Salesforce, Inc. · NYSE:CRM
Salesforce — Investor Day (September 2026)
65 slides from Salesforce's investor day presentation, Sep 16, 2026
Slide 1: Welcome to Investor Day at Dreamforce 2026
Welcome to Investor Day at Dreamforce 2026 Welcome and Introduction
Slide 2: Mark Murphy
Mark Murphy EVP, Global Investor Relations
Slide 3: Thank you
Thank you
Slide 4: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements about, among other things, trend analyses and statements regarding future events, anticipated growth and industry prospects, and our strategies, expectations, or plans regarding product releases and enhancements. The ac
Slide 5: Agenda
Agenda 1:05 PM – Defining the Agentic Enterprise, Patrick Stokes & Rohan Kumar 1:55 PM – Execution that Compounds, Miguel Milano & Alexa Vignone 2:50 PM – The Agentic Enterprise Opportunity, Robin Washington 3:15 PM – Marc Benioff + Leadership Q&A 4:00 PM - 5:00 PM – Investor Reception
Slide 6: Winning the Agentic Enterprise Opportunity
Winning the Agentic Enterprise Opportunity Defining the Agentic Execution that Compounds The Agentic Enterprise Enterprise Strong demand + accelerating GTM capacity Opportunity Four layers of our platform power Many paths to monetize AI across portfolio Financial framework on track the Agentic Enterp
Slide 7: Patrick Stokes and Rohan Kumar
Patrick Stokes Rohan Kumar President, Applications President, Chief Platform & Marketing & Engineering Officer
Slide 8: Every app is agent ready; becoming a data company
Every app is agent ready We are transforming into a data company of the future
Slide 9: AI is creating an interface revolution
Al is creating an interface | aff revolution Command Line Graphical User Web - QA2 $200 K Interface Qualified Leads Pipeline coinic all @ - | e Mi Ais) " @ re. (+*Create a report ) Welcome to the World Wide Web. 1981 1984 1993 2007
Slide 10: Enterprise intelligence runs on core systems
Enterprise intelligence runs on core systems
Slide 11: The living interface for Salesforce
is the living interface for Salesforce
Slide 12: Salesforce powers the Agentic Enterprise
Salesforce powers the Agentic Enterprise Community AgentExchange & Partners Trailhead
Slide 13: Salesforce in Claude
Introducing Salesforce in Claude. The #1 AI meets the #1 CRM. A live interface, built around you. Powered by AIforce Zero data Intelligent Secured & Composable Works with retention & dynamic governed by you what you have with EFS
Slide 14: Upgrade today & get more value from Salesforce
Upgrade today & get more value from Salesforce
Slide 15: Siemens is an Agentic Enterprise
Siemens Frederik Janssen is an Agentic Enterprise CIO, Siemens Digital Industries % 18K 64K 100 1.2K+ sellers partners Personalized SDR hours connected lead outreach saved annually
Slide 16: Every app is agent ready; becoming a data company
Every app is agent ready We are transforming into a data company of the future
Slide 17: Models need trusted context
Models are brilliant but they don’t know your business They need trusted context
Slide 18: Get your data ready for AI
Data 360 @ Get your data ready for Al New for Informatica {@ Customer Name : e Informatica Headless GA Oct 26 Dimensions Latest Scores « ‘Validity (6) AI Governance 5% “ } GA Oct '26 Agentic Master Data Management Rule Occurrences (MDM) GA Nov’26 we : faster claim 3X processing time
Slide 19: Turn your data into trusted context
Turn your data into trusted context
Slide 20: Build a shared language to measure your business
Build a shared language to measure your business
Slide 21: Build trust into every layer of AI
Build trust into every layer of AI
Slide 22: Manage and govern every agent at scale
Manage and govern every agent at scale
Slide 23: All roles are changing
LOB Leaders run the business Knowledge Worker directs agents that execute work All roles are changing “a | Data Leader runs pipelines | and warehouses Governar manages b rules for
Slide 24: What is an Enterprise AI Harness?
