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📊 View earnings presentation

📄 Source: Salesforce Q4 FY2026 press release

⚡ Q/Q Change Highlights

Q4 revenue $11.2B, +12% YoY (Q1 FY27: $11.13B, +13%) — steady double-digit growth
FY26 revenue $41.5B, +10% YoY; RPO >$72B, +14% YoY → Q1 FY27 CRPO $33.6B (+14%)
OCF $15B FY26 (record) → Q1 FY27 OCF $6.7B
Agentforce + Data 360 ARR $2.9B, +200% YoY → Q1 FY27: Agentforce ARR >$1B, AI+Data ARR $3.4B — the AI engine compounding
FY30 revenue target raised to $63B (11% CAGR) — sets the long-term growth frame
Q1 FY27 (next print) showed the AI monetization step-up (28.6T tokens, 3.8B agentic work units)

🎙️ CRM — Feb 25, 2026

📄 Original Transcript

Salesforce (CRM) Q4 FY2026 Earnings Call — February 25, 2026

Source: Salesforce Q4 FY2026 press release (Feb 25, 2026) + Yahoo Finance/Quartr transcript summary.

Marc Benioff (CEO): Salesforce delivered a record fourth quarter and full fiscal year, and we are proud to be the world's #1 AI CRM. Our fourth quarter and full-year results exceeded expectations, driven by continued innovation and customer momentum across our AI platform.

We delivered record fourth-quarter revenue of $11.2 billion, up 12% year over year, and full fiscal year 2026 revenue of $41.5 billion, up 10% year over year. Our remaining performance obligation (RPO) exceeded $72 billion, up 14% year over year, and we generated $15 billion of operating cash flow for the full year.

Agentforce and Data 360 continue to drive our AI momentum, with combined ARR surging to $2.9 billion, up over 200% year over year. AI is transforming every aspect of how our customers run their businesses, and Salesforce is uniquely positioned as the #1 AI CRM.

Given our strong results and confidence in the business, we are raising our long-term revenue target: we now expect to reach $63 billion of revenue by fiscal 2030, representing an 11% CAGR, with continued operating margin expansion.

Amy Weaver (CFO): Our fourth quarter revenue was $11.2 billion, up 12% year over year, with subscription and support revenue of $10.7 billion, up 12% year over year. GAAP diluted earnings per share was $2.07, and we delivered strong operating cash flow of $15 billion for the full fiscal year.

RPO exceeded $72 billion, up 14% year over year, driven by continued strength in multi-cloud adoption and Agentforce traction. We continued our disciplined capital allocation, and we are confident in our ability to deliver durable double-digit growth and expanding margins.

Q&A Highlights (condensed)

Q: Agentforce momentum and monetization? A: Agentforce and Data 360 ARR grew to $2.9B, up over 200% YoY; AI-driven products are driving expansion and new logo acquisition across the installed base.
Q: FY30 target raise? A: Raised FY30 revenue target to $63B (11% CAGR), reflecting confidence in the AI opportunity and multi-cloud expansion, with operating margin expansion continuing.
Q: RPO durability? A: RPO of $72B+, up 14% YoY, supported by strong renewal rates, multi-cloud attach, and Agentforce cross-sell; currency-neutral growth remains durable.
Q: Capital allocation? A: Strong operating cash flow ($15B FY26) supports continued investment plus shareholder returns; disciplined approach maintained.

📝 Summary

CRM (Salesforce) — Q4 FY2026 (Feb 25, 2026). Record quarter; RPO >$72B; FY30 revenue target raised to $63B; Agentforce + Data 360 ARR $2.9B (+200% YoY).

Results

Q4 revenue $11.2B, +12% YoY; subscription & support $10.7B (+12%)
GAAP diluted EPS $2.07; FY26 GAAP net income $7.46B
RPO >$72B, +14% YoY; FY26 OCF $15B (record)
FY26 revenue $41.5B, +10% YoY; subscription & support 95% of revenue
Agentforce + Data 360 ARR $2.9B, +200% YoY — AI momentum accelerating

Guidance

FY30 revenue target raised to $63B (11% CAGR) with continued operating margin expansion
FY26 results beat; focus on durable double-digit growth, margin expansion, and AI-driven expansion

Capex

Not a capex-heavy model; $15B OCF FY26 funds investments + shareholder returns; capital-light software model

Key Q&A

Q: Agentforce momentum?
A: Agentforce + Data 360 ARR $2.9B (+200% YoY); AI driving expansion and new logos
Q: FY30 raise?
A: $63B target (11% CAGR) on AI opportunity + multi-cloud; margin expansion continues
Q: RPO durability?
A: $72B+ (+14% YoY) on renewals, multi-cloud attach, Agentforce cross-sell
Q: Capital allocation?
A: Record $15B OCF supports investment + returns; disciplined

Notes

Q4 FY26 = record close to fiscal 2026: RPO >$72B, $15B OCF, and a raised FY30 target ($63B) — the "number 1 agentic CRM" positioning began consolidating here
Agentforce/Data 360 ($2.9B ARR, +200%) is the core of the bull case; the agentic-AI monetization narrative fully formed by the Q1 FY27 print
Watch: subscription growth vs the large installed base, and whether AI ARR converts into durable subscription reacceleration (the Q1 FY27 reacceleration debate began at the next print)