Salesforce Files 2024 10-K Report

TL;DR

<b>Salesforce, Inc. has filed its annual 10-K report for the fiscal year ending January 31, 2024, detailing its financial performance and business operations.</b>

AI Summary

Salesforce, Inc. (CRM) filed a Annual Report (10-K) with the SEC on March 6, 2024. Salesforce, Inc. filed its 10-K report for the fiscal year ending January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. The company's principal executive offices are located at Salesforce Tower, 415 Mission Street, San Francisco, CA 94105. Salesforce was formerly known as SALESFORCE.COM, INC. and SALESFORCE COM INC. The SIC code for Salesforce is 7372 (SERVICES-PREPACKAGED SOFTWARE).

Why It Matters

For investors and stakeholders tracking Salesforce, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Salesforce's financial health, operational strategies, and risk factors for the fiscal year 2024, crucial for investors and analysts to assess the company's current standing and future prospects. The detailed financial statements and disclosures within the report are essential for understanding Salesforce's revenue streams, expenses, and overall profitability in a dynamic software market.

Risk Assessment

Risk Level: medium — Salesforce, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not present immediate, significant positive or negative news that would drastically alter the risk profile without further analysis of the specific financial data and management discussion.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to identify key performance indicators, revenue growth trends, and any disclosed risks or opportunities.

Key Numbers

• 2024-01-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-03-06 — Filing Date (The date the 10-K was filed.)
• 0001108524-24-000005 — Accession Number (Unique identifier for the filing.)
• 7372 — SIC Code (Standard Industrial Classification code.)

Key Players & Entities

• Salesforce, Inc. (company) — Filer of the 10-K report.
• Salesforce Tower (company) — Business and mailing address.
• 415 Mission Street (company) — Business and mailing address.
• San Francisco (company) — City for business and mailing address.
• CA (company) — State for business and mailing address.
• 94105 (company) — ZIP code for business and mailing address.
• SALESFORCE.COM, INC. (company) — Former company name.
• SALESFORCE COM INC (company) — Former company name.

FAQ

Industry Context

Salesforce operates in the prepackaged software industry, providing cloud-based enterprise software solutions.

Regulatory Implications

The filing is a standard 10-K report required by the SEC under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue breakdown by segment (Subscription and Support vs. Professional Services) to understand growth drivers.
2. Examine operating expenses (Cost of Sales, Selling & Marketing, R&D, G&A) for efficiency and investment trends.
3. Review any disclosed risk factors and management's strategies for mitigating them.

Key Dates

• 2024-01-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-06: Filing Date — Date Salesforce, Inc. submitted its 10-K report.

Year-Over-Year Comparison

This is the initial filing of the 10-K for the fiscal year ending January 31, 2024. Previous filings would cover earlier fiscal years.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share CRM New York Stock Exchange
• $225.01 — its shares (based on a closing price of $225.01 per share) held by non-affiliates was a

Filing Documents

• crm-20240131.htm (10-K) — 2351KB
• ex1017-nonxemployeedirecto.htm (EX-10.17) — 80KB
• ex211listofsubsidiariesfy24.htm (EX-21.1) — 64KB
• ex231eyconsentfy24.htm (EX-23.1) — 26KB
• ex311-ceocertq4fy24.htm (EX-31.1) — 8KB
• ex312-cfocertq4fy24.htm (EX-31.2) — 9KB
• ex321-soxcertsq4fy24.htm (EX-32.1) — 6KB
• ex9701-clawbackpolicy.htm (EX-97.01) — 35KB
• crm-20240131_g1.jpg (GRAPHIC) — 189KB
• imagea.jpg (GRAPHIC) — 14KB
• 0001108524-24-000005.txt (&nbsp;) — 12418KB
• crm-20240131.xsd (EX-101.SCH) — 64KB
• crm-20240131_cal.xml (EX-101.CAL) — 126KB
• crm-20240131_def.xml (EX-101.DEF) — 375KB
• crm-20240131_lab.xml (EX-101.LAB) — 1022KB
• crm-20240131_pre.xml (EX-101.PRE) — 655KB
• crm-20240131_htm.xml (XML) — 1918KB

