Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

9e24348659b601922d25c9a2a46406fe56eb8b76026ddb1e769ed3cf28f46907

c3187ae3a6199ee27156e27e899e42854b2ebf136b5a5525e6a9829cdefe040d

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

SG&A [USD, Millions]

R&D [USD, Millions]

D&A [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

EPS - Basic [USD, Per Share]

EPS - Diluted [USD, Per Share]

4b05a6f082fbb2e3959186c15947904026b35eae52d214ae20a10a57bbffdcfe

Remaining performance obligation (billions)

ca55ff7461b6c0e6096d6bda6ed376ec708aed80a6654c8d261d993805f5ad1a

Net income (USD, millions)

Depreciation and amortization (USD, millions)

Amortization of costs capitalized to obtain revenue contracts, net (USD, millions)

Stock-based compensation expense (USD, millions)

(Gains) losses on strategic investments, net (USD, millions)

Net cash provided by operating activities (USD, millions)

Business combinations, net of cash acquired (USD, millions)

Purchases of strategic investments (USD, millions)

Sales of strategic investments (USD, millions)

Purchases of marketable securities (USD, millions)

Sales of marketable securities (USD, millions)

Maturities of marketable securities (USD, millions)

Capital expenditures (USD, millions)

Net cash used in investing activities (USD, millions)

Repurchases of common stock (USD, millions)

Proceeds from employee stock plans (USD, millions)

Principal payments on financing obligations (USD, millions)

Payments of dividends (USD, millions)

Net cash used in financing activities (USD, millions)

Effect of exchange rate changes (USD, millions)

Net increase (decrease) in cash and cash equivalents (USD, millions)

Cash and cash equivalents, beginning of period (USD, millions)

Cash and cash equivalents, end of period (USD, millions)

719776f22352d53735ecbe930ae072fd711c5174ff0716dfd631858dde81fabb

Operating cash flow was so high in Q1 2025 because **Salesforce's net income increased dramatically** from **$199 million** in Q1 2024 to **$1,533 million** in Q1 2025, coupled with **improved changes in operating assets and liabilities**—notably a larger positive change in accounts receivable, an increase in stock-based compensation expense, and a more pronounced decrease in unearned revenue. Additionally, the company experienced an overall **39% year-over-year increase in operating cash flow**, which was partly attributed to the timing of cash tax payments.  **[0001108524-24-000009_crm-20240430.htm:4]** **[0001108524-24-000007_crm-q1fy25xexhibit991.htm:8]** **[CRM_3390992_6]** 

Why was Operating Cash Flow so high in Q1 2025?

The strong increase in operating cash flow in FY 2024 was driven by **several factors**. Primarily, there was a **substantial rise in net income** (**$4,136 million** in FY 2024 compared to **$208 million** in FY 2023) which had a critical impact. Additionally, **depreciation and amortization expenses** increased slightly, helping to boost cash flow because these non-cash expenses were added back. Adjustments in **working capital** also played a key role: a smaller negative change in **accounts receivable**, favorable contributions from **unearned revenue**, and a more positive impact from the amortization of costs capitalized to obtain revenue contracts all contributed to the rise. Together, these elements offset the decrease in stock-based compensation and the adverse impact from the change in accounts payable and accrued expenses.  **[0001108524-24-000005_crm-20240131.htm:100]** **[0001108524-24-000005_crm-20240131.htm:84]** 

What factors drove the strong increase in Operating Cash Flow in FY 2024?

What contributed to the jump in Free Cash Flow in Q1 2025?

The notable increase in Operating Cash Flow in Q4 2024 was driven by several key factors. **Higher Net Income** played a primary role—rising to **$4,136 million** from just **$208 million** in Q4 2023. This improvement was supported by **enhanced operating efficiency**, which was reflected in a significantly higher non-GAAP operating margin, and **growth in unearned revenue** by **$1,623 million** due to strong early renewals and new business performance. Additionally, there was a **reduction in stock-based compensation expense** (from **$3,279 million** to **$2,787 million**) and **better management of accounts receivable** (with a change of **$(659) million** compared to **$(995) million** in the prior period). These combined factors contributed to the improved cash flow in Q4 2024.  **[0001108524-24-000002_crm-q4fy24xexhibit991.htm:11]** **[0001108524-24-000002_crm-q4fy24xexhibit991.htm:16]** 

Why did Operating Cash Flow show a notable increase in Q4 2024?

