Total Revenue

+7.6% (from $9,287M to $9,993M)

Revenue expansion was primarily driven by the strong performance in the recurring subscription and support business, which now represents about 94.6% of total revenue, reflecting both new customer acquisitions and robust upgrade activity compared to the previous period. " "

Operating Income

+12.2% (from $1,622M to $1,820M)

The improvement in operating income is attributed to disciplined expense management and improved gross margins, bolstered by the successful shift toward high-margin, multi-cloud deals and operational efficiencies that built on the prior period’s foundation. " "

Net Income

+18% (from $1,446M to $1,708M)

This strong increase results from a combination of higher revenues and effective cost control, which boosted profitability compared to the previous period; lower restructuring and additional operational improvements played key roles. " "

EPS (Basic)

+19% (from $1.49 to $1.78)

The Basic EPS rose significantly due to the increased net income and enhanced operating efficiency, reflecting both the successful transition to a recurring revenue model and the cost controls implemented in the previous period. " "

Americas Revenue

+8% (from $6,176M to $6,660M)

Americas performance benefitted from increased sales resource investments and strong multi-cloud deal momentum, building on prior success to drive new business and upselling opportunities in key markets. " " " "

Europe Revenue

+5.8% (from $2,205M to $2,334M)

The moderate growth in Europe is driven by rigorous international marketing efforts and improved resource deployment, although the growth rate remains lower compared to other regions, reflecting some regional market constraints relative to the previous period. " " "

Asia Pacific Revenue

+10.2% (from $906M to $999M)

Asia Pacific showed robust expansion, fueled by increased market penetration, enhanced marketing investments, and a strong pipeline of multi-cloud deals—factors that accelerated growth beyond the earlier period’s performance. " " "

Subscription and Support Revenue

Increased share from 93% to 94.6% of total revenue; absolute value ~$9,451M

The subscription and support segment drove overall revenue growth through volume-driven increases—including new subscriptions, customer upgrades, and ongoing support—highlighting the successful shift to a recurring model that builds on the previous period’s momentum. " "

Revenue (Quarterly)

Q1 2026

no prior guidance

Expected to be $9.71 billion to $9.76 billion, representing 6%-7% year-over-year growth in nominal currency and 7% in constant currency. "

no prior guidance

Current Remaining Performance Obligation (cRPO)

Q1 2026

no prior guidance

Expected to grow approximately 10% year-over-year in nominal currency, including a $100 million FX headwind, resulting in slightly above 10% growth in constant currency. "

no prior guidance

GAAP EPS (Quarterly)

Q1 2026

no prior guidance

Expected to be $1.49 to $1.51. "

no prior guidance

Non-GAAP EPS (Quarterly)

Q1 2026

no prior guidance

Expected to be $2.53 to $2.55. "

no prior guidance

Revenue (Annual)

FY 2026

no prior guidance

Expected to be $40.5 billion to $40.9 billion, representing 7%-8% year-over-year growth in both nominal and constant currency. "

no prior guidance

Subscription and Support Revenue Growth (Annual)

FY 2026

no prior guidance

Subscription and support revenue expected to grow 9% year-over-year in constant currency. "

no prior guidance

Non-GAAP Operating Margin (Annual)

FY 2026

no prior guidance

Expected to be 34%, representing a 100 basis point expansion year-over-year. "

no prior guidance

GAAP Operating Margin (Annual)

FY 2026

no prior guidance

Expected to be 21.6%, representing a 250 basis point improvement year-over-year. "

no prior guidance

GAAP Diluted EPS (Annual)

FY 2026

no prior guidance

Expected to be $6.95 to $7.03. "

no prior guidance

Non-GAAP Diluted EPS (Annual)

FY 2026

no prior guidance

Expected to be $11.09 to $11.17. "

no prior guidance

Operating Cash Flow Growth (Annual)

FY 2026

no prior guidance

Expected to grow approximately 10% to 11% year-over-year. "

no prior guidance

Free Cash Flow Growth (Annual)

FY 2026

no prior guidance

Expected to grow approximately 9% to 10% year-over-year. "

no prior guidance

Capital Expenditures (CapEx) (Annual)

FY 2026

no prior guidance

Expected to be approximately 2% of revenue. "

no prior guidance

Attrition (Annual)

FY 2026

no prior guidance

Expected to remain consistent at slightly above 8% for the full year. "

no prior guidance

Agentforce

In Q3 and Q2, Agentforce was introduced as a transformative platform that drove early deals, efficiency gains, and showcased rapid customer adoption (e.g., over 200 deals in Q3, early successes with customers like Wiley and OpenTable). " " " " " Q1 did not mention Agentforce.

