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Broadcom Inc. Announces First Quarter Fiscal Year 2025 Financial Results and Quarterly Dividend

Published

1 year ago

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Revenue of $14,916 million for the first quarter, up 25 percent from the prior year periodGAAP net income of $5,503 million for the first quarter; Non-GAAP net income of $7,823 million for the first quarterAdjusted EBITDA of $10,083 million for the first quarter, or 68 percent of revenueGAAP diluted EPS of $1.14 for the first quarter; Non-GAAP diluted EPS of $1.60 for the first quarterCash from operations of $6,113 million for the first quarter, less capital expenditures of $100 million, resulted in $6,013 million of free cash flow, or 40 percent of revenueQuarterly common stock dividend of $0.59 per shareSecond quarter fiscal year 2025 revenue guidance of approximately $14.9 billion, an increase of 19 percent from the prior year periodSecond quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1)

PALO ALTO, Calif., March 6, 2025 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2025, ended February 2, 2025, provided guidance for its second quarter of fiscal year 2025 and announced its quarterly dividend.

“Broadcom’s record first quarter revenue and adjusted EBITDA were driven by both AI semiconductor solutions and infrastructure software. Q1 AI revenue grew 77% year-over-year to $4.1 billion and infrastructure software revenue grew 47% year-over-year to $6.7 billion,” said Hock Tan, President and CEO of Broadcom Inc. “We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.”

“Consolidated revenue grew 25% year-over-year to a record $14.9 billion. Adjusted EBITDA increased 41% year-over-year to a record $10.1 billion,” said Kirsten Spears, CFO of Broadcom Inc. “Free cash flow was $6.0 billion, up 28% year-over-year.”

(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.

First Quarter Fiscal Year 2025 Financial Highlights

GAAP

Non-GAAP

(Dollars in millions, except per share data)

Q1 25

Q1 24

Change

Q1 25

Q1 24

Change

Net revenue

$

14,916

$

11,961

+25

%

$

14,916

$

11,961

+25

%

Net income

$

5,503

$

1,325

+$

4,178

$

7,823

$

5,254

+$

2,569

Earnings per common share – diluted

$

1.14

$

0.28

+$

0.86

$

1.60

$

1.10

+$

0.50

(Dollars in millions)

Q1 25

Q1 24

Change

Cash flow from operations

$

6,113

$

4,815

+$

1,298

Adjusted EBITDA

$

10,083

$

7,156

+$

2,927

Free cash flow

$

6,013

$

4,693

+$

1,320

Net revenue by segment

(Dollars in millions)

Q1 25

Q1 24

Change

Semiconductor solutions

$

8,212

55

%

$

7,390

62

%

+11

%

Infrastructure software

6,704

45

4,571

38

+47

%

Total net revenue

$

14,916

100

%

$

11,961

100

%

 

The Company’s cash and cash equivalents at the end of the fiscal quarter were $9,307 million, compared to $9,348 million at the end of the prior fiscal quarter.

During the first fiscal quarter, the Company generated $6,113 million in cash from operations and spent $100 million on capital expenditures. The Company paid $2,036 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 8.7 million shares).

On December 31, 2024, the Company paid a cash dividend of $0.59 per share, totaling $2,774 million.

The differences between the Company’s GAAP and non-GAAP results are described generally under “Non-GAAP Financial Measures” below and presented in detail in the financial reconciliation tables attached to this release.

Second Quarter Fiscal Year 2025 Business Outlook

Based on current business trends and conditions, the outlook for the second quarter of fiscal year 2025, ending May 4, 2025, is expected to be as follows: 

Second quarter revenue guidance of approximately $14.9 billion; andSecond quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue.

The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Quarterly Dividends

The Company’s Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on March 31, 2025, to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 20, 2025.

Financial Results Conference Call

Broadcom Inc. will host a conference call to review its financial results for the first quarter of fiscal year 2025 and to discuss the business outlook today at 2:00 p.m. Pacific Time.

To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.

Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom’s website at https://investors.broadcom.com/.

