Interprétation IA fondée sur des extraits vérifiés. Les déclarations de l’entreprise et les limites de couverture restent explicites.
Preuves
Our platform provides the essential “landing zone” for agents, integrating trusted data, business logic, and secure workflows.
CEO letter / platform integration description · Dépôt 16/04/2026
Proven Customer Impact: Southwest Airlines launched a customer service agent in just four months that now autonomously resolves 20% of its 20 million annual requests.
CEO letter / reported customer deployment · Dépôt 16/04/2026
Siemens is using sales agents to qualify 500 leads daily, saving 1,200 hours per human agent annually.
CEO letter / reported customer usage and productivity · Dépôt 16/04/2026
Costs capitalized related to new revenue contracts are amortized on a straight-line basis over four years, which is longer than the typical initial contract period, but reflects the estimated average period of benefit, including expected contract renewals.
Revenue contract costs / estimated benefit including renewals · Dépôt 27/08/2026
The capitalized amounts are recoverable through future revenue streams under all noncancellable customer contracts.
Revenue contract costs / noncancellable contracts · Dépôt 27/08/2026
There were no impairments of costs to obtain revenue contracts for the three and six months ended July 31, 2026 and 2025.
Revenue contract costs / absence of impairments · Dépôt 27/08/2026
Subscription and support revenues accounted for approximately 95 percent of our total revenues for the three and six months ended July 31, 2026 and 95 percent for the three and six months ended July 31, 2025.
MD&A / subscription and support revenue share · Dépôt 27/08/2026
Subscription and Support Revenues by Service Offering Subscription and support revenues consisted of the following (in millions): Three Months Ended July 31, 2026 As a % of Total Subscription and Support Revenues 2025 As a % of Total Subscription and Support Revenues Growth Rate Agentforce Apps $ 7,193 67 % $ 6,682 69 % 8 % Data 360, Headless Platform, and Other 3,618 33 3,008 31 20 Hedging gains 9 0 0 — N/A Total $ 10,820 100 % $ 9,690 100 % 12 % Six Months Ended July 31, 2026 As a % of Total Subscription and Support Revenues 2025 As a % of Total Subscription and Support Revenues Growth Rate Agentforce Apps $ 14,102 66 % $ 13,027 69 % 8 % Data 360, Headless Platform, and Other 7,299 34 5,960 31 22 Hedging gains 12 0 0 — N/A Total $ 21,413 100 % $ 18,987 100 % 13 % Effective as of the first quarter of fiscal year 2027, we have revised the presentation of our disaggregated revenue disclosures to reflect the evolution of our product architecture to deliver the Agentic Enterprise.
MD&A / subscription and support revenue growth by offering · Dépôt 27/08/2026
Our customers have no obligation to renew their subscriptions after the expiration of their contractual subscription period, which is typically 12 to 36 months, and in the normal course of business, some customers have elected not to renew.
Risk factors / contract duration and actual nonrenewals · Dépôt 27/08/2026
Our customers may renew for fewer subscriptions, renew for shorter contract lengths or switch to lower cost offerings of our services.
Risk factors / renewal and downgrade flexibility · Dépôt 27/08/2026
Additionally, our transition toward more complex pricing structures, including AI-driven consumption models, may make it more difficult to optimize our pricing, predict attrition rates, and accurately forecast revenue.
Risk factors / consumption pricing complexity · Dépôt 27/08/2026
In addition, larger enterprise customers and governmental entities often demand significant pricing and packaging flexibility, as well as complex configuration and integration services and features.
Risk factors / enterprise pricing and packaging demands · Dépôt 27/08/2026
The decrease in professional services and other revenues for the three and six months ended July 31, 2026 was primarily due to less demand for larger, multi-year transformation engagements, which may continue in the near term.
MD&A / realized decline in transformation engagement demand · Dépôt 27/08/2026
Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the customer demographic, the geographic area where services are sold, price lists, the Company's go-to-market strategy, historical and current sales and contract prices.
Revenue recognition / actual pricing and discounting practices · Dépôt 27/08/2026
As the Company’s go-to-market strategies evolve, the Company may modify its pricing practices in the future, which could result in changes to SSP.
