Q4 2025 Salesforce Inc Earnings Call

One on your telephone keypad also this call is being recorded I would now like to hand, the conference over to your Speaker, Mike Spencer Executive Vice President of Finance and strategy and Investor Relations. Sir you may begin.

Good afternoon, and thanks for joining us today on our fiscal 2025 fourth quarter results Conference call. Our press release SEC filings and a replay of today's call can be found on our website.

Joining me on the call today is Marc Benioff, Chairman and CEO, Amy Weaver, President and Chief Financial Officer, Brian Miller, President and Chief Operating Officer. In addition, we also have Robin Washington, Our board member and incoming Chief operating and Finance officer here with us today.

As a reminder, our commentary today will include non-GAAP measures reconciliations between our GAAP and non-GAAP results and guidance can be found in our earnings materials and press release.

Some of our comments today may contain forward looking statements that are subject to risks uncertainties and assumptions, which could change should any of these risks materialize or should our assumptions prove to be incorrect actual company results could differ materially from these forward looking statements a description of these risks uncertainties and assumptions and other factors that could affect our financial results is included in our SEC filings, including our most.

Mark: A recent report and forms 10-K, 10-Q, and any other SEC filings, except as required by law, we do not undertake any responsibility to update these forward looking statements and with that let me hand, the call to Mark.

Mark: Well, hey, thanks, so much Mike and you know I'm. So excited about this call and they are reading the script with you. Because this is just the best quarter, we've ever had and I think youre going to see that as we kind of pulled what's happening here.

Mark:

Mark: Sitting here with the <unk>.

Mark: With Amy and Brian and Mike.

Sebastian: Sebastian This also in the table at our new <unk> I mean, <unk> Robin Washington. This year. So welcome Robyn we're thrilled to have you here as well.

Sebastian: And look I'm really excited about this.

Sebastian: <unk>.

Sebastian: I really think that we have something incredible to talk about and obviously this was the.

Sebastian: Quarter of agent force, we're going to talk about that but it was really just another incredible quarter and really it's been another incredible year of growth and innovation.

Sebastian: I'm sure you all can see we've had a really strong performance across all of our key metrics on revenue on margin EPS cash flow CRP, Oh, we've passed some amazing milestones, including more than $60 billion in RP O.

[music].

Sebastian: And this has been the highest cash flow in our company history, you can see we exceeded our cash flow guidance I think Amy did about $12 9 billion last quarter, but I think we delivered a 13 one ish.

Sebastian: And that was just incredible for the quarter and then we're giving guidance I think it's around 14 and $5 billion in guidance for <unk>.

Sebastian: Next year on the.

Sebastian: The cash flow guidance. So just awesome cash production few enterprise software companies have really ever deliver these kind of numbers and I guess only a couple have ever delivered guidance in the $40 billion, which is where we are and our two newest major products, our data cloud and agent force our AI product line now.

Sebastian: We can see is a multibillion dollar product lines. So we're excited to be in.

Sebastian: That kind of rarefied air of delivering a multibillion dollars AI product line. We ended this year with $900 million and data cloud and AI IRR. It grew 120% year over year, we've never seen products grow at these levels, especially.

Okay.

Speaker Change: Ladies and gentlemen, you're currently on hold for the sales force in Q4, FY 'twenty five earnings call. At this time, we are waiting additional participants and will be underway. Shortly we appreciate your patience and ask that you. Please continue to standby.

Sebastian: Agent Force.

Sebastian: Data cloud and AI agent Force. This is now going to be incredible coming into fiscal year 'twenty six as we began this year and well since our founding I couldnt be more excited about what's ahead. It's this is a moment like we've just never seen before and in just a few months. We've seen this addressable market go from hundreds of one <unk>.

Speaker Change: [music].

Sebastian: <unk> dollars and I'm sure you saw those arc slides that got released over the weekend, where she said that she thought this digital labor Revolution, which is real like kind of what we're in here now this digital labor evolution this looks like.

Sebastian: Anywhere from a few trillion to <unk> trillion.

Sebastian: I kind of agree with her I think this is much much bigger than software.

Sebastian: For the last 25 years, we've been doing <unk>.

Sebastian: Software to help our customers manage their data.

Sebastian: Very exciting I think building software that kind of prints and deployed digital workers is more exciting and youre going to hear some of these incredible stories in a second.

Sebastian: Our farm our Formula now really for our customers is this idea.

Sebastian: And that we have these incredible customer 360 apps, we have this incredible data cloud.

Sebastian: Is this and this incredible egencia platform. These are the three layers, but it's this that it is a deeply unified platform, it's a deeply unified platform.

Sebastian: One piece of code that.

Sebastian: What makes it so unique in this market and that is why customers are having so great success with it it's not a collection of just jointed parts you have to kind of self assemble DIY. It.

Sebastian: All kinds of how do you get the security ready and how do you do this how do you do that it's this idea that it's a deeply unified platform with one piece of code all wrapped in a beautiful layer of trust.

Sebastian: That's what gives the agent force this incredible accuracy that we're seeing I'm going to talk about.

Sebastian: Even what we've seen at Salesforce with that is amazing.

Sebastian: And I will tell you that.

Sebastian: Our customers are just seeing some great success with it and Thats why just 90 days. After went live we've already have 3000 pain agent.

Sebastian: <unk> customers, who are experiencing unprecedented levels of productivity efficiency and cost and cost savings.

Sebastian: No one else is delivering.

At this level of capability.

Sebastian: And we're really seeing a level of integration simplicity intelligence power.

Sebastian: I mean customers are really telling us that we are light years ahead of other providers.

Sebastian: And their feedback really speaks volumes. So excited to go on the web and see agent force delivering labor for companies like Equinox open table, accusing others, I mean, I go to their sites I'm going to there.

Sebastian: Through their ex feeds there.

Sebastian: Social media presence and you see agent force running and look a lot of other vendors are talking about their agent capabilities, but few are able to show that they've got this really running at scale.

And as you are about to hear from Brian We're seeing some amazing results on sales versus customer zero for agent Force. Our digital Labor force is resolving tens of thousands of customer service inquiries freeing our human employees to focus on the most nuanced issues and customer relationships, we're seeing tremendous momentum and success stories.

Sebastian: Emerge as we execute our vision to make every company every single company every customer of ours and agent Force company that is we want every customer to be an agent force customer. We want every trailblazer to be an agent pleasure and I want to share. Some of these amazing stories with you today, but first let's hit a couple of these incredible numbers we closed.

Sebastian: Fiscal year, 'twenty, five with $10 billion in revenue.

Sebastian: That's amazing our first $10 billion quarter I remember, we had our first $10 billion a year kind.

Sebastian: Kind of amazing $10 billion quarter up 8% year over year, 9% constant currency and I think we even lost Amy is that regulate the couple of hundred million dollars in foreign exchange for the year as well in.

Sebastian: In Q4, we closed more than 400 deals over 1 million all of our top 10 wins included data and AI.

Brian: Brian 400 deals over $1 million pretty awesome.

Speaker Change: Ladies and gentlemen, you're currently on hold for the Salesforce, Inc. Q4, FY 'twenty five earnings call. At this time, we are admitting additional participants and will be underway. Shortly thank you for your patience and please continue to standby.

Speaker Change: And we also continued phenomenal growth with data cloud this year, which is at the heart agent Force data cloud is the fuel that powers agent for us and our customers are investing in it and data cloud surpassed $50 trillion, that's trillion with a T records doubling year over year as customers increase their consumption of investment in our data platform.

Speaker Change: [music].

Brian: <unk>.

Brian: And that is just becoming critical in a central part of our solution because as customers turn on AI and agent force. If they don't have the data we have been talking about this I guess for almost two years. If you don't have the data youre not going to get the AI that you so badly want and nearly a quarter of that.

Brian: <unk> 50 trillion records that was trillion with a T were adjusted from outside of Salesforce through our zero copy partner network, which is amazing we will see increased investments in software to build an agenda layer as AI continues to advance and handle a higher percentage of workloads and we're taking advantage of the huge.

<unk> investments.

Brian: These infrastructure companies. We just you know we work with will have of course, we are.

Brian: Two substrates live where we have Amazon and we have Alibaba.

Brian: Both companies are making huge investments in infrastructure and the third one.

Brian: Google.

Speaker Change: It's making a huge infrastructure investment, we're really getting great prices from these companies.

Speaker Change: Our deployment our ability to deploy it early low cost is just awesome.

Speaker Change: And it's just driving down our cost for our customers. So that's so exciting look.

Speaker Change: For the full year, we delivered $37 9 billion in revenue, it's up 9% year over year operating cash flow, reaching $13 billion 1 billion up 28% year over year, It's really one of the best performances I think of any software company.

Speaker Change: And with our continued disciplined approach to margin expansion in our non-GAAP operating margin closed at 33% that was.

Amy: 250 basis points for fiscal year 'twenty five I think it's 50 basis points higher than we even gave you guidance for a year ago is that right Amy.

Speaker Change: Yes.

Speaker Change: That's.

Speaker Change: Awesome, but we also passed an incredible milestone with more than $60 billion and RP O that I don't think we could've expected. So this is this milestone isn't just the number it's a clear signal that our customers are trusting us deploying us getting great value from us and continuing to invest in our vision for digital labor.

Speaker Change: I mean, I think it's going to be that digital labor vision that revelation that we're able to provide digital labor at SCOR scale with this trinity of apps data and agents that is going to drive this fiscal year 'twenty six success, we expect to deliver fiscal year 'twenty six subscription and support revenue of 9%.

Speaker Change: Year over year in constant currency.

Speaker Change: We remain deeply deeply committed to profitable growth and expect fiscal year 'twenty six non-GAAP operating margin of 34% driven.

Speaker Change: We're going to deliver another 100 basis points of expansion.

Speaker Change: During two years, where we expanded more than 1000 basis points the pace of change the focus on productivity profitability the speed of innovation the.

Speaker Change: The Trinity of apps data and agents, it's all coming together as I mentioned, we're seeing customers deploy agent force across every industry.

Speaker Change: Let's talk about a couple of examples.

Speaker Change: We've been working.

Speaker Change: With when are the nation's largest homebuilder and most of you know <unk> is really an incredible company and they've been a customer of ours for about eight years. They came.

Speaker Change: <unk> Dream force and when they came to Dream force. They obviously got their hands like many of you did on agent Force got Super excited when back to Miami.

Speaker Change: Talk to their co Ceos, you, probably know Stuart Miller, Jon Jaffe Amazing Ceos.

Speaker Change: And.

Speaker Change: Those <unk> called me and said listen these guys have done a hackathon around agent for US. We've got five use cases, we see incredible opportunities on our margin incredible opportunities in our revenue.

Speaker Change: And do you have our back if we're going to deploy this and we said absolutely we've deployed it ourselves which is the best evidence that this is real and they are just incredible their vision as a homebuilder, providing 24 seven support sales leads through all their digital channels. They are able to sell all kinds.

Speaker Change: New products, I think they're going to sell mortgages in insurance and all kinds of things to their customers and the cool thing is they're using our sales product our service product marketing new soft lack tableau these everything but.

Speaker Change: Once again, ladies and gentlemen, you are on hold for the sales force Q4, FY 'twenty five earnings call. At this time, we are admitting additional participants and plan to start shortly thank you for your patience and please continue to standby.

Speaker Change: They are able to leverage it altogether by realizing that just by turning it off they get this incredible agent force capability, Alright, I want to tell you another story.

Speaker Change: Just about Lamar and transforming a homebuilder, but I.

Speaker Change: I don't know how many of you know about Pandora has been new shopping center you will see the Pandora store you walk in they have discord is jewelry. This call term bracelets are amazing amazing products and their CEO. Alex is absolutely phenomenal I think he is based over in Amsterdam or is in the Netherlands, I can't remember where it is.

Speaker Change: [music].

Speaker Change: But one.

Speaker Change: One of the northern European countries credible CEO.

Speaker Change: Im actually just.

Speaker Change: Gave them an award as one of the most sustainable companies in the World Great Company.

Speaker Change: Please standby.

Speaker Change: Good day, everyone welcome to Salesforce fourth quarter and full year fiscal 2025 results conference call. If you have a question today. Please press star one on your telephone keypad also this call is being recorded I would now like to hand, the conference over to your Speaker, Mike Spencer Executive Vice President of Finance and strategy and Investor Relations.

Speaker Change: They are in 100 countries they employ 37000 people worldwide.

Speaker Change: And Alex has this great vision to augment their employees.

Speaker Change: With digital labor and this idea that whether you are on their website or in their store or whatever it is that theyre going to be able to do so much more with agent force they already use <unk>.

Speaker Change: Sir you may begin.

Speaker Change: Good afternoon, and thanks for joining us today on our fiscal 2025 fourth quarter results Conference call. Our press release SEC filings and a replay of today's call can be found on our website joining.

