Slide 1: Salesforce Q1 FY26 Earnings Call
Salesforce Q1 FY26 Earnings Call May 28, 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: Marc Benioff and Robin Washington
Marc Benioff Chair and CEO Robin Washington President and Chief Operating and Financial Officer 4
Slide 5: Salesforce has not yet closed Informatica acquisition
Salesforce has not yet closed its proposed acquisition of Informatica, and this view is reflective of the complementary fit upon closing. 5
Slide 6: Salesforce has not yet closed Informatica acquisition
Salesforce has not yet closed its proposed acquisition of Informatica. 6
Slide 7: Q1 FY26 Highlights
Q1 FY26 Highlights Marc Benioff Chair and CEO 7
Slide 8: FY26 Guidance Summary
FY26 Non-GAAP Operating 34% Margin Guidance 41.0B $ to $ 41.3B FY26 Total Revenue Guidance FY26 Q1 9.8B Revenue $ 6.5B FY26 Q1 Operating Cash Flow 10% 11% to FY26 Operating Cash Flow Guidance $1B+ Data Cloud + AI ARR (+120% Y/Y) 8
Slide 9: Customer highlights
salesforce Become an ce Company. . * 1-800 o@ E> e@ ACCOUNTANT FINNAIR Highlights ap + §M smartsheet > GD ; St 9
Slide 10: Q1 FY26 Highlights & Guidance
Q1 FY26 Highlights & Guidance Robin Washington President and Chief Operating and Financial Officer 10
Slide 11: CFO Priorities
COFO Priorities 1 2 3 Deliver Drive Responsible customer operational capital success & excellence to allocation accelerate AI maximize adoption shareholder value CORE VALUES TRUST | CUSTOMER SUCCESS | INNOVATION | EQUALITY | SUSTAINABILITY 11
Slide 12: Q1 FY26 Financial Results
Q1 FY26 Financial Results Top Line Profit & Cash Subscription & GAAP Operating Non-GAAP Revenue Support Revenue cRPO Margin Operating Margin $ 9.8B $ 9.3B $ 29.6B 19.8% 32.3% +8% Y/Y, +8% Y/Y CC +8% Y/Y, +9% Y/Y CC +12% Y/Y, +11% Y/Y CC Operating Free Cash Cash Flow Flow Q1 Revenue Disaggregation $
Slide 13: Q1 FY26 Non-GAAP Expense Profile
Q1 FY26 Non-GAAP Expense Profile Non-GAAP % of Revenue 68% 66% 67% 67% 68% +110bps 20% 20% GAAP 12% Operating ⬤ Cost of Revenues 12% ⬤ Research & Development Margin ⬤ Sales & Marketing ⬤ General & Administrative Expansion Y/Y 30% 30% 6% 6% +20bps Operating Margin Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Non-GA
Slide 14: Full-Year FY26 Guidance Summary
Full-Year FY26 Guidance Summary Current Guidance Prior Guidance $41.0B - $41.3B $40.5B - $40.9B Revenue ▲ 8% - 9%Y/Y 7% - 8% Y/Y Approximately 8% Y/Y CC, $250M Y/Y FX 7% - 8% Y/Y CC, ($150M) Y/Y FX Subscription & Support Revenue Growth ▲ Approximately 9.5% Y/Y Approximately 9% Y/Y CC Approximately 8
Slide 15: Q2 FY26 Guidance Summary
Q2 FY26 Guidance Summary Current Guidance $10.11B - $10.16B Revenue 8% - 9%Y/Y 7% - 8% Y/Y CC, $100M Y/Y FX GAAP Diluted EPS $1.80 - $1.82 Non-GAAP Diluted EPS $2.76 - $2.78 cRPO Growth Approximately 10% Y/Y Approximately 9% Y/Y CC, $300M Y/Y FX Guidance reflects a consistent demand environment and
Slide 16: Q&A
Q&A 16
Slide 17: Thank you
salesforce Thank you
Slide 18: Appendix
* ©. Appendix used
Slide 19: Subscription & Support Growth Trends
Subscription & Support Growth Trends Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26* Subscription & Support Revenue Y/Y Growth in Constant Currency Sales 11% 10% 11% 9% 7% Service 11% 11% 10% 9% 7% Platform and Other 10% 10% 8% 12% 14% Marketing and Commerce 10% 7% 8% 8% 4% Integration and Analytics 25% 14% 5%
Slide 20: Q1 FY26 Revenue Growth by Region in CC
Q1 FY26 Revenue Growth by Region in CC EMEA Americas $ $ 2.3B APAC 6.5B 9% 7% $ 1.0B 11% Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26* Americas 11% 8% 6% 8% 7% EMEA 9% 11% 9% 7% 9% APAC 21% 16% 14% 14% 11% GEO growth anchored by UK, France, Canada, and South Asia *Q1 FY26 revenue includes (~1pt) leap year hea
Slide 21: Q1 FY26 Key Balance Sheet and Cash Flow Metrics Trends
Q1 FY26 Key Balance Sheet and Cash Flow Metrics Trends Q1’ 25 Q2’ 25 Q3’ 25 Q4’ 25 Q1’ 26 Total RPO 15% 15% 10% 11% 13% cRPO 10% 10% 10% 9% 12% cRPO (in CC) 10% 11% 10% 11% 11% cRPO FX $M (Headwind) / Tailwind ($200M) ($300M) $100M ($300M) $300M Operating Cash Flow 39% 10% 29% 17% 4% Free Cash Flow
Slide 22: Capital Returned to Shareholders
In Q1 FY26, $3.1B Capital Returned to Shareholders Capital Returns $22.1B ⬤ Dividends $4.7B Repurchased Since ⬤ Share Repurchases Inception of Total $30B Authorized $3.1B $1.9B $2.6B Quarterly Dividend Payments to Date Increased Q1 FY26 $1.6B Dividend +4% Q/Q $0.5B (2)% Y/Y Q1 FY26 Diluted Share Cou
Slide 23: 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 constant currency revenue and constant currency current remaining performance obligation gro
Slide 24: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Three Months Ended April 30, Full Year FY26 Non-GAAP income from operations 2024 2025 Non-GAAP operating margin Guidance GAAP income from operations $ 1,709 $ 1,942 GAAP operating margin2 21.6 % Plus: Plus: Amortization of purchased intangibles
Slide 25: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Period Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Revenue 9,133 9,325 9,444 9,993 9,829 GAAP Cost of Revenues 2,162 2,159 2,150 2,217 2,265 Less: Amortization of purchased intangibles 238 231 131 150 162 Stock-based compensation expense1 119 132 1