Q4 emphasized mass adoption with thousands of brands using Agentforce, robust ROI metrics (e.g., 3,000 paying customers in 90 days, high resolution rates internally) and integration across the unified platform. " " " " "

Increased emphasis and accelerated adoption.

Evolution to AI-driven, Consumption-based Models

Q1 introduced the shift with new pricing models (e.g., UE Plus combining per-user and consumption pricing). Q2 and Q3 detailed the transformation—presenting Agentforce as a usage-based solution, digital labor innovation, and cost efficiencies over traditional SaaS. " " "

Q4 continued to stress the integration of AI, data, and agents (the “trinity”) with consumption-based pricing models now featuring in Agentforce and Data Cloud, along with a halo effect on core products. " " " "

Continued and deepening evolution with stronger ROI focus.

Data Cloud & Unified Platform

Q1 highlighted Data Cloud’s role as a unified source of truth and its rapid record ingestion with the Zero Copy Partner Network. " Q2 and Q3 emphasized the consolidation of customer data, multi-cloud integration, and its inclusion in key large deals. " " "

Q4 celebrated the expansion of Data Cloud with $900 million in ARR and described its role as a network effect, integrating seamlessly with Agentforce and Tableau on the unified platform. " " "

Sustained growth with increasingly strategic integration.

Leadership Transition

Not mentioned in Q1 and Q3; in Q2 there was discussion about CFO transition (Amy Weaver’s planned departure). " "

In Q4, significant leadership changes were announced with the departure of long-time executives and the appointment of Robin Washington as COFO, alongside management rebalancing. " "

Emerging concern with notable management changes impacting stability.

Competitive Pressures & Technological Challenges

Q1 and Q2 discussions highlighted challenges such as customer frustration with DIY AI, integration complexities, and competitive comparisons (e.g., criticism of Microsoft’s offerings). " " " " "

Q4 did not offer specific commentary on competitive pressures or technological challenges [document].

Reduced explicit focus in Q4 compared to earlier periods.

Data Integration Challenges

Q1 emphasized the need for unified, normalized data to power AI, citing challenges with fragmented sources. Q2 and Q3 addressed harmonization timelines and integration issues across data silos, underscoring the value of the Data Cloud and associated partner network. " " " "

Q4 reinforced the critical role of data integration by noting that successful AI relies on robust data, with mention of external data ingestion via the Zero Copy Partner Network (25% of Data Cloud records). "

Reinforced focus with increased detail and continuity.

Regional Revenue Constraints & Measured Buying Environment

Q1 reported a measured buying environment impacting regions like EMEA and the Americas, with elongated deal cycles. Q2 cited constraints in the U.S. and parts of EMEA, and Q3 provided regional growth contrasts (strong APAC vs. constrained U.S. and parts of EMEA). " " "

Q4 detailed continued constraints in parts of EMEA and stabilization in the U.S., with additional insights into sector-specific buying behaviors (e.g., tech, manufacturing versus health and life sciences). "

Consistent challenge with nuanced regional variations.

Profitability, Capital Discipline & Shareholder Value

Q1 showcased strong operating margins, capital returns (share repurchases and dividends) and set expectations for margin improvements. Q2 and Q3 reinforced these achievements with record non‐GAAP margins, robust free cash flow, and growing shareholder returns. " " " "

Q4 reaffirmed a profitability focus with a 33% non‐GAAP operating margin, significant share repurchases, and record operating cash flow, indicating disciplined capital management and commitment to shareholder value. " "

Steady and improving focus on profitability and disciplined capital management.

International Expansion & Verticalization

Q1 highlighted geographic wins (e.g., in Japan, Canada, LATAM) and strong vertical adoption with industry clouds, while Q2 and Q3 provided further evidence with international deals and targeted industry-specific solutions (e.g., in regulated sectors). " " " "

Q4 maintained the international expansion narrative with nearly half of top 100 wins being international, and emphasized vertical strategies with specialized Agentforce industry skills and tailored solutions across sectors. "

Sustained and expanding global reach and industry specialization.