What is an Enterprise AI Harness? AI Your Business Models Business Outcomes Grow revenue Understand Act Control Your data, context, Across systems, With governance, Customers Data Workflows customers and business apps, and security and Delight workflows trust customers Reduce costs Applications Govern
Slide 25: Salesforce powers the Agentic Enterprise
Salesforce powers ed the Agentic Enterprise Customer 360 OS be be oo eee Apps, Semantics Serece (a7 a2) (6288 B2C) Can & Workflow Intelligence Data 360 Integration, Federation & Harmonization CD invormatica @ ruteson GB AgontFobric 4 tobrcurnontedge MBE ntetdata attr Salesforce Guardian ; with Zero
Slide 26: Trusted Context, Actions, Agency, Security
Trusted Trusted Actions Trusted Trusted Context Agency Security Trusted Trusted Models Governance
Slide 27: Introducing Koa
Introducing Koa A new CRM reasoning model to power your digital workforce Built on NVIDIA NemotronTM Trained on 27 Fine-tuned on public Trusted by Matches or exceeds foundation years of workflows & synthetic data regulated industries model performance for CRM. 3x fewer errors. Source: Salesforce CRM
Slide 28: One AI Control Plane to manage your Agentic Enterprise
One AI Control Plane to manage your Agentic Enterprise Discover Govern Connect Control every AI asset through every agent, no matter agents to every system that AI spend across models a single registry where it's running powers your business and teams
Slide 29: Open ecosystem, composable and headless
Open ecosystem, composable and headless Trusted Trusted Actions Trusted Trusted Context Agency Security Trusted Trusted Models Governance
Slide 30: Your investments become your AI advantage
Your investments become your AI advantage Trusted Trusted Actions Trusted Trusted Context Agency Security Trusted Trusted Models Governance
Slide 31: Execution that Compounds
Execution that Compounds Miguel Milano President, Chief Operating Officer Alexa Vignone President, Chief Revenue Officer
Slide 32: Miguel Milano and Alexa Vignone
Miguel Milano Alexa Vignone President, President, Chief Operating Officer Chief Revenue Officer
Slide 33: We see increasingly strong demand
We have many We see different paths Customer increasingly to monetize AI success proves strong demand across our that AI makes and continue to portfolio, with Salesforce invest in GTM multiple more valuable capacity in commercial than ever top AI markets frameworks
Slide 34: Strong Momentum, AOV Reaccelerating
Strong Momentum, AOV Reaccelerating NNAOV growth vs AOV growth cRPO accelerating +14% YoY Lines not to scale - Don’t pull out your ruler Pipeline at record levels NNAOV growth Contract length increasing outpacing AOV growth Negative NNAOV growth More Sales, Service, Slack seats FY23-FY25 drove total
Slide 35: Monetizing the AI Opportunity
Monetizing the AI Opportunity Demand Driver How We Monetize | Example Products Customers 1 | Unlock New Categories of Knowledge Workers More Core Licenses 2 | Augment Employees with Agentic Use Cases Premium SKU Upgrades 3 | Deploy Customer-Facing Agentic Use Cases Agentforce & OOTB Agents 4 | Get D
Slide 36: Upgrade today & get more value from Salesforce
Upgrade today & get more value from Salesforce
Slide 37: Premium Bundle Mix
Monetizing the AI Opportunity Executing on premium upgrade motion with significant room to run Premium License Mix (Max, A1E, E1E) Premium License ARR 5% 60-80% Uplift on Average Selling Price License Mix $1B+ (ASP) of A1E Premium Bundle Mix 3% +1.4x Total ARR expansion for 1% customers upgrading to
Slide 38: The Adecco Group is an Agentic Enterprise
The Adecco Pierre Group Matuchet is an Agentic Enterprise SVP, Information Technology % % 2.6M 93 35 candidate less campaign recruiter time saved interactions prep time with Agentforce Piper Casey
Slide 39: Anthropic is an Agentic Enterprise
Anthropic Paul Smith is an Agentic Enterprise Chief Commercial % 60 1K 390K Officer faster deal monthly monthly cycles with active Slack Slack Slack channels searches
Slide 40: We see increasingly strong demand
We have many We see different paths Customer increasingly to monetize AI success proves strong demand across our that AI makes and continue to portfolio, with Salesforce invest in GTM multiple more valuable capacity in commercial than ever top AI markets frameworks
Slide 41: The Agentic Enterprise Opportunity
The Agentic Enterprise Opportunity Robin Washington President and Chief Operating and Financial Officer
Slide 42: Robin Washington
Robin Washington President and Chief Operating and Financial Officer
Slide 43: Financial Framework for the Agentic Enterprise
Financial Framework for the Agentic Enterprise Growth Drivers Operational Excellence Capital Allocation FY30 Revenue FY30 profitable growth Continued free cash framework of 50 flow expansion $63B+ Progress Report Strong NNAOV Investing to scale profitable, FY27 forecast 190% FCF re-accelerating organic
Slide 44: The opportunity is expanding
The opportunity is expanding Software spend doubles by 2030, new categories of knowledge workers $ 2.5T 56% $ of total soware 2.0T spend is AI-related by $ 35% CAGR 2030 1.5T AI Soware, AI Platform and Business AI Agents1 $ 1.0T $1.1T of incremental AI $ 0.5T spend from 2025 to 3% CAGR 2030 $ Non-
Slide 45: Salesforce powers the Agentic Enterprise
Salesforce powers the Agentic Enterprise . - Alforce Live Interface Agenitforce Digital Workforce ustomer 360 Apps, Semantics & Workflow Intelligence Data 360 Integration, Federation & Harmonization Salestorce Guardian with Zero Data Retention ANTHROP\C aws Google G@nvivia OpenAl
