Salesforce, Inc. (CRM): verified earnings note

•Current remaining performance obligation ("cRPO") of $33.5 billion, up 14% year-over-year ("Y/Y") and in constant currency ("CC")

•Revenue of $11.3 billion, up 11% Y/Y and in CC, including $456 million Informatica contribution

"We just delivered one of our best quarters ever, outperforming across every key metric," said Marc Benioff, Chair and CEO, Salesforce. "AI is delivering value across every layer of our platform. We're seeing incredible demand for our AI and data products, with ARR about to cross $4 billion. And with AIforce, our trusted enterprise harness, we're unlocking the data, workflows, business logic, actions, and governance inside Salesforce and making it available to every agent, model, and interface. This is how we are turning AI into customer success at unprecedented scale."

"AI is amplifying the power, reach, and value of our platform," said Robin Washington, President and Chief Financial and Operating Officer, Salesforce. "NNAOV growth is the strongest it's been in four years, keeping us on track for second-half organic revenue reacceleration."

Salesforce raises full year FY27 revenue guidance to $46.1 billion to $46.4 billion, up 11% - 12% Y/Y and 11% Y/Y in CC. In June, Salesforce announced separate definitive agreements to acquire Contentful and Fin. The Company now expects both transactions to close independently in the coming weeks, during the third quarter of Salesforce's fiscal year 2027. These acquisitions have been incorporated into all metrics within the Company's updated guidance, with the exception of cRPO; the guidance is conditional upon the closing of these transactions.

•Initiates third quarter FY27 revenue guidance of $11.42 billion to $11.5 billion, up 11% - 12% Y/Y and in CC, including slightly above 4pts Informatica contribution

•Raises full year FY27 revenue guidance, now expects full year FY27 revenue of $46.1 billion to $46.4 billion, up 11% - 12% Y/Y and 11% in CC, including slightly above 3pts Informatica contribution. The $200M raise, $300 million CC, reflects $100 million of organic growth, $200 million from the pending Contentful and Fin acquisitions, and $100M FX headwind

Salesforce raises full year FY27 revenue guidance to $46.1 billion to $46.4 billion, up 11% - 12% Y/Y and 11% Y/Y in CC. In June, Salesforce announced separate definitive agreements to acquire Contentful and Fin. The Company now expects both transactions to close independently in the coming weeks, during the third quarter of Salesforce's fiscal year 2027. These acquisitions have been incorporated into all metrics within the Company's updated guidance, with the exception of cRPO; the guidance is conditional upon the closing of these transactions.

•Initiates third quarter FY27 cRPO growth guidance of approximately 14% Y/Y and in CC, which does not include any contribution from the pending acquisitions of Contentful and Fin

•Final settlement of the company's $25 billion ASR is expected in October 2026.

Q3 FY27 Guidance GAAP | Non-GAAP(1) Revenue | $11.42 - $11.5 billion | N/A Revenue growth(2) | 11% - 12% | 11% - 12% CC, $0M Y/Y FX Includes slightly above 4pts Informatica contribution Diluted net income per share | $1.81 - $1.83 | $3.42 - $3.44 Current remaining performance obligation growth(3) | Approximately 14% | Approximately 14% CC, $100M Y/Y FX

•First quarter GAAP diluted net income per share of $2.42, up 52% Y/Y and non-GAAP diluted net income per share of $3.88, up 50% Y/Y

•First quarter revenue of $11.1 billion, up 13% Y/Y and 12% in CC, including $444 million Informatica contribution

"This was an outstanding quarter for Salesforce - record revenue, record deals, and cash flow," said Marc Benioff, Chair and CEO, Salesforce. "Agentic AI is the biggest growth opportunity for our customers, and for Salesforce. We're the #1 Agentic CRM, with Agentforce now powering every Customer 360 application and helping tens of thousands of businesses across every industry transform into Agentic Enterprises. With more than $1 billion in Agentforce ARR, $3.4 billion in combined AI and data ARR, and 3.8 billion Agentic Work Units delivered for our customers, Salesforce has never been more essential."

"We remain confident in delivering organic revenue acceleration in the second half of FY27, driven by growth in Sales, Service, Slack, Agentforce, and Data 360," said Robin Washington, President and Chief Financial and Operating Officer, Salesforce. "We are executing against our profitable growth framework and remain on track to deliver on our FY30 targets while maximizing shareholder value."

