Workday Inc at Barclays Global Technology Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : <_ALACRA_META_ABSTRACT>Yeah. No, exactly. Yeah. No, that sounds good. And let's start with the core business. Like talk a little bit about the opportunities you're seeing there? And kind of what do you think in terms of innovation to kind of capture some of that opportunity?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. And then if you look at the product -- or the core products, is there anything on the technology platform that you think you want to change? Or like, I mean, Workday started obviously later than a lot of the bigger ups guys, they are more modern. But if you look at the platform, is there anything you're kind of thinking?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : No. I meant to say that. Yeah, yeah. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 9:55PM, WDAY.OQ - Workday Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. Okay. Makes sense. And then I don't know how much Justin briefed you, but like on our side --

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. On the investor side, there's like this big debate going on about what's going to happen to these big system of records in this new AI world? What's the future of SaaS? How do you -- like you're more a technologist, like how do you think about that debt debate? And what's the situation you see for Workday there as well?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : I wanted to stay on that data comment you made. We just had Salesforce on earlier, and we had Ali from Databricks yesterday.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, we had them all. What was interesting is like the importance of data came up again and again. And especially like you guys sit on a treasure trove of information that kind of keeps growing. And you said you wanted to be open as well -- we wanted to be open, but kind of maybe talk about that importance of data, what you do with data? How you enable your customers to work better with the data as a kind of a way to --?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : What did you say?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Accuracy. Yeah.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : I'll call Sheldon. Sorry, no. Yeah.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. Yeah, it's funny because like in my first life, I was a PwC guy doing SAP systems. Every time someone says like, oh, vibe coding can do this. I was like, you haven't seen process. Yeah.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. Good luck.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Moving on a little bit here, like if you do all this innovation in Workday, you're getting more AI, you get more agents. How do you think about monetization?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. Okay. And then the -- how do you think about that equation then like that comes up on our side, a lot is like P times Q. So if I think about you guys, historically, you priced on a number of people on the platform, AI might reduce that number. But then, obviously, you're adding a lot more value, and you talked about the Flex Credits there. How do you see about that dynamic? Because on our side, there's that concern, well, less employees -- good luck to Workday. But like it does feel like actually with Flex Credit agents, et cetera, you cannot have a very, very big offset there.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. Okay. Perfect. Makes sense. You mentioned a few acquisitions -- a few of the acquisitions that happened for you guys. Talk a little bit, like you kind of walked -- part of that -- you were part of like some of the acquisitions, but talk a little bit about like what you acquired, how that fits in? And what's the path forward for you?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : I played with it. It's a cool stuff.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. And then when you -- it was funny when you joined Workday, I kind of initially felt, I think he got the timing off because --

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Because I remember like Workday spent, compared to the other SaaS guys, so much more money on research and development.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. No, no. But how do you think about that dynamic about like having the pressure on -- or like having to deliver like margin expansion, while at the same time, there's so much that needs to be done on your side? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 9:55PM, WDAY.OQ - Workday Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah Okay. Perfect. That's actually a very good closing statement, and we have two Germans on stage, so we need to finish on time.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Great. Thank you. Thanks for joining.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Thank you.