7117080afdd438737547e07a893673449a079330958ca093cff50d5b0b9121ad

Salesforce’s cash and cash equivalents spiked to **$9,155 million in Q1 2024** primarily due to a significant increase in operating cash flow and positive contributions from investing activities. During this quarter, Salesforce generated **$4,491 million** in net cash from operating activities—a **22% year-over-year increase**—reflecting strong revenue growth and disciplined cost management. Additionally, a net cash inflow of **$347 million** from investing activities further boosted its cash position, despite a net outflow of **$2,716 million** from financing activities. Collectively, these factors drove the overall increase of **$2,139 million** in cash and cash equivalents for the quarter.  **[0001108524-23-000023_crm-20230430.htm:34]** **[0001108524-23-000023_crm-20230430.htm:5]** 

Why did cash and cash equivalents spike to 9,155 in Q1 2024?

The increase to **98,849 million USD** in Q4 2023 was primarily driven by a **rise in current assets**—with significant increases in **cash and cash equivalents (from 5,464 to 7,016 million USD)** and **accounts receivable, net (from 9,739 to 10,755 million USD)**—as well as an increased investment in **property and equipment, net (from 2,815 to 3,702 million USD)** and a slight increase in **goodwill**. These growth factors were partially offset by declines in **intangible assets acquired through business combinations** and **strategic investments**, reflecting Salesforce's overall operational growth and investment in its asset base during the period.  **[0001108524-23-000007_crm-q4fy23xexhibit991.htm:9]** 

What drove total assets to reach 98,849 in Q4 2023?

The dramatic decrease in current debt to **181 million USD** in Q1 2024 compared to **1,182 million USD** in Q4 2023 is primarily due to the complete repayment of the **2023 Senior Notes** during the quarter.  **[0001108524-23-000023_crm-20230430.htm:2]** **[0001108524-23-000023_crm-20230430.htm:24]** 

Why is current debt dramatically lower at 181 in Q1 2024?

2e9cb0f88303748e3c9100975eb32160a232ab3a0290919647b64d1965b8c9fd

Subscription and Support

- Sales

- Service

- Platform and Other

- Marketing and Commerce

- Integration and Analytics

- Data

Professional Services and Other

Total Revenue

d17649ef5065f81478831aa3b08c4c7be3794e27738203635056e9f780ce6b0a

Americas

- United States

Europe

Asia Pacific

9bd37d89e92f28a7dc06607f43c5e24389b8266a34f4e1f9407d49d62d0f53af

Total Revenues (USD, millions)

Subscription and Support Revenues (USD, millions)

Professional Services and Other Revenues (USD, millions)

Total Cost of Revenues (USD, millions)

Subscription and Support Cost of Revenues (USD, millions)

Professional Services and Other Cost of Revenues (USD, millions)

Gross Profit (USD, millions)

Total Operating Expenses (USD, millions)

Research and Development Expenses (USD, millions)

Sales and Marketing Expenses (USD, millions)

General and Administrative Expenses (USD, millions)

Restructuring Expenses (USD, millions)

Income from Operations (USD, millions)

Gains (Losses) on Strategic Investments, Net (USD, millions)

Other Income (USD, millions)

Income Before Provision for Income Taxes (USD, millions)

Provision for Income Taxes (USD, millions)

Net Income (USD, millions)

Basic Net Income per Share (USD)

Diluted Net Income per Share (USD)

63706707ebf4873d00b4e37d9bf9cd156a45a3957098ac2f109bf9eba9f555fa

Cash and cash equivalents (USD, millions)

Marketable securities (USD, millions)

Accounts receivable, net (USD, millions)

Costs capitalized to obtain revenue contracts, net (USD, millions)

Prepaid expenses and other current assets (USD, millions)

Total current assets (USD, millions)

Property and equipment, net (USD, millions)

Operating lease right-of-use assets, net (USD, millions)

Noncurrent costs capitalized to obtain revenue contracts, net (USD, millions)

Strategic investments (USD, millions)

Goodwill (USD, millions)

Intangible assets acquired through business combinations, net (USD, millions)

Deferred tax assets and other assets, net (USD, millions)

Total assets (USD, millions)

Accounts payable, accrued expenses and other liabilities (USD, millions)

Operating lease liabilities, current (USD, millions)

Unearned revenue (USD, millions)

Total current liabilities (USD, millions)

Noncurrent debt (USD, millions)

Noncurrent operating lease liabilities (USD, millions)

Other noncurrent liabilities (USD, millions)

Total liabilities (USD, millions)

Common stock (USD, millions)

Treasury stock, at cost (USD, millions)

Additional paid-in capital (USD, millions)

Accumulated other comprehensive loss (USD, millions)

Retained earnings (USD, millions)

Total stockholders’ equity (USD, millions)

Total liabilities and stockholders’ equity (USD, millions)

960d3d025244a491fc1e29ab8d73a670a6e4fd86efebd4b0ef8c59891cc44a03

Salesforce Inc (CRM)

Financials