At its October 13, 2026 analyst day, Workday set a fiscal 2028 framework of about $11.0 billion in subscription revenue (~11% growth), a non-GAAP operating margin of 33% or more and free cash flow of about $15 a share. It put agentic AI ARR at about $600 million, expects AI to make up about 70% of incremental customer-base ARR in fiscal 2028, announced the acquisition of identity-governance company C1.ai, and declared its platform fully "headless" with agent-ready tools, Data Cloud and Agent Harness generally available.
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