Workday Announces Acquisition of Adaptive Insights
providers, enterprise resource planning vendors, systems integrators and regional consulting firms. We have been consistently recognized as a leader in the market and were positioned as a Leader in the 2017 Gartner Magic Quadrant for Cloud Strategic Corporate Performance Management Solutions for the second consecutive year.
Additionally, we are positioned as a Leader by Forrester in its most recent Wave on this topic, the 2016 Forrester Enterprise Performance Management (EPM) Wave Report.
We believe that our customers are our greatest asset.
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As of April 30, 2018, we had over 3,800 customers located in more than 50 countries. Our powerful and scalable platform with an intuitive user interface is able to reach across the market spectrum, as low total cost of ownership makes it accessible to small and business, or SMB, and customers.
At the same time, our scalability enables us to serve large enterprise customers. Our solutions have broad applicability across all types of organizations, and our domain expertise in certain verticals enhances our market leadership.
Our mission is to free people to do their best work and to empower teams to better manage their business. We do this in part by eliminating repetitive, manual tasks, enabling people to do higher value, more strategic work.
Because of this, our customers are passionate about how our solutions have transformed their day-to-day jobs.
We initially created our Business Planning Cloud for financial planning and analysis teams.
Over time, our customers have leveraged our platforms flexible modeling capabilities to create solutions to address other use cases specific to their businesses. For example, a global airline extended their use of our platform to analyze route profitability, and a global software company expanded their use of our platform for integrated departmental budgeting and sales quota and capacity planning.
We recently introduced a purpose-built solution for sales planning and analysis targeting sales teams, and we plan to continue to provide new solutions to address additional customer needs outside of finance and sales.
We have experienced significant platform adoption leading to revenue growth in recent periods. For our fiscal years ended January 31, 2016, 2017 and 2018, our total revenues were $61.7 million, $81.8 million and $106.5 million, respectively.
Over the same periods, we had subscription revenues of $49.4 million, $69.7 million and $93.9 million, respectively. Our net losses were $59.1 million, $44.7 million and $42.7 million, respectively, for the fiscal years ended January 31, 2016, 2017 and 2018.
Planning is a Universal, Mission-Critical Function
Every organization plans, from small businesses and nonprofits to government agencies and Fortune 500 enterprises.
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Within organizations, every function plans, including finance, sales, marketing and operations. An effective planning process democratizes participation across an organization, enabling managers to determine strategy, set priorities and allocate resources, while providing a real-time, single source of truth in order to monitor, evaluate and report on performance.
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Leveraging insights from this planning process, companies are able to make timely and better-informed decisions to drive future results.
Businesses Need to Adapt to Dynamic Markets Faster Than Ever Before
The global business environment is increasingly competitive and dynamic.
The fast pace of technological development enables companies to launch and scale quickly, while requiring them to adapt to shortened product cycles and increased customer expectations. At the same time, with advances in technology, organizations of all sizes are now capturing more data than ever before.
Plan for a Changing World
This data, however, is often locked away in siloed applications or systems of record within an organization. The relative speed with which an organization can utilize this data and adapt its plans to changing market dynamics is increasingly important as a competitive advantage.