Non-GAAP Financial Measures

The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company’s on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons. 

In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company’s underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company’s operations, and benchmarking performance externally against the Company’s competitors. The exclusion of these and other similar items from Broadcom’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom’s free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com. 

Cautionary Note Regarding Forward-Looking Statements 

This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as “will,” “expect,” “believe,” “anticipate,” “estimate,” “should,” “intend,” “plan,” “potential,” “predict,” “project,” “aim,” and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and other channel partners of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our ability to make successful investments in research and development; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our ability to improve our manufacturing capacity and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.

Our filings with the SEC, which are available without charge at the SEC’s website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
650-427-6000
investor.relations@broadcom.com 

(AVGO-Q)

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED

(IN MILLIONS, EXCEPT PER SHARE DATA)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Net revenue

$

14,916

$

14,054

$

11,961

Cost of revenue:

Cost of revenue

3,273

3,399

3,114

Amortization of acquisition-related intangible assets

1,484

1,602

1,380

Restructuring charges

14

51

92

Total cost of revenue

4,771

5,052

4,586

Gross margin

10,145

9,002

7,375

Research and development

2,253

2,234

2,308

Selling, general and administrative

949

1,010

1,572

Amortization of acquisition-related intangible assets

511

813

792

Restructuring and other charges

172

318

620

Total operating expenses

3,885

4,375

5,292

Operating income

6,260

4,627

2,083

Interest expense

(873)

(916)

(926)

Other income, net

103

52

185

Income from continuing operations before income taxes

5,490

3,763

1,342

Provision for (benefit from) income taxes

(13)

(442)

68

Income from continuing operations

5,503

4,205

1,274

Income from discontinued operations, net of income taxes

–

119

51

Net income

$

5,503

$

4,324

$

1,325

Basic income per share:

Income per share from continuing operations

$

1.17

$

0.89

$

0.28

Income per share from discontinued operations

–

0.03

0.01

Net income per share

$

1.17

$

0.92

$

0.29

Diluted income per share:

Income per share from continuing operations

$

1.14

$

0.87

$

0.27

Income per share from discontinued operations

–

0.03

0.01

Net income per share

$

1.14

$

0.90

$

0.28

Weighted-average shares used in per share calculations:

Basic

4,695

4,679

4,517

Diluted

4,836

4,828

4,666

Stock-based compensation expense included in continuing operations:

Cost of revenue

$

153

$

159

$

161

Research and development

822

839

863

Selling, general and administrative

305

316

548

Total stock-based compensation expense

$

1,280

$

1,314

$

1,572

 

BROADCOM INC.

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP – UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Gross margin on GAAP basis

$

10,145

$

9,002

$

7,375

Amortization of acquisition-related intangible assets

1,484

1,602

1,380

Stock-based compensation expense

153

159

161

Restructuring charges

14

51

92

Acquisition-related costs

–

–

6

Gross margin on non-GAAP basis

$

11,796

$

10,814

$

9,014

Research and development on GAAP basis

$

2,253

$

2,234

$

2,308

Stock-based compensation expense

822

839

863

Acquisition-related costs

–

–

1

Research and development on non-GAAP basis

$

1,431

$

1,395

$

1,444

Selling, general and administrative expense on GAAP basis

$

949

$

1,010

$

1,572

Stock-based compensation expense

305

316

548

Acquisition-related costs

107

86

285

Selling, general and administrative expense on non-GAAP basis

$

537

$

608

$

739

Total operating expenses on GAAP basis

$

3,885

$

4,375

$

5,292

Amortization of acquisition-related intangible assets

511

813

792

Stock-based compensation expense

1,127

1,155

1,411

Restructuring and other charges

172

318

620

Acquisition-related costs

107

86

286

Total operating expenses on non-GAAP basis

$

1,968

$

2,003

$

2,183

Operating income on GAAP basis

$

6,260

$

4,627

$

2,083

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Operating income on non-GAAP basis

$

9,828

$

8,811

$

6,831

Interest expense on GAAP basis

$

(873)

$

(916)

$

(926)