Risk Factors

Item 1A. Risk Factors 11

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 35

Cybersecurity

Item 1C. Cybersecurity 35

Properties

Item 2. Properties 37

Legal Proceedings

Item 3. Legal Proceedings 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Information About Our Executive Officers

Item 4A. Information About Our Executive Officers 37 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39

Reserved

Item 6. Reserved 41

Management's Discussion and Analysis of Financial Condition and Results of Operation s

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation s 42

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 54

Financial Statements

Item 8. Financial Statements 57

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 92

Controls and Procedures

Item 9A. Controls and Procedures 92

Other Information

Item 9B. Other Information 93

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 93 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 94

Executive Compensation

Item 11. Executive Compensation 94

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94

Certain Relationships and Related Transactions and Director Independence

Item 13. Certain Relationships and Related Transactions and Director Independence 94

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 94 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 95

10-K Summary

Item 16. 10-K Summary 95 Index to Exhibits 95

Signatures

Signatures 98 2 Table of Contents FORWARD-LOOKING INFORMATION This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). Words such as "expects," "anticipates," "aims," "projects," "intends," "plans," "believes," "estimates," "seeks," "assumes," "may," "should," "could," "would," "foresees," "forecasts," "predicts," "targets" and "commitments" and variations of such words and similar expressions are intended to identify such forward-looking statements, which may consist of, among other things, trend analyses and statements regarding future events, future financial performance, anticipated growth, industry prospects, our business plans and growth strategy, our strategies, expectations or plans regarding our investments, including strategic investments or future acquisitions, our beliefs or expectations regarding our competition, our intentions regarding use of future earnings, our expectations regarding attrition rates, our expectations regarding restructuring initiatives, including with respect to timing or costs, our expectations regarding investing in human capital and technology or our beliefs or expectations regarding working capital, capital expenditures, debt maintenance or commitments. These forward-looking statements are based on current expectations, estimates and forecasts, as well as the beliefs and assumptions of our management, and are subject to risks and uncertainties that are difficult to predict, including: our ability to maintain security levels and service performance that meet the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; the expenses associated with our data centers and third-party infrastructure providers; our abi

BUSINESS

ITEM 1. BUSINESS Overview Salesforce, Inc. ("Salesforce," the "Company," "we" or "our") is a global leader in customer relationship management ("CRM") technology that brings companies and their customers together. Founded in 1999, we enable companies of every size and industry to connect with their customers through the power of data, AI, CRM and trust. Our AI-powered Customer 360 platform unites sales, service, marketing, commerce and IT teams by connecting customer data across systems, apps and devices to create a complete view of customers. With this single source of customer truth, teams can be more responsive, productive and efficient and deliver intelligent, personalized and automated experiences across every channel. Our Customer 360 service offerings are designed to be flexible, scalable and easy to use. They can generally be configured easily, deployed rapidly and integrated with other platforms and enterprise applications. We sell to businesses worldwide, primarily on a subscription basis, through our direct sales efforts and also indirectly through partners. We also enable third parties to use our platform and developer tools to create additional functionality and new applications that run on our platform, which are sold separately from, or in conjunction with, our service offerings. Salesforce is committed to a core set of values: trust, customer success, innovation, equality and sustainability. Foremost among these is trust, which is the foundation for everything we do. Our customers trust our technology to deliver the highest levels of security, privacy, performance, compliance and availability at scale. Customer success is at the core of our business and we align the entire company around our customers' needs to promote their success and show our value. We believe in continuous innovation, enabling our customers to access the latest technology advances so they can innovate and stay ahead in their industries. Equality is a core tenet of how we run

View Full Filing

View this 10-K filing on SEC EDGAR