Company Quick10K Filing
Salesforce.com
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 877 $134,163
10-Q 2019-12-04 Quarter: 2019-10-31
10-Q 2019-08-23 Quarter: 2019-07-31
10-Q 2019-06-05 Quarter: 2019-04-30
10-K 2019-03-08 Annual: 2019-01-31
10-Q 2018-11-28 Quarter: 2018-10-31
10-Q 2018-08-31 Quarter: 2018-07-31
10-Q 2018-05-31 Quarter: 2018-04-30
10-K 2018-03-09 Annual: 2018-01-31
10-Q 2017-11-22 Quarter: 2017-10-31
10-Q 2017-08-25 Quarter: 2017-07-31
10-Q 2017-05-22 Quarter: 2017-04-30
10-K 2017-03-06 Annual: 2017-01-31
10-Q 2016-11-21 Quarter: 2016-10-31
10-Q 2016-09-01 Quarter: 2016-07-31
10-Q 2016-05-20 Quarter: 2016-04-30
10-K 2016-03-07 Annual: 2016-01-31
10-Q 2015-11-20 Quarter: 2015-10-31
10-Q 2015-08-25 Quarter: 2015-07-31
10-Q 2015-05-22 Quarter: 2015-04-30
10-K 2015-03-06 Annual: 2015-01-31
10-Q 2014-11-26 Quarter: 2014-10-31
10-Q 2014-08-26 Quarter: 2014-07-31
10-Q 2014-05-30 Quarter: 2014-04-30
10-K 2014-03-05 Annual: 2014-01-31
10-Q 2013-11-25 Quarter: 2013-10-31
10-Q 2013-08-30 Quarter: 2013-07-31
10-Q 2013-05-24 Quarter: 2013-04-30
10-K 2013-03-08 Annual: 2013-01-31
10-Q 2012-11-28 Quarter: 2012-10-31
10-Q 2012-08-31 Quarter: 2012-07-31
10-Q 2012-05-25 Quarter: 2012-04-30
10-K 2012-03-09 Annual: 2012-01-31
10-Q 2011-11-29 Quarter: 2011-10-31
10-Q 2011-09-06 Quarter: 2011-07-31
10-Q 2011-05-26 Quarter: 2011-04-30
10-K 2011-03-23 Annual: 2011-01-31
10-Q 2010-11-24 Quarter: 2010-10-31
10-Q 2010-09-09 Quarter: 2010-07-31
10-Q 2010-05-28 Quarter: 2010-04-30
10-K 2010-03-11 Annual: 2010-01-31
8-K 2019-12-12 Officers, Regulation FD, Exhibits
8-K 2019-12-03 Earnings, Exhibits
8-K 2019-11-22 Regulation FD
8-K 2019-11-20 Regulation FD, Exhibits
8-K 2019-11-05 Regulation FD
8-K 2019-10-03 Other Events, Exhibits
8-K 2019-08-22 Earnings, Exhibits
8-K 2019-08-07 Regulation FD, Exhibits
8-K 2019-08-01 M&A, Other Events, Exhibits
8-K 2019-06-10 Other Events, Exhibits
8-K 2019-06-09 Enter Agreement, Exhibits
8-K 2019-06-06 Shareholder Vote, Amend Bylaw, Exhibits
8-K 2019-06-04 Earnings, Exhibits
8-K 2019-04-15 Regulation FD, Exhibits
8-K 2019-03-22 Officers
8-K 2019-03-04 Earnings, Exhibits
8-K 2018-11-27 Earnings, Exhibits
8-K 2018-09-26 Other Events, Exhibits
8-K 2018-09-07 Other Events, Exhibits
8-K 2018-08-29 Earnings, Exhibits
8-K 2018-08-06 Officers, Amend Bylaw, Exhibits
8-K 2018-06-12 Shareholder Vote, Officers, Amend Bylaw, Exhibits
8-K 2018-06-12 Enter Agreement, Sale of Shares, Exhibits
8-K 2018-05-29 Earnings, Regulation FD, Exhibits
8-K 2018-05-02 M&A, Other Events, Exhibits
8-K 2018-04-30 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-04-05 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-04-02 Earnings, Regulation FD, Exhibits
8-K 2018-03-22 Officers
8-K 2018-03-20 Enter Agreement, Exhibits
8-K 2018-02-28 Earnings, Exhibits
8-K 2018-02-17 Officers
CRM 2019-10-31
Part I. Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 crm-ex311xq3fy20.htm
EX-31.2 crm-ex312xq3fy20.htm
EX-31.3 crm-ex313xq3fy20.htm
EX-32.1 crm-ex321xq3fy20.htm