•Initiates second quarter FY27 revenue guidance of $11.27 billion to $11.35 billion, up 10% - 11% Y/Y and 10% in CC, including slightly above 4pts Informatica contribution

•Raises midpoint of full year FY27 revenue guidance, now expects full year FY27 revenue of $45.9 billion to $46.2 billion, up 11% Y/Y and 10% - 11% in CC, including approximately 3pts Informatica contribution

•Updates full year FY27 GAAP operating margin guidance of 20.6%, and maintains non-GAAP operating margin guidance of 34.3%

•Updates full year FY27 operating cash flow growth guidance and free cash flow growth guidance to approximately 4% - 5% Y/Y to reflect the impact of the $25 billion debt issuance for the ASR

•Agentforce and Data 360 annual recurring revenue ("ARR") reaches nearly $3.4 billion, up over 200% Y/Y, including $1.1 billion Informatica Cloud ARR and $1.2 billion Agentforce ARR, up 205% Y/Y

Q2 FY27 Guidance GAAP | Non-GAAP(1) Revenue | $11.27 - $11.35 billion | N/A Revenue growth(2) | 10% - 11% | 10% CC, $50M Y/Y FX Includes slightly above 4pts Informatica contribution Diluted net income per share | $1.74 - $1.76 | $3.25 - $3.27 Current remaining performance obligation growth(3) | Approximately 14% | Approximately 13% CC, $200M Y/Y FX

•Entered into $25 billion accelerated share repurchase ("ASR"), with upfront share delivery of 103 million shares representing approximately 80% of total shares expected to be repurchased, with final settlement expected in Q3 FY27

1 | Three Months Ended April 30, 2026 | 2025 Revenues: Subscription and support | $ | 10,593 | $ | 9,297 Professional services and other | 540 | 532 Total revenues | 11,133 | 9,829 Cost of revenues (1)(2): Subscription and support | 1,953 | 1,611 Professional services and other | 617 | 654 Total cost of revenues | 2,570 | 2,265 Gross profit | 8,563 | 7,564 Operating expenses (1)(2): Research and development | 1,627 | 1,460 Sales and marketing | 3,769 | 3,429 General and administrative | 740 | 697 Restructuring | 80 | 36 Total operating expenses | 6,216 | 5,622 Income from operations | 2,347 | 1,942 Interest expense | (317) | (68) Gains (losses) on strategic investments, net | 558 | (63) Other income | 133 | 163 Income before provision for income taxes | 2,721 | 1,974 Provision for income taxes | (614) | (433) Net income | $ | 2,107 | $ | 1,541 Basic net income per share | $ | 2.43 | $ | 1.61 Diluted net income per share (3) | $ | 2.42 | $ | 1.59 Shares used in computing basic net income per share | 868 | 960 Shares used in computing diluted net income per share | 871 | 970

•Fourth quarter revenue of $11.2 billion, up 12% Y/Y and 10% in CC, including $399 million Informatica contribution

"Salesforce delivered a record Q4 as our customers' shift to the Agentic Enterprise surges, fueling NNAOV acceleration in H2 FY26," said Robin Washington, President and Chief Financial and Operating Officer, Salesforce. "Our performance makes us even more confident in our path to reaccelerate organic revenue growth in H2 FY27. By driving adoption of Agentforce and Data 360 across our platform, we are building a powerful engine that converts raw intelligence into enterprise work. Reflecting our strong trajectory, we've increased our authorization to $50 billion for share repurchases and increased our quarterly dividend, reinforcing our commitment to delivering significant shareholder value."

Q1 FY27 Guidance GAAP | Non-GAAP(1) Revenue | $11.03 - $11.08 billion | N/A Revenue growth(2) | 12% - 13% | 10% - 11% CC, $175M Y/Y FX Includes slightly above 4pts Informatica contribution Diluted net income per share | $1.77 - $1.79 | $3.11 - $3.13 Current remaining performance obligation growth(3) | Approximately 14% | Approximately 13% CC, $100M Y/Y FX

•Initiates full year FY27 GAAP operating margin guidance of 20.9%, and non-GAAP operating margin guidance of 34.3%

•Agentforce and Data 360 annual recurring revenue ("ARR") exceeds $2.9 billion, up over 200% Y/Y, including $1.1 billion Informatica Cloud ARR and $800 million Agentforce ARR, up 169% Y/Y

•Announces $50 billion share repurchase program authorization, replacing all previously unused authorizations

•Expects organic revenue re-acceleration in the second half of FY27

Q1 FY27 Guidance GAAP | Non-GAAP(1) Revenue | $11.03 - $11.08 billion | N/A Revenue growth(2) | 12% - 13% | 10% - 11% CC, $175M Y/Y FX Includes slightly above 4pts Informatica contribution Diluted net income per share | $1.77 - $1.79 | $3.11 - $3.13 Current remaining performance obligation growth(3) | Approximately 14% | Approximately 13% CC, $100M Y/Y FX

•Agentforce and Data 360 annual recurring revenue ("ARR") exceeds $2.9 billion, up over 200% Y/Y, including $1.1 billion Informatica Cloud ARR and $800 million Agentforce ARR, up 169% Y/Y

