The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kash Rangan - Goldman Sachs Group Inc - Analyst
: Thank you very much. One for you, Marc. The debate that has surfaced lately is, has SaaS outlived its long run? Tech cycles have
rarely lasted this long. So how defensible is SaaS, particularly the category that you're in within SaaS against disruption from AI native
apps and maybe custom-built AI?
One, if I could sneak one for you, Robin. Data Cloud and Agentforce showing triple-digit growth. When does that inflect the top line?
Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst
: Excellent. Thank you, guys, for taking the question. And Marc, I really agree with your characterization of the extension of SaaS versus
the elimination of SaaS. Almost seems like the market has a little bit of a mischaracterization of what generative AI is, thinking of it
as a category versus a big extension of capabilities.
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SEPTEMBER 03, 2025 / 9:00PM, CRM.N - Q2 2026 Salesforce Inc Earnings Call
And I think Salesforce is showing their ability to deliver those capabilities. One of the stats that you talked about in the quarter was
the 60% increase in pilot to production. Was there some technology catalyst or some implementation catalyst that caused that
increase of conversions of the pilot projects into production?
If so, what was that? And any color you could give us on what that looks like, what a production deal is going to look like around
Agentforce versus what you've been seeing in the pilots?
Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst
: Outstanding. Really looking forward to it.
Question: Brent Thill - Jefferies LLC - Analyst
: Thanks, Marc. With the $20 billion addition to the buyback, there's questions about the strategy of leaning harder into the buyback
and the balance of M&A? And I guess, does this signal that you're leaning harder towards a buyback? Or do you feel like you can do
both M&A and the buyback? Just curious to get your thoughts. You have been doing higher frequency of deals, and I think everyone
would love to hear your perspective on what this means.
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SEPTEMBER 03, 2025 / 9:00PM, CRM.N - Q2 2026 Salesforce Inc Earnings Call
Question: Kirk Materne - Evercore Inc - Analyst
: Yeah. Thanks very much. I think this one is here for Marc or Miguel. But these two quarters in a row you've mentioned the create and
close business has been pretty strong. And as we think about AI doing more work on the behalf of customers, I was curious just as
your view of whether the mid-market become more of a source of durable growth for you all as we look out over the next few years.
Marc, you mentioned that in relation to the ITSM opportunity. Just curious about what you're seeing in the mid-market and if this
can be a more expansive opportunity for you all as we look out? Thanks.
Question: Mark Murphy - JPMorgan Chase & Co - Analyst
: Marc, we've heard software companies say that they have held their head count flat in their support organizations. We haven't heard
anyone saying that they reduced head count by close to 40% there like you have. I'm curious, what do you think is holding other
software companies back from seeing that breakthrough?
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SEPTEMBER 03, 2025 / 9:00PM, CRM.N - Q2 2026 Salesforce Inc Earnings Call
And then as you repurpose those sales roles in -- excuse me, the support roles more into sales roles, what type of firepower do you
see that giving you to try to drive some of the incremental top line growth that you referred to about 90 days ago?
Question: Raimo Lenschow - Barclays Services Corp - Analyst
: Perfect. Hey, just to wrap it all up together. If you think about it, you have more sales guys, as Miguel said, the agents should help
you to get more productive. What does that tell me about your confidence about the growth outlook going forward? Could be a
short answer.
Question: Raimo Lenschow - Barclays Services Corp - Analyst
: Thank you. Yeah. Thank you.
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