Speaker Change: First of all there is commerce clouds, because even the Pandora dot com and bought their products.

Speaker Change: If you have it by the way it's lately worthwhile, it's great and you can experience our commerce cloud, but it's deeply integrated with our service cloud with data cloud its.

Speaker Change: Joining me on the call today is Marc Benioff, Chairman and CEO, Amy Weaver, President and Chief Financial Officer, Brian Miller, President and Chief Operating Officer. In addition, we also have Robin Washington, Our board member and incoming Chief operating and finance also here with us today.

Speaker Change: The one unified platform approach and now Theyre just flipping the switch turning agents on and they are planning to deliver 30% to 60% of their service cases with agent force that is awesome and I really love Alex his vision of what's possible and then Alaska customer I really want to hit on which I'm. So excited about it.

Speaker Change: As a reminder, our commentary today will include non-GAAP measures reconciliations between our GAAP and non-GAAP results and guidance can be found in our earnings materials and press release.

Speaker Change: Some of our comments today may contain forward looking statements that are subject to risks uncertainties and assumptions, which could change should any of these risks materialize or should our assumptions prove to be incorrect actual company results could differ materially from these forward looking statements.

Speaker Change: Is pfizer and.

Speaker Change: Albert is an incredible CEO.

Speaker Change: Theyre doing unbelievable things they've been a tremendous customer, but now they are really going all in on our life Sciences cloud we're seeing so many.

Mark: A description of these risks uncertainties assumptions and other factors that could affect our financial results is included in our SEC filings, including our most recent report in forms 10-K, 10-Q, and any other SEC filings, except as required by law, we do not undertake any responsibility to update these forward looking statements and with that let me hand, the call to Mark.

Speaker Change: Business Council last week in Washington, D C met with hundreds of Ceos.

Speaker Change: So many of the <unk>.

Speaker Change: So the life sciences industry of going with our life Sciences cloud it was incredible.

Speaker Change: And you can see why because it's just natural upgrade of what they're already doing with US and then this idea that our life Sciences cloud becomes as highly differentiated capability from everything currently available in the market and then allows these pharma med tech companies. So many to be able to streamline not just their clinical.

Mark: Well, hey, thanks, so much Mike and you know I'm. So excited about this call and are reading the script with you. Because this is just the best quarter, we've ever had.

Mark: Youre going to see that as we kind of build.

Mark: What's happening here.

Speaker Change: Sitting here with with Amy and Brian and Mike.

Speaker Change: Operations, all their customer facing even the ones who want to go to direct to consumer even the ones who wanted to clinical trials.

Speaker Change: Sebastian is also on the table and our new mobile I mean, Cobo Robin Washington. This year. So welcome Robyn we're thrilled to have you here as well.

Speaker Change: And this idea that agents are going to make all of that so much better and with agent for sales agents for example, with Pfizer.

Speaker Change: Look I'm really excited about this I.

Speaker Change: They've got 20000 customer facing employees and customer facing.

Speaker Change: I really think that we have something incredible to talk about and obviously this was the.

Speaker Change: <unk>.

Speaker Change: That is just a radical extension for them with agents and I'll have to slot in one last one because I.

Speaker Change: Quarter of agent force, we're going to talk about that but it was really just another incredible quarter and really it's been another incredible year of growth and innovation.

Speaker Change: I will tell you I am sure a lot of like I have flown in Singapore area, you know what it's a great airline of the cocoa is amazing.

Speaker Change: I'm sure you all can see we've had a really strong performance across all of our key metrics on revenue on margin EPS cash flow CRP, Oh, we've passed some amazing milestones, including more than $60 billion in RP O and this has been the highest cash flow in our company history, you can see we exceeded our cash flow guidance I think.

Speaker Change: And key.

Speaker Change: He has a huge vision that also came out of Dream force.

Speaker Change: They've already deliver the probably the best service of any airline in the world. They wanted to deliver it through agents, so whether you're doing it with service or sales or marketing or commerce or all the different things that Singapore air is doing with us youre going to able to do this.

Speaker Change: Amy did about $12 9 billion last quarter, but I think we delivered a 13 one ish.

Speaker Change: And that was just incredible for the quarter and then we're giving guidance I think it's around 14.

Speaker Change: <unk>, Singapore Air Alright, well I know all of you want to see this in person talk to these customers yourself.

Speaker Change: $5 billion in guidance for <unk>.

Speaker Change: You can go to help that Salesforce dot com, Brian is going to talk about that when you hear the numbers, we delivered in the quarter, there youre going not going to believe it.

Next year on the.

Speaker Change: The cash flow guidance. So just awesome cash production few enterprise software companies have really ever deliver these kind of numbers and I guess only a couple have ever delivered guidance in the 40 billions, which is where we are and our two newest major products, our data cloud and agent force our AI product line now.

Speaker Change: And listen.

Speaker Change: A lot of people say to me Hey, how are you different from these other agent companies number one.

Speaker Change: Go to those other vendors go to their sites are they running their agent technology, you've all been on helped that Salesforce Dot Com you. All know this incredible capability that we're delivering you've seen it deployed by these other customers like equinox and remarkable and others.

Speaker Change: We can see is a multibillion dollar product line. So we're excited to be in.

And that kind of a rarefied air of deliberate a multibillion dollar AI product line. We ended this year with $900 million and data cloud and AI.

Speaker Change: <unk> got your hands on do you see the other scaled vendors delivering this capability or are they just using the word agent IV got a beware beware of the false agent because the false agent is out there where people can use the word agent or they got there.

Speaker Change: It grew 120% year over year, we've never seen products grow at these levels, especially our agent force.

Speaker Change: Data cloud and AI agent Force. This is now going to be incredible coming into fiscal year 'twenty six as we began this year and well since our founding I couldnt be more excited about what's ahead. It's this is a moment like we've just never seen before and then just a few months we've seen this addressable market go from hundreds of dollars.

Speaker Change: China White whitewash all the agents the thing everywhere, but the reality is there is the real agents and they are the false agents and we're very fortunate to have the real stuff going on here. So we've got a lot more groundbreaking AI innovation coming I can't wait for you to see that our trailhead Dx Evert <unk>.

Speaker Change: Tens of dollars and I'm sure you saw those arcs wives that got released over the weekend, where she said that she thought this digital labor Revolution, which is real like kind of what we're in here now this digital labor evolution. This looks like it took anywhere from a few trailing into 12 trillion I mean, I kind of agree with her I think this is much much bigger than <unk>.

Speaker Change: Weak and that's going to be March 5th and six in San Francisco looking towards seeing all of you there and showing you that and I will tell you while you're there I didn't hit it.

Speaker Change: Got to see this new product, we've just built which is tableau next.

Speaker Change: Im sure a lot of you know tableau, you probably use it every day.

Speaker Change: Software I mean for the last 25 years, we have been doing so.

Speaker Change: When you see what we have built which is the new tableau built with agent force on the data cloud and how it's deeply integrated into our product line. It is going to blow your mind. It is incredible you've got to make sure you get a demo of tableau next you won't believe it youre going to see.

Speaker Change: Software to help our customers manage their data that's very exciting I think building software that kind of prints and deployed digital workers is more exciting and youre going to hear some of these incredible stories in a second our firm our formula now really for our customers is this idea that.

Speaker Change: The new slack, you're going to see the new sales cloud service cloud marketing cloud Commerce cloud the platform agent force all the products with new field service product, which is incredible.

Speaker Change: And that we have these incredible customer 360 apps, we have this incredible data cloud.

Speaker Change: This this and this.

Speaker Change: Egencia platform. These are the three layers, but it did that it is a deeply unified platform, it's a deeply unified platform.

Speaker Change: You might get a glimpse of the new <unk> product that's coming in if you look hard but the big thing that I am excited about.

Speaker Change: One piece of code that that's what makes it so unique in this market and that is why customers are having so great success with it it's not a collection of disjointed parts you have to kind of self assemble DIY. It.

Speaker Change: The big thing that I'm really excited about it.

Speaker Change: Is tableau next because thats about to deploy to customers at scale and I think people are going to be absolutely.

Speaker Change: Blown away Alright, now before I do that I have to get out the kleenex, because I have to say goodbye to Brian and Amy who.

Speaker Change: All kinds of how do you get the security ready and how do you do this how do you do that it's this idea that it's a deeply unified platform with one piece of code all wrapped in a beautiful layer of trust.

Speaker Change: It's kind of a.

Speaker Change: A moment in time here, where Brian has been here for I think 25 years 26 years. He's just wearing one of the many watches that have given him to recognize this performance.

Speaker Change: And that's what gives the agent force. This incredible accuracy that we're seeing I'm going to talk about.

Speaker Change: Even what we've seen at Salesforce with that is amazing.

Speaker Change: EMEA is here as well she is not worrying one of her watches but she has them at home probably in her jewelry case or save for something and.

Speaker Change: And I'll tell you that.

Speaker Change: Our customers are just seeing some great success with it and Thats why just 90 days. After went live we've already have 3000 pain.

Speaker Change: Amy how long has been in the 12 years.

Speaker Change: 11 years with Amy and.

Speaker Change: Agent force customers, who are experiencing unprecedented levels of productivity efficiency and cost and cost savings.

Speaker Change: We're going through a little bit of a transition of our management team between fiscal year, 'twenty, five and 26, and we want to say goodbye and thank you we want to say mahalo, and we want to say goodbye, which is of Hooey Ho.

Speaker Change: No one else is delivering.

Speaker Change: At this level of capability.

Speaker Change: And we're really seeing a level of integration simplicity intelligence power.

Speaker Change: And.

Speaker Change: Thank you so much for everything and we're going to let them talk and also say their goodbyes, but we're so grateful to everything that you've done for US every single day over the last 25 in 11 years.

Speaker Change: Customers are really telling us that we're light years ahead of other providers and their feedback really speaks volumes. So excited to go on the web and see agent force delivering labor force.

Speaker Change: It's been great to have you part of our management team and Youre welcome back anytime so.

Speaker Change: Equinox open table, that's accusing others I mean I go to their sites I'm going to there you know.

Speaker Change: And if you get lonely out there on the golf course, or I know <unk> got some big plans that she is not ready to announce yet in the.

Speaker Change: They're X feeds there you know social media presence and you see agent force running.

Speaker Change: In the NGL World, but I will tell you that.

Speaker Change: You guys get lonely or are you missing the thrill of the hunt come back and see us because.

Speaker Change: And look a lot of other vendors are talking about their agent capabilities, but few are able to show that they've got this really running at scale.

Speaker Change: We're going to be.

Brian: Ready for you to come back Okay, Alright, Brian I really appreciate it.

Speaker Change: And as you are about to hear from Brian We're seeing some amazing results on sales versus customer zero for agent force, our digital labor forces resolving tens of thousands of customer service inquiries freeing our human employees to focus on the most nuanced issues and customer relationships, we're seeing tremendous momentum and success stories.

Brian: It's been a privilege of a lifetime to work here for more than 25 years very few people get started at Tempe zero revenue and <unk> $38 billion. The journey has been remarkable and this year was certainly the capstone.

Brian: As you heard from Mark and just one quarter agent for US has been deployed by thousands of brands worldwide, becoming incredible lever for productivity growth inefficiency, it's happened faster than we ever expected.

Emerge as we execute our vision to make every company every single company every customer of ours and agent Force company that is we want every customer to be an agent of course customer. We want every trailblazer to be an agent blazer and I wanted to share. Some of these amazing stories with you today, but first let's hit a couple of these incredible numbers we.

Brian: With our deeply unified platform seamlessly integrating our customer 360 apps data cloud and agent force or leading the digital labor Revolution.

Brian: <unk> of every size across every industry are seeing immediate and substantial value with agent force, we're setting new standards in the industry Open table is a great example of how.

We closed out fiscal year, 'twenty, five with $10 billion in revenue.

Brian: Agent for US is having an immediate impact in just three weeks at handling 73% of all restaurant web queries, a 50% improvement over their previous tool.

Speaker Change: That's amazing our first $10 billion quarter I remember, we had our first $10 billion a year.

Speaker Change: Kind of amazing $10 billion quarter up 8% year over year, 9% constant currency and I think we even lost Amy is that like a couple of hundred million dollars in foreign exchange for the year as well in.

Brian: And they're not alone the future group surveyed customers and found that <unk> can achieve ROI fast five times faster than DIY, while lowering costs by 20%.

Speaker Change: In Q4, we closed more than 400 deals over 1 million all of our top 10 wins included data and AI.

Speaker Change: And technology analyst firm about war found agents agent force delivers autonomous AI agent 16 times faster versus DIY approaches with 75% increased accuracy.

Brian: Brian 400 deals over $1 million pretty awesome.

Brian: And we also continued phenomenal growth with data cloud this year, which is at the heart agent Force data cloud is the fuel that powers agent for us and our customers are investing in it and data cloud surpassed 50 trillion, that's trillion with a T records doubling year over year as customers increase their consumption of investment in our data platform.

