CRM Q4 2024 Earnings

Call Details

• Call Title: Salesforce, Inc. Q4 2024 Earnings Call
• Date: February 28, 2024 at 10:00 PM UTC
• Management Team:
  • Mike Spencer (Executive Vice President of Finance and Strategy and Investor Relations)
  • Marc Benioff (Chair and Chief Executive Officer)
  • Amy Weaver (President and Chief Financial Officer)
  • Brian Millham (President and Chief Operating Officer)

Call Summary

Financial Performance

• Q4 revenue was $9.3B, up 11% year-over-year and 10% in constant currency.
• Full-year revenue was $34.9B, up 11% year-over-year in both nominal and constant currency.
• Q4 non-GAAP operating margin was 31.4%, up 220 basis points year-over-year.
• Full-year non-GAAP operating margin was 30.5%, up 800 basis points year-over-year while full-year GAAP operating margin was 14.4%, up 1,110 basis points year-over-year.
• Q4 operating cash flow was $3.4B, up 22% year-over-year, and full-year operating cash flow was $10.2B, up 44% year-over-year.
• Full-year free cash flow was $9.5B, up 50% year-over-year, and Q4 free cash flow was $3.3B, up 27% year-over-year.

Guidance

• Fiscal 2025 revenue is guided to $37.7B to $38.0B, representing growth of 8% to 9% year-over-year.
• Subscription and support revenue growth for fiscal 2025 is expected to be slightly above 10% year-over-year in constant currency.
• Fiscal 2025 non-GAAP operating margin is guided to 32.5%, representing a 200 basis point improvement year-over-year.
• GAAP operating margin for fiscal 2025 is expected to be 20.4%, with GAAP diluted EPS guided to $6.07 to $6.15 and non-GAAP diluted EPS guided to $9.68 to $9.76.
• Fiscal 2025 operating cash flow growth is expected to be approximately 21% to 24%, which includes a 10-point year-over-year headwind from cash taxes.
• Q1 fiscal 2025 revenue is guided to $9.12B to $9.17B, up 11% year-over-year nominal and 12% in constant currency, and Q1 CRPO growth is guided to 11% year-over-year nominal and 12% in constant currency.