Revenue recognition / ability to modify pricing practices · Dépôt 27/08/2026
Operating margin, which represents income from operations as a percentage of total revenue, increased to approximately 20 percent for fiscal 2026 compared to approximately 19 percent in the prior year period.
MD&A / fiscal 2026 and fiscal 2025 operating margins · Dépôt 02/03/2026
The Company recognized $586 million, $461 million and $988 million in restructuring charges during fiscal 2026, 2025, and 2024 respectively, which were primarily comprised of workforce reductions that include charges for employee transition, severance payments, employee benefits and stock-based compensation, as well as charges for data center exits and office space reductions.
Restructuring note / actual restructuring charges · Dépôt 02/03/2026
Uncertainty surrounding new and emerging AI applications, including generative AI content creation, AI agents, and multi-organization and multi-agent interoperability considerations may require additional investment in compliance programs, governance frameworks, licensing arrangements, documentation, auditing and risk mitigation processes, which may be complex, costly and could impact our profit margins.
Risk factors / potential AI compliance and operating costs · Dépôt 27/08/2026
See discussion in “Debt” below. Cash Flows For the three and six months ended July 31, 2026 and 2025, our cash flows were as follows (in millions): 2 Three Months Ended July 31, Six Months Ended July 31, 2026 2025 2026 2025 Net cash provided by operating activities $ 1,269 $ 740 $ 7,970 $ 7,216 Net cash provided by (used in) investing activities (1,197) 1,165 (3,380) (402) Net cash used in financing activities (622) (2,503) (3,543) (5,423) Operating Activities The net cash provided by operating activities during the six months ended July 31, 2026 was primarily comprised of net income of $5.6 billion, adjusted for non-cash items, including $3.2 billion of gains on strategic investments, $2.0 billion of depreciation and amortization, and $1.8 billion of stock-based compensation expense.
MD&A / operating cash generation and noncash adjustments · Dépôt 27/08/2026
The net cash used in financing activities during the six months ended July 31, 2026 was primarily related to repurchases of common stock of $27.3 billion, which includes our March 2026 accelerated share repurchase, and payments of dividends and equivalents of $729 million, partially offset by proceeds from the issuance of debt, net of issuance costs of $24.8 billion.
MD&A / actual repurchases, dividends and debt issuance · Dépôt 27/08/2026
As of July 31, 2026, we had senior unsecured notes outstanding, with maturities starting in March 2028 and extending through March 2066, with a total carrying value of $33.3 billion.
Debt / senior unsecured notes outstanding · Dépôt 27/08/2026
The net cash used in investing activities during the six months ended July 31, 2026 was primarily related to net outflows for acquisitions of $1.5 billion, of which $1.1 billion related to the Qualified acquisition, as well as net outflows from marketable securities activity of $871 million.
MD&A / acquisition spending · Dépôt 27/08/2026
•Set “Margin & Growth” goals for fiscal 2026, 2027, and 2028 at grant, eliminating previous delays in goal setting.
Compensation discussion / advance setting of performance goals · Dépôt 16/04/2026
Fiscal 2025 Operating Margin PRSUs (Granted in March 2024) Performance Level Fiscal 2025 Non-GAAP Operating Margin(1) Goals Actual Fiscal 2025 Performance(1) Fiscal 2026 Non-GAAP Operating Margin(2) Goals Actual Fiscal 2026 Performance (Set in March 2024) Threshold ≥ 27.6% 33.0% ≥ 29.3% 33.9% Target ≥ 32.5% ≥ 34.5% Maximum ≥ 37.4% ≥ 39.7% Vesting Achievement Percentage(3) 110%(1) 91% 1.As previously disclosed in our 2025 Proxy Statement.
Compensation discussion / granted awards and annual performance achievement · Dépôt 16/04/2026
3.The average of the annual vesting achievement percentages for each fiscal year in the three-year performance period will be used to determine the final payout percentage for the Operating Margin PRSUs.
