Slide 1: Salesforce Q2 FY26 Earnings Call
Salesforce Q2 FY26 Earnings Call September 3, 2025 NYSE: CRM @Salesforce_ir
Slide 2: Introduction
Introduction Mike Spencer Executive Vice President of Investor Relations 2
Slide 3: Safe Harbor and Note About Non-GAAP Financial Measures
Safe Harbor and Note About Non-GAAP Financial Measures "Safe harbor" statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about the Company’s financial and operating results and guidance which include, but are not limited to, exp
Slide 4: Q2 FY26 Highlights
Q2 FY26 Highlights Marc Benioff Chair and CEO 4
Slide 5: Q2 FY26 Highlights
salesforce 34.1% $1.2B+ Data Cloud FY26 Non-GAAP Operating Margin + AL ARR + Guidance +120% Y/Y up @ SIO.2B Wy 12500. FY26 Q2 closed since Revenue to $41.3B FY26 Total Revenue Guidance . . FY26 Operating Financial Guidance Results .”
Slide 6: Highlights
salesforce Become an rise. Highlights
Slide 7: Q2 FY26 Highlights & Guidance
Q2 FY26 Highlights & Guidance Robin Washington President and Chief Operating and Financial Officer 7
Slide 8: Q2 FY26 Financial Results
Q2 FY26 Financial Results Top Line Profit & Cash Subscription & GAAP Operating Non-GAAP Revenue Support Revenue cRPO Margin Operating Margin $10.2B $9.7B $29.4B 22.8% 34.3% +10% Y/Y, +9% Y/Y CC +11% Y/Y, +9% Y/Y CC +11% Y/Y, +10% Y/Y CC Operating Free Cash Cash Flow Flow Subscription & Support Reven
Slide 9: Customer Zero for the Agentic Enterprise
Customer Zero for the Agentic Enterprise re ae : Employee Experience Techforce help.salesfo: o 24/7 instant support HR Support Enable Sellers Sales ‘) Live with 7 languages (Y) 1.4M conversations SDR Deploying use cases across the business to unlock efficiency and drive productivity
Slide 10: In Q2 FY26, $2.6B Capital Returned to Shareholders
In Q2 FY26, $2.6B Capital Returned to Shareholders Capital Return $4.7B $24.3B ⬤ Dividends ⬤ Share Repurchases Repurchased Since Inception of Total $50B Authorized $3.1B $2.6B $2.3B Quarterly Dividend Payments Since Inception $1.6B (1)% Y/Y Q2 FY26 Diluted Share $0.5B Count Down (11M) Y/Y Continued
Slide 11: Full-Year FY26 Guidance Summary
Full-Year FY26 Guidance Summary Current Guidance Prior Guidance $41.1B - $41.3B $41.0B - $41.3B Revenue ▲ 8.5% - 9% Y/Y 8% - 9% Y/Y Approximately 8% Y/Y CC, $300M Y/Y FX Approximately 8% Y/Y CC, $250M Y/Y FX Subscription & Support Revenue Growth HOLD Approximately 9.5% Y/Y Approximately 9.5% Y/Y App
Slide 12: Q3 FY26 Guidance Summary
Q3 FY26 Guidance Summary Current Guidance $10.24B - $10.29B Revenue 8% - 9% Y/Y 8% Y/Y CC, $75M Y/Y FX GAAP Diluted EPS $1.60 - $1.62 Non-GAAP Diluted EPS $2.84 - $2.86 Slightly above 10% Y/Y cRPO Growth Slightly above 9% Y/Y CC, $300M Y/Y FX 12
Slide 13: Q&A
Q&A Marc Benioff Robin Washington Miguel Milano Srini Tallapragada Chair and CEO President and Chief Operating President and Chief Revenue President and Chief Engineering and Financial Officer Officer and Customer Success Officer 13
Slide 14: Thank you
salesforce Thank you
Slide 15: Appendix
* ©. Appendix used
Slide 16: Subscription & Support Growth Trends
Subscription & Support Growth Trends Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26 Q2’ 26 Subscription & Support Revenue Y/Y Growth in Constant Currency Sales 11% 10% 11% 9% 7% 8% Service 11% 11% 10% 9% 7% 8% Platform and Other 10% 10% 8% 12% 14% 16% Marketing and Commerce 10% 7% 8% 8% 4% 3% Integration and An
Slide 17: Q2 FY26 Revenue Growth by Region in Constant Currency
Q2 FY26 Revenue Growth by Region in Constant Currency EMEA Americas $2.4B $6.7B APAC 7% 9% $1.1B 11% Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26 Q2’ 26 Americas 11% 8% 6% 8% 7% 9% EMEA 9% 11% 9% 7% 9% 7% APAC 21% 16% 14% 14% 11% 11% Q2 regional bookings growth anchored by the U.S., Netherlands, and Switzerla
Slide 18: Q2 FY26 Key Balance Sheet and Cash Flow Metrics Growth Rate Trends
Q2 FY26 Key Balance Sheet and Cash Flow Metrics Growth Rate Trends Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26 Q2’ 26 Total RPO 15% 15% 10% 11% 13% 12% cRPO 10% 10% 10% 9% 12% 11% cRPO (in Constant Currency) 10% 11% 10% 11% 11% 10% cRPO FX $M (Headwind) / Tailwind ($200M) ($300M) $100M ($300M) $300M $300M Op
Slide 19: Q2 FY26 Non-GAAP Expense Profile
Q2 FY26 Non-GAAP Expense Profile Non-GAAP % of Revenue 66% 67% 67% 68% 66% +370bps 19% 19% GAAP Operating ⬤ Cost of Revenues 11% 12% ⬤ Research & Development Margin ⬤ Sales & Marketing ⬤ General & Administrative Expansion Y/Y 29% 29% 7% 6% +60bps Operating Margin Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Non-GA
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes information about non-GAAP diluted earnings per share, non-GAAP income from operations, non-GAAP expenses, non-GAAP operating margin, free cash flow and free cash flow growth, constant currency revenue and revenue growth rates, and constant curr
Slide 21: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Three Months Ended July 31, Full Year FY26 Non-GAAP income from operations 2024 2025 Non-GAAP operating margin Guidance GAAP income from operations $ 1,783 $ 2,332 GAAP operating margin2 21.2 % Plus: Plus: Amortization of purchased intangibles
Slide 22: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Period Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Revenue 9,325 9,444 9,993 9,829 10,236 GAAP Cost of Revenues 2,159 2,150 2,217 2,265 2,242 Less: Amortization of purchased intangibles 231 131 150 162 150 Stock-based compensation expense1 132 135