Speaker Change: We continue to see significant increase in large multi cloud transactions as companies look to accelerate faster time to value efficiency and growth.

Speaker Change: <unk> is partnering with us on their transformation using agent for us to automate and increase the effectiveness of their sales efforts with agent for us for field service Goodyear will be able to reduce repair time by assisting technicians with answers that vehicle related questions and atomically scheduling field tax appointments.

Brian: <unk>.

Brian: And that is just becoming critical in a central part of our solution because as customers turn on AI and agent force. If they don't have the data we've been talking about this I guess for almost two years. If you don't have the data youre not going to get the AI that you so badly want and nearly a quarter of that.

Speaker Change: We also continue to embed in the genic layer across our own business today, We're live on agent force across service and sales our business technology organization customer support and more and the results are phenomenal since launching on our Salesforce helped portal on October agent Force is autonomous being handled 380000 service request achieving them.

Brian: Those 50 trillion records that was trillion with a T were adjusted from outside of Salesforce through our zero copy partner network, which is amazing we'll see increased investments in software to build an agenda layer as AI continues to advance and handle a higher percentage of workloads and we're taking advantage of the huge.

Speaker Change: Credible, 84% resolution rate and only 2% of the request require human escalation.

Speaker Change: And we're using agent force for quoting accelerating our quoting cycles by more than 75% in Q4, we increased our AE capacity, while still driving productivity up 7% year over year.

Brian: Investments.

Brian: These infrastructure companies. We just you know we work with will have of course, we have you know.

Speaker Change: Agent Force is transforming how we do outbound prospecting already engaging more than 50 leads per day with personalized outreach and timely follow ups freeing up our teams to focus on high value conversation a rest of participating in thousands of sales coaching training sessions each month.

Brian: Two substrates, you know live where we have Amazon and we have Alibaba.

Brian: Both companies are making huge investments in infrastructure and the third one.

Brian: Google is making a huge infrastructure investment, we're really getting great prices from these companies.

Speaker Change: Data cloud has a powerful network effect as the usage expands the platform becomes more intelligent and more valuable and that's why we're seeing companies around the world, including <unk>.

Brian: Our deployment our ability to deploy it at really low cost is just awesome and it's just driving down our cost for our customers. So that's so exciting look.

Speaker Change: Bell, Canada don't take Cabana continue to invest in data cloud and to build the foundation to implement agents at scale Pasha Bank, which happens to be Spain's leading bank is using data cloud to create a robust data infrastructure that supports its organic transformation and enables them to drive faster and more consistent customer experiences as.

Brian: For the full year, we delivered $37 9 billion in revenue, it's up 9% year over year operating cash flow, reaching $13 billion 1 billion up 28% year over year, It's really one of the best performance as I think of any software company and with our continued disciplined approach to margin expansion in our non-GAAP operating margin.

Speaker Change: As you know the true value of AI is in the data nearly half of the Fortune 100 are both AI and data cloud customers and all of our top 10 wins in Q4 included data cloud and AI.

Brian: Closed at 33% that was.

Asia forces Revolutionary Revolutionizing, how our customers work.

Speaker Change: 250 basis points for fiscal year, 'twenty, five, but I think it's 50 basis points higher than we even gave you guidance for a year ago is that right Amy.

Speaker Change: Bringing AI powered insights and actions directly into the workflows across the customer 360 applications. This is driving strong growth across our portfolio of sales cloud and service cloud both achieved double digit growth again in Q4, we're seeing fantastic momentum with slack with customers like zoom info remarkable and Minot health using agents Morrison.

Brian: And that's.

Brian: Awesome, but we also passed an incredible milestone with more than $60 billion and RP O that I don't think we could've expected. So this is this milestone isn't just the number it's a clear signal that our customers are trusting us deploying us getting great value from us and continuing to invest in our vision for digital labor.

Speaker Change: Slack to boost productivity.

Speaker Change: Once again <unk> was included in over a third of our deals over $1 million and its contribution to the overall deal size increased double digits year over year.

Brian: I think it's going to be that digital labor vision that revelation that we're able to provide digital labor at school scale with this Trinity of apps data and agents that is going to drive this fiscal year 'twenty six success, we expect to deliver fiscal year 'twenty six subscription and support revenue of 9%.

Speaker Change: With nearly 5 billion messages sent weekly slack is central to how people work going forward. We're confident slack will be the place where every company brings digital labor to all of their employees, enabling collaboration with agent for us to get work done.

Speaker Change: Tableau mule software are mission critical to our customers with each featured in nearly half of our greater than $1 million deals tableau now integrated with data cloud agent for us on the Salesforce core platform will transform how customers like Echostar <unk> insurance and Keller Williams Realty take action on their data customers can now unlock access.

Brian: Year over year in constant currency.

Brian: We remain deeply deeply committed to profitable growth and expect fiscal year 'twenty six non-GAAP operating margin of 34% Dougan.

Brian: We're going to deliver another 100 basis points of expansion.

Brian: During two years, where we expanded more than 1000 basis points the pace of change the focus on productivity profitability the speed of innovation the.

Speaker Change: Insights from conversational analytics manage and analyze data using AI assistance and build analytical agents with integrated workflows. Similarly mill soft is transforming how industry leaders like Banco Bradesco, Fujitsu and semi Honda mobility approach enterprise integration with agent driven integration and out of the box.

Brian: The Trinity of apps data and agents, it's all coming together as I mentioned, we're seeing customers deploy agent force across every industry.

Brian: Let's talk about a couple of examples.

Speaker Change: Connectors for every major system customers simply describe their needs in natural language and our AI automatically builds the solution.

We've been working.

Brian: When are the nation's largest homebuilder and most of you know <unk> is really an incredible company and they've been a customer of ours for about eight years. They came.

Speaker Change: Agent Force is also enabling us to deliver truly transformative solutions for every industry and region in Q4, nearly half of our top 100 wins, where international including wins with companies like one New Zealand LG electronics and Versace.

Brian: To Dream force and when they came to Dream force. They obviously got their hands like many of you did on agent Force got Super excited when back to Miami.

Brian: Talk to their <unk> as you probably know Stuart Miller, Jon Jaffe Amazing Ceos.

Speaker Change: Our industry business, along with public sector and Dot Org finished the year at an incredible five $7 billion in IRR up 20% year over year, all of our top 10 deals and nearly 75% of our top 100 deals included an industry cloud.

Brian: And those.

Brian: Those <unk> called me and said listen these guys have done a hackathon around agent for US. We've got five use cases, we see incredible opportunities on our margin incredible opportunities in our revenue and do you have our back if we're going to deploy this and we said absolutely we've deployed it ourselves which is the best evidence.

Speaker Change: To meet this demand we prebuilt over 170 specialized agent force industry skills, and a team of 400 specialists supporting transformations across sectors and geographies.

Brian: This is real and they are just incredible their vision as a homebuilder, providing 24 seven support sales leads through all their digital channels. They are able to sell all kinds of new products I think they're going to sell mortgages in insurance and all kinds of things to their customers and the cool thing is.

Speaker Change: Our new channels and partner ecosystem anchored by our Amazing 100, sorry, 19 million trailblazers are unlocking customer spend and driving agent force adoption and.

Speaker Change: And we're leaning into our ecosystem in fact partners will involved in 50% of our agent force winds in 70% of our agent force Activations in Q4.

Brian: They're already using our sales product our service product marketing new soft like tableau these everything but.

Speaker Change: We're also working with our partners to become agent force companies themselves etcetera is using agent force sales coach, which provides personalized coaching and recommendations for sales teams, which is expected to lead to higher win rates and Deloitte is projecting significant productivity gains and save work workforce hours as they rollout agent force over the <unk>.

Brian: They are able to leverage it altogether by realizing that just by turning it on and they get this incredible agent force capability, Alright, I want to tell you. Another story, not just about Lamar and transforming a homebuilder, but.

Speaker Change: Few years.

Brian: Don't know how many of you know about Pandora have been new shopping center, you will see the Pandora store you walk in they have this gorgeous jewelry. There is called charm bracelets are amazing amazing products and <unk>.

Speaker Change: Over 127000 system integrated employees have completed agent force training and more than 1000, Isps and technology partners are building and selling agents. Our agent force partner network allows customers to deploy prebuilt agents and as agent actions from partners like AWS, Google IBM Workday and more.

Alex: Alex Yes.

Alex: <unk> phenomenal I think he is based over in Amsterdam, whereas in the Netherlands, I can't remember where it is but.

Speaker Change: Earlier this week, we announced expanded partnerships with Google that Mark mentioned to empower customers to use agent force with Gemini, they're multi modal models and to deploy salesforce on Google cloud.

Speaker Change: One of the northern European countries incredible CEO.

Alex: I'm actually just.

Alex: Gave them an award as one of the most sustainable companies in the World Great Company.

Alex: They are in 100 countries they employ 37000 people worldwide.

Speaker Change: AWS is a huge growth engine for us, helping us close a number of large deals in fact in Q4, we closed 25 transactions over $1 million, including three that were more than $10 million.

Alex: And Alex has this great vision to augment their employees.

Alex: With digital labor and this idea that whether youre on their website or in their store or whatever it is that theyre going to be able to do so much more with agent force they already use.

Speaker Change: We're starting off FY 'twenty six an incredible position with a highly accomplished and technical leadership team ready to guide us through this pivotal moment in AI and agents.

Alex: First of all there is commerce clouds, because even the Pandora dot com and bought their products.

Speaker Change: Incredibly grateful for the opportunity and to all the leaders who have gotten us here, especially Marc and Amy it's been an honor to work alongside both of you.

Alex: If you have it by the way it's lately worthwhile, it's great and you can experience our commerce cloud, but it's deeply integrated with our service cloud with data cloud its.

Speaker Change: Thank you to our employees customers partners and shareholders I couldnt be more proud of what we've accomplished or more excited about what's ahead for salesforce and <unk>.

Alex: The one unified platform approach and now Theyre just flipping the switch turning agents on and they are planning to deliver 30% to 60% of their service cases with agent force that is awesome and I really love Alex's vision of what's possible and then the last customer I really wanted to hit on which I'm. So excited about it.

Lanny: That I will turn it over to Lanny.

Lanny: Thanks, Brian I wanted to just start also by expressing my gratitude to Mark and Brian for their partnership and friendship over many many years.

Lanny: Been an incredible journey I'm truly thankful for the opportunity.

Speaker Change: I am also absolutely thrilled to welcome Robyn <unk>, Chief operating and financial Officer.

Alex: Is pfizer.

Alex: Albert is an incredible CEO theyre doing unbelievable things they've been a tremendous customer, but now they are really going all in on our life Sciences cloud received so many.

Speaker Change: Fiscal year 'twenty, five with a year of incredible change with new innovation beyond anything we could have expected just 12 months ago.

Speaker Change: Persistence and urgency and our execution in Q4 is a reflection of that focus across the business and you can see it in our results.

Alex: Business Council last week in Washington D. C met with hundreds of Ceos in so many of the Ceos of the life Sciences industry of going with our life Sciences cloud It was incredible.

Speaker Change: Let's start with revenue.

Speaker Change: For the full year revenue was $37 9 billion up 9% year over year in both nominal and constant currency subscription.

Alex: And you can see why because it's just a natural upgrade of what they're already doing with US and then this idea.

Speaker Change: Subscription and support revenue grew just over 10% in constant currency.

Alex: Our life Sciences cloud becomes as highly differentiated capability from everything currently available in the market and allows these pharma med tech companies. So many to be able to streamline not just their clinical operations all of their customer facing even the ones who wanted to go to direct to consumer even the ones who wanted to clinical trials.

Speaker Change: Q4 revenue with $10 billion up 8% year over year in nominal this includes approximately $75 million incremental FX headwinds since our last guidance, resulting in 9% growth year over year in constant currency.

Speaker Change: Scripture and support revenue grew 9% year over year in constant.

Alex: And this idea that agents are going to make all of that so much better and with agent for sales agents for example, with Pfizer.

Speaker Change: Given the stability in sales service and platform, partially offset by Neil soften capital out who had very tough prior year comparison.

Alex: They've got 20000 customer facing employees and customer facing.

Alex: Folks.

Speaker Change: From a geographic perspective, Americas revenue grew 8% in nominal and constant currency EMEA grew 6% or 7% in constant currency and APAC grew 10% towards 14% constant currency.

Alex: That is just a radical extension for them with agents and I'll have to slot in one last one because.

Alex: I will tell you I'm sure a lot of you look like I have flown in Singapore are you know what it's a great airline of the C. O go is amazing and key.

Speaker Change: We saw strong new business growth in Latam, Japan, and Canada, well parts of EMEA remained constrained.

Alex: He has a huge vision that also came out of Dream force, where they've already deliver the probably the best service of any airline in the world They want to deliver it through agents, so whether you're doing it with service or sales or marketing or commerce or all of the different things that Singapore air is doing with us you're going be able to do.