Compensation discussion / distinction between annual achievement and final payout · Dépôt 16/04/2026
No hedging or pledging of our securities
Compensation governance / prohibition on hedging and pledging · Dépôt 16/04/2026
Name and Principal Position Fiscal Year Salary ($) Bonus ($) Stock Awards(1)(2) ($) Option Awards(3) ($) Non-Equity Incentive Plan Compensation ($) All Other Compensation(4) ($) Total ($) Marc Benioff Chair of the Board and CEO 2026 1,550,000 833(5) 27,265,360 10,743,097 3,602,588 6,217,374 49,379,252 2025 1,550,000 2,500 28,028,587 17,400,069 3,487,500 4,606,000 55,074,656 2024 1,550,000 2,500 16,338,290 14,000,033 3,100,000 4,651,350 39,642,173 Robin Washington President and Chief Operating and Financial Officer(6) 2026 1,100,000 8,500,000 14,091,350(7) 2,685,820 1,988,525 80,004 28,445,699 Srinivas Tallapragada President and Chief Engineering and Customer Success Officer 2026 1,100,000 — 14,755,024 2,685,820 1,988,525 51,409 20,580,778 2025 1,000,000 — 15,640,564 — 1,500,000 12,428 18,152,992 2024 1,000,000 — 10,269,502 — 1,000,000 5,000 12,274,502 Miguel Milano President and Chief Revenue Officer 2026 1,000,000 1,125,000(8) 12,122,912 2,238,153 1,549,500 665,916 18,701,481 Parker Harris Co-Founder and Chief Technology Officer, Slack 2026 1,000,000 — 10,390,861 1,865,142 1,291,250 — 14,547,253 2025 1,000,000 — 13,227,812 — 1,250,000 — 15,477,812 2024 1,000,000 — 10,269,502 — 1,000,000 — 12,269,502 David Schmaier President and Chief Strategy Officer 2026 1,000,000 — 11,030,269 1,865,142 1,291,250 6,500 15,193,161 Amy Weaver Former President and Chief Financial Officer(9) 2026 153,889 — 1,038,519 — — 37,655 1,230,063 2025 1,050,000 — 15,640,564 — 1,575,000 16,888 18,282,452 2024 1,000,000 — 10,269,502 — 1,000,000 6,072 12,275,574 1.Represents the aggregate grant date fair value of RSUs and PRSUs.
Summary Compensation Table / reported executive compensation · Dépôt 16/04/2026
•Revenue: For fiscal 2026, revenue was $41.5 billion, an increase of ten percent year-over-year.
MD&A / realized fiscal 2026 revenue growth · Dépôt 02/03/2026
36 Table of Contents The acquisition of Informatica in November 2025 contributed approximately $456 million and $900 million of total revenues for the three and six months ended July 31, 2026, respectively.
MD&A / acquired revenue contribution · Dépôt 27/08/2026
Such changes have in some periods resulted in, and may in the future result in, a reduction of productivity, which could negatively impact our operating results.
Risk factors / historical sales reorganization productivity reductions · Dépôt 02/03/2026
All committee members are independent under NYSE listing standards and SEC rules.
Compensation Committee / member independence · Dépôt 16/04/2026
The Governance Committee, with oversight from our Lead Independent Director, leads a formal self-evaluation process on an annual basis.
Governance / annual Board evaluation process · Dépôt 16/04/2026
The Board engages an independent third-party consultant, experienced in corporate governance matters, to facilitate a robust assessment process.
Governance / independent evaluation facilitator · Dépôt 16/04/2026
All of our stockholders have one vote for every share of Salesforce common stock owned as of our record date of April 6, 2026.
Voting rights / one vote per common share · Dépôt 16/04/2026
Based on the results of our evaluation, our management concluded that our internal control over financial reporting was effective as of January 31, 2026.
Controls and procedures / management effectiveness conclusion · Dépôt 02/03/2026
The effectiveness of our internal control over financial reporting as of January 31, 2026 has been audited by Ernst & Young LLP, an independent registered public accounting firm, as stated in its report which is included in Item 8 of this Annual Report on Form 10-K.
Controls and procedures / external audit of internal controls · Dépôt 02/03/2026
In addition, the markets and monetization strategies for certain offerings, including Agentforce and Data 360, remain relatively new and uncertain and may present additional risks and challenges.
Risk factors / uncertainty of AI offering monetization · Dépôt 27/08/2026
Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the customer demographic, the geographic area where services are sold, price lists, the Company's go-to-market strategy, historical and current sales and contract prices.