•Initiates full year FY27 revenue guidance of $45.8 billion to $46.2 billion, up 10% - 11% Y/Y and in CC, including approximately 3pts Informatica contribution

•Third quarter GAAP operating margin of 21.3% and non-GAAP operating margin of 35.5%

"We are raising fiscal year 2026 revenue guidance to $41.45 billion to $41.55 billion, and Q3 cRPO was exceptional, up 11% year-over-year at $29.4 billion, signaling a powerful pipeline of future revenue," said Marc Benioff, Chair and CEO, Salesforce. "Our Agentforce and Data 360 products are the momentum drivers, hitting nearly $1.4 billion in ARR-an explosive 114% year-over-year gain. We now have over 9,500 paid Agentforce deals and 3.2 trillion tokens processed, underscoring our leadership in building the Agentic Enterprise and driving real outcomes."

•Agentforce and Data 360 annual recurring revenue ("ARR") reached nearly $1.4 billion, up 114% Y/Y

•Raises full year FY26 revenue guidance to $41.45 billion to $41.55 billion, up 9% - 10% Y/Y and approximately 9% in CC, including approximately 80bps Informatica contribution

Q4 FY26 Guidance GAAP | Non-GAAP(1) Revenue | $11.13 - $11.23 billion Revenue growth(2) | 11% - 12% | 10% - 11% CC, $150M Y/Y FX Includes approximately 3pts Informatica contribution Diluted net income per share | $1.47 - $1.49 | $3.02 - $3.04 Current remaining performance obligation growth(3) | Approximately 15% | Approximately 13% CC, $500M Y/Y FX Includes approximately 4pts Informatica contribution

•Updates full year FY26 GAAP operating margin guidance to 20.3%, and maintains non-GAAP operating margin guidance of 34.1%

Q4 FY26 Guidance GAAP | Non-GAAP(1) Revenue | $11.13 - $11.23 billion Revenue growth(2) | 11% - 12% | 10% - 11% CC, $150M Y/Y FX Includes approximately 3pts Informatica contribution Diluted net income per share | $1.47 - $1.49 | $3.02 - $3.04 Current remaining performance obligation growth(3) | Approximately 15% | Approximately 13% CC, $500M Y/Y FX Includes approximately 4pts Informatica contribution

•Salesforce has closed over 18,500 Agentforce deals since launch; over 9,500 paid deals, up 50% quarter-over-quarter

•Completed Informatica acquisition, bringing Informatica's rich data catalog, integration, governance, quality and privacy, metadata management, and Master Data Management services to the Salesforce platform

Q4 FY26 Guidance GAAP | Non-GAAP(1) Revenue | $11.13 - $11.23 billion Revenue growth(2) | 11% - 12% | 10% - 11% CC, $150M Y/Y FX Includes approximately 3pts Informatica contribution Diluted net income per share | $1.47 - $1.49 | $3.02 - $3.04 Current remaining performance obligation growth(3) | Approximately 15% | Approximately 13% CC, $500M Y/Y FX Includes approximately 4pts Informatica contribution

•Second quarter GAAP operating margin of 22.8% and non-GAAP operating margin of 34.3%

"Our second quarter results highlight our ability to drive profitable growth while helping our customers and ourselves become agentic enterprises," said Robin Washington, President and Chief Operating and Financial Officer, Salesforce. "We exceeded all our financial targets while achieving our tenth consecutive quarter of operating margin expansion, delivering strong returns and maximizing value for our customers and shareholders."

•Initiates third quarter FY26 revenue guidance of $10.24 billion to $10.29 billion, up 8% - 9% Y/Y and 8% in CC

•Updates full year FY26 GAAP operating margin guidance to 21.2%, and raises non-GAAP operating margin guidance to 34.1%

•Raises low end of full year FY26 revenue guidance to $41.1 billion to $41.3 billion, up 8.5% - 9% Y/Y and 8% in CC

•Data Cloud and AI annual recurring revenue over $1.2 billion, up 120% Y/Y

•Initiates third quarter FY26 revenue guidance of $10.24 billion to $10.29 billion, up 8% - 9% Y/Y and 8% in CC

•Salesforce has closed over 12,500 deals since launching Agentforce, of which over 6,000 are paid

Q3 FY26 Guidance GAAP | Non-GAAP(1) Revenue | $10.24 - $10.29 billion Revenue growth(2) | 8% - 9% | 8% CC, $75M Y/Y FX Diluted net income per share | $1.60 - $1.62 | $2.84 - $2.86 Current remaining performance obligation growth(3) | Slightly above 10% | Slightly above 9% CC, $300M Y/Y FX

•Raises full year FY26 operating cash flow growth guidance to approximately 12% to 13% Y/Y