Speaker Change: Of note the United States telephone stabilization in the corner.

Speaker Change: From an industry perspective, Q4, health and life Sciences Communications and media both performed well.

Speaker Change: Tech and manufacturing automotive and energy more measured.

Alex: This right on Singapore Air Alright, well I know all of you want to see this in person talk to these customers yourself you can go to help that Salesforce Dot com, Brian is going to talk about that when you hear the numbers, we delivered in the quarter, there youre going not going to believe it.

Speaker Change: And as you heard from Brian our multi cloud momentum continues as customers turn to our deeply unified platform.

Speaker Change: While our top 100 deals in the quarter averaged six cloud and all of our top 10 wins included AI data cloud service platform and industry clouds.

Alex: And listen.

Speaker Change: A lot of people say to me Hey, how are you different from these other agent companies number one.

Speaker Change: Our data and AI and momentum continues as we move towards a world where AI is ubiquitous and embedded in every tank work flows are investments in this space have been deliberate and focused and we are now starting to yield strong returns.

Speaker Change: Go to those other vendors go to their sites are they running their agent technology, you've all been on help that Salesforce Dot com you. All know this incredible capability that we're delivering you've seen it deployed by these other customers like equinox and remarkable and others.

Speaker Change: We ended the year with 900 million and data cloud and <unk> annual recurring revenue growing nearly 120% year after year.

Speaker Change: Got your hands on do you see the other scaled vendors delivering this capability or are they just using the word agent either you've got to Beware beware of the false agent because the false agent is out there where people can use the word agent or they've got out there.

Speaker Change: As Mark shared we closed more than 3000 paid agent force deals in the quarter.

Speaker Change: Customers continue to harness the value of AI deeply embedded across our unified platform. It is no surprise that these customers averaged nearly four clouds and these customers came from a diverse set of industries with more than half in technology manufacturing financial services and HLA.

China White whitewash all the agents the thing everywhere, but the reality is there is the real agents and they are the false agents and we're very fortunate to have the real stuff going on here. So we've got a lot more groundbreaking AI innovation come in I can't wait for you to see that our trailhead Dx event.

Speaker Change: Q4 revenue attrition ended the quarter slightly above 8% in line with recent quarters.

Speaker Change: Next week and Thats going to be March 5th and six in San Francisco looking towards seeing all of you there and showing you that and I will tell you. While you are there and why it didn't hit it.

Speaker Change: non-GAAP Q4, non-GAAP operating margin was 33, 1% up 170 basis points year over year, driven by top line outperformance and disciplined expense management.

Speaker Change: Got to see this new product, we've just built which is tableau next.

Speaker Change: I'm sure a lot of you know tableau, you probably use it every day.

Speaker Change: GAAP operating margin was 18, 2% up 70 basis points year after year.

Speaker Change: When you see what we have built which is the new tableau built with agent force on the data cloud and how it's deeply integrated into our product line is going to blow your mind. It is incredible you've got to make sure you get a demo of tableau next you won't believe it youre going.

And for the full year I am very pleased with our non-GAAP operating margin of 33% up another 250 basis points year over year.

Speaker Change: GAAP operating margin was 19% up 460 basis points year after year inclusive.

Speaker Change: See the new slack, you're going to see the new sales cloud service cloud marketing cloud Commerce cloud the platform agent force all the products with new field service product, which is incredible.

Speaker Change: Incremental restructuring charges, we incurred in Q4.

Speaker Change: Q4, operating cash flow was nearly $4 billion up 17% year over year Q4 free cash flow with $3 8 billion also up 17% year over year and.

Speaker Change: You might get a glimpse of the new <unk> product that's coming in if you look hard but the big thing that I am excited about okay. The big thing that I'm really excited about.

Speaker Change: For the full year operating cash flow was a record $13 1 billion up 28% year over year, and that's inclusive of predicted 10 cash tax heartland.

Speaker Change: Is tableau next because that's about to deploy to customers at scale.

And I think people are going to be absolutely.

Speaker Change: And as we said driving strong free cash flow remains a key component of our profitable growth strategy.

Speaker Change: Alright, now before I do that I have to get out the kleenex, because I have to say goodbye to Brian and Amy who.

Speaker Change: Fiscal year 'twenty five free cash flow was $12 4 billion up 31% year over year.

Speaker Change: It's kind of Ah Ah moment in time here, where Brian has been here for I think 25 years 26 years. He's just wearing one of the many watches that I'd give it to him to recognize this performance in EMEA here as well she is not worrying one of her watches but she has them at home probably in her jewelry case or.

Speaker Change: Turning to remaining performance obligation RPM, which represents all future revenue under contract. We passed 60 billion for the first time in company history.

Speaker Change: Q4 finished at an incredible 63 4 billion.

Speaker Change: Our save for something and.

Speaker Change: 11% year over year, representing our customers long term commitment to sales force and the durability of our business model.

Speaker Change: No Amy how long it's been 12 years.

Speaker Change: 11 years with Amy and.

Speaker Change: Current RPI or CRP L ended at 32 billion, an increase of 9% year over year in nominal currency. This includes a $300 million FX headwind, which resulted in an 11% year over year growth in constant currency.

Speaker Change: Going through a little bit of a transition of our management team between fiscal year, 'twenty, five and 26, and we want to say goodbye and thank you we want to say mahalo, and we want to say goodbye, which is of Hooey Ho.

Speaker Change: Thank you so much for everything and we're going to let them talk and also say their goodbyes, but we're so grateful to everything that you've done for US every single day over the last 25 in 11 years.

Speaker Change: Driven by strong performance in data cloud and AI and slack.

Speaker Change: Q4, CRP L also benefited significantly from strong early renewals.

Speaker Change: It's been great to have you part of our management team and Youre welcome back anytime so.

Speaker Change: Within our bookings this quarter, we again saw continued stabilization in our transactional businesses, including creating clothes and F&B.

Speaker Change: And if you get lonely out there on the golf course, or I know <unk> got some big plans that she is not ready to announce yet in the.

Speaker Change: On capital return in fiscal 'twenty, five we executed seven 8 billion in share repurchases and issued $1 5 billion in dividends.

Speaker Change: In the NGL World, but I will tell you that.

Speaker Change: You guys get lonely or are you missing the thrill of the hunt come back and see us because.

Speaker Change: Capital return program, we more than fully offset dilution from FY 'twenty five stock based compensation.

Speaker Change: We're going to be.

Speaker Change: Ready for you to come back Okay, Alright, Brian I really appreciate it.

Speaker Change: And since the inception of our capital return program. We have now returned more than 21 billion to shareholders.

Speaker Change: It's been a privilege of a lifetime to work here for more than 25 years very few people get to started a campaign zero revenue and <unk> 38 billion. The journey has been remarkable and this year was certainly the capstone.

Speaker Change: Now, let's turn to guidance.

Speaker Change: Starting with full fiscal year 'twenty six we expect revenue of $40 5 billion to $40 9 billion growth of approximately 78% year over year and nominal in constant currency.

Speaker Change: As you heard from Mark and just one quarter agent for US has been deployed by thousands of brands worldwide, becoming incredible lever for productivity growth inefficiency, it's Hal.

Speaker Change: <unk> faster than we ever expected.

Speaker Change: And just for subscription and support revenue, we expect growth of approximately 9% year over year in constant currency.

Speaker Change: With our deeply unified platform seamlessly integrating our customer 360 apps data cloud and agent force, we're leading the digital labor Revolution customers of every size across every industry are seeing immediate and substantial value with agent force.

Speaker Change: Now I want to pause and give a few important notes on this guidance.

Speaker Change: First on foreign exchange as Mark noted, we've seen the U S dollar strengthened considerably and even since our last earnings call that movement has driven an incremental 200 million dollar headwind.

Speaker Change: Setting new standards in the industry open table is a great example of how agent.

Speaker Change: <unk> agent for US is having an immediate impact in just three weeks, it's handling 73% of all restaurant web queries, a 50% improvement over their previous tool and they're not alone the future group surveyed customers and found that agent force can achieve ROI fast five times faster than DIY, while lowering costs by 20%.

Speaker Change: 26 revenue.

Speaker Change: Our revenue guidance now incorporates an approximately half a point year over year headwind.

Speaker Change: Second as we experienced in fiscal 'twenty five we continue to expect our professional services business to be a headwind to growth. This year, which is reflected in our guidance for total revenue.

Speaker Change: And technology analysts burned by war found agent agent Force delivers autonomous AI agent 16 times faster versus DIY approaches with 75% increased accuracy.

Speaker Change: No that is part of our overall implementation strategy, we are leaning more on our partner ecosystem as you heard from Brian partners were involved in 50% of our agent force winds and 70% of agent Force Activations in Q4.

Speaker Change: We continue to see significant increase in large multi cloud transactions as companies look to accelerate faster time to value efficiency and growth.

Speaker Change: Third we expect subscription and support revenue to be lifted by momentum in data cloud and some contribution from agent force this year.

Speaker Change: Good year is partnering with us on their transformation using agent for us to automate and increase the effectiveness of their sales efforts with agent for us for field service Goodyear will be able to reduce repair time by assisting technicians with answers to vehicle related questions and atomically scheduling field tax appointments.

Speaker Change: Partially offset by weakness in marketing and commerce and slower growth in our exploration base in FY 'twenty sacks.

Speaker Change: Finally on ancient toward we are incredibly excited about the customer momentum we are seeing.

Speaker Change: We also continue to embed in the genic layer across our own business today, We're live on agent force across service and sales our business technology organization and customer support and more and the results are phenomenal since launching on our sales force helped oral on October agent Force is autonomously handled 380000 service request achieving.

Speaker Change: However, the adoption cycle is still early and we focus on deployment with our customers.

Speaker Change: As a result, we are assuming a modest contribution to revenue in fiscal 2006, we expect the momentum to build throughout the year driving a more meaningful contribution in fiscal 'twenty seven.

Speaker Change: Incredible, 84% resolution rate and only 2% of the request require human escalation.

Speaker Change: And on attrition, we expect attrition to remain consistent slightly above 8% for the full year.

Speaker Change: And we're using agent force for quoting accelerating our quoting cycles by more than 75% in Q4, we increased our AE capacity, while still driving productivity up 7% year over year.

Speaker Change: Now turning to profitability and cash flow.

Speaker Change: On margins I want to reiterate that the company remains committed to ongoing expansion. The company has laid a strong foundation for continued margin progression efficiency and disciplined investments.

Speaker Change: Agent Force is transforming how we do outbound prospecting already engaging more than 50 leads per day with personalized outreach and timely follow ups freeing up our teams to focus on high value conversation our reps are participating in thousands of sales coaching training sessions each month.

Speaker Change: Fiscal year 'twenty six non-GAAP operating margin is expected to be 34%.

Speaker Change: Presenting another 100 basis points of expansion year over year.

Speaker Change: This incorporates intentional investments in high growth opportunities, most notably in agent force and data cloud.

Speaker Change: Data cloud has a powerful network effect as usage expands the platform becomes more intelligent and more valuable and Thats why were seeing companies around the world, including <unk>.

Speaker Change: And I'd like to call out that from a pace perspective, we do expect a ramp in margins throughout the year.

Speaker Change: Bell, Canada don't take Cabana continue to invest in data cloud and to build the foundation to implement agents at scale.

Speaker Change: Stock based compensation is expected to stay relatively flat year over year as a percent of revenue.

Speaker Change: Cash at bank, which happens to be Spain's leading bank is using data cloud to create a robust data infrastructure that supports its organic transformation and enables them to drive faster and more consistent customer experiences.

Speaker Change: We expect fiscal year 2006, GAAP operating margin of 21, 6% representing more than 250 basis points of improvement year over year.

Speaker Change: As you know the true value of AI is in the data nearly half of the Fortune 100 are both AI and data cloud customers and all of our top 10 wins in Q4 included data cloud and AI.

We expect fiscal year 2006, GAAP diluted EPS of $6 95 to $7 three.

Speaker Change: non-GAAP diluted EPS is expected to be $11 nine to $11 in 17.

Speaker Change: Asia forces Revolutionary Revolutionizing, how our customers work.

Speaker Change: As we have mentioned over the last few years, we remain focused on driving durable cash flow growth. We expect fiscal year 2006, operating cash flow growth of approximately 10% to 11% and we are not expecting a material headwind from cash taxes. This year.

Speaker Change: By bringing AI powered insights and actions directly into the workflows across the customer 360 applications. This is driving strong growth across our portfolio of sales cloud and service cloud both achieved double digit growth again in Q4, we're seeing fantastic momentum with slack with customers like zoom info remarkable and minus health using agents Morrison.

Speaker Change: We expect capex for the fiscal year to be approximately 2% of revenue again. This result in free cash flow growth of approximately 9% to 10% for the fiscal year.

Speaker Change: Slack to boost productivity.

