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WalkMe Ltd. (NASDAQ: WKME) is a leading enterprise-class digital adoption platform that helps organizations realize the full potential of their software investments. Founded in Tel Aviv, Israel, WalkMe provides a cloud-based platform that offers a GPS-like experience for navigating websites, SaaS applications, and mobile apps. The platform delivers step-by-step interactive guidance through a series of on-screen tip balloons, enabling users to complete tasks efficiently without the guesswork typically associated with software usage.
WalkMe’s primary focus is on enhancing productivity, reducing costs, and ensuring software is adopted effectively across organizations. The company's AI-driven platform sits atop an organization's tech stack, identifying friction points and providing personalized guidance and automation to streamline workflows.
WalkMe’s clientele includes global giants like IBM, Nestle, ThermoFisher Scientific, and the U.S. Department of Defense. These organizations trust WalkMe to improve user experiences and maximize the return on their software investments.
Recent milestones underline WalkMe’s commitment to innovation and leadership in the digital adoption space. For instance, the company recently filed its annual report for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission. Additionally, WalkMe has been recognized by industry analysts, including being named a leader in the IDC MarketScape Worldwide Digital Adoption Platforms 2024 report, and winning multiple industry awards.
WalkMe is set to host its annual Realize conference on June 18, 2024. This event will spotlight the company's latest advancements in AI-driven digital adoption and its new generative AI offering, which aims to shape the future of work.
Financially, WalkMe has shown robust growth. In the first quarter of 2024, the company reported record high free cash flow and achieved the high end of its revenue guidance. Strategic partnerships with industry leaders like Cognizant and UST further bolster WalkMe’s position, enhancing its capabilities to assist organizations in navigating digital transformations.
In a significant development, WalkMe and SAP SE have entered into an agreement for SAP to acquire WalkMe for approximately $1.5 billion, a move that promises to expand WalkMe’s market reach and enhance its product offerings.
For more information, visit the Investor Relations site or the WalkMe website.
WalkMe Ltd. (NASDAQ: WKME) will announce its third quarter 2022 financial results before U.S. markets open on November 15, 2022. A conference call and webcast will follow at 5:00 a.m. PT (8:00 a.m. ET) to discuss the company's financial performance. The earnings report is anticipated as it will provide insights into WalkMe's business progress and digital adoption solutions. Investors can access the live call via dial-in or webcast, with an archived version available afterward.
WalkMe Ltd. (NASDAQ: WKME) announced three new certification courses for attendees of Elevate 2022, a premiere event for Digital Adoption Professionals, running from October 25-27 in San Francisco. The event will feature 25+ sessions, including insights from industry leaders and an opportunity for participants to earn certifications in Development, Administration, and Consultation. Wayne McCulloch, Chief Customer Officer, highlighted the increasing demand for DAP expertise and the importance of innovative digital adoption strategies.
WalkMe (NASDAQ: WKME) is recognized in the inaugural 2022 Gartner Market Guide for Digital Adoption Platforms as one of 13 representative vendors. The report highlights the rising trend of digital adoption, predicting that by 2025, 70% of organizations will utilize digital adoption platforms to enhance user experiences. WalkMe's CEO emphasized the validation this recognition brings, as nearly 1,500 IT leaders plan to invest an average of $30 million in digital adoption over the next three years.
WalkMe Ltd. (NASDAQ: WKME) announced the launch of the WalkMe World community and the inaugural DAPP100 list recognizing the top 100 Digital Adoption Professionals. The DAPP100 winners from 16 countries were nominated as part of the digital adoption movement, showcasing the increasing demand for DAP Professionals. WalkMe World aims to unite over 7,000 active members, offering resources for collaboration and support. Additionally, WalkMe plans to host the Elevate event on October 25-27, featuring sessions on digital adoption strategies. Enterprises expect to invest an average of $30M in digital adoption over the next three years.
WalkMe Ltd. (NASDAQ: WKME) announced the departure of CFO Andrew Casey after nearly three years. He will remain as an advisor until the Q3 earnings announcement. Hagit Ynon, EVP of Finance & Operations, has been appointed as interim CFO. A search for a permanent replacement is underway as the company aims to capitalize on a $34B market for digital adoption platforms. CEO Dan Adika appreciates Casey's contributions while expressing confidence in Ynon's leadership for ongoing expansion efforts.
WalkMe (NASDAQ: WKME) has announced a strategic alliance with Deloitte Canada to enhance technology adoption for Canadian enterprises. This collaboration aims to deliver rapid digital transformation results by improving the effective use of digital technologies. Deloitte's dedicated team in Canada will promote WalkMe's digital adoption platform, which has over 35 million users globally. The partnership responds to a growing demand for digital adoption, acknowledged by the Canadian government's support for enhanced digital strategies in businesses, as outlined in the March 2022 Canada Digital Adoption Program.
WalkMe Ltd. (NASDAQ:WKME) reported its second quarter financial results, with total revenue of $59.9 million, reflecting a 28% year-over-year increase. Subscription revenue also grew 28% to $54.2 million. The Annualized Recurring Revenue (ARR) increased by 29% year-over-year to $246 million. However, GAAP operating loss rose to $31.2 million, up from $17.8 million a year prior. The company expects third quarter revenue between $62.5 million and $63.5 million, maintaining a 24%-25% growth rate.
The latest report by WalkMe (NASDAQ: WKME) reveals that enterprises are overspending by over $32 million annually due to inadequate digital adoption. Despite 67% of companies feeling pressured to enhance digital transformation, 60% believe current change management strategies are ineffective. Enterprises plan to invest $30 million over three years to tackle these issues, with potential savings of $100 million by improving technology utilization. Factors contributing to financial losses include project failures and employee dissatisfaction due to technological inadequacies.
WalkMe Ltd. (NASDAQ: WKME) has appointed Adriel Sanchez as Chief Marketing Officer, enhancing its leadership team to drive customer expansion and revenue. Sanchez, formerly CMO at Newsela, achieved considerable growth during his tenure. His experience includes significant roles at Commvault and SAP, focusing on demand generation. CEO Dan Adika stated Sanchez's leadership is crucial for WalkMe's growth trajectory. Sanchez aims to strengthen customer technology adoption and maximize value from software investments, marking a strategic move for the company.
WalkMe (NASDAQ: WKME) has established International Digital Adoption Professionals (DAP) Day, to occur annually on the last Thursday of July, recognizing those advancing digital technology use in organizations. The company also announced the Elevate event, scheduled for October 25-27, 2022, featuring over 25 sessions aimed at empowering DAP professionals. Additionally, nominations for the inaugural Top 100 DAP Professionals list opened on July 28, closing on August 18, with voting running from August 25 to September 8. The final list will be unveiled in September.
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