Significant Judgments—Contracts with Multiple Performance Obligations; pricing practices · Dépôt 27/08/2026
The Company typically has more than one SSP for individual products and services due to the stratification of those products and services by customer size and geography.
Significant Judgments—Contracts with Multiple Performance Obligations; SSP stratification · Dépôt 27/08/2026
36 Table of Contents The acquisition of Informatica in November 2025 contributed approximately $456 million and $900 million of total revenues for the three and six months ended July 31, 2026, respectively.
Revenue discussion; Informatica contribution · Dépôt 27/08/2026
Manufacturing Customer High correlation of AI adoption in scaled growth customers across industries Agentic enterprise expansion in action AI shows up in +80% of our top 100 growth stories x ARR Financial Services Customer Q2 FY25 Q2 FY27 A R R 2.3x ARR Automotive Customer Q2 FY25 Q2 FY27 A R R 1.3x ARR $36M $42M Cybersecurity Customer Q2 FY25 Q2 FY27 A R R 1.5x ARR $50M Agentforce & premium upgrades Q2 FY25 Q2 FY27 A R R 6.5x ARR $20M Public Sector Customer Q2 FY25 Q2 FY27 A R R 4.0x ARR $9M Professional Services Customer Q2 FY25 Q2 FY27 A R R 4.5x ARR $15M Agentforce, premium upgrades & flex credits, Data 360, & more Core licenses Agentforce, premium upgrades, Data 360, & more Core license Flex credits & more Core licensesData 360 & more Core licenses Agentforce, premium upgrades, Data 360, & more Core licenses Agentforce, premium upgrades, & more Core licenses More Core licenses & Data 360 Agentforce, premium upgrades & flex credits, Data 360, & more Core licenses Each customer ARR multiplier based on 2 year expansion from Q2 FY25 through Q2 FY27.
Investor Day; selected customer ARR expansion, Q2 FY25–Q2 FY27 · Dépôt 17/09/2026
Substantially all of the Company’s subscription service arrangements are noncancellable and do not contain refund-type provisions.
Revenue recognition; subscription cancellation and refund terms · Dépôt 27/08/2026
Our customers have no obligation to renew their subscriptions after the expiration of their contractual subscription period, which is typically 12 to 36 months, and in the normal course of business, some customers have elected not to renew.
Risk factors; subscription duration and actual nonrenewals · Dépôt 27/08/2026
In addition, larger enterprise customers and governmental entities often demand significant pricing and packaging flexibility, as well as complex configuration and integration services and features.
Enterprise sales discussion; pricing and packaging flexibility · Dépôt 27/08/2026
GAAP to Non-GAAP Financial Reconciliation (in millions) Non-GAAP income from operations FY22 FY23 FY24 FY25 FY26 Full Year FY27 Guidance2 GAAP income from operations $ 548 $ 1,030 $ 5,011 $ 7,205 $ 8,331 GAAP Operating Margin 20.1 % Plus: Plus: Amortization of purchased intangibles 1,624 1,951 1,869 1,651 1,687 Amortization of purchased intangibles3 4.4 % Stock-based compensation expense1 2,779 3,259 2,764 3,181 3,480 Stock-based compensation expense1,3 9.0 % Restructuring and acquisition-related costs1 0 828 988 461 658 Restructuring and acquisition-related costs1,3 0.8 % Non-GAAP income from operations $ 4,951 $ 7,068 $ 10,632 $ 12,498 $ 14,156 Non-GAAP operating margin 34.3 % Revenue 26,492 31,352 34,857 37,895 41,525 Non-GAAP operating margin 18.7 % 22.5 % 30.5 % 33.0 % 34.1 % (in millions) Free Cash Flow FY22 FY23 FY24 FY25 FY26 GAAP net cash provided by operating activities $ 6,000 $ 7,111 $ 10,234 $ 13,092 $ 14,996 (Capital expenditures) (717) (798) (736) (658) (594) Free Cash Flow $ 5,283 $ 6,313 $ 9,498 $ 12,434 $ 14,402 1.
GAAP to Non-GAAP Financial Reconciliation; FY22–FY26 actual results, in millions; FY27 guidance separately identified · Dépôt 17/09/2026
In March 2026, the Company entered into accelerated share repurchase agreements (the “ASR Agreements”) with several financial institutions to repurchase an aggregate $25.0 billion of its common stock.