Speaker Change: Once again <unk> was included in over a third of our deals over $1 million and its contribution to the overall deal size increased double digits year over year.

Speaker Change: Now to guidance for Q1.

Speaker Change: On revenue, we expect $9 71 billion to $9 76 billion up 6% to 7% year over year in nominal and 7% in constant currency.

Speaker Change: With nearly 5 billion messages sent weekly slack is central to how people work going forward. We're confident <unk> will be the place where every company brings digital labor to all of their employees, enabling collaboration with agent for us to get work done.

Speaker Change: As a reminder, we are lapping the one point leap year benefit we noted last Q1 as well as the benefit from license revenue timing.

Speaker Change: Tableau mule software are mission critical to our customers with each featured in nearly half of our greater than $1 million deals tableau now integrated with data cloud agent for us on the Salesforce core platform will transform how customers like Echostar <unk> insurance and Keller Williams Realty take action on their data customers can now unlock access.

Speaker Change: <unk> growth for Q1 is expected to be approximately 10% year over year in nominal including a 100 million dollar FX headwind, resulting in slightly above 10% in constant currency.

Speaker Change: For Q1, we expect GAAP EPS of $1 49 to $1 51.

Speaker Change: Insights from conversational analytics manage.

Speaker Change: And analyze data using AI assistance and build analytical agents with integrated workflows. Similarly mill soft is transforming how industry leaders like Banco Bradesco, Fujitsu and semi Honda mobility approach enterprise integration.

Speaker Change: And non-GAAP EPS of $2 53 to $2 55.

Speaker Change: In closing I'm very pleased with our strong finish to the year and the foundation. We have set in place for continued success and I want to thank our employees for their dedication and execution throughout the year.

Speaker Change: With agent driven integration and added about connect connectors for every major system customers simply describe their needs in natural language and our AI automatically build the solution.

Speaker Change: I also wanted to extend my gratitude to our shareholders and investment community for your continued support it has really been a privilege working with all of you.

Speaker Change: Agent Force is also enabling us to deliver truly transformative solutions for every industry and region in Q4, nearly half of our top 100 wins, where international including wins with companies like one New Zealand LG electronics and Versace are.

Mike: Mike do you want to open up the call for questions.

Speaker Change: Thanks.

Speaker Change: Operator, we are ready to take questions now as a reminder, we ask everyone to limit to one question and we will take the first question now.

Operator: Thank you Sir and the first question today comes from Keith Weiss Morgan Stanley.

Speaker Change: Our industry business, along with public sector and Dot Org finished the year at an incredible $5 7 billion in IRR up 20% year over year, all of our top 10 deals and nearly 75% of our top 100 deals, including an industry cloud.

Keith Weiss: Excellent. Thank you guys for taking the question and congratulations on a really strong end to FY 'twenty five.

Keith Weiss: I wanted to dig into the agent force opportunities can really big numbers. There in terms of the number of deals signed.

Speaker Change: And real good revenue momentum there and investors are asking Neal a lot and have a lot of questions on how the <unk> model, Hey, Keith Yes.

Speaker Change: To meet this demand we prebuilt over 170 specialized agent force industry skills, and a team of 400 specialists supporting transformations across sectors and geographies.

Keith Weiss: Yes.

Keith Weiss: Keith sorry, we the first part of your question, Yes, I can hear you now the first part of your question cut out so could you start over please.

Speaker Change: Our new channels and partner ecosystem anchored by our amazing 119 million Trailblazers are unlocking customer spend and driving agent force adoption and.

Keith Weiss: Sure so congratulations on that.

Speaker Change: Very strong quarter, a lot of focus on agent force a lot of big numbers. Their investors are asking me a lot of questions about the changing pricing model dynamics going from a seat based model to one that includes consumptive elements and how that nets out. So I was hoping you could give us some color in terms of what you guys are seeing thus far when youre doing these agent force.

And we're leaning into our ecosystem in fact partners were involved in 50% of our agent force winds in 70% of our agent force Activations in Q4.

Speaker Change: We're also working with our partners to become agent force companies themselves etcetera is using agent force sales coach, which provides personalized coaching and recommendations for sales teams, which is expected to lead to higher win rates and Deloitte is projecting significant productivity gains and saved work workforce hours as they rollout agent force over the.

Speaker Change: Contract is it expanding the overall contract size what kind of expansion are you seeing if you are seeing expansion and does the math net to the good positive for Salesforce as we move to a more consumptive model or are there any bumps in the road that we should be aware of.

Speaker Change: Next few years.

Speaker Change: Over 127000 system integrated employees have completed agent force training and more than 1000, Isps and technology partners are building and selling agents. Our agent force partner network allows customers to deploy prebuilt agents and as agent actions from partners like AWS, Google IBM Workday and more.

Speaker Change: Okay, well I'd love to address that directly and then I'm going to ask Brian to come in with some specifics and examples because I think it's so exciting I think of course, we can.

Speaker Change: Started the company out with the per user.

Speaker Change: Pricing model and that's about humans, we price per your human so you kind of pricing per human and then we have products that are also in the consumption world as well and of course those started in the early days things like our sand boxes.

Speaker Change: Earlier this week, we announced the expanded partnership with Google that Mark mentioned to empower customers to use agent force with Gemini, they're multi modal models and to deploy salesforce on Google cloud.

Speaker Change: AWS is a huge growth engine for us, helping us close a number of large deals in fact in Q4, we closed 25 transactions over $1 million, including three that were more than $10 million.

Even things like our commerce cloud.

Speaker Change: Even our email marketing product.

Speaker Change: Marketing cloud these are consumption based products we've had for years.

Speaker Change: We're starting off FY 'twenty six an incredible position with a highly accomplished and technical leadership team ready to guide us through this pivotal moment in AI and agents.

Speaker Change: And.

Speaker Change: It's always been a mix of products that we have for humans and then products that we have for our computers now we have.

These kind of products that are for agents also and agents are also a consumption model. So when we look at our data cloud for example, that's a consumption product agent forces of consumption product, but it's going to be a mix its going to be a mix between.

Speaker Change: Incredibly grateful for the opportunity and to all the leaders who have gotten us here, especially Marc and Amy it's been an honor to work alongside both of you.

Speaker Change: Thank you to our employees customers partners and shareholders I couldnt be more proud of what we've accomplished or more excited about what's ahead for salesforce.

Speaker Change: What's going on with our customers with how many humans do they have and then how many agents are they deploying <unk>.

Speaker Change: That I will turn it over to you Amy.

Amy: Great. Thanks, Brian I wanted to just carry also by expressing my God. Thank you Mark and Brian for their partnership and friendship over many many years.

Speaker Change: And one example that I can personally tell you about in the quarter. We did a large transaction with a large telecommunications company, it's incredible and when I was talking to their CEO. She was asking me how are we going to price the transaction and so forth and I can't remember the exact number of the deal I think it was was Brian maybe was about $20 million.

Speaker Change: Been an incredible journey I'm truly thankful for the opportunity.

Speaker Change: I am also absolutely thrilled to welcome Robyn <unk>, Chief operating and financial Officer.

Speaker Change: Fiscal year 'twenty with a year of incredible change with new innovation beyond anything we kind of expected just 12 months ago.

Speaker Change: <unk> something like that for the year, maybe was $60 million GCB transaction.

Speaker Change: And.

Speaker Change: Then as part of that transaction, it's a mix of we're rebuilding this telecommunications company. So its sales cloud and service cloud, it's marketing cloud. It's all of our core clouds, but then also as agent force and the agent Force component I think was maybe $7 million in the transaction.

Speaker Change: Persistence and urgency and our execution in Q4 is a reflection of that focus across the business and you can see it in our results.

Speaker Change: Let's start with revenue.

Speaker Change: For the full year revenue was $37 9 billion up 9% year over year in both nominal and constant currency subscription.

Speaker Change: She was by $7 million of agent for she bought $13 million in our products for humans and I think that was about $20 million in total as these are approximate numbers.

Speaker Change: Subscription and support revenue grew just over 10%.

Speaker Change: Thanks.

Speaker Change: Q4 revenue with $10 billion up 8% year after year in nominal this includes approximately $75 million of incremental FX headwinds since our last guidance, resulting in 9% growth year over year in constant currency.

Speaker Change: That's kind of the idea that you're going to see us be able to deliver.

Speaker Change: The right package for the right customer even if you look at Salesforce as I mentioned here we are.

Speaker Change: Description and support revenue grew 9% year over year in constant driven by stability in sales service and platform, partially offset by Neil soften capital L, who had very tough prior year compares.

Speaker Change: Working in this world and kind of Brian has hit on it we did what 360000 transactions in the quarter with agent force on helped US Salesforce Dot Com 380, and then whether you have about <unk>.

Speaker Change: Several thousand customer support reps.

Speaker Change: From a geographic perspective, Americas revenue grew 8% in nominal and constant currency EMEA grew 6% or 7% in constant currency and APAC grew 10% to 14% at constant currency.

Speaker Change: And so we have our service cloud ready and we are the agent force running we have our different products running than our of course, our service cloud is deeply integrated with our service sales cloud and other products.

Speaker Change: So it's going to be a mix and I think that the mix is the most exciting thing.

We saw strong new business growth in Latam, Japan and Canada.

Speaker Change: I don't know any company due to a 100% agents I don't know of any company that doesn't need automation for its humans.

Speaker Change: Parts of EMEA remain constrained.

Speaker Change: United States telephone stabilization in the corner.

Speaker Change: Any company that doesn't need a data cloud where it needs.

Speaker Change: From an industry perspective in Q4 health and life Sciences Communications and media, both performed well, while tech and manufacturing automotive and energy more measured.

Speaker Change: <unk> common data repository for all of its agents to gain their intelligence and I don't know any company, that's not going to need an agenda layer and that idea.

And as you heard from Brian our multi cloud momentum continues as customers turn to our deeply unified platform.

Speaker Change: Having apps data and agents I think is going to be the winning combination you want to actually give the real details known exactly right as Trinity as you called it Mark CRM plus data plus agents is really what our customers are coming to us for.

Speaker Change: Our top 100 deals in the quarter averaged six cloud.

Speaker Change: All of our top 10 wins included AI data cloud service platform and industry clients.

Speaker Change: Our Keith our objective is how do we serve the customers and focus on customer success, how do we give them what they need to go drive their business forward, both from a productivity and from an efficiency perspective.

Speaker Change: Our data and AI and momentum continues as we move towards a world where AI is ubiquitous and embedded in every tank work flows.

Speaker Change: The pricing models will change over time, there is no doubt about it.

Speaker Change: Our investments in this space have been deliberate and focused and we are now starting to yield strong returns.

Speaker Change: Nice thing that we've seen with our customers is they really understand the ROI associated with digital labor, what we're able to provide with agents is really driving the velocity of transactions that we've seen.

Speaker Change: We ended the year with 900 million and data cloud and all of our own annual recurring revenue growing nearly 120% year after year.

Speaker Change: Mark mentioned, the 3000 transactions that we closed in the fourth quarter really driven on our ROI model that people understand that they can get a tremendous amount of benefit from from agents.

Speaker Change: As Mark shared we closed more than 3000 paid agent force deals in the quarter.

Speaker Change: Customers continue to harness value its AI deeply embedded across our unified platform. It is no surprise that these customers average nearly four clouds.

Speaker Change: We'll probably move into the near future from conversations as we price most of our initial deals to universal credits will allow our customers form of flexibility in the way they transact with us, but we see this as significantly upside significant upside to our pricing structures going forward.

Speaker Change: And these customers came from a diverse set of industries with more than half in technology manufacturing financial services and HLA.

Speaker Change: Q4 revenue attrition ended the quarter slightly above 8% in line with recent quarters.

Speaker Change: And that's what we've seen in the early days with our engagement customers directly address like here's a transaction that youre doing let's say a customer comes in they're very interested in building an agenda layer on their company is.

Speaker Change: non-GAAP Q4, non-GAAP operating margin was 33, 1% up 170 basis points year over year, driven by top line outperformance and disciplined expense management GAAP operating margin was 18, 2% up 70 basis points year after year.

Speaker Change: Is that bringing other human based clouds, along with it no doubt and I think what we've seen is that we have.

Speaker Change: Incremental.

Speaker Change: Strength in our core technology, the CRM core technology, you saw in the quarter we had.

Speaker Change: And for the full year I'm very pleased with our non-GAAP operating margin of 33% up another 250 basis points year over year.

Speaker Change: Some good performance in both sales and service cloud both above 10% growth in the quarter and so we are seeing people leverage our core technology of the named pricing models with our four apps.

Speaker Change: GAAP operating margin was 19% up 460 basis points year after year inclusive of any incremental restructuring charges, we incurred in Q4.

Speaker Change: And agents together to go drive the efficiencies that they are looking for.

Speaker Change: Really played out and when you do come to trailhead Dx and you do see that new Tableau next I think what youre going to see us.