Loss on debt extinguishment

65

52

–

Interest expense on non-GAAP basis

$

(808)

$

(864)

$

(926)

Other income, net on GAAP basis

$

103

$

52

$

185

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Other income, net on non-GAAP basis

$

76

$

82

$

152

Provision for (benefit from) income taxes on GAAP basis

$

(13)

$

(442)

$

68

Non-GAAP tax reconciling adjustments

1,286

1,506

735

Provision for income taxes on non-GAAP basis

$

1,273

$

1,064

$

803

Net income on GAAP basis

$

5,503

$

4,324

$

1,325

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Loss on debt extinguishment

65

52

–

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Non-GAAP tax reconciling adjustments

(1,286)

(1,506)

(735)

Income from discontinued operations, net of income taxes

–

(119)

(51)

Net income on non-GAAP basis

$

7,823

$

6,965

$

5,254

Net income on GAAP basis

$

5,503

$

4,324

$

1,325

Non-GAAP Adjustments:

Amortization of acquisition-related intangible assets

1,995

2,415

2,172

Stock-based compensation expense

1,280

1,314

1,572

Restructuring and other charges

186

369

712

Acquisition-related costs

107

86

292

Loss on debt extinguishment

65

52

–

(Gains) losses on investments

4

30

(33)

Other

(31)

–

–

Non-GAAP tax reconciling adjustments

(1,286)

(1,506)

(735)

Income from discontinued operations, net of income taxes

–

(119)

(51)

Other Adjustments:

Interest expense

808

864

926

Provision for income taxes on non-GAAP basis

1,273

1,064

803

Depreciation

142

156

139

Amortization of purchased intangibles and right-of-use assets

37

40

34

Adjusted EBITDA

$

10,083

$

9,089

$

7,156

Weighted-average shares used in per share calculations – diluted on GAAP basis

4,836

4,828

4,666

Non-GAAP adjustment (1)

59

77

113

Weighted-average shares used in per share calculations – diluted on non-GAAP basis

4,895

4,905

4,779

Net cash provided by operating activities

$

6,113

$

5,604

$

4,815

Purchases of property, plant and equipment

(100)

(122)

(122)

Free cash flow

$

6,013

$

5,482

$

4,693

 Fiscal
Quarter

Ending 

May 4,

Expected average diluted share count: 

2025

Weighted-average shares used in per share calculation – diluted on GAAP basis

4,840

Non-GAAP adjustment (1)

107

Weighted-average shares used in per share calculation – diluted on non-GAAP basis

4,947

(1) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation
expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be
used to repurchase shares under the GAAP treasury stock method.

 

BROADCOM INC.

CONDENSED CONSOLIDATED BALANCE SHEETS – UNAUDITED

(IN MILLIONS)

February 2,

November 3,

2025

2024

ASSETS

Current assets:

Cash and cash equivalents

$

9,307

$

9,348

Trade accounts receivable, net

4,955

4,416

Inventory

1,908

1,760

Other current assets

4,820

4,071

Total current assets

20,990

19,595

Long-term assets:

Property, plant and equipment, net

2,465

2,521

Goodwill

97,871

97,873

Intangible assets, net

38,583

40,583

Other long-term assets

5,449

5,073

Total assets

$

165,358

$

165,645

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

$

1,905

$

1,662

Employee compensation and benefits

922

1,971

Short-term debt

5,653

1,271

Other current liabilities

12,430

11,793

Total current liabilities

20,910

16,697

Long-term liabilities:

Long-term debt

60,926

66,295

Other long-term liabilities

13,733

14,975

Total liabilities

95,569

97,967

Stockholders’ equity:

Preferred stock

–

–

Common stock

5

5

Additional paid-in capital

66,848

67,466

Retained earnings

2,729

–

Accumulated other comprehensive income

207

207

Total stockholders’ equity

69,789

67,678

  Total liabilities and equity

$

165,358

$

165,645

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

February 2,

November 3,

February 4,

2025

2024

2024

Cash flows from operating activities:

Net income

$

5,503

$

4,324

$

1,325

Adjustments to reconcile net income to net cash provided by operating activities:

Amortization of intangible and right-of-use assets

2,032

2,455

2,206

Depreciation

142

156

139

Stock-based compensation

1,280

1,314

1,582

Deferred taxes and other non-cash taxes

(696)

(868)

(294)

Loss on debt extinguishment

65

52

–

Non-cash interest expense

97

91

102

Other

41

138

38

Changes in assets and liabilities, net of acquisitions and disposals:

  Trade accounts receivable, net

(539)

249

1,756

  Inventory

(148)

134

(14)

  Accounts payable

241

(85)

(74)

  Employee compensation and benefits

(908)

196

(660)

  Other current assets and current liabilities

26

(1,410)

(2,182)

  Other long-term assets and long-term liabilities

(1,023)

(1,142)

891

Net cash provided by operating activities

6,113

5,604

4,815

Cash flows from investing activities:

Acquisition of business, net of cash acquired

–

–

(25,416)

Purchases of property, plant and equipment

(100)

(122)

(122)

Purchases of investments

(105)

(30)

(13)

Sales of investments

18

20

89

Other

13

–

(15)

Net cash used in investing activities

(174)

(132)

(25,477)

Cash flows from financing activities:

Proceeds from long-term borrowings

2,986

4,969

30,010

Payments on debt obligations

(8,090)

(7,472)

(934)

Proceeds from commercial paper, net

3,980

–

–

Payments of dividends

(2,774)

(2,484)

(2,435)

Repurchases of common stock – repurchase program

–

–

(7,176)

Shares repurchased for tax withholdings on vesting of equity awards

(2,036)

(1,204)

(1,114)

Issuance of common stock

–

126

–

Other

(46)

(11)

(14)

Net cash provided by (used in) financing activities

(5,980)

(6,076)

18,337

Net change in cash and cash equivalents

(41)

(604)

(2,325)

Cash and cash equivalents at beginning of period

9,348

9,952

14,189

Cash and cash equivalents at end of period

$

9,307

$

9,348

$

11,864

Supplemental disclosure of cash flow information:

Cash paid for interest

$

671

$

738

$

750

Cash paid for income taxes

$

404

$

832

$

904

 

View original content:https://www.prnewswire.com/news-releases/broadcom-inc-announces-first-quarter-fiscal-year-2025-financial-results-and-quarterly-dividend-302395106.html

SOURCE Broadcom Inc.

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Workday Adaptive Planning Achieves FedRAMP Moderate Authorization to Support Federal Workforce and Budget Planning

Published

41 minutes ago

on

July 23, 2026

By

New Milestone Helps Federal Agencies Plan Workforce and Budgets in One Secure, Modern System

WASHINGTON, July 23, 2026 /PRNewswire/ — Workday Government, a wholly owned subsidiary of Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for HR, finance, and IT, today announced that Workday Adaptive Planning has achieved FedRAMP Authorization at the Moderate Impact Level. The authorization confirms that Workday Adaptive Planning meets the security and compliance standards required to handle sensitive, unclassified federal data, giving agencies a secure, compliant foundation for modern planning.

Federal agencies are under pressure to do more with less, manage costs, and maintain clear records of their decisions. Yet disconnected data, legacy systems, and manual spreadsheet work can make it hard to understand how organizational decisions affect the workforce. Workday Adaptive Planning helps agencies modernize planning by bringing workforce planning, budgeting, and forecasting together so agencies can plan with connected workforce and financial data.

“Federal agencies must align their people, funding, and priorities to deliver their missions effectively,” said Lynn Martin, general manager, Workday Government. “With FedRAMP Moderate authorization, Workday Adaptive Planning gives agencies the secure foundation they need to unify workforce and financial planning. This clarity allows leaders to evaluate trade-offs, allocate resources with impact, and prepare confidently for what lies ahead.”

