Salesforce Files 10-Q for Q2 FY25

TL;DR

**Salesforce Q2 FY25 10-Q is in! Check financials for the latest.**

AI Summary

Salesforce, Inc. filed its 10-Q for the period ending July 31, 2024. The filing covers the second quarter of fiscal year 2025. Key financial data and business segments are detailed within the report.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Salesforce, Inc., crucial for understanding the company's current standing and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240731 — Reporting Period End Date (Indicates the end of the fiscal quarter reported.)
• 20240829 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Salesforce, Inc. (company) — Filer of the 10-Q
• 20240731 (date) — End of the reporting period
• 20240829 (date) — Filing date
• 415 MISSION STREET 3RD FL (address) — Business and mailing address
• SAN FRANCISCO (location) — City of business address

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share CRM New York Stock Exchange

Filing Documents

• crm-20240731.htm (10-Q) — 2084KB
• ex311-ceocertq2fy25.htm (EX-31.1) — 8KB
• ex312-cfocertq2fy25.htm (EX-31.2) — 8KB
• ex321-soxcertsq2fy25.htm (EX-32.1) — 6KB
• 0001108524-24-000022.txt ( ) — 9385KB
• crm-20240731.xsd (EX-101.SCH) — 48KB
• crm-20240731_cal.xml (EX-101.CAL) — 89KB
• crm-20240731_def.xml (EX-101.DEF) — 249KB
• crm-20240731_lab.xml (EX-101.LAB) — 713KB
• crm-20240731_pre.xml (EX-101.PRE) — 481KB
• crm-20240731_htm.xml (XML) — 1572KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements: Condensed Consolidated Balance Sheets as of July 31, 2024 and January 31, 2024 3 Condensed Consolidated Statements of Operations for the three and six months ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended July 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended July 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the three and six months ended July 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 45

Risk Factors

Item 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 69

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 69

Other Information

Item 5. Other Information 69

Exhibits

Item 6. Exhibits 69

Signatures

Signatures 71 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Salesforce, Inc. Condensed Consolidated Balance Sheets (in millions) July 31, 2024 January 31, 2024 Assets (unaudited) Current assets: Cash and cash equivalents $ 7,682 $ 8,472 Marketable securities 4,954 5,722 Accounts receivable, net 5,391 11,414 Costs capitalized to obtain revenue contracts, net 1,851 1,905 Prepaid expenses and other current assets 1,984 1,561 Total current assets 21,862 29,074 Property and equipment, net 3,580 3,689 Operating lease right-of-use assets, net 2,130 2,366 Noncurrent costs capitalized to obtain revenue contracts, net 2,201 2,515 Strategic investments 5,017 4,848 Goodwill 48,941 48,620 Intangible assets acquired through business combinations, net 4,415 5,278 Deferred tax assets and other assets, net 4,034 3,433 Total assets $ 92,180 $ 99,823 Liabilities and stockholders' equity Current liabilities: Accounts payable, accrued expenses and other liabilities $ 5,220 $ 6,111 Operating lease liabilities, current 559 518 Unearned revenue 15,222 19,003 Debt, current 0 999 Total current liabilities 21,001 26,631 Noncurrent debt 8,430 8,427 Noncurrent operating lease liabilities 2,404 2,644 Other noncurrent liabilities 2,712 2,475 Total liabilities 34,547 40,177 Stockholders' equity: Common stock 1 1 Treasury stock, at cost ( 18,182 ) ( 11,692 ) Additional paid-in capital 62,143 59,841 Accumulated other comprehensive loss ( 236 ) ( 225 ) Retained earnings 13,907 11,721 Total stockholders' equity 57,633 59,646 Total liabilities and stockholders' equity $ 92,180 $ 99,823 See accompanying Notes. 3 Table of Contents Salesforce, Inc. Condensed Consolidated Statements of Operations (in millions, except per share data) (unaudited) 2 Three Months Ended July 31, Six Months Ended July 31, 2024 2023 2024 2023 Revenues: Subscription and support $ 8,764 $ 8,006 $ 17,349 $ 15,648 Professional services and other 561 597 1,109 1,202 Total revenues 9,325 8,603 18,458

View Full Filing

View this 10-Q filing on SEC EDGAR