Salesforce.com Earnings 2019-10-31

CRM 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
ORCL 179,230 106,229 87,210 39,531 0 10,955 17,206 198,839 0% 11.6 10%
ADBE 137,757 20,055 9,812 10,644 9,272 2,786 3,723 135,094 87% 36.3 14%
CRM 134,163 33,336 16,170 15,074 11,013 950 2,727 133,649 73% 49.0 3%
INTU 70,823 6,283 2,534 6,784 713 1,557 2,086 68,857 11% 33.0 25%
VMW 64,205 20,372 15,173 9,496 0 6,267 2,563 65,133 0% 25.4 31%
NOW 52,221 4,603 3,342 3,011 2,301 3 215 51,634 76% 240.4 0%
ATVI 35,351 17,495 5,518 7,426 1,549 1,685 2,415 33,452 21% 13.9 10%
ADSK 34,134 4,873 5,067 3,005 2,619 57 297 34,600 87% 116.6 1%
CTXS 30,974 3,935 3,427 3,002 2,567 528 814 30,469 86% 37.4 13%
SQ 30,173 4,654 3,470 3,923 1,595 -53 25 30,429 41% 1,214.1 -1%

Document
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Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
 
(Mark One)
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended October 31, 2019
OR
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Commission File Number: 001-32224
 
salesforce.com, inc.
(Exact name of registrant as specified in its charter)
 

Delaware94-3320693
(State or other jurisdiction of
incorporation or organization)
(IRS Employer
Identification No.)
Salesforce Tower
415 Mission Street, 3rd Fl
San Francisco, California 94105
(Address of principal executive offices)
Telephone Number (415901-7000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareCRMNew York Stock Exchange
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:    Yes  x   No  ¨
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).    Yes  x   No  ¨
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes     No  x
As of November 29, 2019, there were approximately 887 million shares of the Registrant’s Common Stock outstanding.



Table of Contents
INDEX
 
  Page No.
  
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.

2

Table of Contents
PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
salesforce.com, inc.
Condensed Consolidated Balance Sheets
(in millions)
(unaudited)
October 31, 2019January 31, 2019
Assets
Current assets:
Cash and cash equivalents$3,868  $2,669  
Marketable securities2,661  1,673  
Accounts receivable, net2,573  4,924  
Costs capitalized to obtain revenue contracts, net 813  788  
Prepaid expenses and other current assets1,111  629  
Total current assets11,026  10,683  
Property and equipment, net2,365  2,051  
Operating lease right-of-use assets (Note 1)3,150   
Costs capitalized to obtain revenue contracts, noncurrent, net 1,103  1,232  
Strategic investments  1,760  1,302  
Goodwill25,022  12,851  
Intangible assets acquired through business combinations, net  4,987  1,923  
Capitalized software and other assets, net 529  695  
Total assets$49,942  $30,737  
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable, accrued expenses and other liabilities
$2,881  $2,691  
Operating lease liabilities, current (Note 1)
735   
Unearned revenue
6,858  8,564  
Total current liabilities10,474  11,255  
Noncurrent debt  2,824  3,173  
Noncurrent operating lease liabilities (Note 1) 2,535   
Other noncurrent liabilities 830  704  
Total liabilities16,663  15,132  
Stockholders’ equity:
Common stock1  1  
Additional paid-in capital31,243  13,927  
Accumulated other comprehensive loss  (74) (58) 
Retained earnings  2,109  1,735  
Total stockholders’ equity33,279  15,605  
Total liabilities and stockholders’ equity$49,942  $30,737  