With Workday Adaptive Planning, agencies can model and assess the workforce implications of organizational change, such as hiring freezes, budget reductions, or reorganizations, to understand the potential effects on headcount, costs, project timelines, and mission readiness. Agencies can also use workforce data to identify talent trends and skills gaps. Finance teams can evaluate competing program requests, allocate costs across funds and programs, monitor budgets throughout the procurement lifecycle, and identify potential overruns earlier. Built-in audit capabilities and FIPS 140-3 compliant security help agencies strengthen fiscal discipline, maintain compliance, and make faster, better-informed decisions.

“Federal agencies need a planning tool they can trust to protect their data and still move fast,” said Ben Pierce, general manager, Workday Adaptive Planning. “With FedRAMP authorization, Workday Adaptive Planning gives them a secure, modern way to make budgeting and workforce planning less painful and a lot more useful.”

As part of Workday Government Cloud, Workday Adaptive Planning works alongside Workday human capital management and financial solutions, helping agencies plan with connected data. By bringing planning into the same platform that powers HR and finance, Workday Government helps agencies move beyond systems that simply record work to a modern, connected foundation for planning safely and collaboratively.

Workday Adaptive Planning is expected to be available to Workday Government customers in early 2027.

For More Information

Explore how Workday Adaptive Planning gives government organizations the power to plan, budget, and forecast the future here.Learn about the mission of Workday Government here.

About Workday Government
Workday Government is a wholly owned subsidiary of Workday, the enterprise AI platform for HR, finance, and IT. Workday Government is dedicated to serving the U.S. government by unifying HR and finance on one intelligent platform with AI at the core, empowering agencies at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver on their missions. Workday Government supports a range of agencies across the civilian, defense, and intelligence communities. For more information about Workday Government, visit workday.com/federal. For more information about Workday visit workday.com.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. 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 inherent 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, risks described 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.

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SOURCE Workday Inc.

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Technology

Ontinue Wins Gold Stevie® Award for Advancing the Future of Managed Security Operations

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41 minutes ago

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July 23, 2026

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Recognition Honors the Innovation Behind Ontinue’s Agentic SOC, Where AI Agents And Expert Cyber Defenders Work Together to Deliver Autonomous, Governed Security Operations

ZURICH, July 23, 2026 /PRNewswire/ — Ontinue, a leading MXDR partner providing nonstop managed security operations through its Agentic SOC, today announced it received a Gold Stevie® for Technology Excellence Award, recognizing the innovation behind its ION MXDR platform and Agentic SOC. The award was presented in the New Product of the Year – Information Technology (Cybersecurity) category, honoring Ontinue’s continued advancement of AI-powered security operations.

Ontinue was recognized for pioneering the Agentic SOC, a new operating model that treats security decision-making itself as software: governed, measurable, and built to scale with attackers who now operate at machine speed. Rather than layering AI onto existing workflows, Ontinue re-engineered its ION MXDR platform around a multi-agent architecture, with specialized agents spanning threat hunting, investigation, response, and posture hardening, that reason over each customer’s accumulated context and progressively take on more decision-making as trust is earned, while Ontinue’s Cyber Defenders retain governance and accountability throughout.

Ontinue defines an Agentic SOC as a security operations model in which software agents progressively assume responsibility for security decisions and actions, under continuous human governance, using accumulated context, policy, and learned behavior. In December 2024, this model went live in production for every ION MXDR customer, extending autonomous investigation to Tier 2-level incidents for the first time in the industry. The result is a platform that acts less like a tool and more like a team.

Ontinue’s Agentic SOC, by the numbers:

Autonomously investigates incidents within minutesCuts mean time to investigate by 50 percentResolves 99.5 percent of incidents without customer involvementDrives median response time for high-severity incidents under nine minutesPre-approves 97 percent of response actions, based on trust earned directly from customers

For Ontinue’s customers, that translates directly into business outcomes, such has stronger Secure Scores, security teams freed from alert fatigue, and hundreds of analyst hours returned to work that actually moves the business forward.

“The cybersecurity industry doesn’t need more AI features, it needs a fundamentally better way to operate security,” said Moritz Mann, Chief Executive Officer at Ontinue. “This recognition validates the work our teams have done over the past two years to transform AI from an assistant into a trusted operational capability. It’s recognition of an operating model that is already delivering measurable outcomes for customers every day.”

