it away.

Thanks, Gerrit. It's good to be here. Building on what Aneel said, it's almost as though Workday was built for AI 20 years ago. Having one data model, one security model, one version for every customer from the start is an incredible advantage, and it's a big reason why I came to Workday. Over the last several years, we modernized that foundation to handle the complexity of running AI at scale. We built tools that can query Workday using industry-standard analytic solutions and an MCP layer, so AI models can talk to our APIs in natural language. But access is only half of it. The stakes are different in the world of people and money. That's why we've updated our security model and built the Workday Agent System of Record, so our agents act with the same permissions, rules, and controls our customers already trust.

An agent isn't just a model, it's identity, permissions, guardrails, logs, and governance all working together. That's what separates a lawless agent from a lawful one. A lawless agent will attempt to take action on its own. A lawful agent takes action because the system allows it. Inside Workday's deterministic rails, every step is checked against the security model, the business process framework, and the compliance logic before it runs. In Q2, we advanced our platform strategy in three ways, making it more open, extensible, and lawful. Starting with being open. CIOs aren't going to settle for a single rigid AI stack, so we built Workday with three paths in. Developers building custom agents on their own AI stacks need safe, governed access to Workday, both for querying data and for taking action.

Data Cloud gives external agents and partners like Snowflake, AWS, and Google zero-copy access to HR and finance data. In Q2, we closed six deals with all customers choosing our premium Data Cloud Pro edition. Data Cloud remains on track for GA in Q3. At DevCon, we launched agent ready tools over MCP. These agent APIs allow third-party agents on any stack to safely get work done inside Workday, like updating an employee record or approving an invoice without breaking corporate rules. Agent ready tools are now available to early adopters through Workday Extend Pro with GA in Q3. Today, more than 1,600 customers use Workday across third-party services like Teams and Slack, as well as Copilot and Gemini, which we added in Q1. Over 100 of those customers are already leveraging Self-Service Agent directly in the tools they use every day.

Whether a manager approves spend or logs an expense right in chat, the underlying policy checks and compliance stay securely anchored inside Workday. Some work simply outgrows a chat bubble. Travel and ITSM, which Gerrit mentioned earlier, those need a canvas. That work lands in Sana, where we own both the reasoning engine and the experience. Whether a customer uses their own agent, uses our agents with their own front door, or Sana, we meet them wherever they work. Because all of it runs through Flex Credits, we monetize every action happening on our rails, regardless of the path. In Q2, custom apps built on Workday Extend grew over 90% year over year, even when building required specialized engineers. Our new Developer Agent removes that bottleneck. Now, builders can generate policy compliant workflows using plain language directly inside tools like Cursor, Codex and Claude Code.

This takes development time from weeks to minutes and opens up the platform to all builders. Customer uptake was instant. Developers have built more than 3,000 custom apps and agents since DevCon. As we expand these plain language tools across our user base, we fundamentally shift our business model. You don't have to be an engineer to build on Workday.

Finally, none of this matters if the transactions are not lawful. In Q2, we launched Agent Passport. It gives security teams a verified, auditable record that an agent was tested against critical risks before it deployed and is monitored after. Cisco joined as a launch partner, bringing Cisco AI Defense to test agents against leading standards and protect them in production. We'll add more security partners and attestation stamps in coming months, giving CISOs the confidence required to route higher value work through Workday. In short, our customers can work where they want, build in plain language, and trust every execution. With that, I'll hand it to Rob.

Thanks, Gabe, and hello, everyone. Our customers trust Workday with the most important parts of their business, and we see it in the field every day. Companies on legacy HCM and ERP systems are realizing they cannot get value from AI without modernizing their core. They want one platform they can trust with security and reliability, which is a big driver behind the demand for Sana Enterprise. AI is amplifying the value of the software stack customers already trust. You can see those tailwinds in our Q2 results. With more than 65% of the Fortune 500 running on Workday, we continue to bring on some of the world's leading brands. In Q2, we formed new relationships with companies such as KPMG US, Danske Bank, BWX Technologies, and Guidehouse. In medium enterprise, as you heard from Gerrit, Workday GO is taking off. Customer volume increased more than five times over Q1.

Across large and medium enterprises, AI is a key reason companies are modernizing their core on Workday. In fact, over half of our net new wins in Q2 signed up for one or more AI solutions, and we are seeing even faster AI adoption across our base as customers leverage our unmatched HR and finance context to truly unlock the value of AI in the enterprise.

Genesis Financial Solutions is using our new Financial Audit Agent. The chief accounting officer described it as the first step toward the dream of getting a touchless audit. Seminole Hard Rock Support Services is using Payroll Agent to automate complex tax and compliance calculations for 28,000 employees. Crestline Investors, one of our first 20 customers back in 2007, added Sana Enterprise to power an AI layer over the employee experience. This builds on the other AI agents they recently added, including Recruiting, Contract Intelligence, and Planning.

Sana Enterprise had an exceptional launch in Q2. New customers included AstraZeneca, Novartis, Caterpillar, and Delivery Hero Group. Since we combined Sana Learn with our core learning management system, we have seen a sizable jump in our overall learning business, which more than tripled quarter-over-quarter. Adaptive Decision Intelligence helped drive strong performance across the entire planning business, and our ecosystem is moving fast with it. Partners have helped build more than 100 industry-specific use cases in a little over a month. In late May, we made Sana for Workday and Sana Self-Service Agent available to all our customers on our AI terms of service. That drove a surge in the number of customers that have signed our Universal Main Subscription Agreement, which gives them access to our agents and our AI capabilities. That strategy clearly worked.

More than half of our customer base has already migrated to the UMSA, and that momentum is accelerating. Our focus now shifts to driving adoption through Flex Credits. We have already signed 200 customers this quarter, and we expect to significantly grow that number in the second half as R2 adds more GA agents and expands our platform and Data Cloud capabilities. We continue to see strong execution across the globe. North America, our largest market, had an exceptional quarter, anchored by U.S. large enterprise and another strong quarter in Canada. EMEA drove solid growth with strong performance in France, Germany, and the Nordics. AI now accounts for nearly one-third of new ACV in EMEA. Japan also had a standout quarter, further proof that our continued investment there is paying off. I am proud of the results our teams delivered across the business in Q2.

Let me close where I started, with trust. For more than 20 years, organizations have trusted Workday with their most critical work and now with their AI. That's a durable advantage, and it sets us up for an even stronger second half. Now over to Zane.

Workday (WDAY) Q2 2027 Earnings Call Transcript

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