See accompanying Notes.
3

Table of Contents
salesforce.com, inc.
Condensed Consolidated Statements of Operations
(in millions, except per share data)
(unaudited)
3Three Months Ended October 31,Nine Months Ended October 31,
 2019201820192018
Revenues:
Subscription and support$4,239  $3,168  $11,480  $9,038  
Professional services and other274  224  767  641  
Total revenues4,513  3,392  12,247  9,679  
Cost of revenues (1)(2):
Subscription and support 870  676  2,275  1,887  
Professional services and other 264  213  740  618  
Total cost of revenues1,134  889  3,015  2,505  
Gross profit3,379  2,503  9,232  7,174  
Operating expenses (1)(2):
Research and development774  481  1,935  1,368  
Marketing and sales2,063  1,588  5,584  4,421  
General and administrative477  342  1,214  987  
Loss on settlement of Salesforce.org reseller agreement (Note 6)0  0  166  0  
Total operating expenses3,314  2,411  8,899  6,776  
Income from operations  65  92  333  398  
Gains on strategic investments, net  6  63  396  417  
Other expense  (7) (27) (19) (71) 
Income before benefit from (provision for) income taxes 64  128  710  744  
Benefit from (provision for) income taxes (173) (23) (336) 4  
Net income (loss) $(109) $105  $374  $748  
Basic net income (loss) per share $(0.12) $0.14  $0.46  $1.00  
Diluted net income (loss) per share $(0.12) $0.13  $0.45  $0.97  
Shares used in computing basic net income (loss) per share 879  760  809  746  
Shares used in computing diluted net income (loss) per share 879  785  829  772  
_______________
(1) Amounts include amortization of intangible assets acquired through business combinations, as follows:
 Three Months Ended October 31,Nine Months Ended October 31,
 2019201820192018
Cost of revenues$157  $62  $280  $153  
Marketing and sales109  67  242  164  
(2) Amounts include stock-based expense, as follows:
 Three Months Ended October 31,Nine Months Ended October 31,
 2019201820192018
Cost of revenues$54  $42  $143  $119  
Research and development169  81  348  228  
Marketing and sales249  180  625  474  
General and administrative71  48  158  133  




See accompanying Notes.
4

Table of Contents
salesforce.com, inc.
Condensed Consolidated Statements of Comprehensive Income (Loss)
(in millions)
(unaudited)
3Three Months Ended October 31,Nine Months Ended October 31,
2019201820192018
Net income (loss)$(109) $105  $374  $748  
Other comprehensive income (loss), net of reclassification adjustments: 
Foreign currency translation and other losses  (1) (10) (31) (37) 
Unrealized gains (losses) on marketable securities and privately held debt securities 4  (14) 18  (18) 
Other comprehensive income (loss), before tax 3  (24) (13) (55) 
Tax effect0  0  (3) 0  
Other comprehensive income (loss), net 3  (24) (16) (55) 
Comprehensive income (loss) $(106) $81  $358  $693  































See accompanying Notes.
5

Table of Contents
salesforce.com, inc.
Condensed Consolidated Statements of Stockholders’ Equity
(in millions)
(unaudited)
Three and Nine Months Ended October 31, 2019
Common StockAdditional
Paid-in
Capital
Accumulated Other Comprehensive Loss  Retained EarningsTotal
Stockholders’
Equity
SharesAmount
Balance at January 31, 2019770  $1  $13,927  $(58) $1,735  $15,605  
Common stock issued5   113    113  
Stock-based expenses  343    343  
Other comprehensive loss, net of tax   (7)  (7) 
Net income    392  392  
Balance at April 30, 2019  775  1  14,383  (65) 2,127  16,446  
Common stock issued  5   253    253  
Stock-based expenses    388    388  
Other comprehensive loss, net of tax     (12)  (12) 
Net income    91  91  
Balance at July 31, 2019  780  1  15,024  (77) 2,218  17,166  
Common stock issued4   88    88  
Stock-based expenses  543    543  
Shares issued related to business combinations  102   15,588    15,588  
Other comprehensive income, net of tax     3   3  
Net loss      (109) (109) 
Balance at October 31, 2019886  $1  $31,243  $(74) $2,109  $33,279  

























See accompanying Notes.
6

Table of Contents
salesforce.com, inc.
Condensed Consolidated Statements of Stockholders’ Equity (cont.)
(in millions)
(unaudited)
Three and nine months ended October 31, 2018
Common StockAdditional
Paid-in
Capital
Accumulated Other Comprehensive Loss  Retained EarningsTotal
Stockholders’
Equity
SharesAmount
Balance at January 31, 2018730  $1  $9,752  $(12) $635  $10,376  
Cumulative effect of accounting changes (1)   (7) (10) (17) 
Common stock issued4   115    115  
Settlement of convertible notes and warrants  4    4  
Stock-based expenses  252    252  
Other comprehensive loss, net of tax   (14)  (14) 
Net income      344  344  
Balance at April 30, 2018734  1  10,123  (33) 969  11,060  
Common stock issued7   269    269  
Shares issued related to business combinations10   1,565    1,565  
Settlement of convertible notes and warrants 6      0  
Stock-based expenses  351    351  
Other comprehensive loss, net of tax   (17)  (17) 
Net income    299  299  
Balance at July 31, 2018757  1  12,308  (50) 1,268  13,527  
Common stock issued  4   103    103  
Shares issued related to business combinations  4   631