Stockholders’ Equity; March 2026 accelerated share repurchase · Dépôt 27/08/2026
Pursuant to the terms of the ASR Agreements, the Company made up-front payments totaling $25.0 billion and received an initial delivery of approximately 103 million shares of its common stock at an average price per share of $198.34.
Stockholders’ Equity; ASR upfront payments and initial delivery · Dépôt 27/08/2026
We maintain debt obligations that are subject to market interest risk, as follows (in millions):
Instrument
Maturity Date
Principal Outstanding as of July 31, 2026
Interest Terms
Contractual Interest Rate
March 2028 Senior Notes
March 2028
3,500
Fixed
4.50%
April 2028 Senior Notes
April 2028
1,500
Fixed
3.70
July 2028 Senior Sustainability Notes
July 2028
1,000
Fixed
1.50
March 2029 Senior Notes
March 2029
4,250
Fixed
4.65
Revolving Loan Credit Agreement
October 2029
Floating
2026 Term Loan Credit Agreement (1)
March 2031
6,000
Floating
4.24
July 2031 Senior Notes
July 2031
1,500
Fixed
1.95
September 2031 Senior Notes
September 2031
3,750
Fixed
4.90
March 2033 Senior Notes
March 2033
2,750
Fixed
5.20
March 2036 Senior Notes
March 2036
4,500
Fixed
5.55
July 2041 Senior Notes
July 2041
1,250
Fixed
2.70
March 2046 Senior Notes
March 2046
1,500
Fixed
6.40
July 2051 Senior Notes
July 2051
2,000
Fixed
2.90
March 2056 Senior Notes
March 2056
3,750
Fixed
6.55
July 2061 Senior Notes
July 2061
1,250
Fixed
3.05
March 2066 Senior Notes
March 2066
1,000
Fixed
6.70
(1) The contractual interest rate represents the weighted-average for the period outstanding.
Market interest risk; debt principal outstanding July 31, 2026, in millions · Dépôt 27/08/2026
Stockholders’ Equity Stock option activity for the six months ended July 31, 2026 was as follows: Options Outstanding Outstanding Stock Options (in millions) Weighted- Average Exercise Price Aggregate Intrinsic Value (in millions) Balance as of January 31, 2026 6 $ 207.54 Options granted under all plans 1 180.69 Balance as of July 31, 2026 7 $ 205.71 $ 93 Vested or expected to vest 7 $ 206.24 $ 90 Exercisable as of July 31, 2026 5 $ 206.19 $ 58 Restricted stock activity for the six months ended July 31, 2026 was as follows: Restricted Stock Outstanding Outstanding (in millions) Weighted Average Grant Date Fair Value Aggregate Intrinsic Value (in millions) Balance as of January 31, 2026 26 $ 265.64 Granted - restricted stock units and awards 22 191.68 Granted - performance-based restricted stock units 1 204.63 Canceled (3) 249.56 Vested and converted to shares (7) 254.19 Balance as of July 31, 2026 39 $ 224.79 $ 7,144 Expected to vest 33 $ 6,088 25 Table of Contents The aggregate expected stock-based compensation expense remaining to be recognized as of July 31, 2026 was as follows (in millions): Fiscal Period: Remaining six months of fiscal 2027 $ 1,955 Fiscal 2028 2,918 Fiscal 2029 2,052 Fiscal 2030 1,235 Fiscal 2031 164 Total stock-based compensation expense $ 8,324 The aggregate expected stock-based compensation expense remaining to be recognized reflects only outstanding stock awards as of July 31, 2026 and assumes no forfeiture activity and no changes in the expected level of attainment of performance share grants based on the Company’s financial performance relative to certain targets.
Stockholders’ Equity; actual stock award activity and outstanding compensation commitments at July 31, 2026 · Dépôt 27/08/2026
As of July 31, 2026, the maturities of lease liabilities under noncancellable operating and finance leases were as follows (in millions): Operating Leases Finance Leases Fiscal Period: Remaining six months of fiscal 2027 $ 290 $ 147 Fiscal 2028 581 181 Fiscal 2029 488 138 Fiscal 2030 336 120 Fiscal 2031 270 89 Thereafter 806 9 Total minimum lease payments 2,771 684 Less: Imputed interest (316) (51) Total $ 2,455 $ 633 The total lease commitment balance as of July 31, 2026, including leases not yet commenced, is $4.2 billion, of which approximately $3.5 billion is related to facilities space.