Speaker Change: Q4, operating cash flow was nearly 4 billion up 17% year over year Q4 free cash flow with $3 8 million also up 17% year over year.

Speaker Change: Tableau that was only built for humans before but now as deeply integrated in the data cloud and has a deep agenda layer as well, so youre going be able to come to your own conclusions get your prior hands on these products talk to our customers. We're an exciting moment okay. Thanks.

Speaker Change: And for the full year operating cash flow was a record $13 1 billion up 28% year over year, and that's inclusive of a projected 10 point cash tax heartland.

Speaker Change: Thanks, Keith Operator, we'll take the next question. Please thank you Sir and our next question comes from Kirk Mccarran Evercore ISI.

Speaker Change: And as we said driving strong free cash flow remains a key component of our profitable growth strategy.

Kirk Mccarran: Hi, yes, thanks very much for taking the question.

Speaker Change: Fiscal year, 'twenty, five free cash flow with $12 4 billion up 31% year over year.

Kirk Mccarran: Brian and Mark I was wondering if you just talk about you referred to it a little bit but.

As agent force builds obviously not every company is going to be ready to potentially go at gentex today, but its agent force, having a bit of a halo effect around some of your other products, meaning as we are on the journey to get more monetization from agent force are you seeing pickups or at least higher activity levels in some of your other products that to Brian to your point.

Speaker Change: Turning to remaining performance obligation RPM, which represents all future revenue under contract. We passed 60 billion for the first time in company history.

Speaker Change: Q4 finished at an incredible $63 4 billion.

Speaker Change: 11% year over year, representing our customers long term commitment to sales force and the durability of our business model.

Kirk Mccarran: So for them this holiday this Trinity.

Kirk Mccarran: Exactly right.

Kirk Mccarran: And we're seeing it in a way that our customers are using our technology, new ideas, new workflows new engagements.

Speaker Change: Current RPI or CRP L ended at 32 billion, an increase of 9% year over year in nominal currency. This includes a $300 million FX headwind, which resulted in a 11% year over year growth in constant currency driven by strong performance in data cloud and AI and flat.

Kirk Mccarran: We talked about <unk> as an example, their ability to handle leads.

Kirk Mccarran: After hours that they weren't able to get back to a respond to in a quick quick.

Kirk Mccarran: Quick timeframe are now able to touch and engage with those leads and then that of course flows into their their salesforce automation system and so we are seeing this halo effect with our core technology. It is making every single one of our core apps better as they deliver intelligence underpinning these applications and so.

Speaker Change: <unk>.

Speaker Change: Q4, CRP L also benefited significantly from strong rally Brent LLS.

Speaker Change: Within our bookings this quarter, we again saw continued stabilization in our transactional businesses, including creative cloud and F&B.

Kirk Mccarran: It is the message that we're delivering this trinity of of apps data and agents that are really compelling to our customers.

Speaker Change: On capital return in fiscal 'twenty, five we executed seven 8 billion in share repurchases and issued $1 5 billion in dividends.

Speaker Change: Thanks, Curt. Thank you operator, we'll take next question. Please the next question is Raimo <unk> Barclays.

Speaker Change: Capital return program, we more than fully offset dilution from FY 'twenty five stock based compensation.

Speaker Change: Perfect Congrats from me as well.

Kirk Mccarran: <unk>.

Kirk Mccarran: Mark.

Kirk Mccarran: And Brian you lose some very.

Speaker Change: And since the inception of our capital return program. We have now returned more than 21 billion to shareholders.

Kirk Mccarran: <unk>.

Kirk Mccarran: Very experienced.

Kirk Mccarran: People on the team.

Speaker Change: Is the thinking in terms of combining those two roles and how do you see that playing out going forward. Thank you.

Now, let's turn to guidance.

Speaker Change: Starting with full fiscal year 'twenty sacks, we expect revenue of $40 5 billion to $40 9 billion growth of approximately 78% year over year and nominal in constant currency.

Speaker Change: Oh I'm so excited to have Robin come in as our new cocoa and I really think it's exciting because robin really has this kind of unique capability to deliver the chief operating officer position and Chief Financial Officer position and I'll tell you is we did the search one of the really top candidates that we saw.

Speaker Change: And for subscription and support revenue, we expect growth of approximately 9% year over year in constant currency.

Speaker Change: Now I want to pause and get a few important notes on this guidance.

Speaker Change: <unk> come through held this position in another company and I think as Robyn and I were talking about that.

Speaker Change: First on foreign exchange as Mark noted, we have seen the U S dollar strengthened considerably and even since our last earnings call that movement has driven an incremental 200 million dollar headwind.

Speaker Change: Leverage of having a cocoa this idea that the financial officer, and the Chief operating officer really come together as this incredible partnership to deliver this.

Speaker Change: 26 revenue.

Speaker Change: Our revenue guidance now incorporates an approximately half a point year over year headwind.

Mark: Capability just was a perfect match for US I was thinking about going with it is with this outside Canada, and Thats, where I was fortunate to be able to convince Robyn to take the job and Robin would you like to just say something and just kind of come in here and just tell us about how excited you are to be part of the management team share Mark.

Speaker Change: Second as we experienced in fiscal 'twenty five we continue to expect our professional services business to be a headwind to growth. This year, which is reflected in our guidance for total revenue.

Speaker Change: Note that as part of our overall implementation strategy, we are leaning more on our partner ecosystem as you heard from Brian partners were involved in 50% of our agent force wins and 70% of agent Force Activations in Q4.

Speaker Change: And as you've heard Brian Amy and Mark talk about it as an exciting opportunity for US right now with agent for us So I'm elated to be able to join forces with the operating team.

Speaker Change: It's an exciting time in our industry as well and as you've heard us talk about the Trinity and are deeply unified platform. I think we clearly are able to have.

Speaker Change: Third we expect subscription and support revenue to be lifted by momentum in data cloud and some contribution from agent for us This year.

Speaker Change: Partially offset by weakness in marketing and commerce and slower growth in our exploration.

Speaker Change: You have something thats going to support our customers' growth and productivity in this new area in this new era I should say with the result of sustainable and profitable revenue growth for Salesforce and long term.

Speaker Change: In FY 'twenty sacks.

Speaker Change: Finally on ancient fourth we are incredibly excited about the customer momentum we are seeing.

Speaker Change: I just wanted to also I should also really think Magellan mulatto as you probably know came back as our chief revenue officer.

Speaker Change: However, the adoption cycle is still early as we focus on deployment with our customers.

Speaker Change: As a result, we are assuming a modest contribution to revenue in fiscal 2006, we expect the momentum to build throughout the year driving a more meaningful contribution in fiscal 'twenty seven.

Speaker Change: A year ago.

Speaker Change: He decided.

Speaker Change: To rejoin us after some controlling them.

Speaker Change: And I've asked him to work directly for me running our worldwide sales organization and so I've been so thrilled about that and I also have to think <unk>, who is our chief Engineering Officer is now our Chief Engineering and services Officer, who has taken on customer service and support and it's been a rebalancing of our management team. So we have this amazing new.

Speaker Change: And on attrition, we expect attrition to remain consistent slightly above 8% kind of full year.

Speaker Change: Now turning to profitability and cash flow.

Speaker Change: On margins I want to reiterate that the company remains committed to ongoing expansion. The company has laid a strong foundation for continued margin progression efficiency and disciplined investments.

Speaker Change: New executive with Robin I couldnt be more excited to be half or by my side, just as a little side note Robyn will tell you I've been trying to convince her to join the company for over a decade and so I finally got her after a lot of selling so.

Speaker Change: Fiscal year 'twenty six non-GAAP operating margin is expected to be 34%, representing another 100 basis points of expansion year over year.

Speaker Change: Thrilled to have Robin with us.

Speaker Change: This incorporates intentional investments in high growth opportunities, most notably in AG forest and data cloud.

Speaker Change: And joining us.

Speaker Change: Direct operating executive from the Board and then having Miguel is so exciting of course, having Parker with me as well is so critical.

And I'd like to call out that from a pace perspective, we do expect a ramp in margins throughout the year.

Speaker Change: Stock based compensation is expected to stay relatively flat year over year as a percent of revenue.

Speaker Change: And also as I mentioned trainee is running services and engineering and Steve Fischer being.

Speaker Change: We expect fiscal year 2006, GAAP operating margin of 21, 6% representing more than 250 basis points of improvement year over year.

Speaker Change: Being promoted recently to our chief product officer, or actually our Chief Technology officer running products and our Chief product Officer, David Schmierer also with expanded responsibilities working directly for me.

Speaker Change: We expect fiscal year 2006, GAAP diluted EPS of $6 95 to $7 three.

Speaker Change: David is now our chief product and impact officer.

Speaker Change: non-GAAP diluted EPS is expected to be $11 nine to $11.17.

And this is I couldnt be more thrilled I also have a great chief of staff <unk> and our whole team around me with so many incredible functions and capabilities and of course smiling and waving at me across the table is Sebastian miles my Chief legal officer, who.

Speaker Change: As we've mentioned over the last few years, we remain focused on driving durable cash flow growth, we expect fiscal year 'twenty operating cash flow growth of approximately 10% to 11% and we are not expecting a material headwind from cash taxes. This year.

Speaker Change: He has done an unbelievable job since joining the company. So I don't think I've ever had a better management team I mean, it's hard to beat avian Brian, but I think maybe we did it but we're really thrilled so sorry, Amy O'brien, the subsea Yugo Julio but welcome to the new management team and we're so thrilled to have them.

Speaker Change: We expect capex for the fiscal year to be approximately 2% of revenue again, this brief thoughts and free cash flow growth of approximately 9% to 10% for the fiscal year.

Speaker Change: Now to guidance for Q1.

Speaker Change: Since we're so excited to start fiscal year 'twenty six with an absolute bag and Robin did you want to and with any parting comments.

Speaker Change: On revenue, we expect 971 billion to $9 76 billion up 6% to 7% year over year in nominal and 7% in constant currency.

Speaker Change: Right.

Speaker Change: Very good she is ready for the next question. Thanks, Raimo, Let's go to the next question. Please operator.

Speaker Change: As a reminder, we are lapping the one point leap year benefit we noted last Q1 as well as the benefit from license revenue timing.

Operator: Next is Brent Thill Jefferies.

Brent Thill: Thanks, Marc just on dose and the impact of what the federal and state States.

<unk> growth for Q1 is expected to be approximately 10% year over year in nominal.

Operator: States.

Operator: Sure I'm curious if you could discuss your role and what you think this means.

Speaker Change: A 100 million dollar FX headwinds, resulting in slightly above 10% in constant currency.

Operator: For Salesforce.

Speaker Change: For Q1, we expect GAAP EPS of $1 49 to $1.51 and non-GAAP EPS of $2 53 to $2 55.

Operator: Well I don't have any role.

Operator: I think.

Operator: Of course.

Operator: Coming out this was a beginner's mind like I'm sure all of US are that we want to see what they.

Speaker Change: In closing I'm very pleased with our strong finish to the year and the foundation. We have set in place for continued success and I want to thank our employees for their dedication and execution throughout the year.

Operator: Are able to deliver with the new administration or.

Operator: Huge fans of the United States of America, we want us to be a successful countries, we possibly can be and that also includes having something that I think is critically important for us which is a balanced budget something.

Speaker Change: Also wanted to extend my gratitude to our shareholders and investment community for your continued support it has really been a privilege working with all of you.

Operator: Encouraged every president that I work with.

Mike Spencer: Mike do you want to open up the call for questions.

Operator: Quite a few administrations to achieve we're thrilled with our relationship with the government you know that.

Speaker Change: Thanks.

Mike Spencer: Operator, we're ready to take questions now as a reminder, we ask everyone to limit to one question and we will take the first question now.

Operator: Have so many agencies that depend on us from providing support for veterans who are veterans administration.

Thank you Sir and the first question today comes from Keith Weiss Morgan Stanley.

Operator: So many other groups and I think even though just using slack to manage their communication and coordination so yes. It.

Speaker Change: Excellent. Thank you guys for taking the question and congratulations on a really strong end to FY 'twenty five.

Keith Weiss: Wanted to dig into the agent force opportunities can really big numbers. There in terms of the number of deals signed.

Operator: We will work closely with the government will do everything we can to help them succeed and we wish them only the best and we're here to help at every step of the way and we want the U S to be as.

Keith Weiss: And then real good revenue momentum there investors are asking Neal a lot and have a lot of questions on how the pricing model, Hey, Keith yes.

Operator: As successful as it possibly can.

Keith Weiss: Yes, yes.

Speaker Change: Thanks, Brent operator, we'll go to the next question. Please next step from Jpmorgan, It's Mark Murphy.

Keith Weiss: Keith sorry, we inherit the first part of your question, Yes, Hi can you hear me now the first part of your question cut out so could you start over please.