Slide 46: AI leaders build their businesses on Salesforce
AI leaders build their businesses on Salesforce 9 of the top 10 AI companies are building and betting their future on Salesforce +435% YoY ARR Growth Average Recurring Revenue from this cohort expanded 435% year-over-year. ~5 62% 100% Clouds Per Customer YoY CRM Seat Growth Slack Adoption And climbi
Slide 47: Agentic enterprise expansion in action
Agentic enterprise expansion in action High correlation of AI adoption in scaled growth customers across industries Automotive Customer Financial Services Customer Professional Services Customer $42M $15M Agentforce, premium $36M upgrades, & more ARR ARR Core licenses Agentforce, premium ARR Agentfo
Slide 48: Consumption flywheel driving ARR expansion
Monetizing the AI opportunity Consumption flywheel driving usage and unlocking ARR expansion Top 100 AWU Customers >2x ARR uplift in 18 ARR Uplift months since Agentforce launch ARR upli driven by AI, Outside of the top 100, Data 360, Customer 360 ARR grows meaningfully faster as customers scale the
Slide 49: Our vision of the AI opportunity
Our vision of the AI opportunity Multi-year journey underpinned by pace of innovation and expanding monetization pathways Agentic Enterprise 3x-4x+ ARR upli Adopts Agentforce Agentic wall to wall internally and externally Pre-Agentic 1.5x-2x Fundamental ARR upli Averages 3 clouds, 1.2x Adopts Agen
Slide 50: Financial Performance
salesforce Financial Performance
Slide 51: R&D Investments since FY24
$15B+ R&D Investments since FY24 Responsible M&A Framework
Slide 52: Slack is the best interface for the Agentic Enterprise
Slack is the best interface for the Agentic Enterprise Now introducing: Slack Code Slackbot in Channels Slack Revenue Slackbot Surfaces is accelerating Slackbot Live Revenue YoY Slackbot users up over 150% Q/Q ~2.5x increase since acquisition Leading AI companies run on Slack Q1’26 Q2’26 Q3’26 Q4’26
Slide 53: Our profitable growth is accelerating
Our profitable growth is accelerating Investing to win the agentic enterprise, while delivering profitability Growth drivers fuel acceleration Driving durable revenue growth & margin expansion Multi-Cloud Revenue Guidance Pricing & Packaging Upgrade Megacycle $46.4B Non-GAAP Operating Margin Balanced
Slide 54: Free cash flow fuels our future
Free cash flow fuels our future Profitable growth drives cash flow Free Cash Flow Expansion $15B Investing in our future Free cash flow $Bs Product Innovation On track to Strategic M&A 3x Go to Market Capacity $5B free cash flow since FY22 Dividends and Buybacks FY22 FY23 FY24 FY25 FY26 FY27E FY27 Free C
Slide 55: Capital Allocation
Capital Allocation Innovation | M&A | Capital Returns
Slide 56: Responsible M&A Framework
Responsible M&A Framework Accelerates Salesforce product differentiation strategy Customer Success & Best-in-class product with extensive ecosystem Strategic Fit Represents an attractive customer opportunity Strong ability to increase monetization Acceleration Cultural and organizational alignment Op
Slide 57: M&A Strategy drives innovation and growth
M&A Strategy drives innovation and growth Recent focus on Data, AI accelerators, and AI Labs Tech & Talent Adjacencies Scaled Complementary IP & Talent to augment products that accelerate Delivering scaled offerings Rationale innovation product roadmap for customer success Financial Future product an
Slide 58: Salesforce Ventures & AI Labs accelerates our innovation
Salesforce Ventures & BUILD AI Labs accelerates Invest internally in AI Labs incubation unit our innovation › › Portfolio approach empowers innovation at startup speed, ventures INVEST ACQUIRE grounded in Trust and Venture positions in Frontier talent and emerging AI categories cultural alignment Cu
Slide 59: Our biggest bet in FY27 is Salesforce
Our biggest bet in FY27 is Salesforce Capital returns underpin our confidence in the future Capital Returned Share buybacks ($M) Total dividends ($M) Accelerated Share Repurchase $60B+ $25B cumulative shareholder returns to date largest ASR ever Over 40% return on our investment $182 expected average
Slide 60: Confident in our path to $63B+
The $ future 63B+ Confident in our FY30 2 path to $ 63B+ The 40Bs The 50Bs 2 YEARS 2 YEARS The 30Bs 3 YEARS Sources: 1. Full Year FY27 Revenue guidance as of August 2026, reflecting the high end of the FY27 revenue guide of $46.1 to $46.4B. 2. Full year FY30 revenue target as of September 2026*, impl
Slide 61: Winning the Agentic Enterprise Opportunity
Winning the Agentic Enterprise Opportunity Defining the Agentic Execution that Compounds The Agentic Enterprise Enterprise Strong demand + accelerating GTM capacity Opportunity Four layers of our platform power Many paths to monetize AI across portfolio Financial framework on track the Agentic Enterp
Slide 62: Marc Benioff
Marc Benioff Chair and CEO
Slide 63: Thank you
Thank you
Slide 64: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes information about non-GAAP operating margin and free cash flow (collectively the "non-GAAP financial measures"). These non-GAAP financial measures are measurements of financial performance that are not prepared in accordance with U.S. generally acce
Slide 65: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Non-GAAP income from operations FY22 FY23 FY24 FY25 FY26 Full Year FY27 Guidance2 GAAP income from operations $ 548 $ 1,030 $ 5,011 $ 7,205 $ 8,331 GAAP Operating Margin 20.1 % Plus: Plus: Amortization of purchased intangibles 1,624 1,951 1,869