“We congratulate all of the winners in the third annual Stevie® Awards for Technology Excellence for their outstanding achievements,” said Stevie Awards President Maggie Miller. “Their innovations are helping shape the future of technology across every industry, and we look forward to celebrating their success on October 28.”

The Stevie Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 700 nominations from organizations of all sizes in 37 nations and territories were submitted this year for consideration in a wide range of tech-related categories. More than 180 professionals worldwide participated in the judging process to select this year’s honorees.

Details about the Stevie Awards for Technology Excellence and the list of 2026 Stevie winners are available at http://Tech.StevieAwards.com.

About Ontinue
As a leading provider of AI-powered managed security operations, Ontinue is on a mission to give every organization the freedom to focus on what they do best; by making nonstop security excellence accessible, not just aspirational. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.

Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.

Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.

About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

CONTACT: Alison Raymond, araymond@ontinue.com 

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SOURCE Ontinue

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Technology

New Harris Poll and Ruth AI Study: 81% of Americans Would Let an AI Agent Handle Part of Their Job Search

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41 minutes ago

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July 23, 2026

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Nearly half would let AI negotiate their salary, while 76% have never heard that AI can provide biased career guidance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — Artificial intelligence has become a mainstream source of career and financial advice for American workers, according to a national survey of 2,131 U.S. adults conducted by The Harris Poll in collaboration with Ruth AI, the AI career strategist built for women.

The full study, The Trust Gap, is available at https://ruthapp.ai/research and has already drawn coverage from Fast Company.

Nearly half of Americans (45%) have used an AI platform such as ChatGPT, Claude, or Gemini for career or work-related advice. That rises to 66% of Millennials and 63% of Gen Z. One in three U.S. adults has used AI for advice about money at work, including salary, raises, bonuses, or negotiating pay.

Americans are also increasingly willing to let AI act on their behalf. Eighty-one percent would be comfortable having an AI agent handle at least one part of a job search, climbing to 90% of Millennials. A majority would let AI search for jobs (67%), conduct pre-interview research (67%), update their resume (65%), or apply for jobs outright (55%). Nearly half would let AI negotiate their benefits (49%) or salary (47%).

Yet awareness of the technology’s documented limitations remains low. Three in four Americans (76%) had never heard that independent research has found AI can produce biased career and salary guidance. Seventy-two percent agree that AI can sound confident even when its advice turns out to be wrong.

“Americans are handing AI some of the most consequential decisions of their working lives, from the job search to the salary ask, while most have never heard that the guidance can carry bias,” said Valerie Chapman, founder and CEO of Ruth AI. “We are delegating faster than we are asking questions. The responsibility now falls on the people building AI to earn the trust users are already giving it.”

About the Survey

The survey was conducted online within the United States by The Harris Poll from June 11-13, 2026, among a nationally representative sample of 2,131 U.S. adults, including 420 Gen Z adults, 620 Millennials, 519 Gen X adults, and 572 Baby Boomers. Data were weighted to the U.S. general adult population. Some questions were asked only of respondents who had used AI for the relevant purpose. References to research on biased AI guidance refer to external academic research (Sorokovikova, Chizhov, Eremenko & Yamshchikov, 2025; arXiv:2506.10491) and are not findings measured by this survey.

About The Harris Poll Thought Leadership Practice

Building on more than 60 years of experience pulsing societal opinion, The Harris Poll Thought Leadership Practice designs research that is credible, creative, and culturally relevant, driving thought leadership and uncovering trends for today’s biggest brands.

About Ruth AI

Ruth AI is an AI career strategist built for women, on a mission to close the $1.6 trillion gender wage gap. Based in San Francisco, Ruth AI is building a suite of AI agents that help women build personal brands, negotiate their worth, and launch their businesses. Learn more at https://ruthapp.ai.

Media Contact

Valerie Chapman
Founder and CEO, Ruth AI
419380@email4pr.com
786-375-1110

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SOURCE Ruth AI

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