Speaker Change: Thank you so much Mark you had mentioned this labor arbitrage and the jobs are going to evolve when do you think through the scale of that kind of an opportunity how much labor do you think you can augment or replace for instance.

Keith Weiss: Perfect. So congratulations on that.

Speaker Change: Very strong quarter, a lot of focus on agent force a lot of big numbers. Their investors are asking me a lot of questions about the changing pricing model dynamics going from a fee based model to one that includes consumptive elements and how that nets out. So I was hoping you could give us some color in terms of what you guys are seeing thus far when youre doing these agent force.

Mark Murphy: Could a company with 1000 employees.

Speaker Change: Slow its hiring or stopped hiring.

Brent Thill: Yeah, just layer in a couple of hundred agent Force, Boston and maybe accelerated script and then further to brents point kick can.

Speaker Change: Contract is it expanding the overall contract size what kind of expansion are you seeing if you are seeing expansions and does the math net to the good positive for Salesforce as we move to a more consumptive model are there any bumps in the road that we should be aware of.

Brent Thill: Can we apply that concept to federal government agencies that they have 3 million workers.

Brent Thill: And some of them are going to leave voluntarily could they layer in hundreds of thousands of these agent force.

Brent Thill: Bots and see some greater efficiency.

Speaker Change: Okay, well I'd love to address that directly and then I'm going to ask Brian to come in with some specifics and examples because I think it's so exciting I think of course.

Brent Thill: Yes.

Brent Thill: Well I think that I.

Brent Thill: I could wave you away and say I don't really know yet, but I will tell you that since I'm. The CEO of a 75000 person company or how many employees do we have now $75 76000 and so.

Speaker Change: Started the company out with the per user.

Speaker Change: Pricing model and that's about humans, we price per your human so you kind of pricing per human and then we have products, though that are also in the consumption world as well and of course those started in the early days things like our sand boxes.

Brent Thill: Let's just look at us. So we have got 9000 support agents, we really are seeing tremendous efficiency with helped that salesforce dot com. So we may see the opportunity to rebalance some of those folks in the sales and marketing and other functions. We're really excited about that.

Speaker Change: Even things like our commerce cloud.

Speaker Change: Even our email marketing product.

Brent Thill: I would say that we're definitely have seen a lot of efficiency with engineering and some with some of the new tools that I've seen, especially some of these high performance coating tools one.

Speaker Change: Marketing cloud these are consumption based products we've had for years.

Speaker Change: And.

Speaker Change: It's always been a mix of.

Speaker Change: Products that we have for humans and then products that we have for our computers now we have.

Brent Thill: One of the key members of my staff was here in the room with us as to should we one of his new <unk>.

Speaker Change: These kind of products that are for agents also and agents are also a consumption model. So when we look at our data cloud for example, that's a consumption product agent forces of consumption product, but it's going to be a mix its going to be a mix between <unk>.

Brent Thill: Examples of what we're able to do with these coding tools pretty awesome and we're not going to hire any new engineers. This year, we're seeing 30% productivity increase on engineering, and we're going to really continue to ride that up and.

Brent Thill: We're going to grow sales pretty dramatically. This year, Brian has got a big vision for how to grow the sales organization.

Speaker Change: What's going on with our customers with how many humans do they have and then how many agents are they deploying I think and one example that I can personally tell you about in the quarter. We did a large transaction with a large telecommunications company, it's incredible and when I was talking to their CEO. She was asking me how are we going to price the transaction.

Brent Thill: Another 10% to 20% I hope this year, because we're seeing incredible levels of demand I think every company, who is our customer or prospect wants us to come in and start talking about what we're going to do with them and how we're going to transform them everybody sees the opportunity.

Speaker Change: And so forth and I can't remember the exact number of the deal I think it was was Brian maybe was about $20 million.

Brent Thill: The big message I have for a lot of Ceos that I mean, it is hey, you know where the last generation of Ceos to only manage humans.

Speaker Change: <unk> something like that for the year, maybe it was $60 million GCB transaction.

And then as part of that transaction, it's a mix of we're rebuilding this telecommunications company sold sales cloud and service cloud, it's marketing cloud. It's all of our core clouds, but then also it's agent force and the agent Force component I think was maybe $7 million in the transaction.

Brent Thill: I think every CEO going forward is going to manage.

Brent Thill: Humans and agents together I know, that's what I'm doing. So this is what I have to think about every single day as the CEO and I think everyone is going to have to start to think about that it's definitely starting because as I mentioned I was with a large Seo group last week.

Speaker Change: So she was by $7 million of agent for she bought $13 million in our products for humans and I think that was about $20 million in total as these are approximate numbers.

Brent Thill: It was a topic of conversation in every single person that I met with and with whether it's those life Sciences Ceos that we mentioned or financial services Ceos or manufacturing Ceos and every example, they can see how agents are going be able to augment their workforce and I can think you can see it all.

Speaker Change: That's kind of the idea that you're going to see us be able to deliver.

Speaker Change: The right package for the right customer you're going to if you look at Salesforce. So as I've mentioned here we are.

Brent Thill: In the global economy that I think productivity is going to rise without additions to more human labor, which is good because human labor is not increasing and the global workforce. So you have a stagnant human workforce worldwide. So if you want productivity to go up and you want GDP to grow up and you want growth.

Speaker Change: Working in this world and kind of Brian has hit on it we did what 360000 transactions in the quarter with agent Force and helped US Salesforce Dot Com 380, and then whether you have about seven.

Speaker Change: Several thousand customer support reps and so we have our service cloud ready and we have agent force running we have different products running than our of course, our service cloud is deeply integrated with our service sales cloud and other products. So it's going to be a mix and I think that the mix is the most exciting thing I don't know any come.

Brent Thill: I think that digital labor is going to be one of the catalysts to make that happen and I was talking with a significant amount of economists and the economic leader last week.

Dave: Thank you Dave.

Dave: I think everyone's on the same page that we could see something really dramatic and this is our <unk>.

Speaker Change: Due to a 100% agents I don't know of any company that doesn't need automation for its humans I don't know any company that doesn't need a data cloud where it needs a consistent common data repository for all of its agents to gain their intelligence and I don't know any company, that's not going to need an agenda layer and that idea.

Dave: And focus as a company we arent.

Dave: Building huge 10, 20 $30 billion to $100 billion data centers, we're not.

Dave: Doing some of these kind of engineering efforts that may or may not have some kind of huge payoff, but it's going to take down all of our cash in all of our margin for the next several years, where like augmenting our existing product line with artificial intelligence taking advantage of these incredible investments that are being made.

Speaker Change: Of having apps data and agents I think is going to be the winning combination do you want to actually give the real details.

Speaker Change: Right as Trinity as you call that Mark CRM, plus data plus agents is really what our customers are coming to us for.

Dave: In infrastructure by others, and we're going to deliver the digital Labor Revolution. This is our goal our goal is to be the number one provider of digital labor in the world. That's it I don't think there really is another goal because you could say, we're the number one AI CRM, which we already are but when you are the number one.

Speaker Change: Our Keith our objective is how do we serve the customers and focus on customer success, how do we give them what they need to go drive their business forward, both from a productivity and from an efficiency perspective.

Speaker Change: Pricing models will change over time, there is no doubt about it that the nice thing that we've seen with our customers is they really understand the ROI associated with digital labor, what we're able to provide with agents is really driving the velocity of transactions that we've seen.

Dave: CRM you are also going to lead the digital labor Revolution that is going to be the focus of fiscal year 2006. As I said. This is a year of digital labor and it is going to be the year, where every trailblazer is going to become an agent blazer.

Mark Hal: Mark mentioned that 3000 transactions that we closed in.

Mark Hal: The fourth quarter really driven on an ROI model that people understand that they can get a tremendous amount of benefit from from agents, we will probably move into the near future from conversations as we price most of our initial deals to universal credits will allow our customers far more flexibility in the way they transact with us, but we see this as.

Speaker Change: Great. Thanks, Operator, we'll take our last question now please.

Operator: And that question comes from Kash Rangan Goldman Sachs.

Kash Rangan: Hey, Thank you very much Mr. You, Brian in Navy, Congratulations Rob and one for you Mark.

Kash Rangan: There's a lot of talk about how we're moving from model building and training to the inference layer and also as part of that shift to agenda technology.

Mark Hal: Significantly upside significant upside to our pricing structures going forward.

Kash Rangan: It's been a lot of.

A debate about the SaaS technology, and the business model, Kansas Fast Tech stack that you built in pioneer.

Mark Hal: And that's what we've seen in the early days with our original investments directly address like here's a transaction that youre doing let's say a customer comes in they're very interested in building an agenda layer on their company.

Speaker Change: How does that fit into the Identic board is there a risk that SaaS just becomes a credit database.

Mark Hal: Is that bringing in other human based clouds, along with it no doubt and I think what we've seen is that we have.

Speaker Change: It sounds really terrible, but I am sure you have an opinion I'd love to hear it. Thank you.

Mark Hal: Incremental.

Mark Hal: Our strength and our core technology. The CRM core technology, you saw in the quarter we had.

Speaker Change: Okay, well Kash I really appreciate that and you know, we'll look at what I've heard that Microsoft narrative too. So I watch the podcast you watched and that's a very interesting idea.

Mark Hal: Some good performance in both sales and service cloud both above 10% growth in the quarter and so we are seeing people leverage our core technology, the named pricing models with our core apps.

Speaker Change: Here's the here's how I look at it which is I believe there is kind of a holy Trinity here of AI, CRM, which is the apps the data and the agents and these three things have to kind of work together and I kind of put my money, where our mouth is where we kind of built it and we delivered it and you can see the 380000.

Mark Hal: And agents together to go drive the efficiencies that they are looking for because I think you're going to.

Mark Hal: It really played out and when you do come to trailhead Dx and you do see that new tableau next I think what youre going to see us.

Mark Hal: Tableau that was only built for humans before but now as deeply integrated in the data cloud and has a deep agenda layer as well, so youre going be able to come to your own conclusions gets your prior hands on these products talk to the customers Werent exciting moment, okay. Thanks.

Speaker Change: Conversations that we had as point of evidence here in the last 90 days on our service.

Speaker Change: And with a very high resolution rate of 84% now.

Speaker Change: You can go to our so you can go to help that Salesforce dot com and you can see that today now Microsoft has had co pilot available for I think about two years or more than two years and they are out there I know that they are the reseller of open AI and they've invested there to kind of repackage. This.

Speaker Change: Thanks, Keith Operator, we'll take the next question. Please thank you Sir and our next question comes from Kirk <unk> Evercore ISI.

Kirk: Hi, yes, thanks very much for taking the question.

Kirk: Brian and Mark I was wondering if you just talk about you referred to it a little bit, but you know as agent force builds obviously not every company is going to be ready to potentially go with genentech today, but its agent force, having a bit of a halo effect around some of your other products, meaning as we are on the journey to get more monetization from agent Force are you seeing pickups are at.

Speaker Change: <unk> chat GPT, whatever but were on their side are they delivering agents were in their company have they done this where are their best practice, because I think that while they can say such a thing do they have humans and agents working together to create customer success are they rebalancing their workforce with you.

Kirk: Higher activity levels in some of your other products that Brian to your point, Yes were formed as Holly This Trinity. Thanks.

Speaker Change: <unk> and agents.

Speaker Change: I think that it's a very interesting point that yes, the egencia layers very important but it doesn't operate by itself. It operates with data with a data cloud that has to be federated through your company to all your data sources and humans, we're still here.

Kirk: Exactly right.

Kirk: And we're seeing it in a way that our customers are using our technology, new ideas, new workflows new engagements.

Kirk: We talked about <unk> as an example, their ability to handle leads after hours that they weren't able to get back to a respond to in a quick and a quick timeframe are now able to touch and engage with those leads and then that of course flows into there their sales force automation system and so we are seeing this halo effect with our core technology at <unk>.

Kash Rangan: I am here I just knocked on the table in case anybody wants to know this is not an agent and I mean, I guess, we're not very long is that actually going to be a good test, but just know that I am here and you could call me a text me cash and.

Speaker Change: Sure.

Speaker Change: I'm using those apps to like I said I've got the new tableau is amazing the sales cloud the service cloud I use I use all of our products Slack I was just on <unk>.

Kirk: Is making every single one of our core apps better as they deliver intelligence underpinning these applications and so it is the message that we're delivering this trinity of of apps data and agents that are really compelling to our customers.

Speaker Change: And that idea that our our apps.

Speaker Change: Our data cloud.

Speaker Change: And our <unk> are all integrated deliver integrated together right now and delivering value right now to our number one customer zero sales force Wow here, we go and.

Speaker Change: Thanks, Curt. Thank you operator, we'll take next question. Please the next question is Raimo <unk> Barclays.

Speaker Change: Hey, perfect Congrats from me as well.

Kirk: Got it.

Kirk: Like with Amy and Brian you lose some very.

Speaker Change: Our other vendors really doing that be aware of the false agent.