Lease commitments at July 31, 2026 · Dépôt 27/08/2026
(“Fin”), a customer agent platform providing autonomous, end-to-end AI service agents, for approximately $3.6 billion in cash, and subject to customary purchase price adjustments.
Business combinations; announced Fin acquisition cash consideration · Dépôt 27/08/2026
As the Company’s go-to-market strategies evolve, the Company may modify its pricing practices in the future, which could result in changes to SSP.
Significant Judgments; ability to modify pricing practices · Dépôt 27/08/2026
Subscription and Support Revenues by Service Offering Subscription and support revenues consisted of the following (in millions): Three Months Ended July 31, 2026 As a % of Total Subscription and Support Revenues 2025 As a % of Total Subscription and Support Revenues Growth Rate Agentforce Apps $ 7,193 67 % $ 6,682 69 % 8 % Data 360, Headless Platform, and Other 3,618 33 3,008 31 20 Hedging gains 9 0 0 — N/A Total $ 10,820 100 % $ 9,690 100 % 12 % Six Months Ended July 31, 2026 As a % of Total Subscription and Support Revenues 2025 As a % of Total Subscription and Support Revenues Growth Rate Agentforce Apps $ 14,102 66 % $ 13,027 69 % 8 % Data 360, Headless Platform, and Other 7,299 34 5,960 31 22 Hedging gains 12 0 0 — N/A Total $ 21,413 100 % $ 18,987 100 % 13 % Effective as of the first quarter of fiscal year 2027, we have revised the presentation of our disaggregated revenue disclosures to reflect the evolution of our product architecture to deliver the Agentic Enterprise.
Subscription and Support Revenues by Service Offering; three and six months ended July 31, 2026 and 2025, in millions · Dépôt 27/08/2026
Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the customer demographic, the geographic area where services are sold, price lists, the Company's go-to-market strategy, historical and current sales and contract prices.
Significant judgments: pricing practices used to determine standalone selling prices · Dépôt 27/08/2026
Manufacturing Customer High correlation of AI adoption in scaled growth customers across industries Agentic enterprise expansion in action AI shows up in +80% of our top 100 growth stories x ARR Financial Services Customer Q2 FY25 Q2 FY27 A R R 2.3x ARR Automotive Customer Q2 FY25 Q2 FY27 A R R 1.3x ARR $36M $42M Cybersecurity Customer Q2 FY25 Q2 FY27 A R R 1.5x ARR $50M Agentforce & premium upgrades Q2 FY25 Q2 FY27 A R R 6.5x ARR $20M Public Sector Customer Q2 FY25 Q2 FY27 A R R 4.0x ARR $9M Professional Services Customer Q2 FY25 Q2 FY27 A R R 4.5x ARR $15M Agentforce, premium upgrades & flex credits, Data 360, & more Core licenses Agentforce, premium upgrades, Data 360, & more Core license Flex credits & more Core licensesData 360 & more Core licenses Agentforce, premium upgrades, Data 360, & more Core licenses Agentforce, premium upgrades, & more Core licenses More Core licenses & Data 360 Agentforce, premium upgrades & flex credits, Data 360, & more Core licenses Each customer ARR multiplier based on 2 year expansion from Q2 FY25 through Q2 FY27.
Investor Day: customer ARR expansion from Q2 FY25 through Q2 FY27 · Dépôt 17/09/2026
36 Table of Contents The acquisition of Informatica in November 2025 contributed approximately $456 million and $900 million of total revenues for the three and six months ended July 31, 2026, respectively.
Revenue discussion: Informatica acquisition contribution · Dépôt 27/08/2026
Outside of the top 100, ARR grows meaningfully faster as customers scale their AI usage across Salesforce >2x ARR uplift in 18 months since Agentforce launch A R R U pl if t ARR upli driven by AI, Data 360, Customer 360
Investor Day: ARR uplift associated with scaling AI usage · Dépôt 17/09/2026
