Total Remaining Performance Obligation $63B, up 11% Y/Y; Operating Cash Flow $13B, up 28% Y/Y

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SAN FRANCISCO — February 26, 2025 – Salesforce (NYSE: CRM), the world’s #1 AI CRM, today announced results for its fourth quarter and full fiscal year ended January 31, 2025.

FY25 Agentforce & Data Cloud

• $900 million Data Cloud & AI annual recurring revenue, up 120% year-over-year (“Y/Y”)
• Since October, closed 5,000 Agentforce deals, including more than 3,000 paid  
• Data Cloud surpassed 50 trillion records, which doubled Y/Y
• Nearly half of the Fortune 100 are both AI & Data Cloud customers, and all of our top 10 wins in Q4 included Data and AI
• On help.salesforce.com, Agentforce has handled 380,000 conversations, achieving an 84% resolution rate, with only 2% of the requests requiring human escalation

FY25 Results

• Fourth quarter revenue of $10.0 billion, up 8% Y/Y, up 9% in constant currency (“CC”), inclusive of subscription & support revenue of $9.5 billion, up 8% Y/Y, up 9% in CC
• Current remaining performance obligation of $30.2 billion, up 9% Y/Y, up 11% in CC
• Total remaining performance obligation of $63.4 billion, up 11% Y/Y
• FY25 revenue of $37.9 billion, up 9% both Y/Y & in CC, inclusive of subscription & support revenue of $35.7 billion, up 10% both Y/Y & in CC
• FY25 GAAP operating margin of 19.0% and non-GAAP operating margin of 33.0%
• FY25 operating cash flow of $13.1 billion, up 28% Y/Y, and free cash flow of $12.4 billion, up 31%  Y/Y 
• Returned $7.8 billion in the form of share repurchases and $1.5 billion in dividend payments to stockholders; total cash returned to stockholders of $9.3 billion in FY25

Full Year FY26 Guidance

• Initiates revenue guidance of $40.5 billion to $40.9 billion, up 7% – 8% both Y/Y & in CC
• Initiates subscription & support revenue growth guidance of approximately 8.5% Y/Y & approximately 9% in CC
• Initiates GAAP operating margin guidance of 21.6% and non-GAAP operating margin guidance of 34.0%
• Initiates operating cash flow growth guidance of approximately 10% to 11% Y/Y

“We had an incredible quarter and year, with strong performance across all our key metrics, including the highest cash flow in our company’s history and more than $60 billion in RPO,” said Marc Benioff, Chair and CEO, Salesforce. “No company is better positioned than Salesforce to lead customers through the digital labor revolution. With our deeply unified platform, seamlessly integrating our Customer 360 apps, Data Cloud and Agentforce, we’re already delivering unprecedented levels of productivity, efficiency and cost savings for thousands of companies.”

No company is better positioned than Salesforce to lead customers through the digital labor revolution.

“We closed out the year with strong results and our relentless focus on profitable growth drove record-breaking revenue, margin, and cash flow, setting a strong foundation for the company into FY26” said Amy Weaver, President and CFO. “Our capital return program continued to deliver incredible value to our shareholders, returning $21 billion since inception.” 

Guidance

The following is a reconciliation of GAAP operating margin guidance to non-GAAP operating margin guidance for the full year:

The following is a per share reconciliation of GAAP diluted net income per share to non-GAAP diluted net income per share guidance for the next quarter and the full year:

For additional information regarding non-GAAP financial measures see the reconciliation of results and related explanations below.

Management will provide further commentary around these guidance assumptions on its earnings call.

Product Releases and Enhancements

Three times a year Salesforce delivers new product releases, services, or enhancements to current products and services. These releases are a result of significant research and development investments made over multiple years, designed to help customers drive cost savings, boost efficiency, and build trust.

To learn more about our newest innovations and product release highlights, including our latest Spring 2025 Product Release, visit: www.salesforce.com/releases.

Environmental, Social, and Governance (ESG) Strategy

To learn more about our latest initiatives and priorities, review our Stakeholder Impact Report: https://salesforce.com/stakeholder-impact-report.

Quarterly Conference Call 

Salesforce plans to host a conference call at 2:00 p.m. (PT) / 5:00 p.m. (ET) to discuss its financial results with the investment community. A live webcast and replay details of the event will be available on the Salesforce Investor Relations website at www.salesforce.com/investor. 

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