Kirk: <unk>.

Kirk: Very experienced.

Kirk: And people on the team.

Speaker Change: Go out there and take a look.

Speaker Change: What is the thinking in terms of combining those two roles and how do you see that playing out going forward. Thank you.

Speaker Change: It was really talking about it and who is really delivering and this is a rollout of engineering that has to get done to make this really work for a large enterprise like us.

Speaker Change: So I'm so excited to have robin come in as our new cocoa and I really think it's exciting because robin really has this kind of unique capability to deliver the chief operating officer position and Chief Financial Officer position and I'll tell you is we did the search one of the really top candidates that we saw.

Speaker Change: And Salesforce has done it we are the number one.

Speaker Change: AI CRM, we are the leader of the digital Labor evolution, you can see it now with over 3000 paid customers and as you can see.

Speaker Change: The tens of trillions of transactions that happened in our data cloud.

Speaker Change: <unk> come through held this position in another company and I think as Robyn and I were talking about that.

Speaker Change: Incredible so thank you very much for a great fiscal year 'twenty five thank you, Amy and Brian It's amazing and welcome to Robin on to the management team and to all of our new executives congratulations on their promotions and we're ready for a great fiscal year 2006. This is going to be the absolute year of agent force.

Speaker Change: The leverage of having a cocoa this idea that the financial officer, and the Chief operating officer really come together as this incredible partnership to deliver this.

Speaker Change: Capability just was a perfect match for US I was thinking about going with it is with this outside Canada, and Thats, where I was fortunate to be able to convince Robyn to take the job and Robin would you like to just say something and just kind of come in here and just tell us about how excited you are to be part of the management team share Mark.

Mark Murphy: Mark Thanks, Kash. Thank you everyone for joining the call today, and we look forward to seeing everyone over the coming weeks.

Mark Murphy: Once again that does conclude today's conference. Thank you all for your participation you may now disconnect.

Speaker Change: And as you've heard Brian Amy and Mark talk about it as an exciting opportunity for US right now with agent for sell am elated to be able to join forces with the operating team.

Speaker Change: It's an exciting time in our industry as well and as you've heard us talk about the Trinity and are deeply unified platform I think we clearly are able to.

Speaker Change: Have something thats going to support our customers' growth and productivity in this new area in this new era I should say with the result of sustainable and profitable revenue growth for Salesforce and long term.

Speaker Change: Just wanted to also I should also really think Miguel mulatto as you probably know came back as our chief revenue officer about a year ago.

Speaker Change: He decided to.

Speaker Change: To rejoin us after some controlling them.

Speaker Change: And I've asked him to work directly for me running our worldwide sales organization and so I am so thrilled about that and I also have to think <unk>, who is our chief Engineering Officer is now our Chief Engineering and services officer, Who's taken on customer service and support and it's been a rebalancing of our management team. So we have this amazing new.

Speaker Change: Knew exactly with Robin I couldnt be more excited to be half or by my side.

Speaker Change: Just as a little side note Robyn will tell you I've been trying to convince her to join the company for over a decade.

Speaker Change: So I finally got her.

Speaker Change: There are a lot of selling so thrilled.

Mike Spencer: Thrilled to have Robin with us.

Speaker Change: And joining us.

No.

Speaker Change: Direct operating executive from the Board and then having Miguel is so exciting of course, having Parker with me as well is so critical.

Speaker Change: And also as I mentioned trainee is running services and engineering and Steve Fisher.

Speaker Change: Being promoted recently to our chief product officer, or actually our Chief Technology officer running products and our Chief product Officer, David Schmierer also with expanded responsibilities working directly for me David is now our chief product and impact officer and this is.

Speaker Change: Couldn't be more thrilled I also have a great chief of staff <unk> and our whole team around me with so many incredible functions and capabilities.

Speaker Change: And of course smiling and waving at me across the table is Sebastian <unk> My Chief Legal officer, who has done an unbelievable job since joining the company. So I don't think I've ever had a better management team I mean, it's hard to beat avian Brian, but I think maybe we did it but we're really thrilled so sorry, Amy and Brian.

Speaker Change: See you go, but Julio but welcome to the new management team and we're so thrilled to have with US since we're so excited to start fiscal year 'twenty six with an absolute bag and Robin did you want to and with any parting comments alright.

Speaker Change: Alright, very good she is ready for the next question. Thanks, Raimo, Let's go to the next question. Please operator.

Brent Thill: Next is Brent Thill Jefferies.

Brent Thill: Thanks, Marc just on dose and the impact of what the federal date States.

Brent Thill: Sure I'm curious if you could discuss your role and what you think this means.

Brent Thill: For Salesforce.

Brent Thill: Well I don't have any role.

Brent Thill: I think.

Brent Thill: No of course.

Brent Thill: Coming out this was a beginner's mind like I'm sure all of US are that we want to see what they.

Brent Thill: Are able to deliver with the new administration or.

Brent Thill: Huge fans of the United States of America, we want us to be a successful countries, we possibly can be and that also includes having something that I think is critical important for us which is a balanced budget something.

Brent Thill: Encouraged every president that I've worked with for you now.

Brent Thill: Quite a few administrations to achieve we're thrilled with our relationship with the government you know that we.

Brent Thill: Have so many agencies that depend on us from providing support for veterans who are veterans administration.

Brent Thill: So many other groups and I think even though just using slack to manage their communication and coordination. So yes, we will work closely with the government will do everything we can to help them succeed and we wish them only the best and we're here to help at every step of the way and we want the U S to be.

Brent Thill: As successful as it possibly can.

Brent Thill: Thanks, Brent operator, we'll go to the next question. Please.

Speaker Change: Next up from Jpmorgan, It's Mark Murphy.

Speaker Change: Thank you so much Mark you had mentioned this labor arbitrage and the jobs are going to evolve.

Speaker Change: When do you think through the scale of that kind of an opportunity how much labor do you think you can augment or replace for instance could.

Speaker Change: Could a company with 1000 employees.

Speaker Change: Slow its hiring or stopped hiring.

Brad: Yes, just layer in a couple of hundred agent Force, Boston and maybe accelerated script and then further to Brad's point Kip can.

Speaker Change: Can we apply that concept to federal government agencies that they have 3 million workers.

Speaker Change: And some of them are going to leave voluntarily could they layer in hundreds of thousands of these agent force.

Speaker Change: And see some greater efficiency.

Speaker Change: Yeah.

Speaker Change: Well I think that.

Speaker Change: Wave you away and say I don't really know yet, but I will tell you that since I'm. The CEO of a 75000 person company or how many employees do we have now 70 576000 and so.

Speaker Change: Let's just look at us.

Speaker Change: So we have got 9000 support agents, we really are seeing tremendous efficiency with helped that salesforce dot com. So we may see the opportunity to rebalance some of those folks in the sales and marketing and other functions. We're really excited about that.

Speaker Change: Would say that we're definitely have seen a lot of efficiency with engineering and some with some of the new tools that I've seen, especially some of these high performance coating tools.

Speaker Change: One of the key members of my staff Who's here in the room with us as to should we one of his new <unk>.

Speaker Change: Examples of what we're able to do with these coding tools pretty awesome and we're not going to hire any new engineers. This year, we're seeing 30% productivity increase on engineering, and we're going to really continue to ride that up and.

Speaker Change: We're going to grow sales pretty dramatically. This year, Brian has got a big vision for how to grow the sales organization.

Speaker Change: Another 10% to 20% I hope this year, because we're seeing incredible levels of demand I think every company, who is our customer or prospect wants us to come in and start talking about.

Speaker Change: What we're going to do with them and how we're going to transform them everybody sees the opportunity.

The big message I have for a lot of Ceos that I mean, it is hey, you know where the last generation of Ceos to only manage humans.

Speaker Change: I think every CEO going forward is going to manage.

Speaker Change: Humans and agents together I know, that's what I'm doing. So this is what I have to think about every single day as the CEO and I think everyone is going to have to start to think about that it's definitely starting because as I mentioned I was with a large Seo group last week.

Speaker Change: It was a topic of conversation in every single person that I met with and with whether it's those life Sciences Ceos that we mentioned or financial services Ceos or manufacturing Ceos and every example, they can see how agents are going be able to augment their workforce and I can think you can see it all.

Speaker Change: In the global economy that I think productivity is going to rise without additions to more human labor, which is good because human labor is not increasing in the global workforce. So you have a stagnant human workforce worldwide. So if you want productivity to go up and you want GDP to grow up and you want growth.

Speaker Change: I think that digital labor is going to be one of the catalysts to make that happen and I was talking with a significant amount of economists and the economic leader last week.

Speaker Change: I think that Dave.

<unk>.

Speaker Change: I think everyone's on the same page that we could see something really dramatic Mrs are.

Speaker Change: Main focus as a company we arent building.

Speaker Change: Building huge 10, 2030 $100 billion data centers, we're not.

Speaker Change: Doing some of these kind of engineering efforts that may or may not have some kind of huge payoff, but is going to take down all of our cash in all of our margin for the next several years, where like augmenting our existing product line with artificial intelligence taking advantage of these incredible investments that are being made.

Speaker Change: In infrastructure by others, and we're going to deliver the digital Labor Revolution. This is our goal our goal is to be the number one provider of digital labor in the world. That's it I don't think there really is another goal because you could say, we're the number one CRM, which we already are but when you are the number one.

Speaker Change: CRM you are also going to lead the digital labor Revolution that is going to be the focus of fiscal year 'twenty six because I said this is a year of digital labor and it is going to be the year, where every trailblazer is going to become an agent blazer.

Speaker Change: Great. Thanks, operator, we will take our last question now please.

Unnamed Operator: And that question comes from Kash Rangan Goldman Sachs.

Speaker Change: Hey, Thank you very much Mr. You, Brian in Ami, Congratulations Rob and one for you Mark.

Unnamed Operator: There's a lot of talk about how we're moving from model building and training to the inference layer and also as part of that ship to agenda technology.

Speaker Change: It's been a lot of.

Speaker Change: A debate about the SaaS technology, and the business model and the SaaS Tech stack that you built in pioneer.

Speaker Change: Does that fit into the Identic board is there a risk that SaaS just becomes a credit database.

Speaker Change: It sounds really terrible, but I am sure you have an opinion I'd love to hear it. Thank you.

Speaker Change: Okay, well Kash I really appreciate that and you know, we'll look at what I've heard that Microsoft narrative too. So you know I watch the podcast you watched and that's a very interesting idea.

Speaker Change: Here's the here's how I look at it which is I believe there is kind of a holy Trinity here of AI, CRM, which is the apps the data and the agents and these three things have to kind of work together and I kind of put my money, where our mouth is where we've kind of built it and we delivered it and you can see the 380000.

Speaker Change: Conversations that we had as point of evidence here in the last 90 days on our service.

Speaker Change: And with a very high resolution rate of 84% now.

Speaker Change: You can go to <unk>. So you can go to help that Salesforce dot com and you can see that today now Microsoft has had co pilot available for I think about two years or more than two years and they are out with I know that they are the reseller of open AI and they've invested in there to kind of repackage. This.

Chat GPT, whatever but were on their side are they delivering agents were in their company have they done this where are their best practice, because I think that while they can say such a thing do they have humans and agents working together to create customer success are they rebalancing their workforce with you.

Speaker Change: <unk> and agents.

I think that it's a very interesting point that yes, the egencia layers very important but it doesn't operate by itself. It operates with data with a data cloud that has to be federated through your company to all your data sources and humans, we're still here.

I'm hearing just knock on the table in case anybody wants to know this is not an agent and I guess, we're not very long is that actually going to be a good test, but just know that I am here and you could call me a text me cash and you know.

I'm using those apps to like I said I've got the new tableau is amazing the sales cloud the service cloud I use I use all of our products Slack I was just on <unk>.

And that idea that our apps and our data cloud.

And our <unk> are all integrated deliver integrated together right now and delivering value right now to our number one customer zero sales force.

Now here, we go and.

Our other vendors really doing that be aware of the false agents.

Go out there and take a look.

He was really talking about it and who is really delivering and this is a rollout of engineering that has to get done to make this really work for a large enterprise like us and Salesforce has done it we are the number one.

AI CRM, we are the leader of the digital Labor evolution, you can see it now with over 3000 paid customers and as you can see.

The tens of trillions of transactions that happened in our data cloud.

Incredible so thank you very much for a great fiscal year 'twenty five thank you, Amy and Brian It's amazing and welcome to Robin on to the management team and to all of our new executives congratulations on their promotions and we're ready for a great fiscal year 2006. This is going to be the absolute year of agent force. Thanks.

Thanks, Mark Thanks, Kash. Thank you everyone for joining the call today, and we look forward to seeing everyone over the coming weeks.

Once again that does conclude today's conference. Thank you all for your participation you may now disconnect.

Speaker Change: Okay.

Speaker Change: Yeah.

Speaker Change: Yeah.